So what caused the stock market to sell off after the market closed today? Well, one of the things that we've been talking about is quarterly earning reports. We know that Apple Amazon and Google reported earnings today I Live streamed it on my channel. I've been making numerous videos talking about the significance of how large their market cap is and how they can influence overall markets, especially for anything trading under NASDAQ and S P 500. So now this is everything you need to know on what caused the overall Market to pull back today from a 3.5 percent gain to a 1.43 percent drop after the market closed and you can see this overall movement that we saw.

We did see a quick little rally shortly after Amazon's guidance call, but then it corrected itself right back to that same support range right around 307.. we'll talk about the technical side later, but I wanted to provide for you a very quick summary of what caused each one of those stocks, right? So Apple is down 3.22 aftermarket hours, Amazon is down 5.1 percent with a 1.15 trillion dollar market cap. and then we have Google down 4.59 again with its uh, market cap at 1.39 trillion. For those that are unaware, those three companies Amazon Apple and Google make up or have a larger market cap than the bottom 200 companies of the S P 500.

That is how massive these three companies are. We've made numerous videos and everyone's like Ricky you're just trying to scare us so we can sell I Don't care what you do with your position, your success, or you know, the money that you make does not take away from me whatsoever. But I know that anytime, right? Just like we talked about it yesterday in my numerous videos that I've uploaded. right if you look at the one hour time frame, it's literally called the Slingshot approach.

the more something becomes overextended, the quicker it will retrace when things begin to go bad. And let me explain right, let's go ahead and jump into this: what is the headline of why Apple Accordingly, earnings are so bad, you can look into each individual quarterly earnings, but this is the one that I found to be most attractive. If you're trying to ask, well, you know what about these earnings are so bad for Apple We have not seen a quarterly Revenue decline this large since 2016.. So just so you understand the significance of why this quarterly earnings was so bad for Apple Now what's a headline that's you know.

somewhat useful for Amazon Amazon reports almost no profits and slow growth for their quarterly earnings. Pretty bad, right? Especially when you're reporting quarterly earnings. You're the largest e-commerce store in the world, and you're reporting almost no profits. Again, not a good quarterly earnings.

And then what's so bad about Google's quarterly earnings, right? Alphabet misses on both earnings and revenue as YouTube falls short. A little pun there because YouTube has YouTube shorts. Again, these were not good quarterly earnings. And one of the things that I wanted to remind you is if you look at this on the overall four hour time frame on the day chart, you can see how overbought and overextended QQQ is.

Which is the NASDAQ market right? I Haven't pulled it up for you guys here on the NASDAQ futures. NASDAQ Right now after market hours is down 1.6 after your Market hours. That means if the market were to be open right now again, if it were to be open right now, it would be down three times that for Tqq I mean so we're talking about nearly 4.5 percent or more in the red. nearly five percent in the red.

If the market were to open right now. for Tqq, that is how significant this is as of right now. The support that I'm going to be paying attention to tomorrow is that 12 600 for the NASDAQ futures. Market When it comes down to QQQ if you might be asking, Well Ricky how how bad can things get? Remember the overreaction that we had yesterday, right? The overreaction that we saw today.

No one wants to complain when markets Gap up 10, but then begin to cry when it pulls back four percent. What was our main focus today in every live stream that I that I had? Do not be afraid to lock and profits I Do not care if you're a bull I Do not care if you're a bear right right now during an uncertain time when things are this overextended, but also in things with this bullish right, you should never be afraid to lock them profits. You will never be perfect. You will never be a perfect Trader Your exits are not supposed to be perfect, they're just supposed to be effective.

You need to respect what's going on with the market. It's become so overextended that a correction is bound to happen. And the best thing that you can ever do during this situation is not be afraid to take advantage of opportunities, but respect what is going on. So how can you respect what's going on when things are this overbought but still so bullish? Well, you can take it day by day, right? You don't have to continue to swing trade if you view it to be this overbought and the risk for a downside pullback is very high, right? But nonetheless, again, this is for trading.

If you're If you're um, focus is investing, then that's completely different, right? I'm not selling any of my long-term plays, if anything, I'm just making sure that I have enough money left on the sidelines. So when the market does pull back because it will, right? So when the market does pull back, I'm going to be shorting the market. But on top of that, I'm going to be adding to the companies that I'm invested in long term at those lower prices because we all know one thing. the market will always recover cover.

It's simply the question you need to ask yourself is can you tolerate the time that it will take for the market to recover. The only people that freak out when the market pulls back are those that did not prepare, and again, those that have no experience to understand that the market will eventually recover. It's just can you tolerate the time. So again, two different approaches.

Investing is one thing, trading is another, but you need to understand one thing. One thing that's so so important is position size, risk management, and of course not being afraid to lock in profits when things are this overextended. So I'm very excited to follow up. I'm ready to short the market if you look at this on the one hour time frame, more of the 30 minute time frame.

We are testing the support at the EMA for QQQ and if you look at Apple same thing testing moving average. here. for Amazon testing, we are now below the EMA right and then for Google we are now below the EMA so we're most likely going to try to retrace down to the moving average if we break below that. I mean it's going to be an interesting Friday I Think that based off of what we saw aftermarket hours, if that same momentum continues, we'll see more selling pressure pre-market and we'll see if Rideout Market open during our live trading session with Lpp.

If it continues to go in that direction. and if so, I'm very excited to short the market with you guys! So again, friendly reminder: I Do Trade Live Every single day! Today was a very interesting live training session I Went from Red on the day to now Green on the day and again my learn plan Profit team got to see it all happen for my mistakes to my successes. They get to see everything happen in real time. so if you're tired of missing out and you're ready to join our team.

Friendly reminder: we are running our biggest sell to 150 off. It's the second link in the description down below. It's a one-time payment lifetime access You get access to the A2Z video Lesson Library designed for complete beginners, our daily live training session, our private group Jet and access to the techbook HQ Yes, it's a one-time payment and yes it is Lifetime access. This entire setup is designed for complete beginners I Also do want to remind you that tomorrow is the last day to enter the Apple watch giveaway.

February 3rd, it ends at midnight If you want to learn more about and about this giveaway and how you can enter to win. We don't run ads to this, it's just for the people that follow us and are subscribed to us either on Instagram and on YouTube. Click the fourth Link in the description down below. Watch how you can enter but it's super simple.

For every one dollar that you spend on the site, it equals five entries. So if you want to pick up a cool trading mouse pad, they run thirty dollars 30 times. Five entries right? For every dollar you spend. that's 150 automatic entries to win this brand new Apple watch Ultra and again the more obviously that you shop, the more points that you earn.

the better chance you have to win that Apple Watch Ultra and this all ends tomorrow on February 3rd at midnight. So if you have any questions about this, you guys know where to reach out to me via Instagram or via Discord and that's the first or third link down below. I Will see all of you learn Plan Profit Traders at Market Open for our live trading session So make sure you watch the first three videos in the course to know exactly how you can actually watch me trade live. And for those that are asking I am using the Weeble trading application, it's free for everyone in the US and that's that fifth.

Link in the description down below I Appreciate your time like always. Let's make sure that we're in the year honor green now. Take it easy Team.