US Services Sector Growth Slows as New Orders Hit Three-Year Low

Although GOOGL shares rose 3.8% in the last close, the RSI at 68 is approaching overbought territory. The MACD remains below the signal line, which could indicate weakening short-term momentum. Headlines suggest that a slowdown in the US services sector may heighten economic growth concerns. While technical indicators do not point to a strong directional move, macroeconomic data could pressure equity markets. Therefore, a sideways trend is expected in the near term.

The slowdown in services sector growth and the decline in new orders to their lowest level in three years point to a cooling in economic activity. This could create short-term selling pressure as it signals a slowdown that the market had not previously priced in. Technically, the RSI approaching 70 indicates overbought territory, while the MACD crossing below its signal line confirms a loss of momentum. In the short term, the 7365 level (20-day SMA) can be watched as the first support.

Although NDX has recorded a strong 4.17% gain in the last 24 hours, its RSI has entered overbought territory at 78.79. This increases the likelihood of a short-term correction or profit-taking. The headline notes that growth in the US services sector has slowed, with new orders falling to a three-year low. This macroeconomic data could dampen market optimism and make it difficult for the index to sustain its rally. While the MACD remains positive, the overbought signal and negative news support a potential downward move in the near term.

The US Dollar Index (DXY) is trading at 97.84, down 0.4% over the past 24 hours. The RSI at 33.8 is approaching oversold territory, while the MACD remains below the signal line and in negative territory, suggesting continued short-term weakness. The price is trading below both the 20-day (98.01) and 50-day (98.02) moving averages. The headline highlights a slowdown in US services sector growth, with new orders falling to a three-year low, which could dampen demand for the dollar. The combination of weak technical indicators and negative news flow points to a potential continuation of the downward trend for DXY in the near term.