Nasdaq 100 (NDX) Tops All equity indices, Up 1.87%; But Still in a Downtrend Over Past 14 Days

The Hourly View for NDX

Last Updated October 30, 2020, 00:06 GMT

At the moment, NDX’s price is down $-44.26 (-0.39%) from the hour prior. This is the 2nd straight hour NDX has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NDX. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on NDX; it is now pointing up. 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 entered today at 11350.7432, up 1.87% ($207.99) from yesterday. Nasdaq 100 outperformed all 14 assets in the equity indices asset class since yesterday. Below is a daily price chart of Nasdaq 100.


Nasdaq 100 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Nasdaq 100’s price has gone down 9 of the previous 14 trading days.

Overheard on Twitter

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

  • From KelvinSCWong:

    Wobbly US session overnight,
    SP 500 $SPX -0.3%
    Nasdaq 100 $NDX +0.8%
    Russell 2000 $RUT -0.9%
    Seems like a Joe Biden win for #USPresidentialElections2020 has been almost fully priced in as value oriented + US domestically firms underperform the second consecutive session

  • From BonnieTowner:

    DOW 30
    S&P 500
    NASDAQ 100
    11,172.80I know 45 is over eating tonight he will ear three big macs 2 large fries and a diet coke and an extra snort of Adderall then a huge bowl of ice cream

  • From DailyFX:

    The Nasdaq 100 has now been selling off for more than two weeks, and the US Election is on the calendar for next Tuesday. Will the #Nasdaq 100 be higher or lower on Wednesday morning?