After Fed Chairman Powell shared his optimistic expectations for the economy at the FOMC meeting, indices closed the day in positive territory. While the Fed revised its growth expectation downwards in its future projections, it revised its inflation expectation downwards. In addition, after the Fed, which was expecting an increase in the unemployment rate, the markets were somewhat uneasy. In the general scenario, the Fed, which is considering reducing the bond purchase program, did not mention a clear start date for this step, but pointed to the middle of 2022 as the end date of the program. In addition, in the Fed's interest rate projection, we saw that the 2023 rate hike expectation was updated as 2022.
While the general course of the data announced in the last period on the US side was partially positive, we saw that the weekly unemployment benefits increased by 351,000, above the expectations. We see that the indexes, which started the week with sellers, especially with the default risk triggered by China's major real estate company experiencing debt crisis, are on the way to compensate for their slight losses towards the end of the week. In addition, it can be said that the risk appetite in the markets weakened after the US President Biden's increased uncertainty about the stimulus package and the US House of Representatives approved a bill that will suspend the debt ceiling for more than a year on Tuesday.
Even though the Nasdaq index retreated to 14,800 with the weakening risk appetite in the markets after these developments, it accelerated its attacks against the 15,380 resistance with the return it experienced from this level. However, on the last trading day of the week, it is seen that it accelerated its attacks towards the level of 15.180 with the decline it experienced due to global sales pressure. Especially if the index sags below this level, it can be expected to accelerate its declines within the framework of the 15,000 and 14,800 support levels. In a possible buying potential, we first follow 15.380, 15.600 and 15,827 resistance levels above this level.