So what exactly are we looking out for tomorrow as Jerome Powell speaks at an economic Club in Washington DC what's going on Team: It's Ricky here with Technical Solutions I Wanted to make sure that we understood why the market pretty much traded sideways uh for for the rest of the day, right? And it's in response to what's to happen tomorrow. For those that are unaware, let me go ahead and start sharing my screen. You guys could see that Tuesday which is tomorrow February 7th uh chair or Jerome Powell which is the uh, what's it called the head of the Federal Reserve it's going to be speaking at the economic Club of Washington DC and this starts at 12 40 p.m I am going to live stream in it I am going to live stream in it for free here on my YouTube channel and all you literally have to do is stay subscribed. turn on your post notifications because if you don't turn them on then YouTube will not alert you when it is that.

I Go Live! But why is this so significant? Well let I want to make this as little really simple as possible. so just so you guys can see. Tqq I ended at 6800, I was up about 7 000 and then I didn't close my entire position I left myself with 1 000 shares I left it still relatively pretty light for what I normally trade with So 6 800 profit Um, and just so you guys could see no position on Sqq again, just my one lucky share. So um, now that we talked about that one thing that I want to make sure that is very uh, clearly understood is what's the focus for tomorrow? Why is the market waiting for Jerome Powell to speak? What could he say that can cause a shift in the market? It's what was reported in the month of January And even with what happened last week, a lot of people were confused on why if the unemployment rate went from 3.5 to 3.4 percent, Why is it that the market reacted in a negative way? Not just that, but as well as even Dell just announced that it reduced Um or it it's going to work on reducing its work forced by five percent.

It's about 6.6 K jobs and the main focus is because there was such a strong employment report time and time again. Even this week we have initial claims and continuing claims and one thing that we continue to see is that initial claims and continuing claims continue to come in lower than expected. For those that are unaware, initial claims and continuing claims are people that are filing for unemployment initially right? That for the first time or continuing claims are people who continue to file for unemployment. and if that is going down week after week, this is why it was not a surprise for me and my Learn Plan profit team to see that the unemployment rate actually came in lower than expected, right? But a lot of people are confused.

like why why is lower unemployment a bad thing And it's remember, we have really high inflation and even still at that 6.5 percent. The focus for you know the Federal Reserve was to bring down that inflation to really slow down the economy. but if they're seeing that unemployment is actually going down, that's not slowing down the economy. That's if anything, the economy is getting better and one of the things that really caused the market to go up.

and this was following the previous interest rate hike from the Federal Reserve. It's when they announced the 0.25 percent interest rate hike and then Jerome Powell went ahead and spoke about, you know, hey, the Market's you know, actually not doing too bad. They talked about their quantitative tightening uh, but they they weren't very hawkish as they were. It was now called dovish I Love these terms that they use.

but I wanted to quote one of the statements that was shared by Yahoo Finance and it's one of the main focuses. um for tomorrow, right? So investors will get more insight on the U.S Central Bank which again is just the Federal Reserve Uh to recent job data when Jerome Powell speaks again on Tuesday on this economic Club in Washington DC and again, this is in quotes. Looking ahead, the key question for markets is whether Pal's dovishness was intentional or accidental meaning being less aggressive. I just I hate how they use these terms because then it kind of confuses people that are just getting into this you know, market right? So is it intentional or was it accidental? The team of Bank of America adding that Powell May strike with a more hawkish meaning more aggressive tone.

during his appearance this week, we think that the federal uh or the Feds will Embrace of disflation in in genuine and again they They go into this term where all they're really looking for tomorrow is are they going to remain with that same tone of being less aggressive and not want to continue to raise interest rates as aggressive as they did last year or are they going to be right, more aggressive just like how they were last year and then the market factors that in. So all we're looking for tomorrow is the tone for Jerome Powell and how he plans to approach the overall Market because January reflected and reported such a strong labor market. it's now to ask the question: Well, what is the Federal Reserve going to do? Are they going to be more aggressive? Are they going to continue to be less aggressive just like they were in their previous interest rate hike? The last thing that I wanted to share with you, right? The last thing that I wanted to share with you was when is the next inflation report the next CPI data report and I wanted to show you guys this firsthand so you guys can add this to your calendar again. One of the things that we love to do on this channel is I Like to make you aware so you don't have to solely depend on me, right? In a world full of problems, learn to be a problem solver.

Learn to do it on your own And this is exactly what I wanted to share with you guys. This is from Bls.gov forward slash CPI which is the monthly and inflation reports. We can see that the next API data report is going to be on February 14, 2023. So again, it's not just going to be Valentine's day, but on Valentine's Day we're going to get a nice little delivery of an inflation report.

So I'm excited to see how the market ends up actually reacting to that inflation report. Depending if we actually continuously show signs of inflation going down, or if this is going to be the first inflation report where we don't make a consistent decline month over month, That's what I'm excited to see now. where does the market currently stand? The NASDAQ Market as of now is showing signs of a potential support right here. right around 300 for QQQ Now it's not making higher highs and it's not recovering just yet.

It's just showing signs of a support. So in the next couple of days, especially tomorrow when Jerome Powell begins to speak, we will there then determine our direction. Are we going to hold above 300 and begin to indicate signs of a reversal? meaning go going long Or are we going to break below our support based off of what it is that he says and are we going to retrace right back down to this moving average to test our previous support range which is right around that 295 regardless of which way the market ends up choosing to go. Remember, our job is not to predict the future, our job is simply to prepare for it and I focus on one thing and one thing only and that's Market Direction.

So I'm very excited to live stream that for all of you guys tomorrow. I Just wanted to make sure that you understood the importance of this discussion. Um, that Jerome Powell is going to be having tomorrow and why the market is so you know, concerned and really, it's just all about his tone and and what the Federal Reserve intends to do after a strong labor market reporting for the month of January That is all you need to know. So based off of what it is that he says, how he answers his questions and specific statements that he gives will determine how the market kind of I would say digest Um, his his comments right? Is it hawkish or meaning aggressive or is it dovish meaning less aggressive? These terms are hilarious.

Um, but again, if you guys have any questions about what we talked about today, feel free to send me a direct message via Discord or via Instagram And that's the first or third link in the description down below. Um, again. I Am going to be live streaming tomorrow, so please make sure you drop a thumbs up and subscribe. So YouTube notifies you when it is that.

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