Nasdaq 100 (NDX) Down 0%; in an Uptrend Over Past 14 Days

The Hourly View for NDX

Last Updated June 7, 2021, 02:019 GMT

At the moment, Nasdaq 1000’s price is down 0 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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. 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 13771.19, down 0% ($0.41) from the previous day. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 10th for the day in terms of price change relative to the previous day. Here is a daily price chart of Nasdaq 100.


Nasdaq 100 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Nasdaq 100’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

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

  • From finance_hipster:

    First, covered call ETFs:
    ▪️ $QYLD (sells CCs off Nasdaq 100)
    ▪️ $XYLD (sells CCs off S&P 500)
    ▪️ $RYLD (sells CCs off Russell 1000)These sell covered call options off the indexes listed to generate income. Each yield close to 10% in income, but don’t grow much at all. 👇

  • From finance_hipster:

    Another option is $NUSI.This one uses a collar strategy off the Nasdaq 100, using calls but also having a put option to limit downside. Theoretically, the share price shouldn’t drop as much during a downturn due to the income from the puts. It yields around 5% annually.👇

  • From LMsungwa:

    The Nasdaq 100 Index is the weakest of the three major US indices, but it is trying to break through resistance levels that it failed to break in recent weeks. To refocus the all-time high of 14073, a breakthrough of 13814 is needed.

  • From Convertbond:

    Almost 1/2 Way thru 2021Oil $XOP 65%
    Uranium $URNM 63%
    Copper $FCX 60%
    Metals $XME 40%
    Coal $ARCH 37%
    US Small Value $IJS 34%
    US Value $IJJ 27%
    Brazil $EWZS 22%
    S&P Equal 20%
    Russia $RSX 20%
    Russell $IWM 16%
    S&P 13%
    Tech $XLK 8%
    Nasdaq 100 $NDX 7%
    Dollar DXY 0%
    Bonds $TLT -10%

  • From Convertbond:

    Now imagine the $16-$17 Trillion of wealth tied up in the Nasdaq 100 watching Ferrari’s pass every five minutes. Then think of the $110 Trillion in bonds over the last year below 1.75% in yield. #Migration

  • From Vested_finance:

    Weekly market stats:
    Dow Jones: 0.7% up
    Nasdaq 100: 0.5% up
    S&P 500:0.6% up
    USD/INR: 73.15; 1.0% up#investedweekly #vested #stockmarketnews