US Stock Market Record Streak to Be Tested by Inflation Data

Although NDX has risen 2.1% in the last 24 hours, the RSI at 55 indicates neither overbought nor oversold conditions. The MACD remains below the signal line, which could suggest weakening momentum. The price is trading below the SMA20 but above the SMA50, indicating that the medium-term trend is still upward. The news headline notes that inflation data will test the record streak, which could introduce uncertainty. In the short term, the direction is unclear, and a sideways movement can be expected.

GOOGL has declined 4.2% in the last 24 hours to $357.89, with the RSI dropping to 40, signaling weakening momentum. The MACD is in negative territory and below the signal line, indicating bearish short-term momentum. The price is trading below the 20-day moving average ($367.59) but remains near the 50-day average ($356.64). News headlines suggest that inflation data will be tested in the market, and this uncertainty could pressure high-valued tech stocks. In the short term, the price is likely to test the support zone of $356-$350, but buying support may emerge at these levels.

While the index trades at record levels, the RSI is around 60, which is positive but not in overbought territory. The MACD remains below the signal line, potentially indicating weakening short-term momentum. The price is just below the 20-day moving average, increasing the likelihood of a sideways trend. Investors may adopt a cautious stance ahead of inflation data, so directional uncertainty persists. Rather than expecting a sharp decline or rally in the short term, I anticipate a volatile range-bound movement until the data release.

The U.S. Dollar Index (DXY) is in oversold territory with an RSI of 21.6, having declined 0.35% over the past 24 hours, indicating weak short-term momentum. The MACD is below the signal line and negative, suggesting that the downward trend may continue. The price is trading below both the SMA20 and SMA50, supporting a bearish technical outlook. The news headline indicates that inflation data will be tested, and this uncertainty could add further pressure on the dollar index. However, given the oversold conditions, some corrective buying may emerge, so the confidence level is set to medium-high.