Hey, what's going on? Teammates for good type of solutions here with a super quick stock market update So what exactly is going on with the stock market today? Why is it dropping? Surprise surprise again! We talked about this and we actually covered it within my live trading session today for the reminder: if you want to be able to watch me trade live every day I Trade live every single morning with my Learn Plan Profit Group And it's the second link in the description down below if you want to join me as soon as Tuesday when the Market opens of course because the three-day weekend but without further Ado Again, this Market is selling off because of one thing and that is because of the inflation reports that have been released. As of last week, we had a total of two inflation reports: one CPI on Tuesday one PPI which is, um, the producer price index Inflation on the producing side of things, Inflation on the consumer side of things. Both of them came in warmer or hotter than expected. and what we mean by that is inflation Rose more than what was expected.

This means that based off of what Jerome Powell said, it is a to be expected that the Federal Reserve will have to take more aggressive interest rate hikes in the up-and-coming Fomc minutes meeting because of this inflation data. And this is what's getting factored into the market right now. If you've been paying attention. I've been talking about this as you know the unemployment reports have been coming out.

The CPI data report I didn't really understand why the market wasn't selling off, but then after yesterday's PPI report I believe that it began to get factored in a little bit more so I wanted to share with you. Kind of like where I see the market going at the end. This is 100 my opinion. At the end of the day, no one knows how to.

You know no one can predict the future of the market. It just would make sense to me that you know a pullback is kind of long overdue, right? If you look at, you know the overall support. This was January 6th. This is pretty much when we were nearly at 52-week lows for the NASDAQ market.

We've been on a consistent Bull Run since January 6th. so congratulations Bulls It's been an amazing rally and it was long overdue, right? Especially with that very strong Bear rally in 2022, right? We saw a really nice, um, overall uptrend rent up until really, we peaked on February 2nd. That's one thing that I also want to bring up is that we have not shown any signs of progress beyond the highs that we made on the NASDAQ market and S P on February 2nd, it's February 17th. So you're saying in 15 days, right? in two weeks of two trading weeks, we have not made new highs.

And remember we've talked about this: Any open position is a position that's open to risk. and if you still have an open position, that is not making you any more money than what it did two weeks ago, then why do you still have that open position, right? It just doesn't make sense. And that's again, that's more on the technical side of things. Now looking at where we're at, we're testing our support range based off previous support levels here for the NASDAQ Market this is right around 297.

I would see that to be the kind of the support range that we're going to be testing today. Right now, we're testing that 300 support range for QQQ We're a little bit below it, but it's been consolidating here and this is one thing that we talked about in our live training today. We did hit lows of around 299 uh, 298 88 to be exact, but around 299. that's the general support range.

As of right now, we're teeter-tottering around 300. That's going to be where the Bulls are going to really try to put up a fight and that's where I see most of the market trying to hold. If we could break below the 300 at that point I Think it's going to be a walk in the park to hit the 297 and potentially I mean it would be amazing to see, right? Obviously, I'm shorting the market. it would be amazing to see us not only break below 297.

I Don't think that this will happen today, but I think in the next couple of uh days or weeks, right? we'll see the market pull on back to around 287, which is right around the moving average. Remember I'm not expecting the market to crash I'm just expecting it to correct itself because it's been on a consistent rally since January 6. And if it has not corrected itself, then during any bull market, it doesn't matter how bullish it is, my markets always correct themselves. Remember, a pullback is not a crash.

A pullback is not the end of the world. It's really just another opportunity to buy in at a lower level and remember the only people that freak out. The only people that cry and complain about a market pullback are those that did not prepare. So you now know in advance.

You don't have to try to predict the future. that's not your job. You're never going to be perfect, but you can prepare. And how can you prepare well one of two ways, right? You can reduce your position at overbought levels to anticipate a pullback so you can have money to buy at those lower levels.

or if you're already cash. Then again, allow the market to sell off. You don't have to short the market just like I'm doing right. You don't have to always have a position going long or going short.

You can stay cash, allow the market to pull on back, and then once you begin to see that it's showing signs of a support, where that's at a price level that you find to be attractive, then you can begin to dollar cost average there. But the thing that I want to encourage you to do is to have options that if the market does pull on back that you're literally not just a Sitting Duck sitting on your hands hoping and wishing for the market to recover because you have no more money because you bought at the overbought levels and you didn't reduce your position size. That's what I want to avoid because I've made that mistake so many times. I would hate to see any of you that are just getting started making the same mistake.

especially if I can make a simple video like this to make you aware of what's potentially bound to happen, right? It's not just on the technical side of things, it's understanding the domino effect of these inflation reports. Inflation came in hotter than expected. That's not an opinion, that's a fact, right? It came in hotter than expected for both PPI and for CPI. On top of that, the Federal Reserve said that they will be more aggressive with future interest rate hikes if we have higher inflation data.

So put two and two together higher inflation data. the Federal Reserve will most likely be more aggressive. when they announce the more aggressive interest rate hikes, the market will drop. That's it.

There's no reason to over complicate it. literally. Absolutely no reason Now, of course, Market Direction Can always change. So one thing that I said to my learn plan profit Group is most of us are shorting the market so we're in the green right now.

As the market is selling off, we make money as the market sells off. You don't have to be. But one thing that I always say is especially because of what's happened since January 6 is: always respect the other side, watch your position, size, and make sure that you can always tolerate. Worst case scenario, especially for this three-day weekend, you don't want to enter an aggressive position Market Direction begins to change.

You hesitate, you don't lock in profits, you don't cut losses, and then now you're back holding a position you had no intention of holding for the next three days because because of the three-day weekend again, all we ever want You want to encourage you to do is to put yourself in a position in which you can tolerate, right and to also never be afraid to lock in those profits up. I'm very excited to follow up again if you guys don't follow me on Instagram Just yet, that's going to be the third link down below and from the reminder: I Do Trade live every single day and I try to keep my trading as simple as possible I Show both my green days and my red days and you get to see every trade that I take in real time during that 30 minute to one hour session. So if you want to be able to watch me trade live as soon as the next time the Stock Market opens, then again I Work with one team and one team only and that's my learn plan profit group. It's the second link in the description down below.

It's a one-time payment lifetime access and right now it's our biggest sell. It's a hundred and fifty dollars off. so if you've been waiting for a big discount and you've been waiting to join our team, stop guessing, start learning and you can watch me trade live as soon as the Market opens Next and again. that's that second link down below.

If you have any other questions, feel free to send me a direct message via Discord That's that first link in the description. And don't forget to select your favorite items at Shoptechbuds.com We have everything from our new make your own Luck tea to a bunch of trading mouse pads to pimp out your office apparel collection right? Motivational tees, hoodies and crewnecks. The wall art collection obviously to pimp out your room or your office Periodic Elements: This is the day trading art that you see right behind me that's really popular. It's not just it's not canvas, it's actually aluminum, right? And it comes with the push-ups and you can have the same exact setup that I have.

And then we have the flag collection and the accessories with the trading. Jones Again, this is all available at Shoptechbutt.com or the fourth Link in the description down below. I Really do appreciate you guys time. I am using the Weeble trading application that is the fifth Link in the description down below.

So if you are tired of your old trading application and you're ready to try out a new one, it's free to try out. And right now they have a limited promotion that if you sign up using my link which is the fifth Link in the description down below, you can earn up to 12 free shares just when you deposit one one dollar. Now remember, even if you end up not liking it and you sell those 12 shares, you still get to keep it And it's free money. So again, that's going to be the fifth Link in the description down below.

I'm very, very excited to see if we can flush out the Bulls and if we can hit highs of almost 38 today and hit lows on NASDAQ of 297.. But I'll keep you guys up today, both here on YouTube and on Instagram So make sure that you guys subscribe like always. Let's make sure that we end the year on a green no take it easy team.