I Know it just can't be me, but I am so excited for the market to finally start recovering what's going on. Team: it's Ricky with Techwood Solutions here with a super quick stock market Update: We're going to be talking about some economic reports that are going to be Set uh set to be released tomorrow I Hope that you learned something new. Please make sure you drop a thumbs up and make sure that you subscribe and I will keep you guys up to date. So uh.

overall update on NASDAQ Today was pretty much a break even day. It is red and we have to respect it for what it is. But based off of yesterday's performance and based off of how we actually end the day, if you actually take what we're up after market hours, it's actually Green Day But again, people just look at what happens during normal trading hours on the one hour time frame again I Like to focus on a little bit larger time frames when trying to perform an overall technical analysis to have a better understanding of Market Direction First things first: Market is still bearish. We're still getting rejected by the EMA line, making lower eyes and lower lows, right? but we're showing signs of a support right around that 270 range tomorrow.

There are two reports that I'm mainly going to be paying attention to and that is the Consumer Confidence report and the existing home sales. Again, these two reports get released 30 minutes after the Market opens and if you're part of My Learn Plan Profit group, we will be live streaming and trading. Live While These reports are being released. So again, if you want to learn more about our Learn Plan Profit Group to see if it's a good fit for you, that's going to be that second link in the description down below and you can watch me trade live as soon as tomorrow.

But yeah, Consumer Confidence Report and existing home sales are going to be reported tomorrow and again. What are the expectations? So, consumer confidence came in at 101.0 The prior was 100.2 I'm sorry, the expectation is 101.0 So they actually expect consumer confidence to actually go up when it comes down to existing home sales. Uh, we previously reported 4.43 million and we actually expect it to go down to 4.2 million, right? Remember, the market will most likely react in a positive way if we come in lower than expected. It's because of how we perceive the news right of what is actually reported, we're We're trying to look at it behind the glass of the Federal Reserve.

So if the market is actually showing that, it's slowing down, right? So less homes being sold less than expected would actually be a Slowdown in the economy, at least for existing home sales. So therefore that would be a positive notion for the Federal Reserve. Of course, it's not a positive notion for the overall Market, but it's a positive notion for the Federal Reserve. So if it comes in anything lower than 4.2 million, home sales existing home sales again, this will most likely cause the market to go up.

If existing home sales comes in higher than expected, then the market would most likely sell off. As you know, the market is not slowing down as expected. and the Federal Reserve can justify more interest rate hikes in 2023. And again, when asking the question, why exactly did the stock market sell off when the Federal Reserve announced an interest rate hack of only 0.5 percent, it's because of the ongoing interest rate takes the longevity of it right.

How many they planned for 2023, it was more than was than what was expected. It wasn't a point five percent interest rate I mean that within itself is actually lower than expected, but it's the longevity of how many they plan to um, have. uh during 2023. But when you look at this on the four hour time frame I don't know if it's just me, right? I Talked about my position that I have on Tqq right I entered with twenty thousand dollars I'm still holding that I also did day trade right I wanted to show you this I closed my position everything but my one lucky share.

It's something that it's a kind of like an inside joke. uh, that me and my learn plan profit team kind of have. But as of right now, Sqq I locked in my profits I left myself with my one lucky share. Forty two hundred dollars profit on the day and now I'm ready for this to actually begin to sell off right when it comes down to the actual NASDAQ Market I have my alert sets again a goal is something to work towards, not something that actually has to go according to plan.

but if we do break Above This EMA and begin to make higher highs and we begin to trade above that 272 range I Told my Alarm Time Property Team today during my live trading session that is going to be my green light to add more to my position. Remember three stages of a reversal rejection, consolidation and then we wait for confirmation. Once the opportunity does present itself, that's when I will add more, Not everything, but that's when I will begin to add more to my swing trade. and again, if we look at overall with where we're at right now to what it potentially has to offer, you know realistic resistance would be right around that 295 range and that's nearly a 10 return on QQQ which means three times that on Tqq which is roughly around 30 percent right? I'm very excited, but again I just I I'm being optimistic if the market sells off again tomorrow, just like we did today.

I will short the market and not be afraid to lock in profits. There's nothing wrong with day trading, a position that you have no intention of holding for a long period of time. as long as that's your actual intention, right? As the market is oversold. I'm taking advantage of these oversold levels to buy into it, right? Whatever company I see value in I'm shooting to trade NASDAQ ETFs you could be buying into Amazon you could be buying into Apple Being at 52-week lows right at the end of the day.

you choose what you choose to invest in or swing trade or day trade, but you form the plan prior to something happening. so when the opportunity does present itself, you're able to effectively take action. So I just wanted to update you because I know a lot of you guys appreciated my video yesterday breaking down my swing trade and I just wanted to update you guys on this if we do break about VMA what my initial plan is and that's simply adding more as long as we begin to make higher highs and higher lows above that EMA my price Target Again, still working towards that 290 to 295, but there will be a slight resistance most likely as there always is right around that moving average on that one hour time frame. So again, just because something is oversold, doesn't mean that it actually has to recover.

This thing can continue to sell off and that is exactly why we're waiting for confirmation and why my position size is only a fraction of what it could be be prior to confirmation. So I Really do appreciate you guys time again, These two economic reports just want to make sure that you add them to your calendar, set your reminder, whatever it is that you need to do, or if you're tired of guessing and you're and you're ready to actually start learning again I Trade Live Every single day With my Learn Plan Profit Group, they had to watch me Trade live. They get access to our private group chat, they need access to the tech buds HQ and they get access to the A to Z video Lesson Library It's a one-time payment, lifetime access and again, right now it's 150 off and that's that second link in the description. If you're ready to join our team, don't forget about our Christmas giveaway.

We have two prizes to give away and that's the PS5 and the iPad. If you guys want to learn more about how to enter, that's that fourth Link in the description. If you have any questions about what we talked about today, you can always shoot me a direct message via Discord and that's that first link down below. If it's non-trading related, then shoot me a DM via Instagram and that's that third link down below.

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Please consider subscribing. make sure you're aware of those economic reports and again, if you're having trouble with the stock market and one direct message away like always, let's make sure that we're in the year on a green now. take it easy team!.