We prepared for this. What's going on team, it's ricky with tack, bud solutions here with a quick little stock market update overall market uh for tqq is down 2.3, not a surprise and also think about it. It's not very much in the sense of tkq is a triple leverage etf. That means that nasdaq is down less than one percent, but think about it.

On wednesday we were up for tqq four percent. On thursday of last week, we were up eight to nine percent. On friday of last week, we were up nine to eleven percent, and then yesterday tuesday, we were up in a dish. All i'm sorry we weren't up yesterday.

It was break. Even i just made a little bit of money but um. This should not have come as a surprise right and i feel, like i've, been trying to preach and prepare for this. So first off did i want the market to pull on back heck? No, you don't think me more than anyone else is freaking tired of the market selling off for the past five months.

Yes, i i don't want it to sell off, but it's after so many consistent green days and they're they weren't small green days. They were pretty significant. It doesn't really surprise me that they finally uh showed signs of a pullback, but the reason that i'm not freaking out is that pullbacks are not the end of the world every stock. Every most you know every most valuable company that shows signs of an uptrend when it pulls on back.

It's a healthy correction right. We have not fully changed directions here, we're not trading below the moving average on the one hour time frame. Do you guys remember that i would always look back and for all of april and for all of may, we were getting rejected by this we're still trading above it, so we're still bullish on the one hour time frame as long as we hold above that, like 29, 50 dollar price point. So this thing can pull all the way back and if it finds a support and then it recovers, that's actually progress because we're no longer making lower highs and lower lows.

Think about it! It's not just that the market has to uptrend and never pull back, but when something does pull back, all you really want to happen is that it doesn't go as low as it did last time and that's encouraging that would actually probably build more buying pressure. Establishing a higher support level. We talk about this all the time, so am i freaking out that the nasdaq market and t kiki q are slightly in the green heck? No, have you guys seen my green days the past four days right, it's been insane, it's it's been such a blessing. I've preached so much not just to you guys, but every day during our live trading session to the learn plan, profit team making them aware of hey, you know every day we're still in a bear market.

We cannot be too surprised if all of a sudden, some news is released, that causes the market to pull back a little bit. You know this is why we were talking about reducing our position size yesterday and the day before that and the day before. That is that any time that the market is in the grain because we're still in that bear market territory, we cannot be too confident right and if we look at this on the day chart, it was literally like clockwork. You guys remember that ema line i talked about yesterday, i uploaded a video yesterday.

You guys can feel free to check it out, so our stock's ready to pull back. Does the crash come in right? We talked about this moving average on the day chart. It was a perfect resistance level and look. We literally got rejected right at it.

There's only been one time in 2022 that we broke above it only once every other time rejected, rejected, rejected, rejected, rejected rejected. So the way that i see it is, i hope that we find a support on the one hour moving average. That would actually be very encouraging if we break down below then yeah. That's not good news, i'm not going to sugarcoat it for you, but if we find a support here and we go back to retest that resistance level that could cause more buying pressure and on the day chart, hopefully get us to surpass that resistance level.

At the ema line and maybe begin to trade about 35 36 dollars a share and then the next resistance level would therefore be the moving average, which is up at 60 dollars a share. That would be so so amazing think about all your. You know investment positions, tesla amazon, apple, whatever it is that you're invested in if the nasdaq market goes up, then most likely your market will go up as well. Your stock will go up as well, so something that i'm very excited to follow up with, but as of right now, when direction is unclear.

Let me ask you this: when direction is unclear, if the market's trading sideways - and we don't know, if we're going to go up, we don't know if we're going to go down, we don't know if this is going to be a support. We don't know if you know we're finally beginning to show signs of recovery, because it's just trading sideways. What should you do? Well, you can do one of two things you can completely stay out of the market. So therefore you stay cash is what we call it or you can have a lighter position size.

You can reduce your position size in case things do get worse. You can tolerate it a little bit easier. It doesn't affect you as much, but what, if things get better, then you can always buy back in right. It's simple make sense of the options that you have.

This is what i love to preach to all of our learn plan. Profit traders so welcome to everyone that has joined us. We had a pretty decent live trading touching today we did go from green to red because of that shift of direction, but we also were not afraid to lock in profits and also having to reduce position size when direction wasn't in our favor. So it already looks like the moving average is beginning to act somewhat as a resistance level.

But if we break above this, then i really don't see it to be far-fetched for it to begin to recover and maybe actually end today in the green. So you guys comment down below what you guys think and also i would love to know what stock you're waiting for to invest in. So if you could only pick one stock, what stock would you invest in right now and buy more of if and when the market begins to recover? So i appreciate you guys time. I would love to invite you to my live training session.

I don't know if you've ever seen me or watched me trade live. I do have a video uh that i live streamed last week. This was on friday feel free to watch it. It's a one hour raw live session.

So if you ever wanted to see what it's like to watch, someone buy, sell, explain their thought process answer questions in real time then check that out and if you like what you saw, i would love to have you join me tomorrow and again, it's all inclusive. You got to watch me, trade, live you get access to the a2z video lesson, library, the daily group chat and also you get access to my tech buds hq located in chandler arizona. Yes, all included one-time payment lifetime access and that's going to be that second link down below. If you have any questions that you guys would like to ask me, especially if you're an absolute beginner feel free to message me via our free trading group chat and that's that first link in the description, i appreciate you guys time.

Don't forget to follow me on instagram. That is also provided for you down below in the description and friendly reminder. I actually don't even know if you guys are aware of this. We are giving away an ipad air in the month of june for every one dollar.

You spend it equals five automatic entries at our shop techbuds.com website. It's the fourth link down below or head on over to shoptechbuds.com, select your favorite items and again it's automatic entries. It only takes one lucky entry to be this month's giveaway winner, so hopefully uh you end up winning, if you guys have any questions, feel free to message me via discord and like always, let's make sure that win the year on review now. Take it easy team.