The Nasdaq Composite Index, often used as a proxy for the health of technology and internet-related stocks, on Friday was on the verge of ending one of its longest bear market, by one measure, since 1991.

The Nasdaq closed on Friday at 7,472.41, eclipsing by a healthy margin the 7,431.50 for the Nasdaq COMP, +1.71% need to rise 20% from its recent low on Dec. 24 at 6,192.92. That 20% climb from a bear-market low is a commonly used definition for an exit from bear-market territory.