ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Maintains Upward Potential
The index lost some momentum as the PMI data released in the US on Monday revealed that economic activity was declining. However, we see that the demand for the technology index, which almost completely priced in the 75 basis point rate hike possibilities at the US Federal Reserve's (FED) November meeting, remained alive. On the other hand, the optimistic course in the investor risk atmosphere also keeps the NQ100 index on the alert. Technically, if the index, which carries the rising channel movement to the third trading day of the week, is permanently above 11 580, recovery steps may continue until 11 700 resistance, which will be the 2-month high. In downside attempts, 11 350 and then 11 200 supports may be in question.
