ANALYSIS
NQ100 Finds Support from PPIApr 14
FOMC Effect Continues in NQ100
The impact of the FOMC Minutes released Wednesday continues on the technology index NQ100. As a matter of fact, it was stated in the minutes that the Committee thought it would be appropriate to slow down in the rate of increase in interest rates in the near future. Thus, the positive outlook in the stock markets continues due to the falling dollar, with the hopes that the FED will consider an interest rate hike of 50 basis points rather than 75 at the last monetary policy meeting of the year in December. Technically speaking, the psychological 12 000 level will be followed closely in terms of pricing of the index, which continues its channel movement. Permanently crossing above this point may pave the way for the rise to 12 125 resistance. In the possible downward movements, 11 750 support can be followed.
