Wed, Feb 01, 2023 @ 19:10 GMT
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Nasdaq 100 Tests Critical Floor

The Nasdaq 100 bounces as signs of a cooling US labour market eases concerns about a hawkish Fed. On the daily chart, a U-turn from mid-September’s sell-off point (12200) was disconcerting. With the price having retraced all the way back to the start (10620) of the November rally, the index could be vulnerable to renewed selling. A break below 10450 would confirm a dead cat bounce and cause a sustained bear market. 11130 is the first resistance and 11280 a key level to lift before buyers could turn the situation around.

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