1. The Nasdaq 100's dominance is fueled by asset flows and leverage, outpacing broader indexes like SPY and RSP; 2. Current market conditions mirror the dot-com bubble, with high concentration in mega-cap stocks and elevated risks from leverage and retail participation; 3. A 30% rally in QQQ is possible before a potential crash, akin to the 1999-2000 market dynamics driven by momentum and central control.