This is absolute Madness right now with what's going on with the overall: Market NASDAQ Market continues to make new highs and stock market does not look like it's pulling back by any means. Um, I'm setting up for one thing I just wanted to make a video breaking it down. It doesn't mean that I'm going to take the trade, it just means that if my criteria is met, that's what I'm going to be choosing to open up with, right? So overall: NASDAQ Market Very bullish, Higher highs, higher lows, everything is following. Apple Running up Amazon Running up I mean Tesla is the only one that isn't running up.

Meta running up Microsoft Google Nvidia AMD Tesla's the only one that's still in the red, right? NASDAQ Market is so overbought that if we do get confirmation of this thing breaking below the EMA line, I'm going to just enter a short position. wanted to make a video guys sharing this with you guys even before I actually take it. but this thing just. well.

First off, it is so bullish that I don't want to enter right now, right? So bullish that this thing can continue to form higher highs and higher lows for the remainder of the day. But if it's anything like it was right at Market open where it gets rejected and then sells off and then comes back to retest the moving average. That's essentially what I'm looking out for I Just want there to be indication that yes, we have peaked, we are going to begin to sell off. And then once it does begin to sell off, that I can choose to strike.

It's the only thing that I see to be fit because going with Tqqq as of right now, it is so overbought that the risk to reward ratio just doesn't make sense to me. The only thing that I can see to be able to justify is a very risky trade I'm not going to sugarcoat it, but once we do get, confirm if we do on Sqqq and we break above the moving average right around 1820. and if we begin to show signs of progress, I would love to trade it from 1820 and work our way back up to that previous resistance of the moving average which would be right around 1840, 1850 and stuff like that. So um, I'm going to be very patient today.

I'm going to set my alerts if it never pulls back then I will never take the trade. but I just wanted to share that with you guys. Uh, Also, when it comes down to the economic report that was already released with the Trade Balance report released at 8:30 a.m. and it came in at netive 61.5 billion with the expectation of 60.1 billion so a little bit worse than what was expected, but not too much according to the Federate monitor tool.

Again, there's a 90.4% probability that the Federal Reserve is going to raise I'm sorry pause interest rate and a 9% uh, 99.6% probability that the Federal Reserve is going to raise uh, as of Tuesday again at 10:00 a.m. eastern time which should be already happening. If not, it's already over. Uh, we have Governor Christopher Waller that's going to be speaking but again, the big one tomorrow Jerome pal 9:15 a.m.

and then we have on Thursday Jerome pow at 2:00 P.m. eastern time. you guys can let me know down in the comment section. if you want me to live stream that I'd be more than happy to.

But as of right now I mean Market sentiment is so bullish that it doesn't like I I It is so overbought that I would rather stay cash than to go into Tqqq. But if we do get confirmation of this thing selling off and showing signs of progress, on the downside, that is the only position I see to be fit and then once it does sell off and comes down to the moving average, if it validates that as a support, then I would love to entertain the idea of potentially entering Tqqq if it bounces off of that moving average. but as of right now, if it continues to Rally if it continues to rise, NASDAQ Market's already up 1% Tqq is already up 3% It's just the risk to reward ratios just wouldn't be worth it. I've missed the play already.

So now the only thing that I can set up for is to Short if I get that confirmation. Just wanted to make you guys aware ahead of time. If we get it great. I'll announce it with our Lpp team via trade ideas and if not, then I'll just stay cash and wait for the next setup right? We don't have to trade every single day and today is a great reminder of that, especially if you end up missing out on that play.

So If you have any questions, please do not hesitate to reach out. Um, you can message me via Discord or via Instagram which is the first or third link in the description down below and again I Do Trade Live Every single morning. You get to see my good trades. You get to see my bad trades, get to see every entry and every exit that I take during that live session if you want to be able to see this as soon as tomorrow.

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