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Instrument: US100
Bullish Preference:
A buy position is envisaged if the price trades above 15312.44 With Take profit at 15372.48
Bearish Preference:
A sell position is envisaged if the price trades below 15219.47 with Take profit at 15149.74
Fundamentals:
1:30pm USD CPI m/m
USD CPI y/y
USD Core CPI m/m
USD Unemployment Claims
Comment:
Dow slides as sea of red in tech persists; inflation data eyed. The Dow fell Wednesday as the slide in tech continued, paced by weakness in chip stocks as investors remained wary of making bullish bets ahead of Thursday’s inflation report. Nvidia Corporation, Broadcom Inc, and Qualcomm Incorporated led chip stocks lower, with the latter coming under pressure after Daiwa Capital downgraded its rating on chipmaker to buy from outperform, citing worries about weaker demand. Daiwa Capital flagged several issues that were evident in the third quarter including weak consumer demand, particularly in China, and high inventory levels.
Analysis: SCRUM Team
