Daily Analysis : NAS100 ( 03 Jan 2023 )

The Nasdaq100 closed the year down more than 30%. Today is the first trading day of 2023 for the US markets. On the Fed side, a 25 basis point increase is expected at the meeting in February. While recession and inflation concerns continue, macro-economic events will shape FED's decisions. Tesla's announced earnings report came below expectations. While Tesla stock is down around 4% in the pre-market, Nasdaq100 futures look slightly positive.

Technically, 10.820 – 10.650 regions stand out as a strong support. If it does not make a new low, and it does not break the 10.400 level, it can strengthen its upward movement by getting support from these regions for the third time and go up to 11.400 level (50-EMA).

Support: 10.820 – 10.650 – 10.400

Resistance: 11.160 – 11.265 – 11.400