Trend following The Nasdaq 100 Index this week, looking at the weeklies (lookback), it is breaking below the weekly Upward breakout (gap up) from back in March.
stock chart of the Nasdaq 100 Index
Trend following The Nasdaq 100 Index (NDX) after making a new all time high this week, is following through today. So now, as a matter of using systematic rules, typically trend following investors will now look for a weekly closing over last week’s High, or a monthly closing over last Months’ High.
The Index, this week, is now trending at, or in excess of, a 20% compound annualized rate of growth, over a 200 day stretch.
There is absolutely no need for using exotic algorithms, and other opaque and complex, and proprietary strategies.
For the trend following newbies out there, trend following involves strategies using price input only. So, you won’t find us mind numbing you about extra judicial councils in Washington, or mindlessly intriguing you with who is now running for office, as do many of the stock blogs and teevee channels.
Trend following today, The Nasdaq 100 Index (NDX) closed at a new all time high at $7,713.50. The previous closing high was last October at $7,701. Last week it went to the High but failed to close. So, we’ll see if it can hold this High on the close of the week.
The Dow Industrials Index (DJI), or also known as “The Dow 30”, and The S&P 500 Index (SPX) have not yet hit the Highs. And the various other Total Market Indexes, such as the Wilshire 5000 (W5000), The Russell 3000 (RUA) etc. etc. have not yet hit the Highs.
The Nasdaq 100 continues Bullish
The Nasdaq 100 Index (NDX) another Weekly Bullish, so far this week. “Bullish” as in trend signal.
Long term, the index is tacking along at, or in excess of, 20 % annualized rate of growth (as of today).
Notes: for the new readers to this Blog. This is pure long term trend following. We use price action only, to tell us what the trend direction is. We use no stock or economics fundamentals.
Nasdaq 100 bullish trend folowing
The Nasdaq 100 Index $NDX Bullish today at $7,498., after a dip, is looking to trade over last Month’s High of $7,505.41. The trend following people trading Monthly Highs like this momentum investment. An opportunity to initiate a new position, or add to an existing position.
#nasdaq #stocks #investing
Making a nice little break to the Upward side. S/R at $7,169, trading at the moment at $7,211. This one doesn’t yet meet our ‘ long term’ criteria. But it’s making progress.