NDXUSD

Today is a kind of validation day for the Nasdaq 100, which is the star of the week and pricing the "soft landing" scenario most strongly. A moderate PCE data release at 3:30 PM will create an excellent environment for tech stocks by reinforcing the idea that interest rate hikes are over and the focus has now shifted to cuts, ensuring the continuation of the rally in the index. However, a hot inflation data could shatter all the optimism built up throughout the week, reigniting concerns about interest rates and potentially pulling the index down with a sharp profit-taking, especially in technology stocks.