NDXUSD

While the technology index Nasdaq searches for direction around the pivot level of 24,529, the main focus of the market is on the employment data to be announced on Friday. Today's ADP Non-Farm Employment and ISM Manufacturing PMI data will provide significant clues to the market ahead of this critical data. Weaker-than-expected data could indicate a cooling in the economy, strengthening expectations for a Fed rate cut, which could create a positive environment for tech stocks and target the resistance at 24,981. Conversely, strong employment and manufacturing data could maintain "hawkish" Fed expectations, putting pressure on the index and triggering a pullback towards the supports at 24,584 and 24,225.