NAS100 Downtrend Continues Despite Bounce

  • NAS100

Weekly Chart

The NAS100 weekly chart has negative aspects that are worth noting.

  1. It has charted a series of lower peaks followed by lower troughs.
  2. This puts the weekly chart into a defined downtrend.
  3. The RSI is below 50 (green rectangle).
  4. This is the bearish side of the indicator and connotes an underlying bearish momentum.
  5. The NAS100's weekly candlesticks are below the black 30-week EMA and the 30-week EMA has turned down.

Daily Chart

1. The daily chart shows that even after three days of blue candles, the NAS100 is still in its bearish channel, between the lower blue and red bands.
2. Typically, trading in this area leads to lower prices if maintained.
3. The daily RSI is also below 50, suggesting a bearish momentum is pressuring the index.


The FOMC statement and press conference will play a role today. A pause is generally expected, as higher yields are tightening financial conditions. If the Fed retains a hawkish tone in the statement and press conference, this is likely to act further on the NAS100.

Trade the News: View our Economic Calendar

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

${} / ${getInstrumentData.ticker} /

Exchange: ${}

${} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)

${getInstrumentData.oneYearLow} 52/wk Range ${getInstrumentData.oneYearHigh}

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Past Performance: Past Performance is not an indicator of future results.

Spreads Widget: When static spreads are displayed, the figures reflect a time-stamped snapshot as of when the market closes. Spreads are variable and are subject to delay. Single Share prices are subject to a 15 minute delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.