NDXUSD

The Nasdaq 100, which is the most sensitive index to interest rates, is hovering just above the pivot level of 24099.87, focused on Fed Chairman Powell's speech on Tuesday and the Core PCE inflation data on Friday. If Powell provides dovish signals and the inflation data meets expectations, it will strengthen growth expectations in technology stocks, quickly pushing the index towards resistance levels of 24123.70, 24159.34, and 24202.25. However, any messages from Powell indicating a hawkish stance and hotter-than-expected inflation data could trigger a sharp wave of profit selling in technology stocks, pulling the index back towards support levels of 24049.82 and 24020.53.