Nasdaq - 80% Probability Higher - GTP

27 set 2024

Reasons for Target (21,325) Being Hit:

• Strong Uptrend: The market is clearly forming higher highs and higher lows, indicating strong bullish momentum.
  
  
• Momentum: Buyers are currently in control of the market, with price action continuing to push higher.
  
  
• Interest Rate Expectations: Fed estimates of 2 more drops before Xmas which will provide further support for tech stocks and indices like Nasdaq.
  
  Risks/Barriers to the Target:
  
• Resistance at 20,750: A key resistance level could prevent the price from advancing quickly. Consolidation or a pullback might happen here.
  
  
• Macroeconomic News: Unexpected news (like inflation data or Fed comments) could cause short-term volatility, impacting the trend.
  
  

Probability of Hitting 21,325:

• Estimated Probability: 80/100
  
• This high probability assumes continued market momentum, favorable macroeconomic conditions, and successful breaks of nearby resistance levels.