So what is causing the stock market to push up today? Let's go ahead and break this down again. I Really hope that you guys learned something new and if you do, please consider dropping a thumbs up and subscribing. If you feel like we earned it, let me go ahead and start sharing my screen. You guys can see that the overall NASDAQ Market we got QQQ Um, was hitting highs right at Market Open, pulled on back, held above the moving average and surprise surprise just like it's been doing all week.

it's finding any reason to continue to Rally So one thing that we can see is that we're going back to retest the previous highs on QQQ which is the NASDAQ ETF of 36740. So you can see that we're at these overbought levels. I Would be very, very careful in entering a short position when the market is so so bullish right this week is a little bit different because now Market Sentiment is really beginning to change and following with the economic reports that were released today I would say are the biggest contributor to why the market is pushing up so much today. Check this out.

Market Was down right? So from where we closed at yesterday to where we were pre-market we were down. I Mean we're showing signs of progress, but we were still down all of a sudden. right? 1 hour before the market opened, it gapped up. What happened? What? What shifted in the NASDAQ Market Very simple right.

We talked about it yesterday: 1 hour before the market opened at 8:30 a.m. Eastern time. There's a handful of economic reports such as the non-farm payroll, the non-farm private payroll, and also the unemployment rate. The most significant reports that were being released, these came in way lower than what was expected or for the unemployment rate higher than what was expected.

So non-farm payrolls we have, um, an overall reporting of 150k versus the expected 175k. We have the non-farm private payrolls at 99k versus the expectation of 143. I mean those are very significant misses. Now this is is showing that payroll is dropping.

Which means that you know. Supporting the case of 3.9% the expectation of unemployment was 3.8% Unemployment is going up. You might be asking. Well Ricky Why is that a good thing? We're looking at this to the eyes of the Federal Reserve and remember the Federal Reserve wants to see that our economy, our labor market is slowing down because when the economy is too sound, too strong, and too resilient, that is when inflation begins to go back up again.

And what does the Federal Reserve do when inflation is going back up, they raise interest rates. So by the unemployment rate and those by and and by those non-farm payrolls coming in lower than what was expected and for unemployment rate coming in higher than what was expected, that is supporting the case that the labor market is slowing down and that is good from the Federal Reserve Because at that point if the if the labor market is slowing down then they have less of a reason to justify why they should be raising rates right? And this is why we began to see a shift with the Fed rate monitor tool. At one point, we were at like you know, 15% probability that they were going to raise rates in the month of December But now it went to a 95% probability that the Federal Reserve is going to pause once again and again. A lot of this has to do with the contribution of what was announced today during those series of economic reports.

And this is why I've said it so many times. right? First off, all of you, you guys all should have access to an economic report. You can Google search it. Free Economic reports.

There's a bunch of different websites out there. you don't have to use the one that I use. if anything, the one that I use kind of sucks. Um, but with that being said, it's really important to stay up to date to know the schedule of what is being released on a weekly basis because as you can see, someone could have been shorting the market.

They're like oh heck yeah, right. I'm going to short the market today. Market's down. I'm going to make money Then all of a sudden in one minute there's a quick shift.

Well, it would have not been a surprise if you would have had an economic calendar right? And my job here is just to inform you on how you can better prepare. Never here to predict, but just better prepare. Make you aware of the different variables uh and Catalyst that can affect the market right? Um, so other than that, NASDAQ Market is having an amazing week. from Friday of last week to Monday Market open, we've seen nothing but signs of progress.

I mean the the market literally looks Unstoppable right now just like last week and for the past two weeks right, the market looked extremely bearish. Nothing, even with Big Tech reporting positive earnings, everything was causing the market to sell off for the past previous two weeks. But this week that Dynamic that market sentiment is changing. You can punch air, you can do whatever you can say, whatever it is that you want, but at the end of the day this happens time and time again so you can either work with the market or choose to just I guess, sit on the sidelines and and that's never a bad idea.

like I want to use myself as an example I Missed this play. so during today's live trading session, we saw this initial pullback. I was like oh kids bouncing off the EMA line. It wouldn't surprise me if it bounces I mean I didn't expect it to continue uh to try to rally because the market was already so overbought and I just didn't feel the need to open a position when the market is already so overbought.

So I'm choosing to stay cash and that's okay, right? You don't always have to force a position, especially on a Friday when it's normally slower right and going into a two-day weekend force a position that doesn't really make sense. So I'm just here to remind you that when in doubt, never be afraid to stay cash right and allow the opportunity to truly present itself and not feeling forced or the need to trade when obviously conditions are maybe not as favorable or risk to reward ratios are not there for you, right? So I really do appreciate you guys time. Just wanted to give you guys um and bring you guys up to date on what is causing the overall Market to push up today and that is thanks to all the economic reports uh for the labor market that were released today. So again, I Do trade live every single morning right at Market open If you want to watch me trade live as soon as Monday again uh, it's my live trading uh with Lpp, it's the second link in the description down below and I Want to remind you um, I Do this every single day.

You also get access to our A2Z video Lesson Library It's a one-time payment lifetime access and you'll get to watch me trade live every single day. Also, don't forget to enter our 72-hour BMW Giveaway That just start started today and it ends on Sunday and the winner is going to be selected on Monday If you want to learn more about that, it's the fourth Link in the description down below or head on over to Shop Techbuds Outcom right now to enter. Like always, let's make sure that we end the year on a green note. Take Care Team!.