NDXUSD

Although the Nasdaq Index slightly rose yesterday with the moderate data following the CPI, today's PPI announcement will be decisive for Nasdaq pricing. If the data comes in above expectations, it could lead to a delay in Fed rate cut expectations and put pressure on the Nasdaq. Support levels are 22441.64 – 22553.26 – 22664.89; 22888.14 is the pivot; and resistance levels are 22955.88 – 23111.39 – 23223.01. It could be a day where direction may change rapidly depending on the US PPI.