Nasdaq 100 (NDX) 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days

The Hourly View for NDX

Last Updated January 14, 2021, 03:020 GMT

Currently, Nasdaq 1000’s price is down -26.38 (-0.2%) from the hour prior. The hourly chart shows that Nasdaq 1000 has seen 2 straight down hours. 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. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. 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 entered today at 12973.6328, up 0.63% ($81.54) from the previous day. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 21 out of the past 30 days.

Overheard on Twitter

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

  • From kushkatakia:

    Chasing momentum is working. 4 days after ending the year at almost 40x earnings, the Nasdaq 100 posted its biggest rally in 2 months. Hedging has been costly. A basket of favoured manager short positions went against them by 10% last week, rallying the most in 7 mnths.

  • From IntStd:

    The reopening trade idea keeps edging markets forward – on the day so far petrol is up, dollar lightly strengthens, hopes of increased production are in the air even as on-the-ground economic effects remain little changed. Ever optimistic, Nasdaq 100 high today should be ~0.56%.

  • From tpetruno:

    Bull Market 2021: Stocks of small- and mid-size companies are running away with it. Index gains since Dec. 31:Russell microcap +9.4%
    S&P smallcap +8.6
    Russell 2000 +7.8
    S&P midcap +6.2
    Dow 30 +1.5
    Nasdaq composite +1.4
    S&P 500 +1.2
    S&P 100 +0.6
    Nasdaq 100 +0.03

  • From Klaein_Phil_:

    @garyblack00 Just buy a nasdaq 100 etf $qqq can have better performance than the short Tesla trade. I feel sad for the investors who invest in his hedge fund

  • From foodnfinance:

    What’s the sector breakdown for NASDAQ 100 Index Fund $QQQ? Currently it breaks down like this:
    Technology 62.89%
    Consumer Cyclicals 23.56%
    Healthcare 5.90%
    Consumer Non-Cyclicals 3.55%
    Industrials 2.18%
    Telecommunications Services 1.31%
    Utilities 0.60%

  • From wealth_beacon:

    @SumairaAbidi Global diversification of portfolio. How investors can get global equity exposure? Say MoSL nasdaq 100 FoF to Edelweiss Greater China offshore.