Nasdaq 100

It’s been a feast for bears operating on an hourly timeframe, as ndx has now gone down 5 of the past 5 hours.

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.

Out of the 14 instruments in the equity indices asset class, nasdaq 100 ended up ranking 7th for the day in terms of price change relative to the day prior.

This move is a reversal from the hour prior, which saw price move up.

Price action traders may also wish to note that we see a pin bar candlestick pattern on ndx.

Of note is that the 20 hour changed directions on ndx; it is now pointing down.

Relative to other instruments in the equity indices asset class, nasdaq 100 ranked 2nd since the day prior in terms of percentage price change.

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.

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.

Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.