Nasdaq 100 (NDX) Up 0.82%; Breaks Above 50 Day Average

The Hourly View for NDX

Last Updated October 28, 2020, 00:07 GMT

At the time of this writing, NDX’s price is up $36 (0.31%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. 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

The choppiness in the recent daily price action of Nasdaq 100 continues; to start today, it came in at a price of 11598.9453 US dollars, up 0.82% (94.43) since the previous day. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

Notably, Nasdaq 100 crossed above its 50 day moving average yesterday. 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 15 of the previous 30 trading days.

Overheard on Twitter

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

  • From Shadibakr:

    Suggest cautious trading as the nasdaq 100 index just broke its 7 months bullish wave and may head down to support @ 10740 Fundamental concern on Covid19 snowball effect on banking sector credit risks & financials. Stay safe

  • From scheplick:

    The Nasdaq 100 is still up 29% YTD. The S&P 500 is up 4.5%.It’s hard to take any sell-off too seriously at that kind of return.

  • From jfahmy:

    Nasdaq 100 now slightly negative on the month. 9/25 gap fill could be in play over the near-term.