Nasdaq 100 (NDX) Down 0.1%; Pin Bar Pattern Appearing on Chart

The Hourly View for NDX

Last Updated March 30, 2021, 23:19 GMT

At the moment, Nasdaq 1000’s price is up 27.73 (0.22%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Nasdaq 1000. 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

The back and forth price flow continues for Nasdaq 100, which started today off at 12965.7432 US dollars, down 0.1% (13.37) from yesterday. Relative to other instruments in the equity indices asset class, Nasdaq 100 ranked 12th since yesterday in terms of percentage price change. The daily price chart of Nasdaq 100 below illustrates.


Nasdaq 100 Technical Analysis

Volatility for Nasdaq 100 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 30 days Nasdaq 100’s price has gone down 18 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Nasdaq 100:

  • From vivekthebaria:

    What are your bets for next 5 yrs to improve your life from where you are now?
    Mine are:
    1. Growing my business
    2. Owning large chunks of businesses like CDSL, HDFCLIFE/ICICILOMBARD, IEX etc.
    3. US tech through Nasdaq 100.
    4. A good exposure to Bitcoins.
    5. Completing my Novel.

  • From KelvinSCWong:

    Good morning & brand new trading week ahead as we head into Q2! Strong performance seen across the board for major US stock indices last Fri
    Scoreboard (26 Mar):
    SP 500 $SPX +1.66%(3974)
    Nasdaq 100 $NDX +1.55%(12979)
    Dow Jones $INDU +1.39%(33072)
    Russell 2000 $RUT +1.76%(2221)

  • From JamesMcDonaugh1:

    Btc has offered 10x the gains of the NASDAQ 100 over the last 10 years. Annualised 225% compared to 20%. But don’t let that make you buy any ‘because it’s all a bubble’ and a ‘giant ponzi’.

  • From RitulVMishra:

    @balajis @mattwridley The day India will have something like NASDAQ 100 i.e 100 innovative companies/product of India actively being used around the world, one can say its ready to take the charge!

  • From datta_arvind:

    @niknike80 It’s like riding a ETF like NIFTY 50.
    If one is bullish on NIFTY 50 then one can be bullish on NASDAQ 100 too.
    Tech is the future…..

  • From value_invest12:

    % Below 52-Week High…
    S&P 500: 0%
    Nasdaq 100: -6%
    Amazon: -14%
    Apple: -16%
    PayPal: -22%
    Twitter: -24%
    Square: -25%
    Salesforce: -27%
    Shopify: -29%
    Twilio: -30%
    Tesla: -31%
    Spotify: -33%
    Peloton: -38%
    Zillow: -38%
    Snowflake: -46%
    Zoom: -46%
    DoorDash: -48%
    Virgin Galactic: -53%

As for a news story related to Nasdaq 100 getting some buzz:

S&P 500 Eyes Breakout Even As Nasdaq 100 Acts Weak And Russell 2000 Lies In Between – Hedgopia

The rally from that low surpassed the prior high on March 17 as the index tagged 3983.87….From last Thursday’s low, the S&P 500 (3974.54) already rallied 3.2 percent – slightly past 3950s….Then, through the March 5th low, it quickly dropped 12 percent – below the trend line as well as the 50-day….The small cap index (2221.48) has come a long way since last March when it bottomed at 966.22 (Chart 3)….The rally after that low made a new high, but not by much, as the index once again retreated after tagging 2360.17 on the 15th this month….Both the S&P 500 and the Russell 2000 then went on to surpass those highs, but the ratio kept rising, with last Friday at 0.477 (Chart 5).