Fed's Daly: Decision to Hold Rates Steady at July Meeting Was Correct

A Federal Reserve official's support for holding interest rates steady could limit risk appetite in the near term. GOOGL shares are trading below their 20-day moving average, with an RSI of 46 indicating weak momentum. The MACD remains below its signal line, suggesting sustained selling pressure. Despite a 1.8% gain at the last close, technical indicators do not support an upward breakout. Therefore, the likelihood of a short-term downward correction is seen as moderate.

A Federal Reserve official's support for keeping interest rates unchanged could reduce market uncertainty regarding current monetary policy, but it does not signal any new easing. The index's 3.2% rise over the last 24 hours and RSI at 66 indicate that it is approaching overbought territory in the short term. The MACD remaining below its signal line suggests that momentum is tending to weaken. Therefore, the impact of the news may be limited, and the index is likely to move sideways at current levels.

A Federal Reserve official's endorsement of keeping interest rates unchanged could foster confidence that the current policy stance will be maintained. The NDX index has risen 4.1% over the last 24 hours, with its RSI at 62, approaching overbought territory. The MACD remains below the signal line, suggesting that momentum may weaken in the short term. Price is above the SMA20 and well above the SMA50, but profit-taking could occur after this rapid ascent. As the news flow has not triggered a clear directional shift, the index is expected to move within a sideways range.