Anyone else Get Smoked by the market today. What's going on? Team? It's Ricky here with techbook Solutions if you guys are either part of my learn plan profit team or if he has followed me on Instagram or Discord I'm sorry or Twitter uh I've recently posted a quick little P L update on the day. Uh, just like I said earlier today, I was down about four thousand dollars. Uh, let me show you very quickly at a position on Tqq NASDAQ Market was getting rejected I Saw there to be potential as we were still trading within range and we still are I just didn't want to hold and carry this day trade any longer.

Uh, we're still trading within range for Tqq. We can see that we're still trading above, uh, the 2150, but most importantly for Nasdaq right? we're still trading above that 290. Um, I cut losses on it right? I lost a little bit over five thousand dollars by the end of day during my first life's uh, my first video today I was down right under four thousand dollars. Uh, and then I Just you know I I was like it's not enough I need to lose more than that.

No I just I kept making the same mistake over and over again. Uh, there's no reason to sugarcoat it right. We all make mistakes. Um, and you know I was doing really well the past couple of days trading.

I had pretty significant days. Uh, well over ten thousand dollars each day and today just got the best of me. There was many times today and again, kind of like learning from my mistake today. Uh, there was many times today that the NASDAQ Market was trying to recover and it would break above the EMA and I was like okay, here we go, we have potential.

I was break even right. So I had the potential to, uh, get out pretty much break even on Tkq and I would just hold right I was like no, we're gonna break above the moving average now which obviously we were nowhere close to and it would get rejected right? This happened multiple multiple times. Today we broke about VMA got rejected, tested EMA got rejected, tested EMA same resistance, got rejected and again you live and you learn and I made the same mistake over and over again where I saw there to be a slight opportunity. but a very simple thing Market Direction was against me and time was not in my favor right now.

If I had a little bit more time, do I think that the NASDAQ Market had potential still has potential to to recover. Of course, if you look at this on the four hour time frame for a QQQ we're still above the moving average and on the day chart we're still above the moving average as well. So NASDAQ as a whole is still bullish according to you know, the day chart right? We have not broken below that. If we do break below that, then that's where I'm really just going to shift my attention to shorting the market once again.

You guys know that I was very early on when shorting the market. I was one of the first people that started kind of asking myself when NASDAQ continued to trade right around 311 310. We were not showing any more signs of progress and I took a very early short position. Inflation data supported my thesis of the market that you know we're gonna have to pull on black back inflation data has not.

Uh came in lower than expected and the Federal Reserve is most likely going to take a more aggressive um, you know approach when it comes down to raising interest rates. The market finally corrected itself and then the market began to test its support range right? Not just on the moving average, but based off of Old resistance levels, right? Old resistance levels here are becoming new support levels. so that's what I wanted to kind of like. Update you guys on today of you know, kind of where I still stand as long as we still hold above the moving average, which for Nasdaq you might be asking what does that mean as long as we're holding above 290.

I still view the NASDAQ Market to be bullish Long term, right? Doesn't mean that it's going to be bullish on the day today is a perfect example, but I still see a bullish long term as long as we hold above this moving average If we break below that moving average, then yes, I do believe that there could be a lot of selling pressure. uh, potentially sending those right back down to 260. So to not over complicate in to not make the same mistake that I made today I would transition from going long to going short, right? So one of the other things that you guys might have noticed today is that Tesla Tesla sold off 5.61 after market hours. It's one of the main reasons that the NASDAQ Market was selling off uh, after market hours because of Tesla's aggressive sell-off and obviously Tesla having a larger market cap, the influence that it has to overall markets.

Now why was Tesla selling off? Tesla stock sells off more than five percent after hours as investors. um, investors day, which they really called it like Tesla day or something like that. The Master Plan part Three falls short. So there was a specific expectation based off of all these articles that I'm reading.

and please correct me if you think I'm wrong. They had huge announcements of like, you know that they produced their fourth millionth car. Um, you know there's an expectation that he was going to come out with a Tesla Model too. Uh, he spoke nothing about that.

It just fell short to I Would say the biggest thing based off of all the articles that I'm reading, the biggest thing was he did not talk about a Tesla Model 2 which would have been right below the model 3 which would have been cheaper where 80 of the market space where he can capture 80 percent more of the market space based off of that specific price level and that just was not met. He talked a lot in his Tesla um day meeting where he covered how they're gonna be adding this Mexico gigafactory and based off of their overall approach when it comes down to manufacturing and production levels, it's going to really increase their net margins and overall minimize their expenses. so that just sounds like boring stuff to Everyday people. What they wanted to hear was we're coming out with a Tesla Model 2 and Elon just didn't deliver on that.

So the Market's just factoring that in the Market's selling off for Tesla and it's just taking that into consideration. But just like anything, any reaction tends to be an overreaction. Um, and as of right now I would say although Tesla is pulling on back and that selling pressure can continue until pre-market tomorrow, one of the things that I want to remind you is that um again, at least my main focus is holding above that 290 or if we do break below then going into a short position. so I'm very excited to follow up just again.

Wanted to make sure that I update you not just on my green days but to update you guys on my red days and to talk about what takeaways I had from each day and my takeaway today is again, when in doubt, pull out. so if you have any questions, you guys know exactly how to reach out to me. that's going to be via Discord which is the first or third link in the description down below If you prefer to message me via Instagram I'm verified on Instagram So again, that is my only account. All the other accounts are fake and I do want to remind you that I do trade live every single morning.

So if you want to watch me trade live as soon as tomorrow I trade live with one group and one group only and that is that second link in the description down below. So if you want to learn more about it, take one minute, click the second link and if anything, I can see you tomorrow at Market Open for our live training session I Appreciate your time. Please be aware that initial claims and continuing claims or economic report gets released tomorrow one hour before the Market opens, so it should be an interesting Thursday Appreciate your time like always, let's make sure that we're in the year on every note. Take it easy team.