Nasdaq 100 (NDX) Down 0.3%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

The Hourly View for NDX

Last Updated November 18, 2020, 02:019 GMT

At the moment, NDX’s price is down -8.51 (-0.07%) from the hour prior. NDX has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on NDX; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward 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 11977.49 US dollars, down 0.3% (35.89) since the day prior. 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 day prior. Here is a daily price chart of Nasdaq 100.


Nasdaq 100 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 16 out of the past 30 days.

Overheard on Twitter

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

  • From ConcaveMMT:

    @jtellnolies @TheMarkCooke The reason why the dow futures (US 30) and nasdaq 100 (US Tech) look red on Marks screenshot is because when he took it there was a downtick (futures went down a bit) so the app displayed it in red. It can be up 10%, but if it goes down to 9.99% it will display a red tick

  • From Newsquawk:

    Emini Nasdaq 100 futures surge at the reopen and are up 0.6% as Tesla shares rally 14% after-hours following the announcement of its inclusion to the S&P 500, while Emini S&P and DJIA futures are stable and hold on to the prior session’s gains

  • From BonnieTowner:

    DOW 30
    S&P 500
    NASDAQ 100
    +0.53% Yet 45 kept giving to the rich and corporations knowing damn well it would not have a trickle down effect. The rich never got rich by giving to the people who need it

  • From KelvinSCWong:

    Another dose of #COVID19 vaccine optimism juicing up risk assets; Moderna said it’s vaccine 94.5% effective, more than Pfizer 90% rate
    SP 500 $SPX +1.2%(3626)
    Nasdaq 100 $NDX +0.6%(12013)
    Dow $INDU +1.6%(29950)
    Russell 2000 $RUT +2.1%(1781)

  • From KelvinSCWong:

    Cooling off from #COVID19 vaccine optimism 2.0. Risk assets saw selling pressure but not rampant.
    SP 500 $SPX -0.5%(3609)
    Nasdaq 100 $NDX -0.3%(11977)
    Dow Jones $INDU -0.6% (29783)
    Russell 2000 $RUT +0.3%(1790)


    @bennpeifert @Jonnn_15 @beetlechocolate THAT GIF IS WHAT THE NASDAQ 100 LOOKS LIKE IN MY HEAD.