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….
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.
Avg distance from support 2.43 % target >=2% nasdaq 100 is a buy!!
I see it as an xray of what is really going on inside the body of my instrument.
Many previous winners have suffered big losses, and there have been numerous false breakouts.
Relative to other instruments in the equity indices asset class, nasdaq 100 ranked 6th since the previous day in terms of percentage price change.
And for candlestick traders, a special treat: there is a evening star pattern showing up on the charts as well.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Price action traders may also wish to note that we see a doji candlestick pattern on nasdaq 1000.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.