NDXUSD

A series of economic data will be decisive for the Nasdaq 100 index, which is dominated by technology stocks. The US first quarter GDP data, to be released on Wednesday, is expected to decline to 0.4%, which could pose a risk for technology stocks. The slowdown in Personal Consumption and inflation data may be positively received with the expectation that it could create room for Fed rate cuts. The expectation that non-farm payrolls, to be announced on Friday, will drop to 129,000 may also indicate a slowdown in the technology sector. The balance sheet results of major technology companies like Alphabet and Microsoft, which have been released, will be other factors determining the direction of the index. Hourly closes above the 19367 pivot level could support movement towards the 19630 resistance. It can be said that trading is occurring close to intraday levels and the upward potential continues.