ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:The Index Maintains Its Upward Outlook on the First Trading Day
Although the surprise contraction of the manufacturing purchasing managers index in China in July lowered the demand for the NQ100 index somewhat, it is seen that the moderate easing in the dollar supported the technology index with the expectations that the FED will reduce the aggressive tightening rate after the USA entered the technical recession. In addition, we think that the index found demand with the optimism of the balance sheet season. Technically, if the index, which is dependent on the rising channel movement on the first trading day of the week, can break the 13 100 level with its upward erosion, it can extend to 13 275 points. In a probable seller scenario, 12 765 – 12 590 will be a strong support zone.
