Nasdaq 100 side-lined in low volatility ahead of Fed rate cut
The Nasdaq 100 remains side-lined ahead of Wednesday’s probable first Federal Reserve (Fed) interest rate cut in over four years, having last week rallied by nearly 6%, and having regained practically all of its 22 August-to-September losses.
The index continues to flirt with its July-to-September downtrend line at 19,435 which currently acts a support. Above Tuesday’s high lies the 19,631 late August high. If this level were to be bettered, the August peak at 19,938 would be back in sight.
Potential slips below Monday’s 19,288 low may find support around the late August 19,081 low.
