ANALYSIS
NQ100 Finds Support from PPIApr 14
US Economy couldn’t avoid recession: US indices started to suffer
According to the preliminary data released by the US Department of Commerce today, Gross domestic product (GDP) shrank by 0.9 percent year-over-year in the second quarter, despite market expectations for a 0.5 percent increase. The US economy, which contracted by 1.6 percent in the first quarter, thus, couldn’t avoid the recession. DOW30 index gave today’s earnings back. On the other hand, as the Fed carries the expected real return of the dollar to the neutral zone, while the purchases for DOW30 with high risk sensitivity are likely to be overshadowed, we will closely monitor 31 920 support. In case, this level, which is a strong support, can be broken with permanent closes, the depreciation can continue to 31 230 and 31 590, which was last seen on July 19. In possible upward movements, 31 520 and 31 865 resistances will be on our radar.
