So let's talk about the magic number right now. let's get on team. It's Ricky with the type of solutions. Hope these are all having an amazing Friday And of course an early start to your Merry Christmas Uh weekend as of right now NASDAQ Market has been pulling on back.

We are in the red. Not much, but we are in the red I Wanted to talk about a series of economic reports where the market currently is at Um and just kind of an overall market update. So if you're part of my Lpp team uh, you would have seen that I reduced my position size from a hundred thousand dollars in TQ is down to twenty thousand dollars because obviously the market sold off like it like we've never seen. Just kidding.

it sold off a significant amount yesterday. So a way to be able to manage my risk is to manage my position size. so just updating you guys on that. But uh, today there was a series of reports that we've talked about uh that were reported one hour before the market opened.

Those were the Pce prices and the durable orders, the ones that have mainly an influence on the overall Market Uh, and all of these really came in higher than expected except for durable orders. orders actually came in lower than expected. Again, right now, bad news is good news and good news is bad news. So this was really the only positive thing for the Federal Reserve Uh, everything else.

PC Prices. All of that, even everything from our new home sales I Mean it should reflect right now: 640 000 This was reported one hour after the market. uh, sorry, 30 minutes after the market opened and so was the Michigan uh consumer sentiment. Uh, all of these came in better than expected.

Expectation was 600k. As we can see here for uh, the expectation for new home sales and what that means exactly is this thing tracks month after month. how many properties that are new that have been sold right? And the expectation was 600 000. previous was 605.

It actually came in a lot hotter than expected 640 000. Initially, the market went up, then it sold off. It looks like we're kind of peaking because of the sell-off that happened yesterday and this is one of the things that I want to talk about based off of yesterday's sell-off weight at lows of 262.46 So pretty much 2626 the R50 and we went back to retest that same level. We didn't make new highs I had a position in Sqq and it was very easy to see that again.

If we're not showing much progress, right? We keep talking about this: progress, progress, progress. If we go back to retest that same level and then we are not seeing any new higher highs, then why do I still have an open position shorting the market right? If we're not making any more progress and selling out. So that is why I reduced my position I closed it on Sqq and now we're focused on TQ So I wanted to provide you guys with a quick little update. Overall: Market's still very oversold Market's still very bearish on the larger time frames I'm not here to sugarcoat things, just because I'm bullish does not mean that you need to if anything I prefer for you to have your own opinion on maybe either why you stole cash or maybe why you're still showing the market there's no right or wrong I just I Want to provide you an update on on my thoughts based off of QQQ and again it's very easy to see.

We can see our previous support range right around 260 for QQQ which is the NASDAQ detail if we are showing signs of consolidation, but we are not showing signs of higher highs and higher lows above the EMA. That's essentially what I'm looking for next. as we saw last time, we saw a nice little rally but we got rejected off that four hour time frame and I think a lot of that just came to my came down to my obsession on the one hour time frame. So as we could see, the four hour time frame has definitely been more.

um, I would say accurate in the sense of what's been acting as a resistance level and what's actually confirmation when we break above that EMA and make some higher highs. So as right now we are very oversold based off of where the NASDAQ Market is at and based off of you know a common resistance level. right around that 295 it offers around 11. Roi.

So 11 Roi would equate to around 33 for T QQQ right? Just because I see potential and just because I see value in Tkq does not mean that you need to. But when I see Tesla at lows of 125, when I see, you know Apple at lows of 130. when I see loads of Amazon at 185. I'm sorry 85.

I just get really excited for my long-term positions. right? These aren't day trades. These are positions that I don't mind swing trading and or holding for a much longer period of time. and that's kind of just you know.

Uh, what? I'm sharing with you is what my intention is. My intention might be completely different than yours. That's why I'm sharing the why why I see value in something because I have no intention of selling it anytime soon I want to get in position Now that's light. add more to it when it begins to indicate signs of recovery, which we have not yet, so there's no reason to add more to it.

But once we do, then I can add more to it. And once we have that confirmation, I can get fully invested and once it begins to recover and approaches previous resistance levels, I can lock in profits Again, A plan A goal is something to work towards, not something that has to be hit every single time. And just like we saw for this past week, my plan started off well, right and then in one day it gave it all back and I had to reduce my position size, manage my risk and that's just part of life that's part of trading. Our job is not to be perfect, our job is just to hold ourselves accountable, especially with this very volatile Uh 2022, right? We're just here to implement and try to Empower you to you know have good habits and I hope that that's what exactly this video does.

So just wanted to make sure that you were aware of the different economic reports that were reported. uh and if they came in lower or higher than expected. So again, if you have any questions, you guys know how to reach out to me that's going to be the first link in the description and that's going to be via Discord I Hope and wish you and your loved ones a happy Holidays and Merry Christmas and friendly reminder If you want to be able to join my Learn Plan Profit Team, our Merry Christmas sale is our biggest sell to 150 off and it's the second link in the description down below. So if you want to be able to watch me train live every single day I Work with one team and one team only and again it's Stop guessing, start learning.

That's our Learn Plan Profit 2.0 if you're ready to watch Me trade Live every single day for 2023 If you want access to our complete beginner, uh, friendly A to Z video Lesson Library our private group chat and access to the tech. but HQ Remember it's a one-time payment lifetime access and it is all included for that one-time payment, right? And right now it's 150 off, which is the biggest discount that we offer. The last thing is our giveaway our Christmas giveaway. We're going to be giving away these items that you see back here.

If you want to learn more about how you can enter this Christmas giveaway for a chance to win either a brand new PS5 or a brand new iPad then I'd encourage you to take two minutes, click the fourth Link in the description, learn a little bit more about our giveaway and see how you can enter. We will be announcing the giveaway winner this Monday Which means that on Christmas the giveaway actually ends. So like always, continue working hard to continue falling dreams. Let your passion be a drastic success.

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