Nasdaq Awaits Inflation Data; Bullish or Bearish Breakout Expect

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Nasdaq Technical Analysis

Today’s inflation report is anticipated to drive significant market movements, particularly following unanimous agreement among Fed members to cut rates by 50 basis points.

A CPI release exceeding 2.3% is expected to support a bearish trend towards 20100. Conversely, a CPI below 2.3% would likely drive a bullish trend, targeting 20450.

Technically: as long as trades under 20280 will try to touch 20100 and then should stabilize below that to continue the bearish trend,
Otherwise, stability above 20340 will reach 20450

Key Levels:
Pivot Point: 20280
Resistance Levels: 20440, 20710, 20920
Support Levels: 20100, 19990, 19860

Trend:
- Bearish below 20280
- Bullish above 20320