US stocks are under pressure as investors ignored the good data on orders for durable goods, and expressed concern about a decrease in the price of raw materials, large-scale sale of shares in China, as well as the drop in the index in Europe.
Orders for durable goods, released today, were better than expected due to the placement of large orders in the aircraft industry. However, the core index (the purification from volatile components) significantly exceeded analysts’ forecasts. The increase amounted to 0.8% compared with the previous month, with a median forecast of 0.4%. The US economy seems to have good starts to the third quarter.
Stock index NASDAQ 100 feels support in the level of 4500. Around this area is, and SMA-200 in the four-hour chart. Deviation from the SMA-50 in the hourly chart has reached the lowest level since June. We believe that at these relatively low levels of the tool is attractive for shopping.
|Nasdaq 100 chart|
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