S&P 500, Nasdaq 100 Dive Ahead of the critical US Inflation data, start of the upside.

S&P 500 AND NASDAQ 100 FORECAST:

  • U.S. stocks traded at the start of the week amid sentiment of a weaker market ahead of critical economic data and the official start of the second -quarter earnings period.
  • S&P 500 fell 1.15%, Nasdaq 100 fell 2.2%
  • This article looks at the key technology levels to look for on the Nasdaq 100 in the coming days.

Read More: S&P 500, Nasdaq 100, Dow Jones Technical Forecast for this week

U.S. stocks fell on Monday amid speculation by investors amid fears earlier. Important economic data and the official start of the available period. As the market closed, the S&P 500 fell 1.15% to 3,854, with communications, consumer and information technology leading the decline. The Nasdaq 100, for its part, fell 2.1% to 11,860, despite a slight pullback in the U.S. Treasury yield. Meanwhile, the Dow fell 0.52% to 31,173, ahead of its Wall Street counterparts, but lacks the time necessary to end up in good land.

Looking ahead, Consumer statistics from the US, for being released on Wednesday to steal the limelight this week. In terms of agreement, June saw an increase of 8.8% yoy from 8.6% yoy in May, respectively. While some analysts believe the CPI could head strike 9%, the highest level since November 1981.

Any further tremors, join with hard labor market, could give the Federal Reserve cover to continue rising strong credit prices until 2023 even if Wall Street slowly prepares for a policy pivot. Leading the way for interest rates to continue to rise, volatility will increase, reducing risk appetite and preventing equities from achieving a reversal.

The official start of the second quarter reporting period will get a lot of attention this week, with make up results from JP Morgan Chase (JPM), Morgan Stanley (MS), Wells Fargo (WFC) and Citigroup (C) are the most popular. Commercial banks and investors have first -hand knowledge of the economy, so investors need to be aware of their numbers, but their leadership.

With the economic decline that lowers demandIncreasing margins and strong funding hurting multinational assets, implementing quarterly and foreword is likely to be offensive, paving the way for disruption increasing EPS indicators for the broad market, a trend that could raise the next leg below equity. wide. Despite the growing headwinds, Wall Street analysts haven’t downplayed the business’s earnings in the public eye, but negative corrections could be reversed. When that was done, the The S&P 500 and Nasdaq 100 may be involved for additional losses.

NASDAQ 100 RULES

The Nasdaq 100 jumped last week, rising more than 4%, but could not clean up against the group’s 12,175/12,225. Arriving at this point, prices quickly went down and started to decline again as consumers resumed their association amid lack of confidence in the ability to buy. technology continues to win. If the low level rises in the coming days, initial support will be seen at 11,500, followed by 11,325. On further weakness, the sentiment has shifted to 2022 lows.

On the other hand, if buyers are going to take the hit stocks and trigger a bullish reversal, the first resistance is expected to be seen at 12,175/12,225. If prices break above this barrier, the index could go on to retry the 12,600 mark.

NASDAQ 100 PAPA

S&P 500, Nasdaq 100 Dive Before the critical US Inflation data, start of the gain season.

Nasdaq 100 Chart is prepared using TradingView

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— Written by Diego Colman, Market Strategist for DailyFX

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