Nasdaq is testing the support on the moving average. What's going on guys, It's Ricky here with tech Bud Solutions I Hope that you're all having an amazing Tuesday Let's go ahead and recap the day. Uh. overall Skq position 1150.89 all together on the day twelve thousand, Four hundred I Didn't take another trade on Tkq today I actually sold everything including my one lucky share.

Now very quickly, let me explain why. This is what I believe I am or this is what I'm preparing for when it comes down to the market. And let me make this very clear just because I think something is going to happen I don't know what other people say on YouTube I am wrong so many times and I always I'm very open about that. I'm not here to avoid risk I'm here to manage it.

but I'm also here to share my thoughts. so sit back, relax and I got you covered. Uh, so when it comes down to NASDAQ Market why am I in Skq which only goes up when the NASDAQ Market goes down? it's because I believe the Market's gonna go down. Now the reason I believe that is based off previous resistance levels.

Today we actually got rejected and during the aftermarket trading session, we are testing the moving average on the 30 minute time frame. If we break below this at the end of it, look very carefully where we are testing as a support right now. Right around 380 was our old resistance range, right? Old resistance levels become a new support levels. Which means yes, you could find a support here and could begin to recover.

Which means at that point, the 10 000 shares that I'm holding overnight at that point will open up in the red and I'm sharing this with you. If if NASDAQ opens up in the green then I will open up in the red. But it's the reason why I Believe that we could break below the moving average and we can run back down to our previous support range right around 375. that's the plan and the goal that I am working towards with Sqq.

And the NASDAQ Market Let me again rephrase: this. Does this mean the market has to sell off and that Sqq has the reality? Heck no. I can be very, very wrong. But then that's again why I'm reducing my position size from the 35 000 shares down to 10 000 shares? It's because again, my job is not to avoid risk.

my job is to manage it. I See there to be an opportunity where Tkq could begin to sell off, right? So if Tqq begins to sell off and loses four percent, then that means that Sqq could begin to run up and based off of previous highs again, a general resistance range of right around 1820, right? 18 was really the very common resistance level. Uh, and that would offer about four percent. I Would love to average up into this only if direction is in my favor, but I'm not afraid to take advantage of an opportunity which is why I sized down from the 35 000 shares I sold most of it and I left myself with 10 000 shares.

I'm just sharing with you my plan when it comes down to AMD AMD Reported earnings today and at one point it was up over six percent. It hit highs of 125.36 and then began to sell off with the rest of the market. Very unfortunate, but overall earnings per share and revenue were beat with the earnings per share coming in at 58 cents per share Buy a hair with the forecast being 57 cents per share. Revenue was beat with 5.4 billion dollars and the forecast was 5.32 billion.

So again, overall guidance was pretty good for AMD and we'll see what happens tomorrow if the market continues to try to rally in favor of AMD or if it just begins to sell off just as it has been for the past couple of days. When it comes down to tech companies that are reporting earnings tomorrow, we have PayPal Shopify and also Qualcomm that are reporting earnings after the market closes. but it's really on. Thursday Thursday After the Market opens that the big boys come out and play.

and that's Amazon and Apple. These are the two. One of the two biggest I mean Apple is, uh, the largest market cap for any company that's publicly traded sitting at three trillion dollars. So just make sure that you are aware of that that Thursday It should be an interesting ride.

Other than that, when it comes down to economic reports, we have the MBA Mortgage Application index I Wouldn't say that's too important. but fifth, I'm sorry. one hour and 15 minutes before the Market opens, we have the ADP employment change. This should be quite interesting because one hour and 15 minutes before the Market opens, We should see the market react to this as this is a little bit more of a significant economic report.

So if you're part of our Lpp team, uh, during tomorrow's live trading session at Market Open, I'll make sure that I talk about this because again, the Federal Reserve has a really big focus on the overall overall labor markets, and then again, a handful of economic reports that are set to be released on Thursday. But we'll talk talk about that tomorrow. So other than that, just wanted to make sure that I update you guys on the day, not just on my good days but also my bad ones. Today just happened to be a good one and I'm very excited for tomorrow and the challenges that it presents.

Remember I Do trade live every single day. You don't have to watch me trade live, but if you do want to I work with one team and one team only I'd Love for you to get access to our live sessions and that is the second link in the description down below. If you have any questions before watching, shoot me a direct message either via Instagram or via Discord and that's the first or third link in the description down below. I Do appreciate your time.

I Hope that I earned a thumbs up. Please consider subscribing and like always, let's make sure that we end the year on our green. Now take it easy team!.