ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Priced Positively With Rising Risk Appetite
The effects of the decline in the consumer price index (CPI) data in the USA from the peak of 41 years with 8.5 percent on an annual basis in July continue on the global markets. After the data set, the recovery in the risk appetite, with the current weakening of the US Federal Reserve's (FED) interest rate hike by 75 basis points at its September meeting, increases the demand for the NQ100 index. Technically, gains might extend to 13 700, the highest level since April, provided the technology index maintains its upward momentum in the rising minor channel on the fourth trading day of the week and is permanently crossed over 13 585. On the other hand, 13 280 support can be brought to the agenda as possible downside attractions.
