So here's what to look for this week. What's going on Team? It's Ricky with tackle. Solutions Overall Nasdaq Futures are down about 39% which means that if the market were to be open right now, Tqqq would be down nearly 1.2% So we're seeing this slight pull back from previous highs of nearly 177,000 to now pulling on back to around 69. This is still not at previous lows that we experienced on the 11th of January Uh, which were lows of 16,700 so we still are kind of in that middle range.

We've had a previous support range here before, so again I would say that by market open tomorrow, we should have a better understanding if we're going to actually hold here and begin to recover which is going to be in favor for the Bulls or if we break this support and then begin to see some of this selling pressure. We have a nice little gap down that should be in favor of the bears, but again, it shouldn't matter right? Going long or going short as long direction is clear, there's always money to be made. So let's go ahead and talk about what's to come this upcoming week. So tomorrow when it comes down to Uh economic reports, we have the New York Empire State Manufacturing.

Not a super important report, but on Wednesday January 17th. Uh, we do have a handful of Uh reports the MBA Mortgage Application Index. but most importantly, we have retail sales that is going to be released. Export prices.

We have import prices, industrial production, uh capacity utilization. Uh, really the big ones that are going to be for this upcoming week are going to be on Wednesday that are retail sales. You'll see a lot of different news articles about that and then the FED beige book. So something to uh, take into consideration.

We also have existing home sales that's going to be released on Friday and the consumer sentiment report that's going to be released on uh Friday as well. The thing that I want to make you aware is there's nothing really super important on Thursday it's initial claims, continuing claims. we do have housing starts and building permits I Guess if you're um, you know you know if whatever it is that you're trading gets influenced by that, then sure. But initial claims and continuing claims again are economic reports that get released on a weekly basis, so nothing too significant there.

One thing that I found pretty interesting is, uh, an article from Investors.com They talked about Tesla and Tesla said it's had an ugly week, extending a recent selloff and breaking key support levels which is very true and we're going to break it down in just a few seconds. But on Monday Elon Musk suggested that he wouldn't develop, would not develop Ai and Robotics at Tesla if he doesn't get a lot more shares sounds like a threat, you let me know what you think. Uh, but other than that, let's go ahead and check it out. Looking at Tesla from previous highs of its resistance at 265, we shouldn't be surprised because again, that was a previous resistance range.

We got rejected there and it looks like that. Although the NASDAQ Market has been recovering, Tesla is doing the exact opposite with a consistent lower low and lower high. A lot of selling pressure. Its previous key support range is going to be right around 200.

But don't forget, this is where perspective is very important. Different time frames give you different perspectives. When you take a further step back, you can see that 200 is still much higher than what we hit lows of uh, late 2022 or early 2023. So if we do begin to see a sell off at 200 and we break below 200 for Tesla, then please understand that things can get much worse before they get better because from 200 there is a 50% drop down to its $100 previous price point which I'm not saying Tusla is going to get there, but again, you never know With Elon you never know with what he might say, um and how it can affect the overall Market uh for him, right? Uh, The other thing that I want to talk about is where the NASDAQ Market is currently at.

Uh, looking at the NASDAQ Market. We are so close to all-time highs once again and that's right around 412 almost 4113 for QQQ Right? Looking at previous highs for the NASDAQ Market, it's a very simple question that I'm asking myself. well, based off of how Nasdaq futures are trading right now NASDAQ Market is pulling on back, so that doesn't really surprise me that. Okay, we might see a little retracement tomorrow.

Maybe to the EMA line to lows of 405, right? We are at previous levels and I'm just making you aware. Remember, we talked about it early this year and even late last last year. This Market comes in cycles and this is what beginners need to understand. There's bullish Cycles kind of like 2023 and then there's bearish Cycles 2022.

right? by understanding those cycles and the true direction of the market, it's easier. It's still not easy, but it's easier to make money. So as of right now, it's very early on. within 20124, it's a big year because it's the President election year and again, the the idea that things might be inflated to set things up properly so they look a specific way for that presidential election, and also for these rate cuts that are set to happen within the first or second quarter of 2024.

Traditionally and historically and feel free to do your own due diligence, markets tend to pull back shortly after the Federal Reserve begins to cut interest rates, which is very discouraging because if you think about it, cutting interest rates means that it's less expensive for people like and I to borrow money. So therefore, the economy should be doing better. But it's a very weird thing to see that based off of History shortly after markets begin to sell off, it wouldn't really surprise me if markets do begin to sell off just because of the amazing 2023 performance that we saw. But I Just want to make you aware of where we are at right now how we can begin to pull on back.

But it's not really until we break below the moving average that we should therefore then be more concerned about. Okay, we are entering be territory and actually showing signs of lower lows and lower Highs but we are far from that. I Just like to make you aware of both sides. As of right now, we're above EMA We're above moving average, which is bullish.

We are testing previous highs, which you should just be aware of. Caution is is important at these levels. So if we do begin to break below, you're not going to be surprised. You're going to be prepared right that if the market does pull on back and as long as we're still above moving average, then maybe I can entertain the idea of buying some around there.

But if we break break below the moving average a different store markets are beginning to shift, maybe entering a little bearish cycle and then we can begin to see some retracement where instead of going long, we could resort to going short if that's where the true market direction is going. But again, I'm going to make sure that I do my part and keeping you up to date with everything that I am reading about the market. I Also do trade live every morning I'm going to be trading live right at Market Open tomorrow I Would love to see you there. You don't have to tune on in, but if you've ever wanted to see someone buy and sell, you see my good trades.

You see my bad trades live in real time. I'm going to be doing it tomorrow right at Market Open and it's the second link in the description down below. If you want to tune on in, it is a onetime payment, lifetime access and you get to watch me trade live every single day. I Really do appreciate you guys this time.

If you have any questions, either comment down below or shoot me a direct message via Discord or via Instagram which is linked in the description down below. I Appreciate your time. Don't forget to subscribe and like always, let's make sure that we end the year on our Green Out Take Care team.