Nasdaq 100 (NDX) Down 0.11%, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for NDX

Last Updated October 22, 2020, 00:06 GMT

Currently, NDX’s price is down $-78 (-0.66%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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

The choppiness in the recent daily price action of Nasdaq 100 continues; to start today, it came in at a price of 11665.3662 US dollars, down 0.11% (12.47) since the previous day. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 6th for the day in terms of price change relative to the previous day. 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. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 StriderElass:

    How Stocks Have Fared Since Donald J. Trump Was Elected PresidentMajor Equity Index Total Returns (USD)
    11/8/16 – 10/16/20NASDAQ 100 +157.2%
    S&P 500 +76%
    S&P MidCap 400 +40.8%
    MSCI Emerging Markets Net TR +36.8%
    S&P SmallCap 600 +34.9%
    MSCI Daily TR Net World (ex. US) +26.2%

  • From KelvinSCWong:

    US stocks declined overnight , the most in 2 weeks due to lack of clarity on the passage of additional US fiscal stimulus ahead of today deadline given by the House Speaker SP 500 $SPX -1.6%(3426) Nasdaq 100 $NDX -1.8%(11634)