NDXUSD

Retail sales in the U.S. and the NY Fed Empire State manufacturing index reported lower-than-expected results, raising concerns about a recession. Treasury Secretary Bessent finds market corrections healthy but has acknowledged the ongoing risks of a slowdown. These developments, along with continued declines in U.S. 10-year Treasury yields, have paved the way for gains in the NASDAQ100 Index.

The NASDAQ100 index continues to trade above the region supported by the indicators we are monitoring. When we technically assess short-term pricing, as long as it remains above the 19700 – 19800 region supported by the 21-period exponential moving average, upward expectations are likely to dominate. If the upward movement continues, levels of 20000 and 20150 may be encountered. However, for a negative trend, sustainability below the 19700 – 19800 region will be necessary.