I Wanted to ask you guys I know I can't be the only one that feels this way. but I I feel like even Bulls are not enjoying the past few days when it comes down to the Market's performance And let me explain very quickly. So I Really hope that you guys learned something new and if you do, please consider dropping a thumbs up. My thing is that has the NASDAQ been uh, been making progress of course, right? we're at QQQ I Don't know if you guys saw this during the pre-market session it hit 52 we highs.

This is the highest level that we've been at for the NASDAQ QQQ since all of 2023. right? If you look at this going all the way back down right like it's we're at the highest level for 2023, but we've already began to retrace. My issue is is that every day from Market close to Market open the Gap up happens during extended hours. It happens overnight and for day Traders and again, this is the really frustrating part.

Obviously, you don't want to hold a position overnight if you don't want to Toler at that risk, right? Because Market is overbought. What if it just begins to all of a sudden gap down. So now we're in a predicament. Where s from when the time the Market opens right? So we gapped up pre-market we kind of just trade sideways.

There's a little progress but not much and then it continues to just give it all back. We just trade sideways like that's not even fun for the Bulls that are trying to day trade This because the spread is so tight, right? and the same thing with today, we gapped up. we rallied all prear market. then the Market opens and it begins to sell off.

And it's not going to surprise me if this thing begins to try to recover. We trade sideways. it holds its ground and that's great. But guess what? Guess who benefits from that really? Only those that held a position overnight.

Everything else is much smaller spread and it almost doesn't even make sense to day trade. I Know I can't be the only one that feels frustrating in the past just weeks markets performance. and it's because so much of these Gap ups that are happening on NASDAQ are all happening during extended hours or overnight and those are not necessarily Prime trading hours right? So let me know in the comment section what you think about that. but I looked at the overall calendar Vice Chair supervisor Michael bar of the Federal Reserve is going to be speaking today at 9:30 a.m.

which he should already be doing. Um, and then the PPI data report did come out today. Uh, and it came in at 1.3% Guys, this is significantly lower than what was expected. We were at 2.2% Then we came in at 1.3 Expect a was 1.9 So inflation on the producing side of thing has seen a significant drop 1.3% That is really good news, but why didn't the market absolutely Skyrocket Well, it did for a little bit right.

it gapped up and then quickly gave it all back. And it's because of what happened with retail sales. This is a big Focus for the Federal Reserve When it comes down to, you know, monetary policy is our economy doing better or worse right? Remember, they want the economy to slow down and we had an expectation to see a drop in both of these retail cells, but we actually saw a lower drop than what we expected .3% expectation negative .1% actual -2% drop. but we actually saw a gain on retail X Auto And then PPI report came out.

So overall, we're actually seeing that retail sales are going up or at least more than what was expected than um, you know, prior and I think that's the concern for the market is when it comes down to these um, economic reports, we want to see that the economy is slowing down so the Federal Reserve can justify raising interest rates less and potentially posing or cutting interest rates. And when it comes down to the Fed rate monitor tool. Um, as of right now I Wanted to show you guys this very quickly. As of right now, they're saying that there's a 100% probability that the Federal Reserve is going to pause.

We'll see in the next few days and in the next few weeks based off of different economic reports that begin to get released what the market thinks of that. So now that I wanted to ask you guys this now that the market is at these levels I wanted to make sure you were aware. From lows to highs, this is the biggest and strongest rally that the NASDAQ Market has experienced in the shortest period of time in all of 2023. And this is all I Mean, look at this if you look at Tqqq.

From overall lows to overall highs, we're talking about 45% in just what was it, two, 2, and A2 weeks. Insane. But now we're retesting previous highs right previous levels up here. What do you think? Do you think that we're going to continue to show signs of progress on the upside? or are we overbought enough 76 RSI that we have the potential to pull on back again? Something that we'll have to follow up with.

but I just wanted to make sure that you understood on why the market was reacting the way that it was during that pre-market session and to remind yourself right as these uh, economic reports come out and also as the market trade sideways after opening. if you are not seeing your criteria to be met right if there's not enough spread, if direction is not clear enough, if you're not seeing enough progress, don't be afraid to be cash right. If you're trying to trade right. If you're invested, it's a little bit different.

It's obviously different because you have a different intention, but when it comes down to trading, you need to make sure that your risk to reward ratios are met. And if they are not, just understand the power of staying cash, you're waiting for a greater opportunity to present itself. And this is why it's so important and why it pays to be patient. It's again the same message that I shared with our Lpp team.

So I really hope for all of the beginners out there um, are trying to stay patient while Direction uh or while progress continues to lack And let me know down in the comment section what you're doing and effort or kind of like, uh, during this slower period of normal trading hours. so hope that eared a thumbs up. Please consider subscribing I'll make sure that I keep you guys up to date with all the different and new economic reports that are about to be released. Um, and like always, let's make sure that we end the year on a green note.

Take Care Team.