So we just wrapped up our live trading session with the Lpp team and one of the things that we were breaking down right now is how overbought the NASDAQ Market is. yet it continues to rise. For those that are unaware, we just broke above our previous resistance range of right around 315. currently trading at 316 for the NASDAQ ETF QQQ and still making new highs.

When looking at the RSI indicator again, there's no indicator that is 100 perfect. But when looking at the RSI indicator based off of previous resistance levels right where we peaked and then aggressively pulled on back, we peaked and aggressively pulled on back. We peaked and then we aggressively pulled on back. When looking at the actual RSI, you can see that the RSI on average was still below.

you know, 75.. as of right now, our RSI is now at 80 and it's screaming how overbought it is. There has not been one time that the RSI has ever hit highs of 80 without it actually pulling on back. I Mean, looking at this previous example, we hit highs of 86 and then it aggressively corrected itself.

It gapped right back up and then again aggressively corrected itself. So right now Market is bullish. Market is trading above the moving average and Market is shooting above the EMA. Right now, it is to be expected that based off of all of these headlines that the banking situation has stabilized and investors are betting on the market right on more Banks to not continue to fill, right? they expect the Federal Reserve to Pivot.

They expect inflation to continue to go down and they are betting that the Federal Reserve will begin to cut interest rates soon. So as of right now, that is why the market is going up. When asking the question, why, why are we still seeing signs of higher highs and higher lows all I wanted to point out to you guys is what we talked about within our Lpp live session today. one hour session, one hour time frame.

It's very easy to see these overbought levels where it's become so overbought that is in need of a pullback. I and again I'm openly making this video. You do not need to agree with me. I am getting ready to open a small short position and I think that we can retrace back down to this moving average too.

I Think that the market is going to crash Now that's not what I'm looking for. But every single time that we become this overbought, the market pulls back. the market pulls back I am wanting to open a small position about 1 000 shares on SQ that's about thirty thousand dollars. Which is less than ten percent of what I intend to trade with.

That means that if we do begin to sell off and I get confirmation if and only if I get confirmation, I will step on the gas and I will short the market with three hundred thousand dollars making money as the market sells off. But just like anything there is risk behind every trade. I Still have yet to take my short position, but I would love to open those additional 1 000 shares and then add more to it when confirmation is in my favor. If it continues to make new highs, then I will cut losses there and accept my loss.

I took a loss yesterday I shared it with you guys all on my social media on Instagram and I shared it with my Lpp team I lost about 800 in comparison to what I normally trade with and in comparison to what I normally make, 800 is relatively a very small loss for what I choose to trade with. Um, could I have avoided yesterday's loss 100 I could have not taken in early short position as Market was still bullish. Now we're even more overbought. but it's a reminder based off of what happened yesterday.

just another reminder on why I don't need to enter a super early short position. And for all those that are watching this that always think that oh, Ricky all you want to ever do is short. Well, no right? If I see there to be a clear opportunity for the market to pull on back, then why wouldn't I want to capitalize on the marketplace going on back? But of course I have to respect the market Direction and as of right now Market direction is bullish. It is still too early to short, but I wanted to share with you my plan in advance: I View the market to be very overbought based off of RSI right based off of previous patterns and it's beginning to slow down right? I am waiting for that confirmation and when we do and once it does present itself, then I'll open that short position.

I'll send it out to my Lpp team. It will be anywhere from 1 000 to 2500 shares for my initial position size and then I will size up if and only if if and only if Direction actually ends up being in my favor and I get that confirmation. but as of right now, we're kind of just consolidating within that same range. Uh, not much going on right now.

I Would like to see even on the one minute time frame QQQ I Would like to see the overall patterns to trade below the moving average on QQQ and that would give me a little bit more reassurance that we have peaked and that market is going to resume to pull on back and I can have a little bit more confidence to short the market but just wanted to share that with you guys. Um, again. I I Don't expect to be right 100 of the time I was wrong yesterday I could be wrong again. Um, but as of right now I see there to be a clear opportunity.

On the downside: I View the market to be very overbought and I'm very excited to follow up. So again, my job is not to avoid risk. My job is to manage it. And I think in my opinion, one of the best ways to manage risk is to manage your position size and that's why I Talk about it so much so I Really do appreciate you guys time.

Friendly reminder Again, if you want the ability to be able to watch me trade live as soon as tomorrow, then make sure you guys click that second link in the description down below. Uh, only my Lpp team gets to watch me trade live every day and as of right now, we are running our biggest sell and you get 5 000 automatic entries just for signing up for our GTR giveaway or 50 000 cash if you want to learn more about that. Again, that's that second link in the description down below. And if you want to be able to enter by picking up items on Shoptechputs.com that's that fourth Link in the description down below.

If you have any questions, feel free to message me via Discord And that's that first link in the description down below. Like always, let's picture that we're in the year under Green Lab Ticket.