Nasdaq - Buy MoreTarget: 23,050
Stop: 16,700
Partial: 20,800
b]Key Considerations:
Fed meeting on September 18th
Traders are positioning themselves ahead of the announcement regarding the drop in the interest rate a 75% probability of a 0.25% drop.
USA is the last cab on the rank that has not dropped yet, they may think we are the big boys, we do what we want, when we are ready, we don't care what other countries are doing, we are the leaders, we don't follow, we lead, so we may even wait 1 more time, just to pretend we are being prudent and methodical, but really it's just because we don't want to look like we are sheep.
Or they could go ahead and drop but I think it will get to all-time highs between now and 4 weeks away anyway.
Any good news from the Fed will drive the Market up NASDAQ runs on Buy the Rumor and Buy the Fact.
If the Fed does drop rates this will significantly impact the Nasdaq and broader markets.
