Stock market is dropping and trust me, it's not just you guys getting smoked. I definitely took a bad trade. It was caught in my live trading session with the Lpp team. I'm down as of right now, a little bit over five thousand dollars.

This is following my seventeen thousand dollar gain yesterday and then my 25 000 gain the day before. So all together again. as long as I don't lose as much as I win, that's all that really matters. But man, today is tough and I wanted to share with you guys.

One thing that I actually saw. we talked about it in my live trading session today. you know NASDAQ Market was up at one point like 3.6 uh for Tqq, right? I think NASDAQ was actually up like 1.2 percent. Uh, we started off very strong and I should have known, right? Uh, Market Direction tends to change very often from pre-market to normal Market hours and that's exactly what happened.

I mean at one point today I was up over two thousand dollars. we pulled on back I have no position I had I was not up during the pre-market session, we pulled on back I entered NASDAQ Uh, dollar cost average on the way up and then I reduced my position size with 3 000 shares I locked in profits on part of it and it pulled back a little bit I started the dollar cost the average again just thinking that it was gonna pull back within range. it broke below the moving average, broke below. This began to consolidate based off of pre-market support, broke below that and then now we're literally getting rejected.

So uh, you live and you learn. But one of the things that I want to point out is what exactly um is going on. So we talked about this in our live trading session today with the Lpp team. I'm very glad that we did because a handful of our traders that were in Tqq actually locked in profits Because you know that we've talked about the resistance based off previous patterns around 290 that has been acting as a new support.

But on the way up I knew that we were going to most likely test this resistance range on this EMA line. and we do run the risk of forming lower highs and lower lows. And that's kind of the idea. that although we did find the support at 290 as expected as on our way up, it wasn't guaranteed that we had to break above that EMA So I'm glad that we at least talked about it.

You know, in hindsight, so when it actually did get rejected, at least most of our beginner Traders were able to get out. So now where are we at? Like where does this leave us right? As of right now, the overall NASDAQ Market is still trading above the moving average and is still trading above the EMA. So although it is a red day, overall, NASDAQ Market is still trading above the moving average and the EMA so that's still a step in the right direction. But if we break below this support Zone then it can get really bad, right? This could be another light down all the way down to 260 and this is where you want to be very careful.

So I would view this to be a critical support. If we break below 290 then get ready to short the market. at least that's what I would be doing if we actually break below this specific support range. Also, you know a big reason on why the market was actually indicating signs of an uptrend was because Nvidia right and Nvidia peaked pretty early on.

I should have paid more attention to not just the economic reports that were released today, but I should have paid more attention to Nvidia because if Nvidia was peaking and then it began to pull on back I should have reminded myself of like hey, the whole reason the market was going up yesterday was because Nvidia reported earnings and guidance and earnings were better than expected. but you know Nvidia did a great job I think at one point I thought it was up like over 14 15 I mean I wasn't really paying too much attention to it because I just wasn't trading it right and that was my fault. But looking back you know it would have been very easy for me to see like oh wow, look we're actually breaking below the EMA if Nvidia is the reason that we're indicating signs of an uptrend yesterday and this morning, then I probably want to pay a little bit more attention to when this thing begins to pull on back. because if this thing begins to pull on back, then NASDAQ is bound to pull on back as well.

And it's literally almost like clockwork right where it did end up getting rejected at a very similar time, and now it's forming these lower lows and lower highs than again. Any reaction tends to be an overreaction in the stock market, and it makes sense. After pushing up 14 to 15 percent in just one day, it makes sense on why Nvidia is correcting itself. uh, shortly, right? So there were a series of economic reports that were released today: I Just want to make sure that you guys understand what was reported, initial claims and continuing claims.

The expectation was 200 000 for people to file for unemployment for the first time. Only 192 000 people file for unemployment for the first time. What does this tell us? That means less people for the first time are filing for unemployment than expected. Meaning that 8 000 people that's the discrepancy, right? 8 000 people less than what expected didn't fall for unemployment.

So they most like, either found a job and or just again had no need to file for this unemployment check. So this means that our unemployment rate should actually be lower, right? This is the second, if I'm not mistaken, the second week in a row in February that each initial claims and continuing claims comes in lower than the prior. So this is telling us that more people are no longer needing unemployment checks and that are actually getting jobs. And remember, why is that a bad thing? Rick It's not that it's a bad thing, it's that people are getting their jobs right and unemployment rate is going to drop even more.

We're currently at 3.4 percent, but the Federal Reserve wanted unemployment to be at a higher four percent right to really slow down the economy, but we're definitely not seeing that right now. The only good thing in my opinion that came out today that the Federal Reserve would appreciate is the GDP second estimate. The expectation was 2.9 and it came in at 2.7 So again a little bit lower than expected. but other than that as of right now NASDAQ Market Very oversold but also very bearish.

One thing that I shared with our Learn Plan Profit Group is I'm itching to buy the dip on Ttq, but I need to respect the Bulls and I need to understand that the dip can continue to dip. And because of that, if I really want to come out in the green I need to make sure that I set my alerts and then I only really step on the gas with my position size. what direction is in my favor? So if I make it out in the green today I'd be very happy. But nonetheless, even if I just end up a little bit less in the red then I think that it would be progress and remember my job is not to be perfect I will never be perfect.

You will never be perfect. We will never avoid Red days. Our jobs are not to avoid red days. Our job is to Simply manage them.

So if you ever have any questions, especially if you want to learn how to overcome challenges that you're experiencing the stock market, remember I'm always one direct message away If you prefer, Discord send me a direct message on Discord that's that first link in the description down below. or if you prefer Instagram that's that third link in the description down below. I Am verified. That is my only Instagram account.

All the other ones are fake I Can promise you that I will never message you first I Respect. Respond to all of my direct messages but only if you message me first I am verified and again it's the third link in the description down below I Have to repeat that because there's so many fake accounts out there. I Do want to remind you: I Do trade live every day with our Learn Plan Prof group and if you're ready to join our team again, that's that second link in the description down below. And if you sign up today, you can watch me trade live as soon as tomorrow at Market Open! Yes, it is a one-time payment lifetime access and right now we are running our biggest sell which is 150 off and that's that second link in the description down below I Appreciate your time, hope that we're in a thumbs up.

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