Hey, what's going on Team? It's Ricky with techbook Solutions Hope that you guys are all having an amazing Wednesday What is in store for tomorrow? Thursday There are a series of economic reports that are set to be released. Uh, the most important ones are literally probably within 30 minutes of the Market opening or prior to the Market opening. So if you're unaware of this again, sit back, relax and I'm going to break down everything it is that you need to know for tomorrow. I Hope that you learned something new and if you're new to the channel, make sure that you subscribe and drop a thumbs up as I would love to keep you up to date and be of value to you when it comes down to just getting started in the stock market.

If you have any questions about what we talk about today, I'm always one direct message away, You can send me a direct message either via Instagram or via Discord and that's the first or third link in the description down below. Without further, Ado Let's go ahead and talk about the NASDAQ Market Where are we sitting as of right now? Are we still extremely bearish? Are we extremely bullish? What's what's going on, right? If you're part of my Learn Plan Profit Group one of the main things that we cover within our Lpp Lawson Library are the three stages of a reversal. They're one of my favorite patterns to trade and I want to share with you. So the pretty much the three stages of reversal talk about rejection, consolidation, and then confirmation.

So if I were to ask you, you know, hey, are we during, Uh, or are we experiencing rejection? Consolidation or confirmation right? Don't get confirmation and consolidation confused, right? Confirmation is when we are actively indicating signs of an uptrend right and normally so on. Those four hour time frame for QQQ QQQ is a NASDAQ ETF it goes one for one for the NASDAQ Market The really great thing about this is I You know you first ask yourself, okay, Are we oversold? Are we at a potential support level? We're looking at previous lows? It's very easy to see that you know you can be like yeah, we are at a previous support range. This is the support range that was established in 2022, right? We could see that even in the middle of like June and July that was support, we rallied. We tested that same support range right around 260 270.

we validated it, validated it. and now this is you know, our pretty much fourth time trying to validate that support. So that's you know. the first step of like, okay, Are we out of support? Are we out of resistance? Are we still selling off? That's the question to ask yourself.

You know, if we're still selling off, that would still be the uh, the rejection phase meaning that we're still indicating signs of a sell-off. As of right now, we are experiencing and showing signs of consolidation meaning that we're not actively or proactively making any more progress on the way down. but we're definitely not making any progress on the way up. So therefore we're in that consolidation, which we call stage two.

Normally during this stage I Like to take a small position Now is that the safest way to play a trade? Definitely not right. I'm not under the PDT rule I don't have to worry about wasting trades I still need to be selected right just like any Trader that wants to stay true to their fundamentals. But I like taking advantage of oversold opportunities and that's what I see Qqqs. Just because I see that something doesn't mean that you need to.

This thing can still get rejected and sell off, right? But let's say tomorrow. All right? So tomorrow we have four Mo uh, four to five very important reports. The first one comes out about an hour and 15 minutes before the Market opens. It's the ADP uh employment change and we have an expectation of 148k.

The prior was 127k. So that's an expected change. An increase of what is that? uh, 21 000 right employees. Now the one that I'm most important uh or the one that I'm focused on the most Uh, you guys know it week after week.

It's the one that I keep you guys up to date with the most. And it's the one that's one hour before the Market opens at 8 30 a.m It's initial claims and continuing claims. Initial claims on the number of people that for the first time initially are filing for unemployment. So if they're filing for unemployment and most likely means that they were most recently just let off or let go from their job, right? Continuing claims of the people that have continued to file for unemployment, right? It's not their first time, but an ongoing unemployment change.

so we can see that we have an expectation of 225k with a prior of 225k. So we expect it to be the same as the prior week, right where 225 000 people are filing for unemployment for the first time. The overall prior for Init for continuing claims is uh, what is that 1710k and based off of what we saw from the last time, more people were filing for unemployment and continuing to file for unemployment. What that means are more people are being let go which normally supports an economic slowdown which therefore then supports lower interest rate hikes which is good for the Federal Reserve, but of course it's bad for the economy.

Rubber, The whole focus of the Federal Reserve right now with all these interest rate hikes was for the economy to feel the pressure. The economy is finally filling the pressure and this is why now we've seen the Federal Reserve really begin to kind of like slow down with how aggressive they are with future interest rate hikes 15 minutes after the Market opens. So if you're part of my learn plan profit group during our live trading session, we will be catching this. This is the market.

Services PMI Final and this is going to be reported 15 minutes after the Market opens and then we have two. um, kind of like gas and oil inventory report. This is one hour after the Market opens and then one hour and a half after the Market opens. I Normally don't care too much about that as I don't trade those specific um, you know commodities.

One of the things that I want to talk about is, you know where do I see the market going Now Again, this is just my opinion. It's nothing's guaranteed. but based off of this established support level, right? and for the past week we have not made any progress on the way down. If these reports do not come in that much worse than expected, that I can see that demand can begin to.

you know, tighten Here we can begin to break above that EMA And that's exactly what I'm looking for. So when asking the question right I explained to you guys I have a small position right now in Tqq right? So I would make money as this thing goes up. I Want you to understand that Why am I not fully invested? Well, we don't have confirmation right of higher highs. We are not at that third stage just yet.

So that's essentially what I'm looking for. I'm looking for. higher highs above 270 for QQQ If I see progression. if I see indication of an uptrend, A very simple question you could always ask yourself is, well, Ricky when do I know when to buy more? When you look at these larger time frames, you ask yourself a very simple question: Is it indicating signs of an active uptrend where you are literally missing out by not being a part of it right? Is it oversold enough that the upside outweighs the downside risk.

Do we have confirmation? Is it finally indicating signs of that uptrend? And if so, then I can ease into that position I Don't ever have to be fully invested. Remember, the focus for 2023 is not to be perfect, but to be effective, right? to learn from our bad habits that we made in 2022. And again, it's not rocket science. It's literally just keeping our trading simple and making sure that we're not afraid to take advantage of long-term place, right? So I've been buying applesock I've been trying to buy Amazon I've been buying Tesla but I'm not going to go crazy with it because I know that direction isn't in my favor yet.

but once we do get that and if we do get that anytime soon, then again, uh, if you're part of my learn plan profit team I'll keep you guys up to date, but I'll be adding more uh to my you know long-term positions as Direction Where Therefore, be in our favor and it's oversold enough for you know the deal is presenting itself. So I'm very excited to follow up. But again, this is just the concept. it's just my opinion.

Uh, this thing can go horrible tomorrow. Let's say that initial claims and continue claims just comes out much worse than expected. Market can dip and then um, you know? Well, that's why I have a light position to be able to tolerate not necessarily the best case scenario, but to be able to tolerate the worst. Kissinger And that's one thing that we also talk about all the time is Do Not put yourself in a position or Do Not open a position that you cannot tolerate at worst case scenario.

and the open position is a position that's open to risk. and the quicker that you understand that and respect that I Think the better off you'll be right. If you only bought one share in the stock dips, you're not going to care that much, right? It's only one share. Remember, or have enough money in a position that you take it seriously.

but not so much that even if it does completely sell off, that you feel emotional or irrational, you need to feel effective. And again, we'll cover that a little bit more within our live trading session tomorrow. So again, if you guys want to be able to watch me trade live tomorrow Again, tired of stop guessing and actually to start learning I Trade Live every day with my Learn Plan Profit Group right at Market open. They also get access to our complete lesson Library that's designed for complete beginners.

It's our A2Z video Lesson Library our private group chat and access to the tech buds HQ it's all included. It's a one-time payment lifetime access. It's the second link in the description and right now we are running a limited time 150 off if you're ready to kick off the new Year. Not only will you save big with that 150 off, but we're also giving away a free mystery box with every new member that joins Learn Plan Profit and that is provided for you at on the thank you page once you purchase.

If you want to learn more on how to redeem your Mystery Box before you purchase, click the the third link I Just uploaded a video about it on my Instagram reel. It's a video that shows you exactly what's included in the mystery box and on top of that, how to redeem it and get it for free once you sign up and join our team. So I appreciate your time again! Friendly reminder: tomorrow is the last day January 5th to enter to win two thousand dollars cash I Love running running these giveaways. A lot of you guys really do appreciate it and we gave away a PS5 last week.

The week before that we gave away uh, what was it an iPad The week before that we gave away a DJI drone and the week before that we gave away a headphone. So we've been giving something away every single week. This final day again because it ends tomorrow is going to be two thousand dollars cash, so someone just kick off the new year, it's gonna be two thousand dollars richer. So I Hope that it's one of you guys again.

If you guys haven't entered but want to learn more about it, click that fourth Link in the description down below. so appreciate your time. If you have any questions, send me a direct message via Discord and that's that first link down below. I Am using the Weeble trading application.

It's free for everyone in the US and and that is the fifth Link in the description. Remember everything that we talked about today is linked in the description down below. I Appreciate your time, hope and wish you guys an amazing um start to your 2023 And like always, let's make sure that we end the year on our green nap. Take it easy team.

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