ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Takes Off After US CPI
Yesterday, there was a high level of macroeconomic data flow in terms of asset pricing in the USA. According to data from the US Department of Labor, the consumer price index (CPI) increased by 0.4% in October and it was at 7.7% on an annual basis, below the market expectations of 8.0%. In this period, the core CPI also decreased to 6.3 level on an annual basis. Thus, we see a positive momentum in the stock market with the expectations that the US Federal Reserve (FED) may consider a softer rate hike of 50 basis points rather than 75 at the last monetary policy meeting of the year. Technically speaking, if the NQ100 index, which has been on an upward attack within the channel, can reach 11 820 with permanent closes, it can take the 11 945 level, which will be the highest of about 2 months, to the agenda. Below, 11 550 followed by 11 400 supports can be followed.
