Nasdaq 100 (NDX) Down 0.02%, in an Uptrend Over Past 30 Days; is Inching Close to 20 Day Average

The Hourly View for NDX

Last Updated October 23, 2020, 00:06 GMT

Currently, NDX’s price is down $-4 (-0.03%) from the hour prior. This is the 2nd straight hour NDX has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NDX. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on NDX; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Nasdaq 100 Daily Price Recap

Nasdaq 100 is down 0.02% (2.45) since the previous day, marking the 2nd straight day a decline has happened. Relative to other instruments in the equity indices asset class, Nasdaq 100 ranked 6th since the previous day in terms of percentage price change. Here is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Nasdaq 100’s price has gone down 8 of the previous 14 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Nasdaq 100 for the past day were:

  • From nxarria:

    We would have had the appropriate stimulus 6,000 Nasdaq 100 points ago if the Fed just stepped back. Now Congress thinks its the public and everything is good.And the Fed is supposedly looking to Congress for fiscal measures. That is a joke because the Fed should act last then

  • From KelvinSCWong:

    US stocks ended yesterday session in the green SP 500 $SPX +0.5% (3443) Nasdaq 100 $NDX +0.4% (11677) on the backdrop fiscal stimulus optimism with positive comments from House Speaker to get a deal wrap up by this week

  • From AndrewThrasher:

    Volatility across several equity indices, but not all, has become compressed. Most notably the Nasdaq 100 Volatility Index, which dispersion is at the lowest level since January.
    $VXN $QQQ