So NASDAQ Market is in the green and this is shortly after this PPI report was released. Let's go ahead and talk about what is currently being digested by the stock market. What's going on, guys? It's Ricky here with Tackpot: Solutions I Really hope that you learned something new, and if you do, please consider dropping a thumbs up and subscribing to the channel if you feel like we earned it. So as of right now, overall, NASDAQ Market is in the green NASDAQ is up 0.81 We are looking a little bit more on the overbought side, so if we break below this EMA be ready for a potential pullback to retest supports at 374..

But aside from overall NASDAQ Market what was announced today, let's go ahead and break down these different economic reports. These were all released one hour before the market opened. Initial claims and continuing claims are the number of people that are filing for unemployment or initial claims are the people that are filing for unemployment for the first time. Initial claims came in at 220k when the expectation was 226k.

That means that less people are filing for unemployment for the first time than what was expected by about six thousand, not too significant continuing claims coming in nearly at what was reported last week. So again, those are the people that are continue to file for unemployment PPI and Core PPI Core PPI came in as expected. Overall PPI came in higher than what was expected. very similar to our CPI report that was released yesterday now.

retail sales came in a little bit higher. a little bit better than what was actually expected, showing a strong economic growth. Now one of the things that I also want to talk about are and is what was announced today. So for those that are unaware this is overseas, the European Central Bank So European right? Um, economy.

The European Central Bank raised its key rate to a record high. Official signals that this is their test. A 10th consecutive rate hike and will likely be their last. So again, this is kind of like where they are still raising rates.

kind of like how we were when we were raising rates 0.7 uh or three quarters of a basis. Punch right? they're uh being very I would say aggressive or very hawkish with their rate hikes. Now what is being digested by the stock market right now. So Thursday Producer inflation and retail sales report alongside with the CPI yesterday showed that gas prices.

This is what everyone continues to say. gas prices are something that are that is causing our inflation rate to come in higher than what was expected. For those that don't understand that in both CPI and in PPI, gas or energy is a big Focus right? Especially when inflation hit highs of 9.1 percent. Energy sector was a big contributor to that right? As of right now, it's also being a big contributor on why we saw a nice little push on our inflation rate.

I Would I don't I don't want to call it a nice little push Um, it caused our inflation rate to go higher than what was expected because gas prices and energy prices are more expensive or were more expensive in the month of August This is causing inflation to go back up. We hit lows of three percent. Now we're back at 3.7 percent for overall CPI But our Core CPI is dropping. And remember, this is one thing that they do highlight in this article and it says the Federal Reserve tends to ignore volatile gas prices in its inflationary or inflation gauges.

Yes, because they understand that food and energy are not something that they can really moderate with raising interest rates, but I wouldn't say that they ignore it completely. Right when we talked about the 9.1 inflation rate, uh, you know, mid last year, it wasn't like they were ignoring that 9.1 inflation rate, right? That included and gas contributed to that inflation rate, so it was still taken into consideration. But when it comes down to core CPI, it is just a more important Focus for the Federal Reserve And that is everything excluding food and energy. So I Just want to make sure that you understand that if you're reading articles like this that you don't think that the Federal Reserve completely ignores it.

but that yes, they do have a larger focus when it comes down to Core CPI So taking that into consideration, our big focus is for next week next week For those that are unfamiliar with it I Want to share with you this Um website and this is from Thefederalreserve.gov This is the calendar. This is the schedule and next week we are set to have on Wednesday September 20th the Fomc meeting. This is when the Federal Reserve will announce a rate hike and remember 30 minutes after they announced the rate hike or rate pause Jerome Powell Who is the head of the Federal Reserve will be speaking in a live right? I will be live streaming that live and making sure that we catch the Market's reaction to that Fomc rate hike or rate pause simply rate decision right? So it's just another reason to subscribe if you guys haven't done so already. So again, as of right now, NASDAQ Market you guys let me know what you think.

But if you look at this on the five minute time frame, we are literally retesting the same resistance range that we were testing earlier this week. If I'm not mistaken, this was Monday Tuesday Wednesday and today being Thursday we are testing that same resistance range at 377 and we will see will we show signs of progress or is this going to be the same setup and leading to a potential pullback all the way back down to 372.. So remember if there's no signs of continuous progress, any open position is a position that's open to risk and just something that I want to make you aware of I Do want to remind you I Trade Live every single morning and even today, right every single morning right at Market open. I Go live with the Lpp team and we talk about all these different economic reports as they are being released in real time.

Just like you saw today. there's quick changes of Direction and these were all caught in our live session. So for those that are unaware, again, when the Market's selling off, when the Market's beginning to show signs of a support when we get confirmation when it begins to Rally this was all caught in our live and then moving forward. I Keep them up to date with my trade ideas if you are tired of missing out and trying to figure this all out on your own.

I Encourage you to take two minutes, click the second link in the description down below and learn more about our learn plan profit group and what it would be like to get access to my live trading sessions every single day. I Do want to remind you it is a one-time payment, lifetime access and we're running our biggest sale right now. So again, two minutes click that second link down below and I Hope to see you in tomorrow's live session I Hope that I earned a thumbs up. Please consider subscribing And like always, let's make sure that we end the year on our green note.

Take it easy team!.