ANALYSIS
NQ100 Finds Support from PPIApr 14
The 'Golden Cross’ Movement is Preserved in DOW30
Markets have entered the critical FED week. The rebound trend of the dollar is a bearish factor for stocks. However, the fact that the PCE Deflator, known as the FED's inflation indicator, confirmed that the peak was left behind with a level of 6.2% in September last Friday, brought buyers to the stock market, creating the expectation that the bank will increase interest rates by 75 basis points for the last time in November, and then reduce the rate of monetary tightening. Technically speaking, it is clear that the 'Golden Cross' movement is preserved in the DOW30 index. As long as the 50-period weighted moving average (WMA) holds above the 200 WMA permanently, the index is likely to recover to 33 300, above 32 955. On the other hand, it is unlikely that the index will head to a retracement path unless it breaks 31 895 support below 32 235.
