Nasdaq 100 (NDX) Fares the Worst Out of equity indices; Heads Down For the 5th Straight Day

The Hourly View for NDX

Last Updated October 20, 2020, 00:06 GMT

At the time of this writing, NDX’s price is down $-15 (-0.13%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NDX has now gone down 9 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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

Nasdaq 100 closed yesterday down 1.84% (217.82); this denotes the 5th straight day a decrease has occurred. On a relative basis, Nasdaq 100 was the worst performer out of all 14 of the assets in the equity indices asset class today. 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 14 days Nasdaq 100’s price has gone up 7 them.