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NAS100 (NASDAQ): New record high
- New record high above 24797 and back into unchartered territory.
- IF 24800 becomes new support, obvious target is 25000.
- Below 24800 would cool risk but only sub-24425 would negate it.
One thought is with US data delayed due to the government shutdown there is little to change expectations of an October Fed rate cut
NAS100 4 HOUR CHART
US500 (SP500) Breakout into unchartered territory
New record high at 6720
When in record high territory focus is on former high (6702) as support and new record high (6720) as only resistance,
If 6702 becomes support talk will shift to 6800 as a target.
Below 6702 would only cool risk, only sub=6731 would negate it.
US500 4 HOUR CHART
ISM PMI mixed bag: Slight beat, prices paid down, employment up, new orders down
ISM PMI mixed bag: Slight beat, prices paid down, employment up, new orders down
As you saw with the reaction to the ADP report, markets remain hyper-sensitive to US data, especially now with the government shutdown creating a dearth pf key data.
Up next up
- S&P Global final MFG PMI
- ISM MFG PMI
See our Economic Data Calendar
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