FundamentalOverviewThe Nasdaq remainssupported by the current US government shutdown as it keeps bearish risks away.In fact, the delay of key US data like the NFP is keeping monetary policyexpectations steady and doesn’t give the Fed members much to work with. As long as the Fedcontinues to cut interest rates and keeps a dovish reaction function, the stockmarket will remain skewed to the upside on steady growth expectations. Whatcould trigger a bigger pullback is a hawkish repricing in the current interest ratesexpectations. That will require strong labour market data though, or clearinflation re-acceleration (will likely need Core PCE above 3%). NasdaqTechnical Analysis – Daily TimeframeOn the daily chart, we can see that the Nasdaq bounced around the previousall-time high at the 25,000 level which acted as support. If we get anotherpullback into the support, we can expect the buyers to step in again with adefined risk below the support to keep pushing into new highs. The sellers, onthe other hand, will want to see the price breaking lower to target a deeperpullback into the 24,400 level next.Nasdaq TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have a minor upward trendline defining the bullish momentum. If weget a pullback, we can expect the buyers to lean on the trendline with adefined risk below it to keep pushing into new highs, while the sellers willlook for a break lower to pile in for a drop into the 24,400 level next.Nasdaq TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor support zone around the 25,260 level. The buyers willlikely step in there with a defined risk below the support to position for arally into new highs. The sellers, on the other hand, will look for a breaklower to target a drop into the 25,000 support. If the momentum remains strong,we can expect the buyers to pile in on a break above the counter-trendlinearound the 25,350 level. The red lines define the average daily range for today.Upcoming CatalystsToday we have Fed Chair Powell speaking,while tomorrow we conclude the week with the University of Michigan consumersentiment report. This article was written by Giuseppe Dellamotta at investinglive.com.