ndxusd

The Nasdaq Index continued its rise due to strong performance in technology stocks and increasing expectations for interest rate cuts from the Fed. The index, which is hovering above the pivot level of 22844.94, is testing the resistance at 23397.99. The Service Sector PMI and ISM Non-Manufacturing Index data to be released this week are critical for technology sector stocks. If macroeconomic data comes in below expectations, it could bring more aggressive interest rate cut scenarios to the markets, potentially pushing the index to the resistance band of 23674.51-23951.04. From a technical perspective, in possible consolidation movements, the levels of 22477.03-22251.89 will form a strong support area. In the medium term, growth expectations in the artificial intelligence and cloud computing sectors, along with trends in trading volumes, are emerging as key factors shaping the index's performance.