Nasdaq 100 (NDX) Up 1.91%; Crosses 50 Day Moving Average

The Hourly View for NDX

Last Updated September 29, 2020, 00:06 GMT

At the time of this writing, NDX’s price is up $15 (0.13%) from the hour prior. NDX has seen its price go up 12 out of the past 14 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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 yesterday up 1.91% (213.32); this denotes the 3rd straight day an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Nasdaq 100 ended up ranking 6th for the day in terms of price change relative to yesterday. Here is a daily price chart of Nasdaq 100.

NDX

Nasdaq 100 Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Nasdaq 100 crossed above its 50 day moving average yesterday. 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 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For another vantage point, consider that Nasdaq 100’s price has gone up 8 of the previous 14 trading 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 rkharidasa:

    @datta_arvind 1.NIFTY BANK ETF (I wish there was an ETF tracking NIFTY financial services index rather than banks alone)
    2. GOLD BEES
    3. NASDAQ 100 ETFWould avoid NIFTY BEES as a couple of companies in the index are a strict avoid for me due to certain ESG issues.

  • From lisaabramowicz1:

    Ongoing volatility likely “means lower equity prices before this correction is over. We have targeted the 200-day moving averages for the S&P 500 and Nasdaq 100 as good levels to think about, which are approximately 6% and 14% lower, respectively:” MS’s Mike Wilson

  • From theMihirV:

    Weekend quiz:In 20 years,Nifty = 10x
    Gold = 10xHow much is NASDAQ 100 Index in 20 years? (closest number)All numbers are in Indian RupeesPls like and retweet for wider participation!

As for a news story related to Nasdaq 100 getting some buzz:

Nasdaq 100 Correction: Short and Long Term Fibonacci Retracement Levels – See It Market

Today we will look at the Fibonacci support levels on the Nasdaq 100 Index….In today’s chart we zoom in on Fibonacci retracement levels.