ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Prepares to Erase 4.5 Months Losses
The balance sheets announced by US technology companies below the market forecasts caused the NQ100 index to lose some momentum. However, the data announced by the US Department of Commerce yesterday showed that the gross domestic product (GDP) in the country grew by 2.9 percent in the 4th quarter, against the market expectations of 2.6 percent. This kept stock demand resilient, raising hopes that the Federal Open Market Committee (FOMC) will cut the pace of policy tightening by as much as 25 basis points at its critical February meeting. Above, 12 115 is at the main resistance position. Exceeding this point may allow the loss of 4.5 months to be erased, with 12 420, after 12 265. In surprise pullbacks, 11 835 and 11 680 supports can be followed.
