FX.co ★ Death-X-PK | #NDX Navigators: Decoding Nasdaq-100 in Forex!

Nasdaq 100 Index 4-H Time Frame Update Despite markets persisting bets on a 50 basis point Fed rate drop, US stock futures saw a little decline on Friday, September 12. After Mexico announced plans to increase tariffs on auto shipments from China from 20% to 50%, China responded. Mexico is the biggest exporter of automobiles to the United States and serves as a major center for Chinese automakers such as MG Motors, BYD, and Chery. Trade hostilities might be rekindled by higher tariffs, particularly if the US administration masterminded the proposed tax increase. President Trump is reportedly pressuring the EU to increase tariffs on China to 100% and promising to replicate the EUs levy on Chinese goods, according to the most recent tariff news. Vietnam consented to a 40% tariff on third-party transshipments in July, which may have been directed against China. One of Chinas most important trading partners in Southeast Asia is Vietnam. Early Friday morning trading saw a decline in US stock futures following overnight record highs for the major indexes. The Dow Jones E-mini fell 24 points, the S&P 500 E-mini fell 5 points, and the Nasdaq 100 E-mini fell 15 points. As attention turns from inflation to tariffs, speculations on Fed rate cuts mitigated the decline in US stock futures. Expectations of further Fed rate reduction were also supported by the swiftly cooling US labor market. The short-term bias is still optimistic in spite of the morning losses. Bullish momentum, however, is dependent on trade events, recession fears, and the Feds next monetary policy decision. Resistance: September 11 record high of 24,046 and 24,500. Support: 23,500, the 50-day EMA (23,285), and 23,000.