🔽 US stocks under pressure after NFP data!

Today's sentiment was weighed down by better-than-expected data from the US labor market, which supports the Fed's actions regarding monetary tightening. Today's report reduces the chances of a so-called pivot by the Federal Reserve, at least for now. Also of note was a warning from AMD (AMD.US), which slashed earnings forecasts as a result of weak demand and logistical problems

The U.S. technology index is down nearly 3% during Friday's session. Looking at the chart of the US100, the quotation has impetuously broken below the support zone of 11350-11380 points, which, according to the assumptions of classical technical analysis, indicates the possibility of a continuation of the downward movement. If the sentiment does not change, even a return to the October 3 minima at 10900 points is not excluded. If, in turn, a correction were to occur, the aforementioned zone should be treated as important resistance.

US100 H1 interval. Source: xStation5