ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Descending Wedge Formation Indicates Upward Movements
In the minutes of the FED's meeting for July, it was announced that interest rate hikes would continue until inflation dropped significantly. Some weight was observed in the NQ100 index as Louis Fed President James Bullard supported the 75 basis point interest rate hike for the September meeting. However, it is seen that the strong decline in investor stress (VIX: 19.56) continues to support the technology index due to the peak in inflation and the disappearance of the uncertainty regarding the FED's monetary policy. Technically, in the NQ100 index, which we see preparing for upward movements with the preparation of the descending minor wedge formation, the purchases can accelerate up to the 13 700 resistance if the 13 560 level is exceeded. In the event of a downward movement, the 13 280 and 13 140 supports can be followed.
