ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30:Recovery In The Index Could Not Be Permanent
We are observing the pressure on US technology shares after the social media company Snap One Holdings warned investors that it will not be able to meet its revenue targets for the second quarter. On the other hand, the orders for durable goods announced by the US Department of Commerce fell below expectations in April, indicating a slowdown in the retail sales sector. The PMI data published by IHS Markit Economics the previous day also signaled that there was a loss of momentum in the manufacturing and services sectors, which are the cornerstones of the US economy. The DOW30 index, which is having trouble finding demand under this outlook, has started to loosen from the 100-period weighted moving average. If the 31 500 level can be terminated as the first support below, the solutions may take up to the 31 185 level. If it is above 32 060 – 32 350 will be the stabilization zone.
