Nasdaq 100 Index (NDX) Trading Report

June 23, 2022, 11:45 am ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Nasdaq 100 Index (NYSE: NDX) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for NDX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if NDX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for NDX too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for NDX

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short NDX under 11968.41, target n/a, stop loss @ 12002.97 Details

The technical summary data is suggesting a short of NDX as it gets near 11968.41, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 12002.97. 11968.41 is the first level of resistance above 11632.9, and by rule, any test of resistance is a short signal. In this case, if resistance 11968.41 is being tested, so a short signal would exist.

Swing Trading Plans for NDX

• Buy NDX slightly over 11968.41, target 13347.64, Stop Loss @ 11933.85 Details

If 11968.41 begins to break higher, the technical summary data tells us to buy NDX just slightly over 11968.41, with an upside target of 13347.64. The data also tells us to set a stop loss @ 11933.85 in case the stock turns against the trade. 11968.41 is the first level of resistance above 11632.9, and by rule, any break above resistance is a buy signal. In this case, 11968.41, 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 near 11968.41, target 11392.79, Stop Loss @ 12002.97. Details

The technical summary data is suggesting a short of NDX if it tests 11968.41 with a downside target of 11392.79. We should have a stop loss in place at 12002.97 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, 11968.41, 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 11751.73, target 11968.41, Stop Loss @ 11724.31 Details

If 11751.73 begins to break higher, the technical summary data tells us to buy NDX just slightly over 11751.73, with an upside target of 11968.41. The data also tells us to set a stop loss @ 11724.31 in case the stock turns against the trade. 11751.73 is the first level of resistance above 11632.9, and by rule, any break above resistance is a buy signal. In this case, 11751.73, 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 near 11751.73, target 11392.79, Stop Loss @ 11779.15. Details

The technical summary data is suggesting a short of NDX if it tests 11751.73 with a downside target of 11392.79. We should have a stop loss in place at 11779.15 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, 11751.73, 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.

NDX Ratings for June 23:

Term →	Near	Mid	Long
Rating	Strong	Weak	Weak
P1	0	0	11968.41
P2	11391.37	10654.48	13347.64
P3	11751.73	11392.79	14759.44

Support and Resistance Plot Chart for NDX

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