NQ100: Support of Macroeconomic Data in the Index



According to data from the Bureau of Labor Statistics (BoLS) of the US Department of Labor yesterday, the fact that job openings and labor turnover survey (JOLTS) was announced at the lowest level since May 2021 with 10.05 million people in August supported the NQ100 index, creating the possibility that the US Central Bank (FED) could reduce its aggressive tightening speed. Technically speaking, if the technology index, which completed the descending wedge formation and made its upward movements, exceeds 11 665 level permanently, it can recover up to 11 800 resistance, which is indicated by the Fibonacci 50.0% retracement line. In the downward movements that may occur, 11 375 and then 11 250 supports can be followed.

Support: 11 665 – 11 800 – 12 000
Resistance: 11 375 – 11 250 – 11 100