Nasdaq Technical Analysis – Incredible rally after the US CPI report ...Middle East

Fundamental OverviewYesterday, we got the US CPI report and, although as expected it didn’t have the same large impact as it used to, the core m/m figure surprised to the upside. The data triggered a repricing in interest rates expectations with the market now seeing just a 13% probability of a 50 bps cut at the upcoming FOMC meeting and less easing further out the curve. That weighed on the market initially but as soon as the European session came to an end, we saw an incredible reversal that pushed the price above the US NFP high of last Friday.Right now, it looks like the Fed is going to cut rates into a resilient economy, which is generally a positive driver for the stock market but keep

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