So let's talk about what reports were released today. What's going on? Team: It's Ricky here with Technical Solutions Just wanted to make sure that you guys were kept up to date. I Just finished one of my live sessions with the LBP team as of right now I wanted to show you uh, right now I'm I'm down. It's pretty much a break-even day so far.

I do have a stop loss of 3 000 shares here. If we do end up breaking below, this would pretty much put me at about an Eleven Hundred twelve hundred dollar loss if my stop loss gets triggered. I'm willing to tolerate maybe a two to three thousand dollar loss. Um, you know, worst case scenario, but why am I choosing to trade? Ask you today.

Well first off, I waited for the for Skq to pull on back. Um, and it was caught perfectly within my live session today. So Skeq during the pre-market session if you guys didn't see NASDAQ was down one percent. So Sqq is the triple leveraged bear.

ETF so this one was up three percent. I've seen this happen many, many times where we start off in the green, but then we transition into the red and vice versa, right? It happens with QQ with Tqs and with Usq. So one thing, that because it was so bearish during that pre-market session, the NASDAQ Market began to recover and that's where I saw uh there to be an opportunity for eskihi because I waited for this thing to sell off and then once it began to establish its support level I decided to um I I started uh to buy into. you know its support range, right? So pre-market set its support range.

we're still trading within that range. There's still no break of pattern there, which is why you know I was I was okay with taking a position as of right now QQQ right? So where do we stand on the four hour time frame, Guys, We're at a critical point, right? I Mean old resistance levels are testing to become new support levels. but we are now trading below the moving average on the four hour, which is the first time. Today is the first time that we are trading below that and for a little bit.

Today we broke below the moving average on the day chart. That was very significant, right? That got kind of scary for the Bulls right? Um, so as of right now it's still uncertain are we gonna hold here and then begin to recover Or are we actually going to show signs of progress and continue to sell off and form lower highs and lower lows? That's kind of the question that I'm asking myself right now where I don't know I Don't know if we're going to find a support here and break above or find a you know, um or this is just a test of support and then we're just going to continue to make lower lows and lower highs nonetheless. Um I Think it's important to say that as of right now, all bulls and all Bears need to be respecting to one another right? because it can go. Either way, we don't have a crystal ball.

We can't predict the future. I'm literally just waiting for Market direction to be a little bit more clear, right? If we end up breaking below and NASDAQ begins to recover, then I'll cut my losses here. If we end up actually, you know, beginning to make higher highs on ask you meaning that NASDAQ is selling off then I'll step on the gas on my short position just like I Talked to you guys about it yesterday. so kind of one of my takeaways from my loss yesterday, right? And to what I'm doing differently today is I I waited a lot longer to enter my position today and I'm very grateful that I did, because if I would have gotten in right at Market open thinking that Usq had to continue to go up, you know that loss would have been much more significant, right? It would have been a 1.5 loss versus pretty much a break even day, right? But because I waited for this thing to sell off, my position size is still a fraction of what I could be in, right? and it's testing for signs of a support.

So even at worst case scenario, it's a much smaller law than what it was yesterday. At the end of the day, every trade comes at some form of risk, right? Our job is not to avoid risk, our job is just to manage it. And I feel like I I did a much better job today managing my position size, being more patient with my entries. Um, and then my risk management is put in place, right? So the only thing that I quickly wanted to talk about is the initial claims and continuing claims.

Uh, report. So initial claims are people filing for unemployment For the first time? it was a hundred and ninety thousand. The expectation was 197 000. So less.

So seven thousand less people filed for unemployment for the first time than what was expected. This is the third consecutive month or week where our initial claims comes in lower. Same thing with overall continuing claims previous 1660, current 1655. So this means less people are needing to file for unemployment and which pretty much means that more people are probably getting jobs.

Why is that a bad thing, right? Because when this report came out, the market reacted originally in a positive, the negative and then the market began to recover. You know what's going on here, right? Oh, I'm sorry 8 30. Market began to Market reacted in a negative way. meaning ask you one top right? So when Uski HQ goes up, NASDAQ Market goes down.

So why is it that this happened? Um, well remember the Federal Reserve wants the economy to slow down. Add a part of that slowdown is higher unemployment. It's a weird way of thinking, but that's what the Federal Reserve wants. And if the Federal Reserve sees that unemployment is actually going down instead of up, then they can justify being more aggressive with future interest rate hikes.

especially as our previous CPI data report and PPI data report came in higher than expected, right? It did not come in lower than expected. they both came in higher. So I think that we're in for a treat for this. CPI and the PPI that's going to be released in the next couple of weeks.

I'm going to keep you guys up to date again. All you guys have to do is drop a thumbs up on this video, subscribe to the channel and turn on your post notifications. so YouTube alerts you when it is that. I Go Live! Very excited to follow up if you're part of our Learn Plan Profit group.

I'll let you know if we continue to show signs of progress on the NASDAQ on the downside or on the on the bull side. So very excited to follow up. Friendly reminder if you're ready to join our team. I Do trade live with one team and one team only and that's my learn Time Profit team.

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If you don't see it, go to the description the second link and that will send you on over to our LBP page. If you have any questions, feel free to message me via Discord or via Instagram and that's the first or third link down below. I Do want to let you guys know that our GTR giveaway does begin tomorrow, and if you want to learn a little bit more about that, that's the fourth Link in the description down below. I Really do appreciate you guys time like always, let's make sure that we end the year on our green now.

Take it easy.