Nasdaq 100 (NDX) 2 Day Up Streak Broken; in an Uptrend Over Past 90 Days

The Hourly View for NDX

Last Updated February 18, 2021, 00:020 GMT

At the time of this writing, Nasdaq 1000’s price is down -2.34 (-0.02%) 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 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

The back and forth price flow continues for Nasdaq 100, which started today off at 13773.7656 US dollars, down 0.25% (33.93) from yesterday. Relative to other instruments in the equity indices asset class, Nasdaq 100 ranked 11th since yesterday in terms of percentage price change. Here is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 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 EwanThomson43:

    Sold my NASDAQ 100 longs on the spreadbet account today. Not sure why but have a gut feeling that things might head south soon over there. Too strong an instinct to ignore. Even if its wrong I’ve still made a good profit so content not do much more with it for a while.

  • From chhlss:

    For anyone unfamiliar SQQQ it is a 3x leveraged inverse ETF that tracks the Nasdaq 100, meaning it looks to return the exact results of the Nasdaq 100 index times three. IT IS NOT MEANT TO BE HELD DAY OVER DAY.

  • From KelvinSCWong:

    Muted start for US stock market as US reopened yesterday with underperformance seen in small caps stocks
    SP 500 $SPX -0.06%(3932)
    Nasdaq 100 $NDX -0.25%(13773)
    Dow Jones $INDU +0.2%(31522)
    Russell 2000 $RUT -0.72%(2272)

  • From bespokeinvest:

    Amazon $AMZN rallying today as the rest of FAANG and the Nasdaq 100 underperforms.

  • From DailyFXTeam:

    Wall Street Futures Update:Dow Jones (-0.08%)
    S&P 500 (-0.12%)
    Nasdaq 100 (-0.23%)[delayed]-BBG

  • From DailyFXTeam:

    Wall Street Futures Update:Dow Jones (+0.796%)
    S&P 500 (+0.680%)
    Nasdaq 100 (+0.659%)[delayed]-BBG