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Published: 12 November 2026,08:24
Daily Market Analysis New
*Wall Street’s initial gains following the Democratic House victory have faded as investors reassess the broader economic outlook.
*Hotter inflation and hawkish Fed signals have boosted the US dollar and rate-hike expectations, putting pressure on equity valuations, particularly growth and technology stocks.
*Persistent inflation could sustain dollar strength and limit equity gains, while softer data may ease tightening concerns and revive bullish momentum.
Wall Street initially cheered the U.S. midterm election outcome in which Democrats secured a majority in the House, delivering a post-election bounce that lifted all three major indices. The prospect of divided government was viewed as reducing the risk of extreme policy shifts and provided a temporary lift to risk appetite. However, that early enthusiasm has moderated, with price action in recent sessions turning more cautious and the initial bullish momentum fading as investors reassessed the broader macro backdrop.
A key development weighing on equities has been the marked strength in the U.S. dollar, which has climbed toward multi-month highs. The advance in the greenback reflects growing market conviction that the Federal Reserve will maintain a tighter monetary policy stance. Hotter-than-expected inflation readings and hawkish signals from policymakers have reinforced expectations of further rate increases, including a high probability of a December hike. Higher interest rates and a stronger dollar typically compress equity valuations, particularly for growth-oriented sectors, and have contributed to the more restrained performance across the Dow Jones, S&P 500 and Nasdaq.
In the near term, the U.S. equity market is likely to remain sensitive to shifts in rate expectations and dollar direction. Any confirmation of sustained inflationary pressure would keep upward pressure on yields and the dollar, limiting upside potential and potentially extending the period of consolidation. Conversely, softer economic data that eases concerns about aggressive Fed tightening could allow indices to regain momentum. Geopolitical developments and sector-specific catalysts, especially in technology, will also influence sentiment. Overall, while the midterm result provided short-term relief, the combination of dollar strength and tighter policy expectations suggests a more measured and potentially volatile path for Wall Street in the sessions ahead.
Technical Analysis
Nasdaq, H4:
The Nasdaq extended its recovery toward the critical 28,850 level but encountered renewed selling pressure and was unable to secure a breakout. The index is now undergoing a technical retracement below this pivotal resistance, indicating that bullish momentum remains insufficient to reverse the broader trend.
A continued failure to reclaim and hold above 28,850 would suggest that the recent advance was corrective and that the Nasdaq remains within its prevailing downtrend.
Under this scenario, renewed selling pressure could push the index back toward its previous low near 26,300. Conversely, a decisive break and sustained close above 28,850 would weaken the bearish structure and provide stronger evidence of a broader bullish reversal.
Resistance Levels: 28,850.00, 29,860.00
Support Levels: 27,080.00, 26,280.00
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