Nasdaq 100 (NDX) Heads Down For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

The Hourly View for NDX

Last Updated April 29, 2021, 03:019 GMT

Currently, Nasdaq 1000’s price is down 0.06 (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 0.42% (58.66) since yesterday, marking the 2nd consecutive day a decline has happened. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 13th for the day in terms of price change relative to yesterday. Below is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

Volatility for Nasdaq 100 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Nasdaq 100’s price has gone up 7 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Nasdaq 100:

  • From KelvinSCWong:

    Earnings (after US close):
    Microsoft EPS beats. $1.95 vs. $1.78 est.
    Alphabet EPS beats, $26.29 vs. $15.82 est.
    $MSFT -2.66%(255)-after hours
    $GOOGL+4.24%(2388)-after hours
    No impact now on stock futures (Asia session)
    SP 500 $ES_F +0.09%(4182)
    Nasdaq 100 $NQ_F +0.11%(13968)

  • From KelvinSCWong:

    Scorecard (27 Apr):
    SP 500 $SPX -0.02%(4186)
    Nasdaq 100 $NDX -0.47%(13960)
    Dow Jones $INDU +0.01%(33984)
    Russell 2000 $RUT +0.14%(2301)
    US 10 Yr Treasury Yield +5bps (1.62%)
    US Dollar Index $DXY +0.1%(90.89)
    WTI Crude futures $LCO +1.6%(62.95)

  • From KelvinSCWong:

    Within Information Technology Sector, Semiconductors $SOXX shined with +1.83%Overall, medium term uptrend remains intact on the major US stock indices; SP 500, Nasdaq 100, Dow Jones Industrial Average

  • From fredtheinvestor:

    @GrettahS ETF’s:
    – JSE top 40
    – S&P 500
    – Nasdaq 100Stocks:- Tesla
    – Apple
    – Amazon
    – Twitter
    – Facebook
    – Nike
    – CokaCola
    – Google
    – Purple Group
    – Naspers
    – Aspen
    – Alibaba

  • From fredtheinvestor:

    @Da_guyzin ETF’s:
    – JSE top 40
    – S&P 500
    – Nasdaq 100Stocks:- Tesla
    – Apple
    – Amazon
    – Twitter
    – Facebook
    – Nike
    – CokaCola
    – Google
    – Purple Group
    – Naspers
    – Aspen
    – Alibaba

  • From StewartButton:

    FEDERAL RESERVE MINUTES:The Federal Reserve’s dual mandates (the SP 500 and Nasdaq 100) look fine, so no change to policy.

For a longer news piece related to NDX that’s been generating discussion, check out:

S&P, Nasdaq 100 futures are higher after Apple & Facebook beat estimates

U.S. stock index futures were higher in overnight trading on Wednesday, after the major averages posted losses for the day….The S&P slid from its high after Federal Reserve Chairman Jerome Powell said during a press conference following the Federal Open Market Committee’s decision that there are some signs of froth in the market….”But we expect a choppier environment as tensions are set to persist between better economic growth and earnings prospects versus the potential for higher taxes and rising interest rates as the economy normalizes,” he added.