DislikedEnd of day analysis! {image} We got an irrelevant daily close. Tomorrow, we have PPI data. NQ will behave in the same CPI manner: 1- Overshoot: NQ down; 2- Inline or Undershoot: A bounce and down (zigzag). What I want to highlight is that the current area 19100-19600 seems to become ST/MT Support or Resistance. Hence price might continue to be around it until the end of the week and the next few days. When price will break it, it will give the sign of next direction: 1- Recession, inflation and tariffs are all negative factors. NQ should continue...Ignored
I assume you have already seem this, but this article by a JP Morgan analysts puts recession at 40% chance.
https://www.forexfactory.com/news/13...s-recession-jp
I am not sure if points like "stopping the war, some benefits from the current president, etc" can IN TIME prevent recession. Not sure why CPI came down, but basic things like grocery items have gotten expensive. In the end the tariffs have to be passed on to the consumers !! We don't use moving averages in thie thread, but indices are at/below the 300 EMA. The daily chart smells trouble to me !!
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