Nasdaq 100 (NDX) Makes Big Move Relative to Two Week Trend, Down 0.22%; in an Uptrend Over Past 30 Days

The Hourly View for NDX

Last Updated February 25, 2021, 00:020 GMT

Currently, Nasdaq 1000’s price is up 2.87 (0.02%) from the hour prior. Nasdaq 1000 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Nasdaq 100 Daily Price Recap

Nasdaq 100 closed the day prior down 0.22% (29.03); this denotes the 6th straight day a decline has happened. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 11th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 9 out of the past 14 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 Newsquawk:

    Asia begins subdued following on from the mixed performance on Wall St where the major indices spent most the session clawing back opening losses on dip buying and the Nasdaq 100 almost fully recovered from an initial 3.5% drop; ASX 200 (-0.7%), Nikkei 225 (-0.4%), KOSPI (-0.3%)

  • From AlexDemosthenes:

    Nasdaq 100 futures $QQQ down 1.6% pre market. Some of my favorite stocks like $SQ, $SKLZ, $TDOC are down >5% pre market. This is a long overdue correction on an index up >40% over the last year. Scared money don’t make money.

  • From Ajay_Bagga:

    The Nasdaq 100 was still down about 1% as the tech-heavy gauge headed to its longest losing streak since 2019, but came off its lows of the day following Powell’s comments. 2/n

  • From KelvinSCWong:

    Scorecard:
    SP 500 $SPX +0.13%(3881)
    Nasdaq 100 $NDX -0.22%(13194)
    Dow Jones $INDU +0.05%(31537)
    Russell 2000 $RUT -0.88%(2231)The rising long dated Treasury yields are the main catalyst for the current softness seen in US tech/growth stocks.

  • From Convertbond:

    Since SeptemberAgriculture $MOS +69%
    Uranium $URA +59%
    Metals $XME +58%
    Oil $XLE +38%
    Silver $SLV +9%
    Nasdaq 100 +4%
    Gold $GLD -6%*Nasdaq futures up 4% since Sept 2, Bloomberg data.via @BearTrapsReport

  • From SoulFairy3:

    @nzame00 Equal split between:
    Satrix Nasdaq 100
    Satrix S&P 500
    Sygnia 4IR

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

Nasdaq 100 continues losing streak, traders look for discounts

Tepper owns Peloton and Nvidia shares, and says it may make sense to add to both positions on this pullback….Peloton has fallen 14% this week; Nvidia was down 7% over that stretch.