NDXUSD

President Trump's customs tax plans and foreign policies continue to exert downward pressure on the NASDAQ100 Index. After approving tariffs for Canada and Mexico, President Trump signed an executive order to review copper tariffs. Despite these developments, futures contracts are attempting to limit declines in the Index due to the effects of decreasing 10-year bond yields. Key data such as the Conference Board consumer confidence and the Richmond Fed manufacturing index are being monitored throughout the day.

The NASDAQ100 Index continues to trade below the observed indicators. Short-term technical analyses suggest a negative outlook as long as it remains below the 21500 – 21600 range supported by the 21-period exponential moving average. If the pullback continues, a movement towards the 21200 and 21100 levels may be seen. For a positive trend, the Index needs to establish permanent pricing above the 21500 – 21600 range; in this case, levels of 21700 and 21820 could come into play. Key levels of the day: 21500 – 21600 range.