ANALYSIS
NQ100 Finds Support from PPIApr 14
The Possibility of Decline in NQ100 Continues
Inflation data continues to echo in the US stock market. Especially with the PCE Deflator announced last week exceeding the market expectations, there were concerns that the FED's rate hikes would take longer than the Autumn forecasts. This situation strengthened the dollar and put stocks under pressure. Technically speaking, the NQ100 index appears to be defending the Fibonacci bearish fan lines. As long as the 12 220 points level indicated by the 50-period simple moving average (MA) above is not exceeded, the possibility of the index falling to 11 775 points behind 11 920 in the Fibonacci 3rd bearish wave will continue to remain. In the surprise pass above 50 MA, 12 380 points can be followed.
