NASDAQ with chart bottom?

NDX is trading close to a double bottom and underneath a significant trendline that describes the recent bearish trend since the beginning of 2022.

I plotted the FED FUND RATE at the bottom of the chart. With the start of higher interest rates, the NDX fell continuously.

Will a change in CPI data later today also lead to a change in trend direction in NDX?

However, looking at early 2020 (green box), the NDX initially fell after the lowering of the interest rate.

Therefore, the relationship between the two is not always that straightforward, and traders should cautiously approach the CPI release.