What is causing the stock market to go up what's going on team. It it's ricky with technical solutions here with a quick little stock market update. I going to start sharing my screen. So you guys can see exactly what it is that i'm looking at i just uh.

Announced my reduction of position size on t. Qqq i went from at 118 000. Shares now to nine thousand so i've cut my position and have them up 22 000. On the day.

I can show you some of my orders sell sell sell um. Why am. I selling so aggressively my selling started. Just so you guys can see my selling started right around 2654.

But why right i like to explain my thought process not just because or not because i need you to agree with me. I know a lot of people won't right. But my job is just to make sense of my trades and to not put myself in a position that i can't tolerate right. I had a very big position size and when we were approaching this continuous resistance level.

One of the things that i began to notice is that literally almost every single time we would come close to. 26. 60. 2650 we'd get.

Rejected. 2660. Would get rejected. 26 60.

50. Would get rejected my job's not to be perfect. I'm not a perfect trader. I i understand that of me and the more that i say that the easier.

It is for me to just lock in profits. I began to reduce my position size as we approached this general area 2654 then 2675. Then 2671 then 2670 uh hit highs of 2676. I got really close to that that all time high for the day as of right.

Now. The reason. I am reducing my position size is we are beginning to somewhat trade sideways and or it's beginning to slow down at the rate that it's growing. I still have 9 000.

Shares. So i'm still partaking in the action to some degree. But i wanted to reduce my position size enough that if the stock begins to pull on back. Then i'm able to tolerate the pullback first and second that i'm prepared that i can buy more if i want to and having that option makes me feel good and it's just that right how horrible does it feel when you're fully invested you don't lock in profits.

And the stock drops and you feel like all you want that stock to do is just to return to previous highs. I've been in that position too many times to make that same mistake again my job's not to be perfect. My job is just to make progress and that's exactly what i'm trying to do if it continues to indicate signs of an upturn then guess what i can always re enter and revisit the trade opportunity. If i see it to be fit one of the things that i quickly wanted to talk about uh is some of the economic reports that were released today better than expected that's actually why the market is in the.

Green so we have the empire state manufacturing coming in at. 111 the expectation was actually at negative 09. That caused the pretty significant jump right during the pre market session. We have one of the biggest contributors.

I would say is one hour before the market opens. Uh and that's retail sales. And that came in at one percent. Expectation was at point eight and then we have retail sales x auto so not including auto that came in at one percent uh expectation at 06.

One of the last things that we actually caught in today's live trading session. I'm not too sure if you were able to watch today's live trading session. If you didn't it's literally the video that i uploaded did right before this the consumer sentiment report was released 30 minutes after the market opened. We saw how the market.

Reacted it was better than expected and this was at 511. Expectation was at 49 prior was 50 again all of these reports came out today and they all came out positive or better than expected. And guess what we still have that same resistance level and that's actually something that we talked about in today's live session. Where with all these reports coming out it acted as a positive catalyst meaning that it caused the market to go up within a very short period of time.

This is a perfect example. This was leading into that consumer report. The consumer report came out 30 minutes after the market opened boom popped up. But it wasn't able to surpass previous highs right it got rejected once again resistance resistance resistance and that's all i kept seeing right where they're like warning signs they're red flags being waived of like hey we're not able to trade above or consistently hold above this level.

So my job again is to play it safe in the past five months have past seven months have taught me anything. It's to never be afraid to lock in profits. Because one of the worst feelings is going from green on a trade to red on a trade so i don't know about you guys. But one of the things that i do want to remind you is that.

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So if you're ready to join our team if you've been waiting for the biggest discount. Then here it is 150 off and that's that first link in the description. I'm excited to see which way the market ends up going if it goes up. I'd be excited to re enter if it pulls on back.

I'm prepared since i reduced my position size and i feel like that's the best position to be in where you're eager to see what happens next not needing something to happen next. So i really do appreciate you guys time. I hope and wish you guys an amazing weekend. I'm excited for those that do join our team.

I will see you on monday at market open for our live trading session. I hope that i earned a thumbs up please consider subscribing. I upload new videos every single day and like always let's make sure that we end the year on a green now take it easy team.