So I Wanted to show you guys very quickly that we just broke below a specific support Zone that we have not broken below ever since. This rally has started dating back to January 6, 2023.. Check this out! So I'm going to start sharing my screen so you can see exactly what is that I'm looking at I'm using the Weeble trading application. If you guys don't have this and you want to test it out, it is free to test out.

It is free to use and you can actually earn up to 12 free shares if you download Weeble and that's going to be the fifth Link in the description down below. Just make sure that when you open up an account, you deposit one dollar. So without further Ado this is QQQ which is a NASDAQ ETF And one thing that has been happening that's so beautifully is since January 6 and you can see the date down here. January 6th.

We bottomed out here, retesting previous support levels around Uh, 260 a share, right? And then we broke above the EMA. We broke above the moving average and then this is where that uptrend began to happen. right? We formed higher highs and we would pull back, but we would hold above the moving average. We'd hold above the EMA.

We rallied Once again, we pulled on back pullbacks were part of the game, right? That's not what you should be concerned of as long as we continue to form higher loads. meaning that when it pulls on back, it doesn't go as low as it did before. So it held above the moving average right? This is my 200-day moving average. You could see that it picked right back up again, made new highs pulled on back not as low as it did before.

Higher lows did the same thing. Once again, higher lows above the moving average. We rallied we. Consolidated and what have we been talking about? Be ready for a pullback.

It's not because we want to instill fear into the market, but it's literally because it's happened on the way up. It literally happened even on the day chart markets always pull on back. And this was back during a very strong bull market. Right back in 2020 to 2021 we're forming higher highs higher lows.

But pullbacks always happen right? And this is why we were trying to make videos and preparing for you guys. Uh, to be aware of this potential pullback. But now what happened is we're not above the moving average anymore, right? The support: Zone Uh, that has been acting as a support. Well, now we are trading below.

It's not. now. The uncertain thing is there's a very common thing known as old support levels become new resistance levels. and now that we are trading below the 200 moving average right now, NASDAQ is going to have to try to retest and see if it could break back above 300 on QQQ And if it can't then guess what happens? Well, it's going to form a lower high and then break its support and continue to sell off.

And this is where that sell-off really begins. I Mean this was a pullback and pullbacks are part of the game, right? But this is where an actual sell-off begins to happen. And it's when we see this break of pattern I Just wanted to make sure that you guys were aware of this critical point of this break of support Zone especially as we come up to next week. right? If you guys are unaware.

One thing that I've been making sure our entire group is aware of Um is this series of different economic reports that are set to be released next week and this upcoming week, right? Uh, on February 14th we have the CPI data report. Current inflation rate is at 6.5 percent. our previous high or our Peak was 9.1 percent. So inflation has been making us a consistent decline.

You might be asking, well, what's causing some of this uncertainty? Why is the market pulling on back a little bit more than you know? We expected it? Remember, we live stream Jerome Powell Speaking in DC and one thing that he talked about is you know economic data is showing that our economy is stronger than really was expected, right? And with inflation coming down, that's good as long as what inflation continues to come down. But if job growth continues to happen, if economy, if economic growth, it continues to happen. But then inflation begins to pick back up again. Meaning that if inflation doesn't continue to decline, what do you think the Federal Reserve is going to do? They still have to focus on their quantitative tightening, which means reducing their balance sheet up to 95 billion every single month up to 95 billion every single month.

But on top of that, one thing that he said that was not already factored in again, feel free to watch the live stream or feel free to look at any other news outlets that are covering what it is that he said is not enough, people were paying attention to it, but if you pay attention during that live. One thing that he said that caught me off guard was or we will have to raise rates more than what is already factored in if inflation data shows that inflation is not coming down and you just have to think of how generous these CPI data reports have been Recently, they've been going down every single time that they are being reported from 9.1 now to 6.5 right? A consistent decline. But it's when things begin to get choppy that the market is going to follow right? And this is what I think that could send the market uh, down another leg if that in CPI data report comes in hotter than expected Because if this CPI data report that is going to be reported on the 14th, so on on Valentine's Day right? If you're worried about Valentine's Day because you don't have your partner, you know a nice little gift. I Think we have bigger issues? You got to let them know, sweetie.

6.5 percent is the number to beat, right? Market Expectation is this: If we don't fall below that, If inflation actually shows that it's rising, then I Hope that you guys are ready for the market to drop so much further than where we're at right now, right? I Wanted you to be aware of this support Zone But I also want you to be aware of the why, why is there uncertainty and what's to come, right? So we talked about the CPI data report, we talked about the supply Zone and we talked about the why and it's because of what Jeromepal said that he will do as the head of the Federal Reserve If inflation does not show consistent decline, so just want to make sure that you guys were all aware of it. If you guys have any questions, you guys know exactly where to message me. I Work with one team and one team only and that's my learn time. Profit team.

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It's a hundred and fifty dollars off. and again it's that second link down below. If you have any questions before signing up, either feel free to send me a message via Instagram or via Discord and that's the first or third link down below. Don't forget to pick up some of your trading mouse pad and apparel and that's all available at Shoptechbutts.com or the fourth Link in the description.

And of course, like we talked about, Weeble is the trading application that I use. It's available both on desktop and mobile and you can earn up to 12 free shares when you check. Deposit one dollar by using my link and that's the fifth Link in the description down below. I Really do appreciate you guys Time, hope, and wish you guys an amazing weekend And remember right? And to those that do not prepare in advance that end up freaking out if the market does pull on back.

But if you actually prepare in advance and the market does sell off, remember we can short the market so you shouldn't be scared as long as you take time to prepare. And again, that's exactly what we're working towards with our Lpp team. So if you end up joining our team, I'll see you at Market Open for our live trading session on Monday. We'll see you then team.