ANALYSIS
NQ100 Finds Support from PPIApr 14
Balance Sheet Expectation in NQ100
The fact that the consumer price index (CPI) in the data of the US Department of Labor yesterday realized at 8.2% on an annual basis above expectations and as such the possibility of a 75 basis point interest rate hike of FED increased, putting the NQ100 index under pressure. However, on the last trading day of the week, the expectation of an optimistic atmosphere in the balance sheets to be announced by the 6 major Wall Street banks today seems to support the stock market. In addition, the improvement trend in investor risk appetite also has an effect here. Technically, if the index, which is seen to be in preparation for a descending wedge, can rise above the 11 220 level permanently, the 11 350 resistance may come to the fore. Below, 10 960 – 10 840 supports will be followed.
