According to the data of IHS Markit and S&P Global yesterday, the fact that the composite purchasing managers index (PMI) remained below the threshold of 50.0 points despite rising to 49.5 points in September, showed that the economic performance in the USA continued to shrink and led the NQ100 index to return its gains. In addition, according to the ADP National Employment Report, the private sector employment change was announced as 208,000 people, above the market expectations of 200,000 people in September. With the effects of this, the increase in the US 10-year bond yields up to the level of 3.76% also has an effect on the technology index. Technically speaking, if the index, which started to retreat by breaking the upper boundary line of the descending channel, can pass below the 11 480 level permanently, it can continue its declines until the 11 340 support, which is indicated by the Fibonacci 38.2% retracement line. In the upward attempts that may occur, 11 760 resistance may come to the fore.

Support: 11 480 – 11 340 – 11 200
Resistance: 11 760 – 11 900 – 12 040