FundamentalOverviewThe uncertainty about aDecember cut has been putting a lid on further stock market gains. Theprobability for a December cut is now a bit below 50%. It’s still basically a50/50 chance, but we will likely need soft labour market or inflation data toget the Fed to cut at the upcoming meeting. In fact, there’s a strongdebate within the FOMC whether a December cut is warranted at this point. Thedata will have the final say, and the decision maker will likely be theNovember NFP expected to be released in the first week of December just a fewdays before the FOMC meeting. Strong data is likely toweigh on the market on a further hawkish repricing, while soft data should givethe market a boost as rate cut bets would increase. NasdaqTechnical Analysis – Daily TimeframeOn thedaily chart, we can see that the Nasdaq bounced againaround the major trendline. If we get another drop, we canexpect the dip-buyers to step in there again with a defined risk below the lowto position for a rally into new all-time highs. The sellers, on the otherhand, will want to see the price breaking lower to increase the bearish betsinto the 24,157 level next.Nasdaq TechnicalAnalysis – 4 hour TimeframeOnthe 4 hour chart, there’s notmuch we can glean from this timeframe as we don’t have clear levels where tolean onto other than the above mentioned major trendline, so we need to zoom into see some more details.Nasdaq TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor support zone around the 25,000 level. If the pricepulls back into the support, we can expect the buyers to step in there with adefined risk below the support to position for a rally into the 25,850 levelnext. The sellers, on the other hand, will look for a break lower to increasethe bearish bets into the major trendline targeting a breakout. The red linesdefine the average daily range for today.Upcoming CatalystsTomorrow we get the weekly ADP jobs data. On Wednesday, we have the FOMC meetingminutes. On Thursday, we get the September NFP report and maybe the US JoblessClaims data. On Friday, we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.