ANALYSIS
NQ100 Finds Support from PPIApr 14
The Losses May Continue in NQ100
According to IHS Markit and S&P Global data, the composite purchasing managers index (PMI) fell to 44.6 points in August, indicating that economic activity is still declining, boosting recession fears in the country. Furthermore, the dollar, which has been strengthened by the possibility of a 75 basis point increase in interest rates by the US Federal Reserve (FED) against inflation, which has fallen from a 41-year high, continues to put pressure on relatively risky assets. The US 10-year bond yields have risen to the level of 3.33%. Technically speaking, the NQ100 index, which maintains its downtrend on the third trading day of the week, can target 11 725 support, which is indicated by the Fibonacci 61.8% expansion line, in the permanent transitions below the 11 850 level. If above, 12 105 – 12 240 can operate as a stabilization zone.
