The stock market is dropping and this definitely is no surprise what's going on guys, it's Ricky here with techbook Solutions I Hope that you guys are all having an amazing start to the week and it's time to get right to it. I Hope that you learned something new and if you do, please consider dropping a thumbs up and subscribing if you feel like wearing it. And if you want to watch me trade live, click the second link down below and I'll see you tomorrow at Market Open. Let me go ahead and start sharing my screen so you guys can see exactly what it is that I'm looking at.

NASDAQ Market Dropped today 1.34 When looking on the 30 minute time frame, we're going back to retest our previous resistance range. I Wanted to draw this line out for you guys just again. it patterns tend to repeat themselves, they don't always have to. Our old resistance range was right around this 357 resistance and you can see on the way down.

it's now acting as a new potential support. When we look at the one hour time frame, we can see that we finally broke below the moving average which again we talked about in today's earlier video and how low can the market go right? The question everyone is asking understand that market has been very, very bullish for the past two months. It was honestly quite impressive, right? The market literally struggled to pull on back for the past two months now. All of a sudden people are scratching their head and they're like, well, what the heck is happening Why is the market now pulling On back? Well, what do you think happens after the market rallies over 20 percent in a short period of time? It's a slingshot effect, right? We've talked about this many times.

If you're part of my Lpp team, you know exactly what I'm talking about. The harder you pull back a slingshot, Obviously, you know when it retraces, the harder it's going to correct itself. The more overbought something becomes, the quicker it drops at those overbought levels, correcting itself more back to its true value, right? And looking at QQQ we can see that based off of previous patterns, we we could expect that if we do break below the support right around 350 seven, if we see that break below support for QQQ, it wouldn't be much of a surprise if the NASDAQ market ends up tracing back down to the moving average. Now, what does that mean for something like Tqq? Well, again, if QQ sells off, this will sell off three times.

That, and that means that we will go most likely from three uh, 37.64 all the way to lows of 33 dollars and four cents losing an estimated four dollars per share. That's over 10 percent from the current price point that we are at right now. So can the market drop more? Of course, will the market drop more? It's not guaranteed, right? and this is why it's going to really pay to be patient in the next couple of days. Will we hold right going back to NASDAQ Will we hold above the support range? But if we don't then again, the market is bound to form lower lows and lower highs.

and that's something that I'm definitely going to be paying attention to with the alarm plan. Profit team during my live trading sessions Is the market trying to recover, but then simply forming lower highs, right? And when something forms lower highs, it tends to form lower loads. And it's this downward staircase pattern that again, can get Nasdaq all the way back down to that 340 support Ranger 342 to be exact, which is where my moving average is. If you're going to ask where my moving average is or what length my moving average is I haven't set a length of 200.

Remember, just because I use a specific indicator at a specifically does not mean that you need to I Just get that question all the time. What was one of our biggest losers today? Tesla Tesla LED The market in the sell-off Six percent down on the day everyone's freaking out. Oh my. God Why is this happening to Tesla Are you kidding me? How come you weren't complaining when Tesla went from 151 all the way up to highs of 279 in a one month period.

Right? Or two month period. Why was no one complaining? Then right? Tesla gapped up 86 in just two months. Less than two months now. Tesla From overall highs to current lows, just current to just four trading days, it lost over 14 percent.

And this is just the beginning. It could be it could be just the beginning, but don't worry, we're going to make sure that we keep you guys up to date with everything that's to come. Uh, for the overall. Market When it comes down to economic reports, remember: I Always like to encourage you for you to be able to have this calendar on your own.

You can just Google search economic calendar and pick the one that's most suitable for you. But for tomorrow on June 27th we have durable orders that is released one hour before the Market opens. So if you see that the market is gapping up or gapping down pre-market it's most likely something to do with those durable orders. We also have the Consumer Confidence Report and as well as New Home Sales which gets released 30 minutes after the Market opens.

So if you end up joining my Lpp team which is the second link in the description down below and you tune on into tomorrow's live trading session, we will cover not just the durable orders but also the Consumer confidence and the new Home sales. Remember I Do trade live every single day. You don't have to join my team. but if you want access to this, if you are lost and you want someone to be able to watch every single day the Market opens, then again.

I Hope to be your guy. That's going to be the second link in the description down below. Take two minutes, learn more about it, see if it's a good fit for you. We are running our biggest discount right now and again it's linked to the second link in the description down below.

I Really do appreciate you guys time. Hope that we're in a thumbs up. Please consider subscribing and again when in doubt, cash out Take Care Team!.