ANALYSIS
NQ100 Finds Support from PPIApr 14
NASDAQ is likely to ascend
Statements from the FOMC members on 50-bps rate hike led to loss of momentum in NASDAQ. However, the decline in treasury yields, which had been rising in recent days, halted that loss. Russia’s Eurobond payments also relieved the pressure on the markets following the concerns that Russia will not be able to pay Eurobond coupons. In addition, share buyback program of Alibaba Group supports the index upwards. Volatility index is also low (VIX: ~ 23.47). Considering all these, positive momentum continues in the index. And if it exceeds 14 685 resistance strongly, we will follow 14 840 and 15 000 resistance levels. In case of a decline below the minor trend, 14 400 and 14 265 will be our supports.
