ANALYSIS
NQ100 Finds Support from PPIApr 14
NASDAQ is bullish today
On Friday, US Department of Labor’s Bureau of Labor Statistics released non-farm payrolls data and it was registered as 467k, well above market forecast of 150k, leading to the expectations that rate hike in the FOMC’s March meeting will be 50 bps and putting pressure on the index. However, the technology index started to recover its losses at the start of the new week and if it settles above 14 845, we will follow Fibonacci 61.8 percent expansion line indicating 14 960. On the other side, we will keep an eye on 14 600 – 14 470 support zone.
