I'm really happy that i uploaded my earlier video today uh just encouraging people people and reminding our viewers why the past five months have taught us to be super selective i'm not going to pretend like i knew exactly that the market was going to drop that would be an absolute lie. I'm never 100 correct. I'm never here to pretend like i am. I like to stay or keep a very level headed approach with the idea that i'm very grateful that i made that video.

I'm very grateful that i reduced my position size because it was the safe play to make if you guys didn't watch. My earlier video today one of the things that i talked about is i'll start sharing my screen. So you can see exactly what it is that i'm looking at uh. But tqqq.

Which is the nasdaq etf. I'll actually just go to qqq uh. It's a little bit easier to see on this but qqq. Which is the nasdaq etf.

This is a day charge. So every candle represents one uh day of time since the beginning of 2022. The only time that it's broken above was back in march and then russia attacked ukraine. Then we saw a pullback every every other time we would get you see this blue line would get rejected rejected rejected it would try to go up rejected.

We broke above attack. Rejected rejected rejected rejected rejected rejected rejected and then today again. We were beginning to trade above on qqq. A lot of people got very excited.

One thing that i first talked about is you know we have earnings this week. We have earnings next week and then we have earnings the week after you need to understand that not really this week. I mean tesla reports earnings on wednesday. But the really big tech stocks report earnings next week and the week after and it was what was shared today that actually caused the market to drop.

And this is just a glimpse of the influence that some of these big tech stocks have to the overall market. I pointed out on the technical side that hey we're beginning to trade above the moving average for the past seven months. It's not for the past week. It's not for the past month it's for the past seven months all of 2022.

We've been getting rejected by that resistance level right it's like the boy who cried wolf. If i continue to see something happen and happen and happen am i gonna all of a sudden. Think that now things are going to change no. I mean interest rates are still rising according to the cpi data report that was just released market sentiment is still bearish and then we have this up and coming fomc meeting where they're going to announce the interest rate hike to combat that 91.

Inflation rate. We currently have things are not getting better nor are things getting not worse you get what i mean with that being said what caused the market to drop today well. If you look at this article. That was actually released today.

It was a simple remark that apple shared today nothing crazy. But if you look i mean apple was in the green. The overall market was in the green and it was in the green a pretty decent amount. We gapped up pre market session and then the bleeding began to happen apple announced and i'll talk about this in a little bit apple announced that for this upcoming year for 2023.

They plan to slow down hiring and curb spending next year to prepare for a potential or possible recession by apple. Just saying that we're gonna slow down hiring. They're just going to slow down at the rate that they're hiring and they're going to prepare or cut back spending in preparation for a potential recession. This just again this is the influence that we talk about that an individual stock with a very very large market cap 238.

Trillion. One of the most valuable companies. This isn't its earnings report. This is not it this is just a remark they shared and this is what happened we went from up five percent in the green on tkq to down from not mistaking about two percent on on uh tqq.

A difference of seven percent. That's significant apple went from you know being up on the day to now being down two percent in the red that was just with a remark. So let today be an example i choose to play it safe you don't need to right. I do believe that there are so many different ways on how to make money in the stock market.

I i respect that but please put yourself in a position that you can tolerate my earlier video. Today was not to be like hey you know market's about to drop. It has to drop. I want it to drop heck no i'm tired of this bear market.

But why be hopeful. Why think that things all of a sudden are going to change we see things getting worse. We see companies preparing for a potential worse recession. So why would you think all of a sudden things are going to change let today be an example of why you need to prepare for the future and not hope for a better one.

This is all we talked about within our learn plan profit live trading session. Today. This is all we talked about in our earlier video. Today.

And when asking the question you know what's the value of being able to stay up to date with my updates well this right knowing that someone has your back. And that they're simply looking out for you in the sense that we're at a resistance level. We're approaching earnings season. And it's safer to be more selective it's not that you need to sell all of your positions.

It's just that taking your position size into consideration because things can get worse before they get better that's all and again i'm very grateful that i uploaded today's earlier video and i hope that you guys are too um other than that i just wanted you guys to have a better understanding on why the market sold out today. And it was just because of that simple remark of the slowdown in hiring and also cut back on spending for this up and coming potential recession next year sent out by apple. So uh tomorrow. We do have i believe it's netflix that reports earnings and then on wednesday.

We have tesla that reports earnings. I will be live streaming those for free on my youtube channel. So please make sure that you subscribe please make sure that you drop a thumbs. Up.

And you need to turn on your post notifications. So youtube alerts you when it is that i go live friendly reminder. I trade live exclusively every morning with our learn plan profit group so if this is something that you've been wanting to dive into and you like the way that i break things down. Then i encourage you take two minutes click the second link down below.

And learn a little bit more about our learn plan profit group and see if it's a good fit for you if so i'll see you tomorrow at market open for our live trading session. If you have any questions before you even decide to sign up the first link feel free to message me for free. Via discord or message. Me via instagram and that's that third link down below one of the last things that i quickly want to talk about is we had a lot of questions about our tech buds staycation.

So the fourth link down below. Is our tech. Bud staycation. It's a giveaway that we're actually hosting this month.

Uh and it ends august 7th. We're going to be selecting three winners. But what's included right i'm going to be flying out three lucky winners all expenses paid and you're going to be staying at one of our airbnbs right next to the hq once you get set up at the hq. We're going to give you a tour welcoming you with our team and then making sure that at the end of the night for when you guys fly in on tuesday.

Which is august 23rd that uh. We're going to be having taco tuesday day two breakfast at the hq with the team and in person trading session with the three winners myself and the team featured in a youtube video. I feel like that would be pretty fun and then dinner and topgolf with the team that's going to be day. 2.

Which is the 24th of august and then the 25th. It's the final breakfast with the team live trading session at the hq supercar ride along with me and the team and then a pizza party. Which is going to be our farewell before you head on back to the airport again. It's super simple to enter you don't have to do anything special again for every one dollar.

You spend on the shop techput site. It equals. Five automatic entries. So an example would be we just did a full restock on our mouse pads let's say that you buy one of these mouse pads right that will earn you 150 entries automatically when you purchase if you purchase an aluminum art 900 automatic entries.

It's that simple so. Again if you want to enter head on over to shoptechbudscom or click the fourth link in the description. And again feel free to enter our staycation giveaway. Which ends august 7th.

I really do appreciate you guys time. I hope that you guys um. You know learned something new or. Appreciate the breakdown.

And the update that we had for you um and again. It's set to be a choppy week. And i'm very excited to follow up so make sure that you guys subscribe to stay up to date with my overall stock market updates. Like always let's make sure that we end the year on the green now take it easy team.