Nasdaq 100 (NDX) Tops All equity indices, 2 Day Down Streak Snapped; Price Base in Formation Over Past 30 Days

The Hourly View for NDX

Last Updated November 12, 2020, 01:07 GMT

At the moment, NDX’s price is up $25 (0.21%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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

The back and forth price flow continues for Nasdaq 100, which started today off at 11892.93 US dollars, up 2.31% (268.64) from yesterday. Nasdaq 100 outperformed all 14 assets in the equity indices asset class since yesterday. Congrats to its holders! Below is a daily price chart of Nasdaq 100.


Nasdaq 100 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Nasdaq 100’s price has gone up 7 them.

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 MikeMcKerr_TDA:

    Over past 2 sessions, the Russell-2000 is +5.38%, outperforming Nasdaq-100 (-3.86%) by 9.25%, the biggest gap since at least 1990. Since then, there have been 41 times where RUT beat NDX over 2-days by 5%+ and in 90% of them, NDX was on ave -7.2%. Only 40% of time was RUT green.

  • From markminervini:

    Yesterday, the Dow outperformed the NASDAQ 100 by more than 5%. The market continues to be headline driven and increasingly volatile. A whipsaw market is the most dangerous and recent price action in stocks has been demonstrating this. In the short term, I’m cautious here.

  • From bullmarketsco:

    The Dow outperformed the NASDAQ 100 by more than 5% yesterday.Over the past 20 years, this only happened 19 other times: ALL in 2000-2002 (bursting of the tech bubble).Considering the past few months just saw the mother of all tech rallies…