ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Tries to Rebound With China's Support Package
Risky assets were under pressure as the dollar strengthened as a result of the US Federal Reserve (FED) officials' approval of a 75 basis point interest rate increase in September, even though inflation was still high but had dropped from its 41-year high. Today, however, the recovery in risk appetite is reflected positively on the NQ100 index, with the Chinese State Council's announcement of a new $146 billion stimulus package to meet its receding growth target. Technically speaking, the 13 280 resistance, which is indicated by the Fibonacci 50.0 percent correction line, can be reached if the technology index, which ends the descending channel movement and has started to wear upward, can consistently surpass the 13 160 level. Below, 12 920 and 12 800 supports will be followed.
