Nasdaq 100 (NDX) Down 1.61%; Breaks Below 20 and 50 Day Averages

The Hourly View for NDX

Last Updated October 27, 2020, 00:06 GMT

Currently, NDX’s price is down $-6.48 (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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. 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 11504.5186 US dollars, down 1.61% (188.05) since the previous day. Relative to other instruments in the equity indices asset class, Nasdaq 100 ranked 8th since the previous day in terms of percentage price change. Here is a daily price chart of Nasdaq 100.


Nasdaq 100 Technical Analysis

First things first: Nasdaq 100 crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Nasdaq 100’s price has gone down 8 them.