This is even worse for the NASDAQ

Though the NADSAQ exchange stopped trading yesterday, should you consider not trading the NASDAQ Composite Index?

Compared to the S&P 500 and Dow Jones Industrial Average, the tech-heavy NASDAQ Composite Index looks like the better investment for the month of August. Though the NASDAQ is flat, the S&P 500 is down nearly 2% while the Dow is off by more than 3%.

(Read more: Nasdaq resumes trading after three-hour shutdown)

To be sure, both Dow and S&P started the month off at record highs. And, from the start of July, the S&P 500 is up 3% and the Dow is roughly flat. Yet for the year, the NASDAQ has outperformed both indices, returning 20% to anyone who invested at the dawn of 2013 compared to returns in the teens for the other indices.

What's more, if you didn't sell any of the three indices at the market peak in 2007, you actually are ahead right now. That's right – if you didn't freak out and sell during the financial panic of 2008 (when indices were trading at half their 2007 values), you would be up about 5% with the S&P and the Dow at this very moment. But, investors in the NASDAQ would be up nearly 30% from the 2007 peak.

But is the NASDAQ index a safe place in the future?

(Read: Dastardly clever traders plot for flash crash or rip)

We ask Steve Cortes, founder of Veracruz TJM, to look at the fundamentals. He says that the NASDAQ index has a problem that's being masked by its recent performance. Checking the charts to see if the technicals agree with Cortes is Blaze Tankersley, Senior Managing Direct at BayCrest Partners. Tankersley says we are right now hitting levels that are nearly two decades in the making.

Should investors be worried about the NASDAQ? Watch Cortes and Tankersley analyze the index in the video above to find out.

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