So where do I see the stock market right now? What's going on? Team: It's Ricky here with techbook Solutions Here is going to be a super quick stock market Update: Not going to sugarcoat anything I Want to say as exactly what I See it right now? Um NASDAQ Market As you guys can see, this is QQQ it's a one for one. Uh NASDAQ ETF We can see that as of right now is still getting rejected by this EMA line. so we're still forming lower highs, lower lows. Uh, on the day chart, we're still holding above the moving average.

That's a step in the right direction. So we haven't entered bearish territories from the original pullback. we're still holding above the moving average. So I want you to understand that? But even after today's performance on the four hour time frame, we still were not able to break above that 297 resistance at that EMA right now.

So that's what I'm looking for. Are we gonna break above the EMA and begin to make higher highs and higher lows? And actually, and what might be asking Ricky what do you mean by that I'm new to the stock market, right? I Don't know what higher highs and higher lows means. This is exactly what I mean right now the Market's getting rejected by this. EMA It's very similar to when we were getting rejected by this EMA in late December Right every time that we would go up, we'd get rejected and it would sell off.

It would go up, get rejected, and then sell off. But then it eventually broke above the EMA it pulled back and then validated it as an Um as a support. and then it made new highs pulled back, validated as a support. And these are the higher highs that I'm talking about.

These are the higher lows that I'm talking about I Want it to begin to trade above the EMA line. It doesn't mean that just because I want to that, it means that it has to. right? As of right now, we are testing a potential reversal I am looking to see if we go back to retest that resistance at that EMA and if we could actually break above. If we actually go back to break above that, the next step is breaking above 300 and then we can work our way back up to 310, which has been been a very common resistance level for QQQ which is a NASDAQ ETF.

Now does this mean that the market has to burn break above the EMA line? No right. We all know that inflation data has been coming in harder than expected. So can the market break below and hold below the EMA? Of course, right? Looking at this on the day chart, we are either looking for the break above the EMA. That would be a confirmation of an uptrend and in my opinion, a reason to really begin to step on the gas on a long position.

I'm just explaining to you my open thoughts. You don't have to agree with me If you don't agree with me, share, share your opinions in the comment section. but by waiting and waiting for confirmation for the break above EMA that would be my confirmation of like okay, I can really step on the gas on a swing trade or something like that for Tqq right now on the day chart. Well, what happens if we break if we don't break above the EMA right and if we actually begin to pull back and we break below the EMA I'm sorry the moving average which is the screen line on the day chart.

That's when I would transition from going long to going short where I would begin to short the market. meaning I make money as the market sells off. So remember I'm focused on one thing and I just want direction to be clear I Do not care if the market goes up I Do not care if the market goes down right? I can be in a small trade during the time being right. but ultimately we know one thing and it's either someone's going to make big money on the way up or big money on the way down and those are the moves worth waiting for.

So for all those that are under the PDT rule if direction is unclear, right? as it still is because we don't know if we're going to go up or if we're going to go down, this is where you ask yourself. You know where you really challenge yourself with your patients and you're like, okay, is now the time that I want to utilize my day trades right? Day trades are for those under the PDT rule. in the United States you have three day trades within a five business day period I Just want to make sure that you don't waste all of your three-day trades. and then when the market either does go up or does begin to sell off that you have no trades left.

And then those are the big days, right? Either big red days or big green days And it doesn't matter if they're big red or big green right because there's money to be made on either side of the market. So just wanted to make sure that you guys were aware of that. So I did. uh Leave myself with an open position on Tqq I left myself with 5 000 shares.

Again, it's not something that I would recommend for someone that's just getting started. Uh, but all together on the day I have eighteen thousand dollars in the green. uh and I'm very excited uh to follow up with the market tomorrow. So far as we can see here, NASDAQ Market is in the green.

Um, you guys can see it right on over here. Point: Three percent of the NASDAQ Market were to be open right now. Tkq would be up about one percent if the market were to be open right now. Uh, looking at economic reports, one hour before the Market opens, there are a series of economic reports that are going to be released, but the big ones that I'm going to be paying attention to is the Chicago PMI and the Consumer Confidence Report and those are all going to be after the market open.

So if you're part of my Learn Plan Profit team and you tune on into my live trading session, tomorrow, we will be capturing the Chicago PMI report and also the Consumer Confidence report 15 minutes and then also 30 minutes after the Market opens. So again, other than that, I'll see you tomorrow at Market Open for our live trading session and if you want to tune on in I Keep it, you know. Very simple: You can click the second link in the description down below. Learn a little bit more about our Learn Plan Profit Group and see if it's a good fit for you.

If so, feel free to join. We're running our biggest sell right now and you can watch me trade live as soon as tomorrow at Market Open for our live session. If you have any other questions, shoot me a direct message via Instagram or Discord and that's the first or third link in the description down below. Just wanted to keep today's video super short and sweet.

Also, don't forget I Am using the Weeble trading application. It's free and available to everyone in the US and that's that fifth Link in the description down below. I Appreciate your time like always. Let's make sure that we end the year on our green note.

Take it easy team!.