The indexes followed the dollar and opened lower today, however the Nasdaq 100 index pushes up. Interesting fact is that the number of declining stocks in the Nasdaq 100 index is bigger than the number of the advancing stocks, however, the volume associated with these advancing stocks is higher than the volume associated with declining stocks. It looks like these stocks are holding the Nasdaq 100 index from a drop. The question is for how long...
Showing posts with label Nasdaq. Show all posts
Showing posts with label Nasdaq. Show all posts
Thursday, November 4, 2010
Wednesday, November 3, 2010
Nasdaq 100 again
As I mentioned yesterday, the indexes were down at the opening. However the Nasdaq 100 pushed them up (the same as yesterday and the day before yesterday), back to the neutral territory again. Money flow on the index charts, so far, remains to be the same as yesterday at close (see mine yesterday's "Nasdaq 100" post). The only difference is that the 1-min charts have neutral money flow and on 5-min chart money flow is moving down and could become negative. I would continue to monitor 5-min chart to see whether it become bearish - so far it is bullish.
Nasdaq 100
We had another day of side-way trading when the Nasdaq 100 index was pushing up while the rest of the market was trying to dive down. The difference between yesterday's and today's trading is that today we had stronger bullish volume on the Nasdaq 100. It is already seventh positive trading session in a row on the Nasdaq 100. The other main indexes (DJI, S&P 500 and Russell 2000) are almost three weeks in side-way action. I would risk to say that today's volume on the Nasdaq 100 could trigger a decline.
So far the Money Flow
- on 1-min chart is negative (bearish) on the Nasdaq 100, DJI and S&P 500
- on 5-min chart is positive (bullish) on the Nasdaq 100 and S&P 500 and neutral on DJI
- on 15-min chart is positive on the Nasdaq 100 and S&P 500 and neutral on DJI
- on 30-min chart is negative on the Nasdaq 100, DJI and S&P 500
- on 1-hour chart is negative (bearish) on the S&P 500 and DJI and neutral on the Nasdaq 100
From the money flow (volume) prospective I would say that there is a possibility to sea decline tomorrow at the market open (because of negative money flow on 1-min chart). If this happens then I would monitor money flow on 5-min and 15-min charts. If the money flow on these charts become negative (bearish) then I would expect stronger decline (on 30-min and 1-hour charts money flow is already negative).
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