All right. So this is the funny thing that I find about the stock market is that uh, Pal spoke today as many of you guys know, uh, but right now one of the titles is SMP which of course NASDAQ follows very closely to the S. P is little change as Traders Way New Pal comments that's what's currently being said right now. if anything, um, you know NASDAQ Market was originally in the green when he began to speak uh, we peaked at highs of 366 52 Market was actually indicating signs of an uptrend.

The the thing that I want to follow up with is that I think that based off of his comments and please correct me if you think that I'm wrong I don't think anything of what I heard during his conversation which I did miss the first 30 minutes. Uh, but we listened to another 45 minutes to an hour of his conversation. Uh, during today's uh, live stream if you guys were unaware. Jerome Powell spoke in a policy panel discussion Uh, this is for just it's like a European Central Bank and it has like all these uh, four leaders right when it comes down to central banks and he was one of the kind of just speakers that was answering questions uh from The Host he there was nothing that he said uh in my opinion that was bullish.

uh yet the market was reacting in a bullish way I mean they asked him even a simple question of like why not just continue to rate hikes um in the beginning, front, load them as you've said and not just Um, kind of like Ponder them off later throughout the year. Uh, he stated that yes, we are expected to potentially raise interest rates. Um, you know this year so it is not off the table and that's a specific comment that he made. Yet when he made that comment, the market was actually indicating signs of an uptrend.

But think about it, raising rates has never been a positive notion for the market, right? It makes it more expensive to borrow money by making it more expensive to borrow money then businesses have to increase their price of goods, therefore slowing down potentially. Overall Demand right? The thing with these titles is I Think that they're very situational. Where originally this title and all the titles that I was reading when the market was going up is that you know Jerome Powell And what he stated, um, you know Sparks Rally Now it's saying that there's that there's little change. It's not going to surprise me that in the next couple of days if the market begins to sell off, it's going to be based off of the comments that he made today and that he's going to make tomorrow.

So he also speaks uh, tomorrow at 2 30 a.m Eastern time? Uh, that's like midnight here in Arizona or at 2 30 A.m Eastern Standard Time Uh for those in the east Coast. So he's going to be speaking again and it's going to be interesting to see that by the time the Market opens, how the market digests what it is that he said. Other than that, when it comes down to economic reports, as you guys should all have an economic calendar if you guys don't, literally Google search it. It's free and available for all of you guys.

This pretty much just gives you a schedule of different economic reports that are being released on a weekly basis. Everything came out pretty much as usual. Nothing that was too unexpected. Um, and nothing too significant because if we look at how the market was actually reacting pre-market we're actually forming lower highs and lower lows.

all of a sudden. Right during that discussion, we're seeing a lot of consolidation as you guys can see here, from overall lows of 362 to overall highs of pretty much like 364.. Then we broke above that pattern. we rallied and it seemed impossible for the market to pull back.

But now we are finally pulling on back on the five minute time frame. This is the most significant part. This is what I'm paying attention to if we make new lows, right? And this is for day Traders not for long-term investors, but if we break below the moving average on the five minute time frame, then again, we could see some selling pressure. back to the previous support that we've had right around 358.

But as long as we continue to hold above this moving average, this is acting as a support for the Bulls And as we know for the past two months, it has been more favorable for the Bulls. So again, that's something that I'm taking into consideration, respecting the Bulls and not being too heavy shorting the market before overall confirmation. This is a mistake that I often make is that I I get ahead of myself. the the setup is showing signs of a potential sell-off but we have no confirmation.

There's nothing wrong with me taking a small position, but if I'm all in right now, all my eggs are in one basket, yet we have no confirmation. I'm just putting myself in a very risky position and again, that's just something that I wanted to share with you where again my job's not to avoid risk, my job is just to manage it. and this is why we wait for confirmation for direction to be more clear. I'm really excited to follow up with the day I Hope that we can see more of a clear sense of direction Either we bounce off of the moving average on the five minute time frame or we break below the moving average and see a clear sense of direction because we all know that there's always money to be made either on the bullish side or on the bearish side as long as what direction is clear.

So I'll see you tomorrow for my live trading session if you guys want to watch me trade live as soon as tomorrow. I Encourage you take two minutes, click the second link in the description down below and hopefully I can see you tomorrow at Market Open for our live trading session! Until then, like always, let's make sure that we're in the year on a green up. Take it easy team!.