Former Fed Member Miran's Inflation-Fighting Plan

Although SPX closed just above the 20-day SMA, it remains below the 50-day SMA. The RSI is neutral at 48.9, and the MACD is still negative but approaching the signal line, signaling a weak improvement in momentum. The news includes a former Fed member's inflation-fighting plan, which could revive rate hike concerns in the market, but the impact may be limited as there is no concrete policy change. Short-term direction remains uncertain, with a high probability of consolidation in the 7400-7500 range.

NDX fell 2.3% in the last 24 hours to 27,760. The RSI at 38.5 is approaching oversold territory, but the MACD line remains below the signal line and in negative territory. The price is trading below the 20-day (27,985) and 50-day (28,494) moving averages, indicating short-term weakness. A former Fed official's inflation-fighting plan could revive rate hike expectations, putting pressure on tech stocks. In the short term, the downtrend is likely to continue, though some buying may emerge due to oversold conditions.

The DXY is trading at 101.42, with the RSI at 47 in neutral territory and the MACD showing weak momentum below its signal line. The price is trapped between the 20-day and 50-day moving averages, indicating short-term direction uncertainty. A former Fed official's inflation-fighting plan could revive market expectations for rate hikes, but its impact may be limited without concrete steps. As technical indicators provide no clear signal, the DXY is expected to fluctuate within the 101.30-101.60 range.