ANALYSIS
NQ100 Finds Support from PPIApr 14
The NQ100's Weak Start
On Friday, the US non-farm payroll (NFP) data increased by 315,000 in August, above market expectations. With the data showing that the labor market is tight despite some loss of momentum, the expectations that the FED will raise interest rates by another 75 basis points at the critical September meeting continued to weigh on the NQ100 index. Technically speaking, the psychological level of 12 000 will be followed closely in the technology index, which continues its downward trend in the first quotes of the week. For permanent transitions below this point, 11 845 support, which will be the lowest level of about 2 months, may be tested. 12 260 resistance can be followed above.
