stock was falling Tuesday after the Biden administration said it would be tightening its restriction on exports of artificial intelligence chips to China.
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The Federal Reserve conducts the nationโs monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad; promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole; fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.
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Two main things to talk about today as Market continues to change its direction, let's go ahead and jump right into it. Let me go ahead and start sharing my screen. We got the overall NASDAQ Market Uh, it was selling off during this pre-market session. Two things being the main contributors to that.
So first, um, one of the things that we began to see 1 hour before the market open at 8:30 a.m. eastern time, we saw the market began to pull on back which fueled more selling pressure. Uh, the original um or the factor of that originally was uh, retail Sals So retail Sals came in higher than what was expected and trust me I Agree with you guys like why is something like retail sales coming in higher than what was expected meaning that you know retail sales are performing better. Why is that negative news for the market I Want to remind you that we're seeing this: Through The Eyes of the Federal Reserve and when retail sales comes in higher than what was expected, it's not supporting the case that the economy is slowing down and therefore the Federal Reserve can maybe justify a larger rate hike.
I'm just just explaining to you. Kind of like the thought process behind the Federal Reserve right? If things were slowing down, then the Federal Reserve you know, wouldn't have much to justify more rate. Hik. So this higher than or better than expected retail Sals just supports that very, uh, easily.
Um, it's not that they're going to, it just means it supports the case that if data continues to show that the Econom is not slowing down, then yes, there could be more of an edge on why the Federal Reserve can be more hawkish. Uh, the second thing that I want to talk about is Nvidia stock tumbles as the US Titan restriction on AI chips export to China Uh, so this is again President Joe Biden Last year unveiled restrictions on semiconductor X exports uh to China in attempt to slow down the Uh country's technological advances and keep most of the chip. Industries In the US the new rules announced Tuesday update those measures announced last year. So pretty much what followed up with you know today is that again Nidia stock which was one of the biggest drops that uh, we've seen seen for Big Tech today.
Uh, it's already recovered quite a bit. But if you're asking again, what has fueled some of that selling pressure, it was this: so stock was falling on Tuesday After the Biden Administration said that it would tighten its restriction on exports of AI chips uh to China. So if we look at Nvidia price right now from where it was from all of this selling pressure to this nice little recovery again you you just have to take into consideration uh Nvidia has a one .1 trillion market cap. So yes it does influence overall markets right? It influences NASDAQ It influences then other all other Big Tech And because of that influence and because of this amount of you know selling pressure, it brings the rest of the market down with it.
But obviously since then it's been showing steady signs of recovery and we'll see I Also want to remind you: uh, the past couple of days have been very very choppy. Uh, on the 30 minute time frame, it's very easy to see right? today's Tuesday this was Monday's performance and this was Fridays I Don't know if you guys could see it, but it's very easy to see the high levels, the low levels, the high levels, the low levels, and the high levels. High levels for QQQ tends to be right around 370, right? The low levels support range tends to be right around 16, uh, 364 to 365. Okay, just making you aware of it, right? So you understand the low points, the high points, the low points, the high points. So uh, as of right now, just waiting to see if we continue to show signs of progress. If not, then I'm going to start setting up for a potential trade on Sqq. But again, if you're part of our Lpp team, I'll keep you up to date with that. So I appreciate your time, Hope that we're in a thumbs up.
Uh, we do have a handful of economic reports that are going to be released tomorrow. uh from housing starts, building permits, and um, the Fed's beige book. So again, just something to take into consideration of what can influence the market a little bit more tomorrow. So also Tesla will be reporting earnings tomorrow.
Uh, I do plan to live stream it so just another reason to subscribe if you guys haven't done already. So I appreciate your time I Hope to see you guys in tomorrow's live trading session! I Want to remind you I Trade Live Every morning. You get to see all of my good trades. You get to see all of my bad trades.
It's just a raw live session if you want to learn a little bit more about it. it's the second link in the description down below. I Appreciate your time like always. Let's make sure that we end the year on a GRE note.
Take Care Team.
sold for 60 cents
Bro gave me a dollar in my package ๐ญ
the plunge protection team jumpin in here.. look at the chart.
One note about consumer spending beating expectations. All numbers were revised lower. Inflation is still trending down
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Will you be switching back to TD Ameritrade and Swab?
sorry to hear you got stopped out on your NVDA short Ricky
Thanks for the update Ricky but i found a new way of navigating the market for a while now
Yesterday is Apple today is Nvidia. Tech is getting hit
Bagged $300 this morning Rick.๐ช๐ฟ
Bagged $4,100 in 35 minutes this morning. I got this!
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I will buy NVIDA if it falls to 350
Thank you for the update
Can you review the onschain, I want to buy it
If Onschain is listed on Binance it will be $3000
They made Onschain with artificial intelligence, this is the first project in the world.
What is Onschain? What is everyone talking about?
I bought about 15 thousand onschain tokens from 20 cents and even now my money has increased 3x.
I bought about 15 thousand onschain tokens from 20 cents and even now my money has increased 3x.
What is Onschain? What is everyone talking about?
The onschain team is very strong, and as if that is not enough, the artificial intelligence manages the project ๐
On which exchange will this onschain be listed?
It was written on the official website of Binance and Okx that Onschain would be listed.
Onschain will now be listed on p2b
Dude, its very simple, its shown on the website, if you cant do it, write onschain to YouTube, there are hundreds of videos.
Will Onschain be listed?