NDXUSD

The Nasdaq, which is heavily weighted with technology stocks, will be adversely affected by the decline in global risk appetite. The pivot level of 21768.06 is critically important. A movement below this level could pull the index towards the supports at 21661.43 and subsequently 21377.91. The messages from Fed Chairman Powell regarding interest rates, which directly affect the costs of technology companies, will be decisive for the direction of the index. The first resistance in upward attempts is 22051.58.