NDXUSD

Despite the profit margin pressures on technology giants, expectations of a Fed rate cut and the decline in the US 10-year Treasury yields are supporting the Nasdaq 100. Although Tesla's financial results were disappointing, Musk's promise to refocus on the company continues to bolster the stock price. The unemployment claims data released yesterday being in line with expectations has increased interest in technology stocks. The index is currently trading at the 19310 level. A close above the 19067 pivot level could support a move towards the 19651 resistance. However, if the 19067 support is broken, a pullback to the 18842 level could occur. The financial results of major technology companies to be announced next week will be decisive for the index's direction.