NASDAQ-100 ($NDX) Index Forecast: Up 1.0% Today

What is NASDAQ-100?

The Nasdaq 100 (NDX) index tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq stock exchange. It is heavily weighted towards technology stocks.

Why is NASDAQ-100 going up?

NDX index is up 1.0% on Jun 28, 2024 14:16

• The Nasdaq Futures slipping due to an individual stock's sell-off could have put some pressure on the NDX index initially.
• The S&P 500 Futures holding up indicates a more resilient broader market sentiment, which eventually led to the strong bullish movement in the NDX.
• Comments by analysts about valuations potentially causing volatility and a tech rally normalization might have influenced market movements but did not prevent the NDX from rising.
• Despite mixed global cues, the NDX index experienced a strong bullish movement, supported by the resilience of the broader market following the initial slip in Nasdaq Futures.

NDX Price Chart

NDX News

Nasdaq Futures Slip As Nvidia Sell-Off Continues, S&P 500 Futures Hold Up: Analyst Says ''Valuations Will Go Parabolic And It Will Be A Perfect Time To Sell''

The U.S. market is on track to open Monday’s session on a firmer note after retreating from its record high in the final two sessions of last week. Potential clues on the near-term rate outlook from Federal Reserve officials’ speeches could potentially move stocks. The tech rally will likely continue to normalize, going by the trends in the premarket session. Analysts, however, are not unduly worried about the overbought level seen in tech stocks. Commodities are modestly higher and bond yields are flat-lining. Global cues are mixed, with Asian stocks ending in a whimper, while the European markets were advancing. Futures Performance (+/-) Nasdaq 100 -0.10% S&P 500 +0.07% Dow +0.26% R2K +0.23% In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) gained 0.15% at $545.30 and the Invesco QQQ ETF (NASDAQ: QQQ ) was flat at $479.43, according to Benzinga Pro data . Cues From Last Week: U.S. stocks closed the holiday-shortened week ended June 21 higher but the gains were much more muted, potentially reflecting skepticism among traders as the market hovered in overbought territory.

https://www.benzinga.com/news/earnings/24/06/39453063/nasdaq-futures-slip-as-nvidia-sell-off-continues-s-p-500-futures-hold-up-analyst-says-valuations-wi

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NASDAQ-100 Price History

12.05.2024 - NDX Index was up 1.9%

• The bullish movement in the NDX index today can be attributed to the overall positive sentiment in the market, driven by the following factors:
• The rise in share prices of technology stocks has contributed to investor optimism and likely boosted the performance of the NDX index.
• Supportive economic data hinting at potential Federal Reserve policy easing may have also played a role in boosting investor confidence in the tech sector.
• The focus on must-own stocks and retirement ETFs suggests a growing interest in long-term investment strategies, which could have positively influenced the NDX index's performance today.

05.05.2024 - NDX Index was up 2.0%

• The Nasdaq 100 (NDX) experienced a strong bullish movement today, with futures performance showing a significant increase.
• The positive market movement can be attributed to:
• Optimism surrounding the tech sector, particularly after positive reactions to tech earnings.
• Expectations of a positive start to the week on Wall Street, with mega-cap tech stocks and the meme stock rally providing momentum.
• Anticipation of key economic data releases, such as labor market data and service sector activity readings, influencing trading direction.
• The overall positive sentiment in the market, with traders eyeing a potential rise in the S&P 500 and Dow indices for the month of June.

04.05.2024 - NDX Index was up 1.2%

• The NDX index had a bullish movement as mega-cap tech stocks and the resumption of the meme stock rally provided the market with the momentum needed to break out of a lackluster phase seen in late May.
• Tech stocks were sliding premarket due to considerations of cutting reliance on the United States in chipmaking, but the meme stock frenzy and GameStop's skyrocketing performance boosted the market.
• Traders were closely monitoring key economic data, such as factory goods orders and the JOLTS survey results, as well as the potential impact of softer growth on the Fed funds rate.
• The positive sentiment in the market was further supported by the optimistic outlook for a strong start to June, with Wall Street potentially defying historical trends and small-cap stocks benefiting from the meme stock rally.

03.05.2024 - NDX Index was down 0.4%

• The bearish movement in the NDX index today could be attributed to concerns over inflation data and bond yields.
• The market sentiment may have been affected by the caution surrounding key economic indicators and the potential impact on stock prices, leading to a sell-off in tech-heavy indices like the Nasdaq 100.
• The positive performance of GameStop due to a renewed meme rally and the strong start to the week for mega-cap tech stocks may have diverted some attention away from the NDX index, contributing to its bearish movement.
• Traders might have been more focused on individual stock movements and specific events, such as the GameStop rally, rather than broader market indices like the NDX, leading to a lack of support for the index today.

31.04.2024 - NDX Index was down 1.2%

• The bearish movement in the NDX index today can be attributed to:
• Rising bond yields, which have been a cause for concern in the market recently, leading to a risk-off sentiment among investors.
• Mixed earnings reports and lower bond yields keeping sentiment subdued.
• Renewed geopolitical tensions in the Middle East adding to the overall market uncertainty.
• The overall weakness in major indices, such as the S&P 500 and Dow Jones, further contributing to the bearish trend in the Nasdaq 100.

24.04.2024 - NDX Index was up 0.3%

• The NDX experienced a strong bullish movement today.
• The market sentiment was initially positive, with index futures jumping early in the day due to Nvidia Corp.'s impressive earnings report, which boosted investor confidence.
• However, concerns over inflation and the Federal Reserve's rate outlook led to a sharp downturn later in the day, impacting blue-chip stocks and causing a broad sector selloff.
• The surge in the CBOE Volatility Index (VIX) indicated increasing market fear and uncertainty, contributing to the overall bearish sentiment despite the initial bullish start driven by Nvidia's performance.

20.04.2024 - NDX Index was up 0.7%

• Today, the NDX exhibited a strong bullish trend, underscoring positive market sentiment and investor confidence in the technology and growth sectors.
• The recent resurgence of the meme stock rally might have provided a boost to small and mid-cap segments, contributing to the overall uptrend.
• Market participants are keeping a close eye on interest rates and Federal Reserve communications for indications about future market movements, showcasing a mix of caution and optimism.
• The NDX's bullish performance is possibly driven by strong tech earnings and a potential pause following a prolonged market surge, as investors focus on economic indicators and corporate profits to guide their decisions.

14.04.2024 - NDX Index was up 0.6%

• The bullish movement in the NDX index today can be attributed to:
• Positive sentiment in the overall market, with traders gearing up for key economic events like the producer price inflation report and speeches by Federal Reserve officials.
• Technical analysis indicating potential breakouts or reversals in stocks like SPY and QQQ, leading to increased investor confidence.
• Market participants closely monitoring price levels and volume dynamics in major tech stocks like AAPL, MSFT, NVDA, GOOGL, META, and TSLA, which could have influenced the bullish trend in the NDX index.
• The anticipation of upcoming macroeconomic data, such as the Consumer Price Index and Producer Price Index, which are seen as crucial factors that could impact the stock market's direction.

14.04.2024 - NDX Index was up 0.3%

• Traders are awaiting key economic events such as the producer price inflation report and speeches by Federal Reserve officials, including Chairman Jerome Powell, causing market uncertainty.
• Traders are monitoring the resistance zone of the Invesco QQQ Trust Series 1 closely, with concerns about low volume in the rally and overbought RSI, indicating vulnerability to downside risks.
• The SPDR S&P 500 ETF Trust is trading around key levels, with bullish targets set for the day, indicating optimism in the market.
• Wall Street is poised for a positive start to the week, but inflation worries loom large, with a focus on maintaining economic data momentum and watching Treasury yields.

25.03.2024 - NDX Index was down 10.1%

• The bearish movement in the NDX index today can be attributed to the overall negative sentiment in the tech sector, as evidenced by the recent downturn in the Nasdaq 100 index.
• Market weakness may have resulted from concerns over interest rate cuts, mixed corporate earnings guidance, and geopolitical risks impacting tech stocks.
• Positive earnings reports from companies like Tesla and Texas Instruments have not been enough to shift the cautious broader market sentiment, contributing to the bearish movement in the NDX index.
• Investors are closely watching economic data and the Federal Reserve's upcoming decisions, expecting them to influence market direction in the short term.

11.03.2024 - NDX Index was up 0.9%

• The bullish movement in the NDX index today could be attributed to the overall positive sentiment in the tech sector, driven by the following factors:
• The anticipation of strong first-half performance for April in the crypto market, with Bitcoin (BTC-USD) being considered a blue-chip option for investors seeking relative security amidst market volatility.
• Market Clubhouse Morning Memo highlighting potential breakouts or reversals in tech stocks like SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, which could have influenced investor optimism.
• Despite a nervous start to the week for U.S. stocks due to rising bond yields and inflation concerns, the bullish movement in the NDX index suggests that tech stocks are resilient and attracting investor interest.
• The fluctuating market sentiment, influenced by factors such as inflation data, interest rate expectations, and job reports, may have created opportunities for traders to capitalize on the bullish momentum in the tech sector.
• The volatility in interest-rate-sensitive sectors like clean energy and semiconductors, as seen in the recent market movements, underscores the importance of monitoring macroeconomic indicators and central bank policies for potential market shifts.

27.02.2024 - NDX Index was down 0.9%

• Today's bearish movement in the NDX index may be attributed to profit-taking following a recent bullish streak.
• The Market Clubhouse Morning Memo featuring various prominent stocks may have redirected trading focus from the NDX index.
• Traders observing the specified stocks could have repositioned their investments, resulting in a decline in the NDX index.
• The spotlight on potential breakouts or reversals in those stocks might have prompted a fund rotation, affecting the overall sentiment and contributing to the NDX index's downturn.