NDXUSD

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