Jerome Pal speaks today at 12:00 Pm. Eastern time. Let's go ahead and talk about how we can prepare. Uh, we also took a great Uh trade.

Uh, during today's live trading session, we just wrapped up. uh and this is again a 30 to 1 hour session that we just had with the Lpp team. Tqqq was showing uh, signs of it being bullish during this uh, pre-market session. Market Open Surprise Surprise.

We see a change of Direction there. It's not really much of a surprise. This happens very, very, very often. Um, and this is why we talk about giving the market the time that it needs to kind of paint its picture for the day, right? How many times have you taken a trade right at Market Open and then end up regretting it because Direction ultimately changes so didn't show signs of progress? uh.

Beyond Previous pre-market highs, We began to sell off and tested pre-market support range right. Right around 3670 we sold off. we began indicating signs of a support. I Took my initial position on Tqqq.

We began to indicate signs of an uptrend and progress above the moving average in the EMA. It didn't go exactly according to plan because it took some time while it. Consolidated But I gave it the time that it needed right? My position wasn't super heavy. it wasn't super light.

It was a total of 5,000 shares. We waited for the overall reversal added. one last time it ripped back up. Obviously the price Target was to sell at previous resistance levels.

My price Target was right around 3725. I ended up locking in profits at 37 23 during that live session. So very simple trade. It's a reversal setup based off of a previous support range and a previous resistance range as a price Target Um, now again, all it's showing signs of his progress.

It's holding above the moving average. We're showing signs of higher lows, which is a good sign as long as it continues to indicate signs of an uptrend. But none of this matters. First off, two things: Tesla is not helping the rest of the market as it's down 7.5% on the day.

and if it continues to sell off due to its larger market cap, it does negatively influence and carry down the market because of it. So not the best for Tech when something so big is actively selling off shortly following its earnings. The second thing that I want to talk about is the Federal Reserve calender. You guys should all have access to this.

This is on Federal Reserve.gov Um, and then this is on under the calendar section. So today Thursday October 19th. You guys can see that Jerome Pal speaks at 12:00 P.m. Eastern Time and this is based off of an economic Outlook You want to remind yourself I mean you're an adult.

You can do whatever it is that you want I don't care, right? But if he says anything that influences the market and he's the head of the Federal Reserve so he's the head of our monetary policy. So if he does say anything and the market begins to digest it and begin begins to react, then yes, we could see a lot of volatility while he begins to speak. so it's good to be aware of that, right? Other than that, when it comes. Toto The economic reports initial claims coming in a little bit lower than what was expected.

meaning less people are filing for unemployment for the first time. Uh, when it comes down to continued claims, more people filing for or continue to file for unemployment uh than what we had last week? Uh, existing home sales came in at 3.96 million. meaning that versus the expectation more people are buying homes, which is supporting the case that there is not an economic slowdown. And there it goes: Tqqq selling off which again is just going to give us another dip by opportunity as we go back to retest previous lows.

So uh, I appreciate you guys' time again. Jerome Pal will be speaking at 12:00 Pm Eastern Time Please Be aware of that. You cannot be surprised if the market begins to adjust and friendly reminder right my trade this morning, my entries, my exits, most importantly, my thought process behind the trade was all caught in today's live trading session. You can watch me trade live as soon as tomorrow, and if you want to watch me, it's the second link in the description down below.

I Only work with one team and one team only and that is my learn plan profit team and that is the only team that gets to watch Me Trade Live. So I hope that in your thumbs up, please consider subscribing. Don't forget to enter our M4 giveaway. Uh, this week is Mystery Box week.

We're giving away an additional th000 entries with every single mystery box and cash in every single order. So if you haven't checked it out, that's the fourth 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 Care Team!.