“Nasdaq's Target is 19,500”Today, there is an expectation of a 25 basis point rate cut in the Fed meeting. By the end of the year, a total rate cut of 100 basis points is almost certain. This situation leads to a positive risk appetite being effective on the indices. On the U.S. side, retail sales increased by 0.1%. Meanwhile, industrial production in the U.S. pointed to a positivity exceeding expectations with a 0.8% rise.
Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.
