ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Erases Losses of 5 Months After FED
The Federal Open Market Committee (FOMC) ended its critical meeting yesterday. In line with market expectations, the committee increased its federal funds target by 25 basis points to the range of 4.50 – 4.75. FED Chairman Powell, who appeared before the press after the decision, pointed out that they are approaching a restrictive stance, which brought a strong reaction to the stock market. From this point of view, if the NQ100 index, which has erased its losses since September, can manage to hold above 12 300, it may enter the consolidation phase and reach 12 745 resistance, after 12 600. In surprise declines below 12 300, the 12 160 – 12 000 line will be the power collection zone.
