ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Pressure on the Index Likely to Continue
The day we left behind, the PCE Deflator, known as the inflation indicator of the US Federal Reserve (FED), was announced 6.3% on an annual basis in May. Expectations that the FED will continue with tight interest rate hikes suppress the NQ100 index on the last trading day of the week. Technically, the losses are likely to continue until the 11 100 support, as the technology index, which tends to deepen its losses by breaking the wedge formation, leaves behind the 11 260 level permanently. 11 540 resistance can be followed by market players in a possible upward scenario in the index.
