Market is selling off what's going on Team: It's Ricky with techbook Solutions I Just finished our live trading session with our Lpp team. I had my stop-loss set just in case there's a quick change of Direction It's now time to change my stop loss and now lock in profits. So I have a pretty heavy position as of right now, up a little bit over twenty thousand dollars on the day. How and why did I know that the market was bearish? Very simple. lower highs, lower lows. The moving average is a great indicator. never a perfect indicator, but a great indicator to have a better understanding of the overall direction of the market. NASDAQ is selling off and when the NASDAQ Market sells off, then guess what? What do I pay attention to remember I Like to keep my trading simple I like to focus on one thing and that is Market Direction So with that being said, when I thought the market was selling off, I began during the pre-market session, averaging up into Sqq and from not even overall loads, but from current lowest overall highs 3.6 percent on the day, this was all possible during normal trading hours as well or premium Market including normal trading hours. And there was only one point and it was caught within our live trading session that we saw a potential change of direction right around here, right? I was respecting it I had my moving average just in case that I was going to. you know, see that potential change of Direction But um, we did not write. there's just so much selling pressure and I knew that once it got rejected here, we talked about it. You know if we don't break Above This get ready for a big sell-off because this is a big validation for the Bears that the market is still bearish And that's exactly what happened. We sold off, we gapped out we Consolidated that's kind of what we're seeing right now I Expected to consolidate here once again and then sell off to another level. My goal today is to be making around 25 to 30 000 on Sqq, but we'll see which way, uh, the market ends up choosing right. A goal is something to work towards, not something that I actually have to hit every single time. Right now, we're right around 17 to 18 000 and I'm excited. I'm excited to add more to it if directions in my favor and if we do see that change of Direction then I'll have to manage my position size. But remember what's going on with the market right now? Let's not just talk about technicals, but let's talk about overall news. We have CPI data report tomorrow midterm elections that can be reported at any time, right? We also have that issue going on from FTX liquidation and their acquisition from Binance. So much news and the the FTX and the Binance uh issue with Bitcoin and how Bitcoin had a flash crash and how it created a flash crash for the NASDAQ market yesterday. I Don't know if you guys saw this but this aggressive sell-off It's insane. It's insane that like that's not even news that I was paid attention to, right? I Don't pay attention to crypto. It's not. It's not part of my focus but to see how something like that you know so small. But because it could influence the market so big like Bitcoin that it can shift overall markets and just shows you how sometimes a lot of these markets can be connected um and skeq just again. an amazing and amazing setup. Am I going to hold this position? Let me make this very clear: Am I going to hold this position tomorrow Pre-market for the CPI data report because I think that the Market's going to sell off? No. I Do think that the CPI data report will come in worse than expected, but it does not matter what I think I am and I will tell you this personally. I am irrelevant to the stock market. My opinions are irrelevant to the market. It does not matter what you think, it does not matter what I think and I mean that in an encouraging way because it only matters what is reported and how the market reacts. There's many times that the market can report something, but the market reacts completely different. Stop making it about yourself. Stop making it about other people Understand that our job is not to predict the future. Our job is to prepare for it and what is the best way. And I'm repeating this over and over again because I know as as long as I get one person that understands that that's all that matters because I know I've said this over and over again and people will still bag hold, People will still hold a very aggressive position. leading up to that CPI data report and Market if Market crashes and Market drops, they will blame everyone else but themselves. Well, what about all the time that you had to prepare to reduce your position size? What about all of the time that you had to prepare to either cash out right to lock in profits on what you were up already? Why put yourself in a position that you cannot tolerate tolerate? This is the part that just is so baffling to me is that beginners expect to experience a different end result but continue to implement the same bad habits. and not just in trading, but this is in life. How can you expect to be better if you do nothing to change your habits that you you know put into effect every single day. the stock market is no different. You cannot continue to make the same mistakes and implement the same bad habits and expect a different end result. That is literally the definition of insanity. Doing something over and over again and expecting a different result. It's insane, right? Economic reports that were released today Just so you guys are aware, Eia inventory report came in 3.92 million barrels, right? and then we had some that were reported. During that pre-market session, we got mortgage applications that actually dropped 0.1 percent, but prior was a drop of negative 0.5 percent. So at least it's dropping, but not as much as we'd wanted to, right? My big concern for tomorrow and again: I'm just going to explain this to you. it means nothing with how I'm actually going to trade it I told you how I'm going to trade tomorrow and I'm going to stay cash I don't care if the market goes up I don't care if the market goes down I'm going to State cash and I will trade. The reaction: I am irrelevant and insignificant to the market and I respect that and I understand that and that is why I'm staying cash. but I think that tomorrow the CPI data report will come in hotter than expected because of energy. oil production has been slowing down and when oil production has been slowing down by 2 million barrels a day. Supply I'm sorry and demand stays the same. It makes sense on why prices have gone up right from September to October and this report that's going to be released tomorrow is the October reading right? because October is now fully done I think it gets reported sorry headphone users it gets reported in the month of November so that's what I Think I think energy is going to go up I Think oil is going to go up and what is the largest contributor of inflation right now? It's energy and oil. Look at the numbers, look at the numbers. Go to Bls.gov if you know how to read it. I've made videos before on how to read this and look at the actual PDF and look at what section what area has the largest rate of inflation year over year, then you will easily see energy right here. Energy Sector: very easy to see. It is very easy to see that energy is the reason why inflation is so so high and the domino effect of it. I Think core CPI Will also write for at least for the past two consecutive CPI readings. Uh course API has been higher than expected and I expect the same thing for this. CPI data report I Expect it to be higher than expected. So there goes twenty one thousand dollars on the day markets still selling off I Love to see it the more that NASDAQ sells off, the more that Sqtt pushes up and again. This was all caught in our live trading session today. so I'm excited to host that live stream tomorrow. I'm going to keep you guys up to date. Just make sure that you guys subscribe to the channel and drop a thumbs up on this video. If you have any questions I cannot answer any of your questions if you do not reach out to me right? I'm available via Discord and I'm available via Instagram That's the first link in the description for Discord or the third link in the description for my Instagram Remember I'm verified on Instagram That is my only Instagram account, no exceptions. 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Take two minutes and click the second link in the description and see if our learn plan profit Group is a good fit for you. Right now, we're running one of our biggest sales and it's 150 off and again, it's a one-time payment so you can either choose to sign up or try to figure it out on your own, right? I Really do appreciate you guys time. Hope that we're under thumbs up. Please consider subscribing And like always, let's make sure that we're in the year on our green now. Take it easy team.!