ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Prepares for Recovery
Following FED Chairman Jerome Powell's statement that the peak interest rate could be reached at a higher-than-expected point, it is seen that there is some weight on the technology index. However, last Friday, although nonfarm payrolls (NFP), reported by the US Department of Labor, exceeded expectations of 200,000 in October at 261,000, with the unemployment rate rising by 3.7 percent from the lowest level of the last 50 years, the assessment that the FED could raise interest rates softer by 50 basis points rather than 75 at the December meeting, enabled us to see a movement in assets with high-risk sensitivity, especially stocks. In this context, if the technology index, which is in preparation for a descending wedge, exceeds the 10 950 level, the rising steps can be climbed up to 11 085 with the completion of the wedge. Below, 10 675 followed by 10 540 supports can be followed.
