Since last week, we've been preparing for this very moment. What's going on guys? It's Ricky And let me show this very quickly. So this is for Nasdaq QQQ which is a one for one NASDAQ ETF You can see that we are officially actually showing signs of lower lows below the EMA line for the first time since this NASDAQ rally started in 2023, we have not had a significant pullback where we broke below this ever since we actually began to form higher highs and higher lows. I'm sure we can all agree that this pullback was long overdue.

We talked about it last Friday and even this Monday where again, it wouldn't really surprise us if NASDAQ breaks below 365 and that's what it needed to do. But obviously no one can predict the future. so we were waiting for that confirmation today. We got that right.

Looking at the five minute time frame, this thing was continuous. I mean the five minute time frame is one thing that I tried to preach to my Lvp team all the time. It's my favorite time frame to look at any time that I'm being too impulsive with my trades on the one minute time frame fever to check it out. But on the one minute I mean there were times that, like, you know, NASDAQ did break above the moving average.

There were times that NASDAQ did break above the moving average and the EMA right? So we had two here. two here. But if you look at the five minute, it's very simple, right? There's not as many of those fake outs like yeah, we broke above, but we didn't hold above that moving average. That was still a valid resistance.

We actually captured that within this morning's live trading session. and then we got rejected heart, right? We went back for a retest and there were many retests of these, right? And this was shortly after the FMC Minutes report. And guess what, we got rejected right at the moving average. And then we dropped down hard for making new lows and this was aftermarket hours at 362.06.

Sqq killed it today, forming higher highs and higher lows and again based off of recent patterns. When looking at this on the 30 minute time frame, it's a beautiful up up, uh, Trend staircase pattern looking at previous patterns, right? The old only concern that I have is based off of what was reported today from the Federal Reserve right? This was the FED minutes. Let me go ahead and bring this to you. So why did the market sell off so aggressively shortly after? So the FED minutes were released right? I Live streamed The FED manager just like I told you I would.

If the video got over a thousand likes, you guys killed it then I appreciate that in the FED minutes, it pretty much summarizes how they came to the conclusion of the previous interest rate hike, which is a quarter of a basis point, But then it also talks about who voted for what and what their sentiment is, right? Just like we talked about these, this is not an actual announcement of the next rate hike, that's just how these voters are feeling that are part of the Federal Reserve It says Fed officials see upside risk to inflation and possibly leading to more rate hikes. and that was not something that was factored in right? Everyone originally thought two to three months ago that the Federal Reserve could possibly begin to cut interest rates and guess what Jerome Powell said in the last speech? Heck no. There is no expected rate cut to be expected in 2020, Three or maybe 2024. but definitely not this year, right? They want to be hawkish, they want to front load, and I think it's just because they teased everyone with that rate pause.

And after that rate pause, all the Bulls thought because of market performance. That rightfully so Okay, Well now we're just going to begin to recover. Inflation is actually coming down. You know why continue to raise interest rates? There are even some Market analysts that are saying that if the Federal Reserve continues to raise interest rates at this point, inflation is going to be at less than two percent.

Again, that's what some people are saying. I'm just here to reiterate the information: I don't know, right? I'm not here to try to predict the future I'm just taking it day by day like you guys. But the only reason that I think that we might Not pull back just like we haven't for the past couple of days. The only reason that I'm uncertain of why to go into Tqq right now is because of what was reported today and how that news can bleed into tomorrow.

And maybe Friday because the market is on track to have a pretty unfortunate week, right? and I usually call this headline momentum where it's either having a really strong week or a really weak week and then the last two days. It's pretty much based off of Market sentiment. We don't have any crazy reports. we do have initial claims and Continuum claims report being released one hour before the Market opens tomorrow, but nothing too significant.

But we'll see, right? Will The Market actually get rejected at this same ascending resistance. It's literally a beautiful textbook setup. It's as close to perfect as it will get in in the real world, right? It's not like those lines that you see on all those charts or when you're learning how to trade, but this is very similar, right? It's an ascending uptrend pattern with an ascending support and ascending resistance. It's great, but does this mean that we can't break above? Well, no, of course not.

I mean patterns tend to repeat themselves. They don't always have to. It's if news is significant enough, then yeah, this thing can blow right through that resistance and that's the question. Task is Market Sentiment and isn't you strong enough to blow right through that resistance for us? qpq and Below right below this support for us Kiki Cube Because when looking at this on the day chart, if we continue this, we have a lot of margin to give back and I find this to be funny, right? I Try to be very level-headed about both sides I Always try to prepare for worst case scenario.

but now all the people that were you know complaining last week about oh this Market pullback is just going to be a few days, right? I Mean now there's actual There's an actual fundamental reason on why the market could continue to sell off. And that's simply because the Federal Reserve now has a different, more hawkish approach with future rate hikes and that was not already factored in. And that's what we saw being factored into the market today. So could the market continue to sell off 100? Can it possibly find a support and begin to recover? Well, of course, right? But this is why again, it's so important to stay patient.

Stay cash if you're uncertain as I'm concerned I don't know which way the Market's going to go I have my alert set and I'm taking it day by day. I'm very excited to follow up, but just wanted to give you an understanding on why the market so left so aggressively today. And of course that's due to the FED minutes. So I hope to see you for tomorrow's live trading session.

That's going to be the second link in the description down below. Friendly reminder: I Work with one two men, one team only and that is the Lpp team. so if you want to be a part of that again, second link in the description down below and it's our biggest discount. one-time payment, lifetime access, and like always, let's make sure that we're in the year on our green note.

Take it easy team.