← Browse all charts Is the Nasdaq-100 leading the S&P 500 or giving ground back?

Nasdaq-100 vs S&P 500 Leadership

A normalized comparison that shows whether large-cap growth is pulling ahead of the broader large-cap market or giving leadership back.

Daily · through Oct 20, 2026
Data & methodology
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Older events · Members

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The latest series values and a keyboard-readable date table are below the chart. CSV and JSON downloads are for NASDUCK paid members.

Use Value for the raw series and % from view start to rebase the first visible value in the current window to 0%.

Dates & readable data

Raw values in the selected chart window

Selected historical events

Curated anchors for market context, rather than a complete news feed. Toggle markers above to place them on the chart.

Nov 30, 2022 OpenAI launches ChatGPT
May 25, 2023 Nvidia's blowout guidance kicks off the AI trade
Jan 27, 2025 DeepSeek's low-cost AI model sinks chip stocks

How To Read It

  • When the Nasdaq-100 line pulls above the S&P 500 line, large-cap growth is taking leadership; when it falls behind, leadership is broadening or turning more defensive.
  • Use shorter windows to spot tactical rotation and longer windows to distinguish a durable growth regime from a brief bounce.
  • These are price indices, so the comparison does not include reinvested dividends.
Next step Charts show what moved. NASDUCK asks why.

Rates, the dollar, oil and gold all end up in the Nasdaq-100 eventually. NASDUCK follows that trail once a week and keeps score on its own calls.