So what is my current opinion about the stock market right now? What's going on? Team: It's Ricky here with talk about Solutions I'm not here. sure you could anything I Wanted to show you guys exactly what it is that I'm looking at as of right now and you guys can let me know down in the comment section: I Feel like this article from Yahoo Finance uh did a great job articulating what exactly is going on with the stock market right now. It covers the concern of obviously the uh, the Federal Reserve possibly needing to take a more aggressive interest rate hike. It talks about the recent pullback right? So it says a second half stock market rally is still in play despite the rut and what we mean by that is a lot of people freak out when the market pulls on back.

But one of the things that again we've been talking about is although I've been expecting and I've been wanting to the market uh, the market to pull on back a little bit. Um, it's not that I want the market to crash, it's just understanding. Uh, simply what's been reported right? You guys know that I follow these economic reports very very closely. Everything from the unemployment reports to the CPI data and the PPI data reports right.

The market pulling on back is not the end of the world. The only people that freak out when a market pulls back are those that simply did not prepare. If you did a fair job being able to, you know, stay light when the market pulled on back. I Mean think about it Market pulling on back simply means that you get another chance to get in uh or to buy any long-term plays for a much cheaper price, right? You don't need to short the market and people think that because I love I enjoy shorting the market that I always wanted to crash and that's not necessarily the case.

I mean I Want to talk about one thing that I covered with our Learn Plan Profit group and it's literally what this um I mean and you can go back to my video. Um, you know two or three days ago I talked about this specific level and it talks about where we are at right now. At a critical point, we are still necessarily trading above the 200 moving average. meaning that really all the 2022 we struggled to break above this moving average.

We pulled on back, we tried to break above it. Once again, we got rejected. This is a NASDAQ ETF QQQ if you were unaware, right? Market kept pulling on back, kept getting rejected the start of 2023 and January 6th we started this nice little rally. We broke above the moving average and if you check with where we're at right now, we're still holding above the moving average.

So despite that, the market did pull on back. And just like this article explained it, despite the rut that we've experienced for like the past week, it doesn't really matter, right? A pullback is again just another opportunity to be able to buy in at a cheaper price if you are well prepared and well positioned. And this is why we talk about out position sides at overbought levels, right? It's only the people that did not prepare that freak out. So where what I wanted you to understand is that we are still in play.

for the market to potentially form higher lows, we find a support here. We go back to retest around 311 310 and to see if we can actually begin to make new highs. We are still doing something that we have not been able to do all of 2022 and that is trading above the moving average and that's progress. That's a step in the right direction.

Although we had one week of the market pulling on back yeah, it was great for short sellers, right? We made a decent amount of money. but now that the market has pulled on back to the moving average, we call this a critical point where we could find a support here and the market could begin to recover. And that's what I would like you guys to pay attention to. I mean the Federal Reserve still has to raise interest rates? Um, or has their next interest rate hike I think mid-march so we still have minimum three weeks until any interest rate hike is reported.

We do have CPI data report coming up this week, but that's still at least two weeks away, right? So we have two weeks of of what, right? Well, we still are going to have these economic reports being released and that's really what I would begin to pay attention to. We pass earnings season already. Uh, you know the up and coming interest rate hike is is weeks away. So what I would really begin to pay attention to is to see if enough demand can begin to build right above this moving average causing the NASDAQ market to continue to recover.

If we break below the moving average then you can begin to really understand. Okay, hey, you know we are seeing a little bit more selling pressure than it was expected. but most likely if we break below this moving average right, the support at the moving average will most likely retrace back to down to 280.. So what that means is if we break below this moving average, you don't need a freak out, just means that you do something about your position size because again, it just gives you another chance to buy and at a lower price point you don't have to short the NASDAQ Market With my learn plan profit team you can just choose to stay cash.

You don't always have to be in an open position, but the more it sells off, the more I Want to remind you the better price you can get it for but at the end of the day, scared money? Don't make money right? It's not about especially if you're a long-term investor. It's not about timing the market, it's just about spending time in the market because we all know, right? even if the market does pull on back once again. and I'm telling you this as someone that loves to short the market I Understand shorting is fun and I like making money when most of the market is losing money. But I Understand Big picture.

A lot of people are going to end up regretting not buying right now. And it's not about getting in at the perfect price point because yes, the market can get worse before it can get better. But at the end of the day, markets are still super cheap, right? Amazon is still super cheap. It's still trading under 100 a share.

Apple is still cheap. Tesla is still cheap. And yes, the cheap can always get cheaper. But again, your intention is.

it's all about your intention. And if you're someone that has intentions to make money, you know, three to five years from now, then it starts today, right? The best time to invest was yesterday and it's not just because you could have gotten in at a lower price point. or maybe you can get it at a lower price point later down the road. Manage that position size and stay well balanced right with your position size and making sure that you're not too heavily invested that if the markets do pull on back, you end up freaking out.

But don't be afraid to have money in the markets at these cheap price points, right? At least that's the way that I look at them and you guys can feel free to share your thoughts in the comments section I Love having my long-term plays I Love being able to buy into these dips. But most importantly again, I Love to remind our beginner traders that one week of the market pulling on back is not the end of the world and I just wanted to remind you kind of where we're at right now with still holding above the moving average which is still progress in comparison to 2022. And just like we talked about all of last week, right? A lot of people are asking rookie, where do you see the market pulling back to Old resistance levels right? Just like we called it out our testing to become new support levels, right? A resistance of what it was right around 290 is now acting as a new potential support. so we will see this week If we hold here above 290, we'll most likely try to make our way back up to 310 if we break the support.

Zone Then again, we'll most likely head down to that 280 price point. So again, this is something that I'm going to be covering within my live trading sessions with our LBP team. I Do work with one team and one team only you do not have to join. You can learn everything that I know on your own.

It's just how long will it take and how much money will you lose along the way, right? But if you're someone that wants to condense the time that it will take for you to learn, then I do offer one lesson library and it's so you can watch me trade live every single day. So I don't just post my profits I Don't just post. You know if I take a loss, you don't really learn anything from my gains or my losses if it's just a screenshot, right? The big thing that we focus on is being able to trade live every day, so you can actually capture what it's like to see someone enter and exit and share their thought process on why they're entering, why they're exiting, or why I'm cutting losses behind a trade. So it's a one-time payment lifetime access.

It's Learn Plan Profit 2.0 and it's the second link in the description down below. If you sign up today, you can watch me trade live as soon as tomorrow at Market open. So it includes an A to Z video Lesson Library designed for complete beginners, my daily live trading session, private group chat access, and access to the tech buds. HQ Again, right now we are running one of our biggest sales at 150 off and that's that second link in the description down below.

Other than that, I Do appreciate you guys time. I Will see you later tonight for our Sunday stock talk. That's going to be right around 6 30 p.m Mountain standard time and if you have any questions, feel free to reach out to me via Discord or via Instagram and that's the first or third link down below. I Am using the Weeble trading application.

it is free for anyone in the US and right now they do have a limited time promotion that if you deposit one dollar and you use my link which is the fifth Link in the description down below, you will earn up to 12 free shares and I will earn one free share. so it's a win-win for both of us. I Appreciate your time like always. Let's make sure that we end the year on our green note.

Take it easy team.