We are entering correction territory according to CNN and I Want to explain what this means because I feel like this is instilling some fear in a lot of people that don't really understand. Kind of like the technical term behind this. Let me go ahead and start sharing my screen so you guys can see exactly what it is that I'm looking at. Overall: NASDAQ Market as of today is up 1% It's not looking very, very strong.

It's right now testing its support at the moving average. If we break below this, it wouldn't be much of a surprise if we sell right back off to around 346 maybe 345 5. Uh, I Want to remind you this week is not a good week for overall NASDAQ Market We're down right. And this is because overall, big Tech has not really met expectations when it comes down to earnings.

The only one that has pretty much still in the green uh is Amazon And thankfully because of Amazon again, it's holding its ground up here. But if Amazon begins to sell off again, be ready for some selling pressure into Friday's close. But let me answer this question very, very quickly and very very easily. What does CNN mean by NASDAQ falls into correction territory as Market slips on disappointing Tech earnings.

It's super simple. so we're entering a recession when the NASDAQ Market or when any Market is down more than 20% from previous highs. Right now, we are looking at the recent highs NASDAQ Market has made. So looking at QQQ we could see highs of 38742 and with where we're at right now, you could see that we're down 10% This is correction territory.

Anytime that we are down more than 10% from previous highs, you guys could see that overall on the year for 2023, NASDAQ Market has had an amazing year. This is following a very rough year for 2022, right? 2022? Technically, we were in a recession, not just on the technical term of two consecutive down GDP reports, but as well as being down more than again 20 20% for the overall NASDAQ Market from previous all-time highs. the technical term for correction territory. Just so you guys understand, this is again simply when you are down more than 10% or 10% or more from previous highs.

So that's from 38742 to again 346 347 As of right now, and it looks like the NASDAQ Market is just again pulling on back. It shouldn't really scare you, right? Let's say that the NASDAQ Market continues to sell off. We all know that there's money to be made right when the NASDAQ Market sells off. Sqqq goes up.

and for long-term investors, let's say that you don't like to short the market or go into ask QQQ I Respect that. You also don't have to over complicate it, let the market sell off. We still have Apple reporting earnings next week. If I'm not mistaken, let the market sell off even more, right? We all know that markets end up recovering.

It's simply the the idea of can you tolerate the time that it will take for these markets to recover. That The big question? Do not put yourself in a position in which you cannot tolerate the time that it will take for those markets to recover. At least that's the way that I'm approaching the market. I do have an open position on Sqq.

I'm not up a ton right now I'm up about $6,500 on the day so far, but I'm very, very excited to follow up again. All my trades today were all caught within my live trading session with the Lpp team and again, they are the only team that get to watch me trade live every single day. So I am going to be closing out my trade today as I do every single day and I'm just taking it day by day. There's no reason for me to carry a position overnight because there's an uncontrollable amount of risk, especially when direction is not super super clear.

The Market's been more bearish than it has been bullish, but now the Market's oversold enough that it could potentially recover, which is why I'm choosing to play it safe again. I'd Love to have you be able to watch me trade live every single morning if you want the ability to watch me trade live as soon as Monday when the Market opens, it's the second link in the description down below. It's our biggest sale. It's not going to get better than this and it's a one-time payment lifetime access and yes, you'll get to watch me trade live every single day.

I Appreciate your time, Hope that we a thumbs up. Please consider subscribing and like always, let's make sure that we end the year on a green note. Take Care Team!.