So what a beautiful day to be a bear! What's going on team? It's Ricky with techbook Solutions And finally after three consecutive red days last week, I shared it with you guys all on YouTube on my social media I was having a rough patch right? uh I came back today and we did pretty well. So let me go ahead and share this. Uh 15 429.49 I left myself with my one lucky Sharon just so you could see I did not trade Tkq today I just have one share there and I'm not touching that one. Uh, as of right now.

So what happened today and what caused the market to sell out for those that are unaware, ask Kiki Q goes up when the NASDAQ Market goes down like a lot of you guys already know uh Jerome Powell was testified in front of Congress and I hosted that free live stream. Part of it was really hard to watch. it's just it's crazy to see how old and how not connected. I would say with today's world some of these you know gentle men and gentle women are kind of like they're in their own world right? So uh Trump for his age I have to say is as a complete G Um, he spoke at 10 A.M eastern time 30 minutes after the market opened and then he speaks tomorrow 30 minutes after the Market opens.

I Wanted to ask yes, do you want me to host that free live stream? If so, I am going to ask you to get this video to over 2 000 likes. That's it. Subscribe to the channel, get this video to over 2 000 likes and I would be more than happy to host this free live stream. And it was a lot of fun, right? Um, one of my uh, well, one of the things that I wanted to talk about is one of the things that we were all looking out for, right? What was the expectation is? was he going to be dovish meaning less aggressive or hawkish? more aggressive? There wasn't anything that really stood out to me, but one thing that he continued to repeat is that uh, being completely honest I mean the congressman and congresswomen were not even really asking him too many questions about our current inflation rate and about future interest hiked.

They were pretty much trying to push their own agenda and have him agree with whatever it is that they were trying to. I mean they're very good with. you know, trying to I would say put together a question that is favorable for them and or their political party. I wish there was more questions about.

You know, are you going to continue to be as aggressive with future interest rate hikes than as expected, right? Just kind of like the FED President from Atlanta said that he supports and is in favor of a lower interest rate hike. This would have really helped out the market, but one of the things that Jerome Powell said is that he commented on. you know, the economic data that was released in January was not the best. It wasn't horrible, but it was not the best.

That based off of that current expectation of February and what is reported in the month of February is anything close to that, then yeah, they will most likely have to be more aggressive with future interest rate hikes than aggressive. And that's where that selling pressure really began. We originally sold off, even when the mark when that live stream did you know was just about to start. And that was the crazy part because he wasn't even speaking yet.

right? it was I would say just getting factored into the market. And this shows you right? So when you're asking the question, well, why did the market even recover exactly because the FED President of Atlanta opened his mouth and he has no voting rights on interest rate hikes yet he opened his mouth and shared his opinion. That was completely insignificant to what actually is going to happen. And there is no question, at least in my opinion, right? There is no question that the Federal Reserve based off of recent economic data will have to be more aggressive with future interest ranks.

The big question that a lot of people are paying attention to this week is the unemployment rate and then also the non-farm payrolls. How many jobs were created in the month of February and did unemployment rate go up or unemployment rate go down? Let me explain to you. there is a weekly report. So this is a month for your report.

The unemployment rate, right? There is a weekly report, initial claims, and continuing claims. It's the number of people that are filing for unemployment that is reported on a weekly basis. Again, this is not rocket science, right? So this is a weekly report. and every single week in the month of February it came in lower than expected.

meaning less people are filing for unemployment checks. So what does that tell you? If all of February they continue week after week to report a lower than expected. Um, what's it called for for? Uh, my goodness. Low.

Wow. I'm I'm I Lost my train of thought for a little bit. but for all of February there were less people that were filing for unemployment. It was the same thing that happened in the month of January and that's what I think is going to get reported by the end of this week.

Right when the unemployment rate is released, we have an expectation of 3.4 percent. With the current rate at three four, three point, four percent you think I think that unemployment stayed the same when I'm seeing every single week. even now, right? even just last week, that's not even February Every single week, less people are filing for unemployment. Well, why would they not file for unemployment anymore? Well, most likely because they got a job just like Jerome Powell said.

Right now, there's two job openings for every one person that's looking for a job. In my opinion, 3.4 percent is way too low for an unemployment rate and then you have Elizabeth Warren trying to point the finger to Jerome Powell and blame him. Okay, so you're just gonna be okay with two million people losing their jobs I Mean we were doing just fine when unemployment was at four percent. and let's be honest with all the people that we know: do you really think that only four percent of the US population that's looking for a job shouldn't have one? I Know we all know a couple of videos and we're even surprised that they're even employed.

There is no question that the Federal Reserve in my opinion, will be raising interest rates more than what is expected. So a point five percent or higher, and in my opinion, there's There's no question that unemployment rate is going to come in lower than expected, which is only going to support the case of the Federal Reserve needing to be more aggressive. So if you're a bull, what is your best case scenario? The best case scenario is that if we get as close to 3, 4, 3.4 percent than what is expected and that the non-farm payrolls are as close to 205 000 jobs being created. If it's any more, or if it's any less, then again, be ready for a sell-off If you thought today was a sell-off once we break this support at the moving average, I think by Friday we're going to be closer to that 290 and if we break below that 290, do you know what happens then? right from 290 that was our previous support level.

we can go on the four hour time frame, right? Our next support range is 260. talk about making money shorting the market Man I am ready I Don't know about you guys and again, the only people that freak out when the market sells off are those that did not prepare. So if there's any people in the comments section that it's just like you just want the market to crash, Yes, because I want to buy things for a better price I want to buy things for a better deal I'll make a little bit of money just like I did today on the way down, shorting the market 15 000 right? I'll make I'd love to make 10 15, 20 000 every single day as the market sells off. and then I'm just gonna try to put myself in a better position for my long-term place because we all know markets eventually will recover.

but the Federal Reserve still has to reduce their balance sheet and the Federal Reserve. There is no question that inflation is super sticky right now and the Federal Reserve is going to have to revert back to being more hawkish than being dovish meaning more aggressive with future interest rate hikes. And again, this is something that he plans to talk about tomorrow in his Fed Live stream which will be 30 minute after the Market opens. I will be live streaming for free for only the people that subscribe to this Channel and if you get this video to over 2 000 likes I Appreciate your time, hope that we're in a thumbs up.

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