Nasdaq 100 (NDX) Tops All equity indices, Up 4.41%; Breaks Above 20 and 50 Day Averages

The Hourly View for NDX

Last Updated November 5, 2020, 00:06 GMT

Currently, NDX’s price is down $-22 (-0.19%) from the hour prior. NDX has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 came into today up 4.41% (497.11) from the open of the day prior, marking the 3rd straight day an increase has occurred. Nasdaq 100 outperformed all 14 assets in the equity indices asset class since the day prior. Here is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

First things first: Nasdaq 100 crossed above its 20 and 50 day moving averages yesterday. 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 another vantage point, consider that Nasdaq 100’s price has gone up 6 of the previous 10 trading days.

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 fundhunter_co:

    @vitaliyk At the same time didn’t the Nasdaq 100 take 17 years to hit a new high and the S&P 500 something like 12 years (on a sustainable basis). So part of it was the two bear markets that followed. You also had to buy Microsoft at the worst time, in 1999, for this example to be true.

  • From LaMonicaBuzz:

    Another impressive day for the market. 27 Dow stocks finished higher. Only $CVX $JNJ $AMGN in red. Energy was only S&P sector to close lower. And just 11 stocks in the Nasdaq 100 were down. But let’s see what happens tomorrow!

  • From spectatorindex:

    JUST IN: Nasdaq 100 futures surge as President Trump performs better than expected in US election.