So super quickly. NASDAQ Market Pulled on back from being very very overbought on the day and very very bullish to a quick change of Direction shortly after the market opened. And this happens so so often. And this is why we always say to our beginner traders that watch me trade live in the mornings is give the market the time that it needs to paint its picture for the day.

It's one of our quotes, it's one of our modos and it's been one of my focuses for 2024. So let's go ahead and jump right into it. NASDAQ Market Pulling on back testing the moving average. It doesn't mean that it has to make progress below it, but it means that it can.

And if it does, then again, Sqqq is the one that goes up when the NASDAQ Market goes down and as of right now you might be like, well, Sqqq is barely up 0.4% No, No, no no I don't think you understand. We were talking about this during the pre-market and normal market trading session and it's from lows to high. This is the beautiful thing. This is the people that this is for the people that do not understand that just because the market is green does not mean that that is what you want today.

Trade the market being green just means that from the previous close to that current price point that that is what um, you know caused the market to be green. But it doesn't mean that for the remainder of the day from when the Market opens to when the market closes, it does not mean that it still has to progress. And this is an issue that we've been seeing happen so often that from Friday's close to today's open, the market gapped up and then people think, oh man, Market has to continue to go up. But no, we made no progress.

We went back to retest the previous highs. We instantly got rejected. It went back to retest and it got rejected. Once again, more selling pressure began to follow.

broke below EMA broke below the moving average and again, guess what slow things down? 5 minute time frame. Now we're testing the moving average again. It does not matter how or what the stock the stock opens at, the stock can open up in the red just like Skq did, but make steady recovery for the remainder of the day and that be the stock that actually makes more money money than any stock that opened up in the green. Remember, it's all about Market Direction and progress.

and if it's not clear then another reason to stay patient. The same thing with Tesla During our live trading session today, we talked about it. It hit highs of 217 I was itching to short it I didn't but it was itching for it. Tesla has a a history of getting rejected for the past few weeks lower lows, lower highs because of what's going on with Elon On the 5 minute time frame, it was very easy to see that it was very over.

On the 1 minute 10 frame it was screaming over. Bot finally began to show signs of progress. On the downside, got that sell signal broke below EMA broke below the moving average and guess what again from highs to low nearly a 4% move on a stock that was in the green. But again, it does not matter that it's in the green.

All that matters is is it showing steady signs of progress? or is it in the green and getting ready to sell off? And actually you can make more money shorting it than actually going long. The thing that I want to remind you is, let's not get crazy with overtrading this week. We do have a handful of companies that are going to be reporting earnings today. Um, not just today.

But after the market closes, we have United Airlines Logitech uh, Tuesday Verizon Netflix But Wednesday Tesla I wanted to d Uh, dive a little bit deeper into Tesla because of its recent performance. But I'll leave it up to you guys. I Wanted to make an exclusive video before Tesla's earning reports come out, What the Market's expectations are, what's been getting factored in, and what the market expects. Uh, when it comes down to it.

So as you can see from highs of 267, Tesla's been getting absolutely destroyed week after week ever since the selloff. Now we're at a $200 potential support range, but again, when it reports earnings, we can easily blow right below that support if it ends up coming up worse to worse than expected. So we'll talk about that in just a little bit. But I Wanted to update you guys on the overall day.

Market's looking a little bit more on the bearish side and we'll see if that continues. It's not that again, the market has to continue to sell off. We are still testing the moving average. The question is going to be are we going to make progress above the moving average or progress below the moving average and that will determine if I want to go long or if I want to go short.

So if you have any further questions about what we talked about today, please do not hesitate. Don't be a stranger. Shoot me a direct message either right now via Discord or Instagram And that's the first or third link in the description down below. And if you want to watch me trade live as soon as tomorrow, that is the second link in the description down below.

and I'll see you at Market Open like always. Let's make sure that we end the year on a GRE note. Take Care Team.