Current trend

The leading index of US technology companies NQ 100 is showing corrective dynamics, standing at 14861.0 against new growth in the domestic bond market.

Friday’s employment data, instead of the expected increase in the number of people employed in the US non-farm sector by 170.0K, reflected an increase of 336.0K, which contributed to maintaining the unemployment rate in September at 3.8%. Some observers have speculated that the US Federal Reserve could return to tightening monetary policy to put further pressure on inflation but the Chicago Mercantile Exchange (CME) FedWatch Instrument stands by its early estimate, with a 78.8% chance of keeping rates unchanged at its November 1 meeting.

The bond market remains at all-time highs, with the popular 10-year bond holding at 4.748%, its highest level since 2007, global 20-year bonds up 0.41% at 5.160%, and 30-year bonds reaching 4.960%, up 0.360%.

The growth leaders in the index are PDD Holdings Inc. ( 7.40%), CrowdStrike Holdings Inc. ( 6.90%), Zscaler ( 6.71%), and Atlassian Corp. ( 6.05%).

Among the decliners, are Mondelez International Inc. (–2.63%), Costco Wholesale Corp. (–2.11%), Walgreens Boots Alliance Inc. (–1.67%), and Sirius XM Holding Inc. (–1.14%).

Support and resistance

On the daily chart, the trading instrument is declining within a local downward corridor with dynamic boundaries of 15300.0–14100.0.

Technical indicators maintain a stable sell signal, despite the local correction: fast EMA on the Alligator indicator are below the signal line, and the AO histogram forms corrective bars in the sell zone.

Resistance levels: 15100.0, 15600.0.

Support levels: 14550.0, 13900.0.

Trading tips

Short positions may be opened after the price declines and consolidates below 14550.0 with the target at 13900.0. Stop loss – 14800.0. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 15100.0 with the target at 15600.0. Stop loss – 14900.0.