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

The Hourly View for NDX

Last Updated April 27, 2021, 02:019 GMT

At the moment, Nasdaq 1000’s price is up 7.5 (0.05%) from the hour prior. Nasdaq 1000 has seen its price go up 9 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 and 10 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 closed the day prior up 0.61% (84.72); this denotes the 2nd consecutive day it has gone up. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 4th for the day in terms of price change relative to the day prior. Here 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. Or to view things another way, note that out of the past 10 days Nasdaq 100’s price has gone up 6 them.

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 DavidTaggart:

    if you were to create a NASDAQ 100 AD line or something like that you might see night and day different charts but the NAS AD line has always been more of a downtrending thing than anything else.Why? NASDAQ lets a ton of shitcos list with their looser listing requirements

  • From itsfroggydaddy:

    29.67 % of NASDAQ 100 stocks are trending up. Target >=28%. Trend Strength 3.76 Target: >=3.5. Avg distance from support 2.43 % Target >=2% Nasdaq 100 is a buy!! Current trend since – 2021-04-08 $QQQ $SPY $DIA $AAPL $AMZN $TSLA #growthstocks #technicalanalysis

  • From KelvinSCWong:

    Weekly Performance (19-23 Apr):
    SP 500 $SPX -0.13%
    Nasdaq 100 $NDX -0.72%
    Dow Jones $INDU -0.46%
    Russell 2000 $RUT +0.41%
    $SPX $NDX & $INDU posted first weekly losses after 4 weeks of consecutive weekly gains. $RUT managed to outperform

  • From FeiCai9:

    Nasdaq Composite new ath today. Nasdaq 100 notched new aths first 2 weeks ago. Now all growth stocks are participating this tech breakout, large and small

  • From 67Dodge:

    @ellenroseman @rcarrick I agree. I would not buy the Nasdaq 100 or a house in a major market today, ha.

  • From DailyFXTeam:

    Wall Street Futures Update:Dow Jones (-0.04%)
    S&P 500 (-0.04%)
    Nasdaq 100 (+0.01%)[delayed]-BBG

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

With Outsize Influence On S&P 500 And Nasdaq 100, Top Six Get Ready To Report – Hedgopia

Just in the first quarter, the S&P 500 rallied 5.8 percent, the S&P 400 13.1 percent and the S&P 600 17.9 percent….With five sessions to go this month, the S&P 500 and 400 are up another 5.2 percent each and the S&P 600 2.3 percent….After ticking 1.77 percent on March 30, the 10-year treasury yield has come under pressure, tagging 1.53 percent intraday but closing at 1.57 percent last Friday; the 50-day moving average at 1.55 percent was defended….In fact, through Wednesday’s low, the index was down 2.3 percent for the week; Friday’s rally helped it cut the loss to a decline of 0.7 percent….AAPL and TSLA are 7.3 percent and 19 percent below their respective January 2021 highs, AMZN six percent below its September 2020 high and FB 4.7 percent from this month’s high….In fact, in six out of the last seven weeks, the ratio closed at low-0.80s to high-0.70s (Chart 6).