So is now a good time to buy the dip in the stock market. What's going on? Team? It's working here with Techbook Solutions Want to make sure that you guys are kept up to date with what exactly is going on? There's a series of economic reports that were released today. We're not a series I'm sorry. One economic report.

uh, the existing home sales expectation was 3.96 Million the prior month was 4.08 million and it came in higher than expected Again, as of right now, after that report was released, the market actually reacted in a negative way. It pulled on back a little bit because right now good news is bad news and bad news is good news, right? The Federal Reserve still wants the economy to be slowing down, so therefore more home sales happening means that economy is growing and that's not essentially what the Federal Reserve wants right? They want the economy to still feel the pressure. So I think that's why we were traced back a little bit. But there was no question that today is a day for the Bulls no, uh, reason to sugarcoat it.

This is one thing that I want to share with you. I'm going to keep today's video super short and sweet. Um, you guys know that a couple days ago, right? We were talking about the critical levels on the four hour time frame. Four hour, One hour.

Whatever it is that you find to be more effective. But one of the things that we've talked about is with these larger time frames, right? Not so. not so much for day trading, but more for swinging trading, right? It's very easy when we see the break below the EMA break below the moving average. lower lows lower highs have found signs of a support.

Market Rallied showed sense of resistance, pulled on back. We've been testing this support from the NASDAQ market right right around that EMA right around that moving average. Yeah, I Call these critical points, it's because the market can go either way, right. We can either begin to recover and or we can get rejected and then go back.

Can make new looks, right? We recovered. So this is actually a huge step for QQQ and for the NASDAQ market and for S P 500 And all of that right? We pulled back, we formed a higher low, and we began to indicate signs of an uptrend. So as of right now we still have that previous resistance of 285. So I just want to make sure that you guys are aware of it.

But why? Well again, um, not just on the technical side of things, but based off of Netflix earnings and we have up and coming earnings for big Tech next week we have Tesla reporting earnings on Wednesday. It seems like a lot of these companies are not just necessarily beating expectation, but actually reacting and Reporting in a positive way. Market rallied in a positive way. Maybe this is just a bull trap, whatever the case might be, but I'm telling you that on the technical side of things, if you look at the EMA if you look at the moving average, we were all aware of this specific level of the specific demand range where yes, it could have gone.

Either way, it could have gone above, it could have gone below and this is why you wait for confirmation. So as of right now it is is beginning to indicate signs of an uptrend. We still have that resistance at 285 and the reason I'm making you aware of this is because if you're day trading it, then at least you can be aware of if we're getting a little bit closer to 285 to be careful, that is a previous resistance level. If we begin to retrace and you begin to short the market, be careful, right? We have that 275 support range for the NASDAQ at least we did based off of previous patterns.

Right now it's still too early to tell because Big Tech is still next week and the week after, but only time will tell when markets actually begin to identify a little bit more of a true direction. as right now there's no question that it's definitely a bull day and again, just wanted to congratulate all the Bulls out there. It really struggled, uh to break below the moving average and if it did, it was for a very short period of time and it continued to Rally. So as of right now, it just seems like a great bullish day.

It's making higher highs and higher lows and I want to remind you days like this are like the days that you want to wait for, right? So if you're under the PDT rule if you continue to ask yourself of like why does Ricky always ask me to save my day trades Well, you know there's kind of some days right where the Market's a little bit more choppy, a little bit more inconsistent. Well, that's a great day to short right, but a little bit more inconsistent right? So if you if you're asking the question, well what day is our most ideal, it's when Direction overall is in your favor, right? higher highs, higher lows it validates the moving average and again there's just continuous buying pressure. Now this won't always happen and it's going to come to an end. But again, it's great.

Days like this that present kind of just like Crystal Clear Opportunities especially for beginner Traders So if you're trying to learn how to be a little bit more selective, then again I would use today as an example of what kind of to work towards. So I Really do appreciate you guys a time again. if you guys have any questions, feel free to send me a message via Discord and just wanted to make sure that you guys were kept up to date with the existing home Sales economic report that was released today that came in higher than expected which is normally a good thing for the economy, but again due to what the Federal Reserve wants, a market reacted in somewhat of a negative way. Again, if you want to work with me on a closer basis and you want to watch me trade live every single day I Work with our Learn Plan Profit Group every single morning and they get to watch me trade live every single morning.

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