USNAS100 (Stocks sober up but rate cut party lives on)

USNAS100 OVERVIEW

Fresh economic data topped forecasts, with existing home sales unexpectedly rising while the CB consumer confidence rose by the most since early 2021.

Conversely, FedEx plunged 12% after lowering its full-year revenue outlook and reporting disappointing quarterly results.

Stocks sober up but rate cut party lives on

Perhaps investors are shutting up shop for the year, or taking some of their profits off the table before Friday's U.S. inflation data. The Nasdaq 100 is up 51% for the year, despite Wednesday's 1.5% slide.

Technically:
now will try to reach 16750 and then as long as trades under it will fall till 16560

stability above 16770 will be a bullish trend to reach 16900

pivot line: 16740
Support price: 16560 & 16400 & 16190
Resistance Price: 16800 & 16890 & 17050

Its range for Today will be between 16770 and 16560