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Forget the S&P—why the Nasdaq could be your best bet

The bull market continues to charge ahead.

The S&P 500 and the Dow Jones industrial average make fresh record highs nearly every day, while the Nasdaq composite is just 377.63 points away from its all-time intraday high of 5,132.52, set in March 2000.

So will the Nasdaq soon gain another 8 percent to hit its record—or will the S&P 500 or the Dow rise 8 percent first? In other words, what's the best index to hop onto right now?

According to Gina Sanchez of Chantico Global, the Nasdaq is set to break its record before the others rise 8 percent.

"I'd wager on the momentum," Sanchez said. "The fastest-running horse in that group is the Nasdaq. It has been leading the stock market generally higher."

Sanchez, a CNBC contributor, expects the tech sector to push the rest of the index higher. The Nasdaq composite is more tech heavy than the other indexes.

The technicals are also indicating a higher Nasdaq, according to the chart work of Todd Gordon, founder of TradingAnalysis.com. He is positive on the index because he sees some of its biggest sectors improving.

"We're starting to see technology pick up," said Gordon, a CNBC contributor. "I like the sector makeup to the topside."

But Gordon believes that the way the Nasdaq composite will grow will be based on how another index does—the smaller, large-cap Nasdaq 100.

"That is your tech-driven Nasdaq, not the composite, which encompasses other sectors," he explained. Gordon said the Nasdaq 100 is targeting its August 2000 high.

"We actually have further to go if this is a tech-led rally," Gordon added.

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