Nasdaq 100 (NDX) Moves Up For the 2nd Straight Day, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for NDX

Last Updated May 31, 2021, 02:019 GMT

Currently, Nasdaq 1000’s price is down 0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Nasdaq 1000 has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 20 and 200 hour changed directions on NDX; they are now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Nasdaq 100 Daily Price Recap

Nasdaq 100 came into today up 0.22% (29.44) from the open of yesterday, marking the 2nd straight day an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 8th for the day in terms of price change relative to yesterday. Below is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Nasdaq 100’s price has gone up 15 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

Over on Twitter, here were the top tweets about Nasdaq 100:

  • From rajeshjbpindia:

    @RakJhun @RK_Damani_Bot @RameshDamaniBot @VijayKediaBot
    NASDAQ 100 :
    My view :On Monday ,31st May ,
    Nasdaq 100 is bearish
    range may be
    Selling level :13690–13720
    Target :13410 or more low
    But
    if it open above 13720 then range will be around 13760-13670.
    Closing below 13700.

  • From investingretir1:

    @gannonbreslin Few funds : nasdaq 100 $QQQ / $QQQM or FANGs + $ARKK, $ARKW, $WCLD or top high growth $SQ $SHOP $SE $ROKU $ZM + Tencent, JD (sorry it’s more than 7)

  • From BusinessFamous:

    @noahwxlr @capital_sb $QYLD based on Nasdaq 100 holdings
    $RYLD based on Russell 2000 holdings
    $XYLD based on S&P 500 holdingsAll the funds generate the monthly dividend by the same method, selling covered calls

  • From BaragwanathBiz:

    Luxury bubble? LVMH Louis Vuitton whatnot has a price to earnings ratio of 70. Richemont 43. Nasdaq 100 a P/E of 37. Info from Bloomberg

  • From Vested_finance:

    Weekly market statsDow Jones: 0.9% up
    Nasdaq 100: 2.1% up
    S&P 500:1.2% up
    USD/INR: 72.39; 0.7% down#weeklymarketupdate #stockmarketnews

  • From GavinGewecke:

    What’s your favorite nasdaq 100 stock for the back half of 2021 and why?