ANALYSIS
NQ100 Finds Support from PPIApr 14
Disinflation Hopes are Priced in Technology NQ100
As the US Department of Labor reported yesterday, the producer price index (PPI) fell to 8% on an annual basis in October, against the market's expectation of 8.3%. The data supported the stock market while lowering the odds of the Federal Reserve (FED) being more aggressive in policy tightening. Technically speaking, the NQ100 index appears to be defending the recovery channel. As long as the 11 725 level is maintained below as a support, purchases that will be in effect may allow the index to reach 12 220 after 12 050. In the possible decreases below 11 725, 11 565 support can be followed.
