NDXUSD

The GDP data for today and the trend in US bond yields will have an impact on the short-term direction for the Nasdaq 100 index. If the growth data exceeds expectations but triggers inflationary concerns, it could create a complex effect on technology stocks. Technically, the support level of 23397.99 remains significant. As long as it stays above this level, there may be reaction purchases towards the resistance of 23674.51. However, an acceleration in the rise of interest rates keeps the risk of a pullback towards the support level of 22844.94 alive by creating selling pressure on the index.