Business

Nasdaq 100 ticks, Powell presser after FOMC rate decision

Nasdaq 100 Price Forecast:

  • NS Nasdaq 100 ticks higher following July FOMC Interest rate decisions as equity seeks to enjoy an ongoing accommodative background
  • Elsewhere, strong technology revenues are helping to justify the current assessment
  • Market participants can focus on the flow of future revenue reports to gain further influence.

Nasdaq 100 ticks, Powell presser after FOMC rate decision

The Nasdaq-100 is at a pace to close Wednesday’s trading slightly higher, FOMC event that caused the US dollar to appreciate – Generally a sign of hawkish thinness. Initial takeaways and pricing behaviors are a big mix, but meetings and subsequent press conferences have little indication that the background that stocks have enjoyed for more than a year suddenly deteriorates. However, Nasdaq 100, Dow Jones When S & P 500 You might expect it to continue to rise in the coming weeks.

As a result, price behavior may enjoy progress compared to recent sessions, as major event risks have passed and traders can look to future returns for future catalysts. there is.In addition, recent earnings suggest that large tech stocks may continue to dominate as Microsoft, Apple and Google. After trading on Tuesday, we had impressive quarterly results.Combined with a background of ongoing monetary policy and strong earnings, the Nasdaq-100 has strong fundamentals backing for August.

Nasdaq 100 Price Chart: 1-Time Frame (June 2021 – July 2021)

From a technical point of view, early resistance may be in line with the recent record of the 15,150 shy index, where collections of uptrend lines intersect. If risk appetite declines and prices fall, levels have not yet been confirmed, but early support may be gained from the trendline forecast of lower swings on July 19th in the index.

Nasdaq 100 Price Chart: Daily Timeframe (August 2020 – July 2021)

Nasdaq 100 ticks, Powell presser after FOMC rate decision

In the long run, the Nasdaq 100 is trading near the top side of the ascending channel, which has helped to raise the index since September and may provide considerable support towards the low side of the range. However, moving to the bottom of the channel constitutes an important technological development, which may require a reassessment of the landscape. However, until such a break occurs, the Nasdaq-100 may enjoy a modest tailwind in the coming weeks.In the meantime, follow me @PeterHanksFX On Twitter for updates and analysis.

-Written by Peter Hanks, Strategist For DailyFX.com

Contact Peter on Twitter to follow @PeterHanksFX



Nasdaq 100 ticks, Powell presser after FOMC rate decision

Source link Nasdaq 100 ticks, Powell presser after FOMC rate decision

Related Articles

Back to top button