Stocks Analysis by Investing.com (Damian Nowiszewski) covering: Nasdaq 100, DAX. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Nasdaq 100 keeps making new highs, but it looks like bulls have an appetite for more.Learn more here>>
The Fed's current projections, released in the dot plot, now point to only one rate cut this year, down from the three cuts initially expected. Despite this shift, the market, are facing a bearish onslaught. Key technical support levels have been broken, raising concerns that bears may control the situation for the foreseeable future.
If a correction does materialize, key support levels to watch lie between 19,200 and 19,000 points. This zone is further bolstered by an upward trend line. A decisive break below this support would be a significant signal of a deeper downturn, but that's seen as a less probable scenario at this time.The German DAX is experiencing a sharp correction, with the downward movement steadily gaining momentum.
The key factor influencing the DAX's direction will be upcoming macroeconomic data from the eurozone. This data will be instrumental in shaping the European Central Bank's monetary policy decisions for the latter half of 2024.This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counsel or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way.
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