ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30:Dissolutions May Begin in the Index
The US Federal Reserve's (FED) decision to ease up on monetary tightening was anticipated as a result of the US gross domestic product (GDP) statistics, which were released the day before we departed and showed a second consecutive quarter of contraction. This expectation caused a reaction in the index. But the balance sheet season in the US stock market is getting complicated. Finally, purchases were limited in the index, with chip maker Intel's announcement of profit figures in the second quarter, which was below market expectations. In addition, the recovery in long-term yields in the global bond market also has a downward effect on the index. Under this outlook, DOW30, which is struggling to hold its gains in the Fibonacci retracement zone, could slide down to 32 000 which is the psychological border line on the breakouts to 32 285. In possible upward attacks, 32 875 and 33 150 resistances will be followed.
