So let's talk about this beautiful recovery on the NASDAQ Market What's going on team. It's Ricky with Technical Solutions And just like we talked about in yesterday's video, there was initial claims and continuing claims report that was going to be released today one hour before the market opened. but from the time that it was released to how the market is trading now is very different and let's go ahead and dive right into it. I'm going to start sharing my screens.

you can see exactly what it is that I'm looking at. This is the Weeble trading application and if you want to download it, it's free for everyone in the US. It's the application that I use to trade every day and it's the fifth Link in the description down below. And make sure if you do choose to sign up, you deposit at least five dollars and you'll earn up to 12 free shares just by using my link.

Without further, Ado NASDAQ Market did not start in the green, it's up 0.68 I Want to show you this So before we even get into that initial claims and continuing clinch for those that are unaware, initial claims are people that are filing for unemployment for the first time. This the second one is continuing claims. People that continue to file for unemployment. Very simple to understand, right? So it was to be expected, right that if more people file for unemployment meaning that you know as they did, 228 000 people filed for unemployment versus two hundred and three thousand.

So right away you know that is showing more people are filing for unemployment So possibly more people are losing their job and therefore need to file for unemployment. So therefore, uh, we can make the Assumption. It's just a guesstimate, right? We can make the Assumption based off of this report that the labor market is slowing down and the Federal Reserve likes that right? At least they did. The part that I was very confused and we talked about it during our live trading session today with the Lpp team is.

Once this report was released and again, this was one hour before the market opened. we we gapped up a little bit and then we began selling up. and we were making lower lows, lower highs. And it was kind of like yesterday where I was like I.

Don't know if the Market's just selling off because NASDAQ was overbought, but I'm just gonna run with it right? It ended up selling off and it happened so beautifully. and this is why I I stated uh, what a beautiful reversal for the bolts, right? Because just like we talked about yesterday, the NASDAQ was overbought. We retraced back to the moving average on the one hour time frame just like clockwork, just like it did before. right? patterns tend to repeat themselves.

They don't always have to, but this is where technical analysis can be of value. It's never perfect, but this is where it could be a value, right? Because when asking the question, well, where are we going to show signs of a support other than this moving average, there is no indication right that it would have found a support here, right? but it also aligned with the previous highs. If you guys look at previous resistance levels right around 3 13 that was a previous resistance range for Nasdaq which is QQQ But as you can see, we were traced back. we broke above it and then made new highs.

Now we pulled on back and if you look at our current support at 313, our our new support was the old resistance. Right patterns tend to repeat themselves, but of course they don't always have to. This is where again technical analysis can be very valuable. We retrace back to the moving average.

we found signs of a support. It just began to take off and this is on the one hour time frame. We broke above the EMA line and it looks like it's trying to make its way back up to 322. and again when asking the question, why why why why this quick change of Direction In my opinion, it really didn't make sense on why the market was selling off this morning and you guys know again, I'm all for shorting the market I Wanted the market to sell off, but when looking at this report, this does support the case that more people are filing for unemployment and that does support that the labor market is slowing down and that's what the Federal Reserve wants to see, right? It's not how I want to interpret the data, it's how the Federal Reserve will interpret that data and then determine if they're going to raise rates even more or justify that.

Hey, you know we are showing signs of you know the economy is slowing down. This is all. Thank you to or all thanks to our interest rate hikes. Now we can begin to slow down and or potentially pivot and the stock market would love that right? How great would it be for the stock market and Banks to no longer have to experience interest rate hikes, but possibly interest rate cuts? It is to be expected that as of right now, the market is factoring in that by the end of 2023, there will be rate cuts of 1.25 So that means instead of raising rates, they expect to cut rates by the end of 2023.

And and that's great for people that want to borrow money. And that's great for people that potentially want to buy a house right at that point, right? Especially if you're into real estate. How does that transfer into that? Well again, if we begin to cut rates, it's going to be less expensive to borrow money, lower interest rates, and therefore hopefully more demand can take over our current Supply Very simple to understand, but as of right now it is a bull run. Will this continue again? This is what I'm looking at I View this based off of this recent rally.

If you look at QQQ from current lows to overall highs, this is a 1.7 percent move. Although NASDAQ is only up 0.74 on the day. Remember: I Say this all the time to our Lpp students. Don't Focus so much on what it's up on the day.

But remember if you're a trade or a day trader right then you're trying to make the money within the day and the the margin and the and the volatility that it presents itself within the day can sometimes be much greater than just whatever it shows on the 0.7 seven four percent. Sometimes people love to ask like Ricky how'd you make you know four percent on a trade When the market only moved two percent when it ended two percent of the green It doesn't matter where it ended at right, because where it ended where it started at doesn't mean that that's where I bought. right. When the market sells off, it provides a dip buy opportunity for those that saw it to be fit.

and then once the market begins to recover Even by this time when we broke Above This EMA line the market was still in the red and it wasn't until we actually began to surpass yesterday's close which was right around 315.70 that that was the break even and we had all of this margin down here to work with for it that was still in the red. So I think that's the beautiful thing about the market is that there is so much money to be made regardless if it's a bull market, regardless if it's a bear. Market as long as you don't over complicate it and as of right now again, in my opinion, I Still believe the market is overbought, especially after this run today. But I have to give it to the Bulls where credit is due.

Um, an amazing Bull Run that's showing signs of higher highs and higher lows and regardless of how much I want the market to sell off, there is no confirmation of a sell-off. We are above the EMA and we are above the moving average and you either respect it or you pay the price for it, right? So congrats Bulls If you guys have any questions, feel free to reach out to me. Uh, we have QQQ up 0.7 on the day and Tqs uh, three times that which is two percent on the day. So I do want to remind you that tomorrow the stock market will be closed.

Uh, there will be a series of reports that will still be released, but the market just won't be open for it to react to it. Also, don't forget again our GTR giveaway if you want to be able to enter, especially if you want access to our live trading sessions. Second link in the description down below to one-time payment, lifetime access, and for every new member right now, it's 50 000 cash or a 2019 Nissan GTR that you get entered to win and you get 5 000 entries for that. So again, if you want to learn more about it to see if it's a good fit for you, just take two minutes.

Click the second link down below and then we'll see. Um, you know if it's something that you find to be a good fit for you. Other than that, I Really do appreciate you guys time, hope and wish you guys an amazing! Thursday An amazing weekend Good Friday And of course happy Easter Like always, let's make sure that we end the year on a green note. Take it easy team!.