Learn to Evaluate Nasdaq 100 Index ($NDX) using the Charts

August 07, 2023, 15:15 pm ET, BY John- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NDX

• Buy NDX slightly over 14428.36 target 15584.43 stop loss @ 14386.69 Details

The technical summary data tells us to buy NDX near 14428.36 with an upside target of 15584.43. This data also tells us to set a stop loss @ 14386.69 to protect against excessive loss in case the stock begins to move against the trade. 14428.36 is the first level of support below 15371.5 , and by rule, any test of support is a buy signal. In this case, support 14428.36 is being tested, a buy signal would exist.

• Short NDX slightly under 15584.43, target 14428.36, stop loss @ 15629.44 Details

The technical summary data is suggesting a short of NDX as it gets near 15584.43 with a downside target of 14428.36. We should have a stop loss in place at 15629.44though. 15584.43 is the first level of resistance above 15371.5, and by rule, any test of resistance is a short signal. In this case, if resistance 15584.43 is being tested, a short signal would exist.

Swing Trading Plans for NDX

• Buy NDX slightly over 15584.43, target 15677.67, Stop Loss @ 15539.42 Details

If 15584.43 begins to break higher, the technical summary data tells us to buy NDX just slightly over 15584.43, with an upside target of 15677.67. The data also tells us to set a stop loss @ 15539.42 in case the stock turns against the trade. 15584.43 is the first level of resistance above 15371.5, and by rule, any break above resistance is a buy signal. In this case, 15584.43, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NDX slightly near 15584.43, target 15350.66, Stop Loss @ 15629.44. Details

The technical summary data is suggesting a short of NDX if it tests 15584.43 with a downside target of 15350.66. We should have a stop loss in place at 15629.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 15584.43, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NDX

• Buy NDX slightly over 15388.53, target 15584.43, Stop Loss @ 15352.63 Details

If 15388.53 begins to break higher, the technical summary data tells us to buy NDX just slightly over 15388.53, with an upside target of 15584.43. The data also tells us to set a stop loss @ 15352.63 in case the stock turns against the trade. 15388.53 is the first level of resistance above 15371.5, and by rule, any break above resistance is a buy signal. In this case, 15388.53, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NDX slightly near 15388.53, target 15350.66, Stop Loss @ 15424.43. Details

The technical summary data is suggesting a short of NDX if it tests 15388.53 with a downside target of 15350.66. We should have a stop loss in place at 15424.43 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 15388.53, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Nasdaq 100 Index (NDX) available here: NDX.

NDX Ratings for August 07:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	13282.19
P2	15179.01	15350.66	14428.36
P3	15388.53	15677.67	15584.43

AI Generated Signals for NDX

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Nasdaq 100 Index (NYSE: NDX) report below can help you understand how to do this. The trading plans for NDX, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.