ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30: Selling Pressure After CPI Data
The fact that the consumer price index (CPI) in the US, which is at the focus of global markets, exceeded market expectations by 8.3 percent on an annual basis in August, increased the likelihood of a 75 basis point interest rate increase at the critical monetary policy meeting of the US Central Bank (FED) on 20-21 September, while the dollar, which was strengthened by its effects, increased its pressure on relatively risky assets. As a matter of fact, US 10-year bond yields have also risen to %3.42. When technically examined, the DOW30 index, which turns to a downtrend with the completion of the rising wedge formation, can sustain its losses up to 31 000 support, which will be the lowest of the week, if it passes below 31 400 level permanently. In possible upward attacks, 32 000 and 32 385 resistances will be followed closely.
