Market Awaits Data and Fed Insights Amid Nasdaq Consolidation
Investors Focus on Economic Data and Fed Speeches
On Monday, investors will be closely monitoring key economic data from the service and manufacturing sectors. Additionally, speeches from Atlanta Fed President Raphael Bostic, Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari will be watched for clues on the Federal Reserve's next policy moves.
Technical Analysis:
The Nasdaq is currently consolidating between 19,970 and 19,690. A breakout above 19,970 would signal a bullish trend towards 20,500. However, if the index remains below 19,970, it is likely to test 19,690, with a break below this level confirming a bearish trend targeting 19,370.
Key Levels:
Pivot Point: 19,870
Resistance Levels: 19970, 20120, 20500
Support Levels: 19535, 19370, 19160
Trend:
Consolidation: 19,970 - 19,690
Bullish: Above 19,970
Bearish: Below 19,680
On Monday, investors will be closely monitoring key economic data from the service and manufacturing sectors. Additionally, speeches from Atlanta Fed President Raphael Bostic, Chicago Fed President Austan Goolsbee, and Minneapolis Fed President Neel Kashkari will be watched for clues on the Federal Reserve's next policy moves.
Technical Analysis:
The Nasdaq is currently consolidating between 19,970 and 19,690. A breakout above 19,970 would signal a bullish trend towards 20,500. However, if the index remains below 19,970, it is likely to test 19,690, with a break below this level confirming a bearish trend targeting 19,370.
Key Levels:
Pivot Point: 19,870
Resistance Levels: 19970, 20120, 20500
Support Levels: 19535, 19370, 19160
Trend:
Consolidation: 19,970 - 19,690
Bullish: Above 19,970
Bearish: Below 19,680
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