So what is causing the stock market to sell off today? What's going on? Team: It's Ricky Here with Techbook Solutions Sqq is up. What? the NASDAQ Market is down. Friendly reminder: This is not a stock or an ETF that you want to invest in, Uh, this is not viewed or should be considered as an investment vehicle. It's simply a stock or an ETF to potentially trade.

It's very risky ETF it's triple leverage, right? So it's up six point three, Three percent. So congratulations to all of our Lpp traders that are either shorting the market and or in Sqq. One of two things is I'm getting asked very often right now. Uh, because of how overbought this is, but because of how bullish it is, It's like, hey, should I play it safe and lock in profits or should I wait for there to be a break of pattern.

It's all dependent on how aggressive or how conservative you want to be. There's never a it's never a bad idea to lock in profits, but if you want to allow your winners to run and maybe you want to be a little bit more aggressive, or maybe if you already reduced your position size and you want to see if you think that there's a little bit more upset potential then the idea of a breakup pattern would normally be for the break below the moving average. You could trade it if it breaks below the EMA, but that follows a little bit tighter, so you might find yourself a little bit more often locking in profits or closing that position sooner than expected. The moving average gives it a little bit more distance to actually be able to pull on back and then continue to Rally.

But at the end of the day, again, any profit is good day or good profit, especially during a red day. So why exactly is the NASDAQ Market selling off again? It's the uncertainty. You can look at every headline article what every article is talking about is this is the part that I find to be very funny. The same reason that the market pushed up is because you know Market Expectation was that the Federal Reserve is going to be less aggressive in the month of December in raising interest rates, but now because we're getting a little bit closer to that day.

For those that are unaware, uh, that actual interest rate hike is going to be on the 14th, which is one day after the inflation report. So on the 14th, they should be announcing their first interest rate hike, right? It's expected based off of what Jerome Powell said that it could be as soon as December. Which means you know December 14th that they can potentially only raise interest rates 0.5 instead of you know, the 0.75 That would cause the market to most likely react in a positive way. But right now, because of the report that was released on Friday and again, these are all economic reports and the economic reports that were released yesterday.

the IHS menu. Uh, what's it called the Ism Non-manufacturing Index as well as the Trade Balance report that was released today I Guess is is bringing a little bit more of concern, right? If you look at QQQ and or the NASDAQ Market, we're still trading within a specific range where we have 10 to find a support, right? But if you remember, remember in one day, right? we gapped up. Why did we Gap up? It's because Jerome Powell spoke and in that speech, right, he talked about that. It could be as soon as December where they can begin to be less aggressive with these interest rate hikes, but that is exactly what is causing the market to sell off.

Now it's the uncertainty because of these bad economic reports leading up to December 14th, which is when they're going to be raising interest rates. They're unsure if they're convinced that it's gonna actually be only 0.5 and or 0.75 if it's 0.75 For those that are wondering, yes, the market will most likely sell off. If it's point five percent, the market will most likely react in a positive way and continue to Gap up right? maybe exceeding and pushing us through. Uh, this current resistance level that we have.

But this isn't much of a surprise if you've been watching my videos here on YouTube for the past couple of days especially, it's very easy to see that you know we have had a very common resistance range right around that 294 295 level. So if we go on that one hour time frame, we can see this even a little bit more clear where Again, we've been rejected here before. So just like I talked about on Sunday and on Monday if we begin to make higher highs great. But we can't be surprised that we are actually trading below this because this has been a very common resistance level for the past couple of months after it became and it was established as a support level.

Even if you look a little bit for the they're back. This was a comment resistance range before and then we began to make higher highs higher lows. When we break above a resistance level and then pull back below, old resistance levels become new support levels and then vice versa. we break below it.

Old support levels become new resistance levels and again, now we're consolidating around that. So on the four hour time frame, we're still above the moving average. Yes, we've pulled on back, but now we're trading at the very bottom of this range right around 280 with the resistance right around 295.. So now we're a little bit more on the oversold side, our size looking good.

Macd's looking good, but there is no confirmation so there's something that people always like to ask us because again is now a good time to buy the dip. We all know that the market will eventually recover, but the market can get cheaper, right? The cheap can always get cheaper. So do not put yourself in a heavy position in which you cannot tolerate the time that it will take for the market to recover. If you want to take advantage of opportunities such as Tesla at these at this price point, maybe Amazon at this price point, Whatever stock you intend to invest in for a long period of time.

Sure, right. you can do anything. Anything that's risky, you can do it in a calculated way instead of buying with 100 of your account. Then maybe don't take that approach anymore, right? What if it continues to sell off? Maybe you just want to buy nothing, right? Maybe you want to buy five percent or ten percent of what you can, just in case things do get worse.

You can tolerate that pullback. Because think about it. Put things into perspective. If you would buy one share of Tesla and it sells off a little bit, even if it sells off 10, you're not going to freak out, right? But if you buy a hundred percent of your account balance and then it sells off 10, you might be a little bit more uncertain.

Position size is everything and this is something that we always talk about. So again, if you guys have any questions, you guys can feel free to reach out to me. Um, and again, that's that first link in the description via Discord if you have any questions on here on Instagram Shoot me a direct message and that's that they're linked down below. I Do apologize for the later upload today.

Uh, my daughter is sick and I have Rachel out of town today because of work. so I'm uh, doing this all on my own and of course we have a nanny so she's been of great help I'm about to take her to the doctors my first, uh, obviously daughter. so I'm learning as I go and uh yeah I just wanted to explain on why I was a little bit delayed today so I appreciate your time, hope that we're under thumbs up. Please consider subscribing.

We upload new videos every single day about the stock market and if you want to stay up to date then just make sure you turn on those post notifications and we will alert you what it is that we go live. I Normally trade live every single day right at Market open and that's that second link down below if you want to be able to watch me trade live as soon as uh Market opens tomorrow. I Really do appreciate your time again. We are running a giveaway for Techbuds apparel and if you want to learn more about that, this is going to be the fourth Link in the description down below.

Like always, let's make sure that we end the year on our green note. Take it easy to.