ANALYSIS
NQ100 Finds Support from PPIApr 14
Positive Air in NQ100 is Preserved
It is seen that the positive mood in the NQ100 index continues to be preserved before the moderate decreases in the dollar and the midterm elections in the USA. In addition, last Friday, although the nonfarm payrolls (NFP) reported by the US Department of Labor exceeded the expectations of 200,000 people in October, by 261,000 people; with the unemployment rate rising by 3.7% from the lowest level in the last 50 years, the effects of the evaluation that the FED could raise interest rates by 50 basis points at the December meeting still continue. Under this outlook, if the technology index, which is in preparation for a descending wedge formation, exceeds the 11 100 level permanently, a rise can be seen up to 11 220, which is marked by the Fibonacci 61.8% retracement line, with the completion of the formation. In possible retreats, 10 835 and 10 700 support may be in question.
