So why exactly is the stock market going up today? What's going on? team? It's Ricky Detective Solutions here to simplify what is going on with the stock market. I'm going to start sharing my screen so you can see exactly what is going on. We got Tqpq up nearly four percent on the day, which is pretty good day, especially based off of the previous three red days that we've had. and QQQ which is the NASDAQ Market uh is up 1.3 So we talked about this yesterday: I Made a video about uh, the series of economic reports that we're going to get released today.

That was the initial claims report and the continuing report. Excuse me? I feel like I I might be getting sick. so I apologize if I sound a little weird, but the initial claims remember initial claims are for people that are fine filing for unemployment for the first time, right? Probably coming from a job loss Now we talked about this yesterday. We want initial claims to come in higher than expected.

wait Rick Why? And by we, it's not me, right, don't don't come after me. I mean by the Federal Reserve Why would the Federal Reserve want initial claims right? For more people to file for unemployment? Well, if people are violin for unemployment for the first time, it probably means that they recently just lost their job. And if they recently just lost their job means that they're unemployed, right? And if they're unemployed and those numbers are going up, then that's exactly what the Federal Reserve wants, right? They want the economy to feel the pressure They want unemployment to be right around 4.1 to 4.3 percent by next year. Right now, unemployment's at 3.7 So again and then continuing cleanse out the people that have continued to fall for unemployment.

So now you understand what these two reports are and guess what was reported? The expectation was 220k. It came in at 230k. So you had more people followed for unemployment for the first time than expected. That's a good thing right now.

Bad news is good news and good news is bad news. The prior was 1609 and today it was 1671.. more people have continued to file for unemployment again, coming in hotter than expected. Now again, why exactly would this cause the market to go up? Remember, if they see that the economy is feeling the pressure, especially with this up and coming interest rate interest rate hike, then the Federal Reserve can justify being less aggressive, right? If they're trying to put out a fire and they say see that the fire is actually being put out, then yes, they can justify it using less water.

But if they're trying to put out a fire and they say that hey, no, the fire is still growing, right? The economy is still growing. And guess what, They're only going to justify using more water to put out that fire. And that's what you would view these interest rate hikes. They're raising interest rates for the economy to contract to feel the pressure.

and if they're seeing that the economy is not feeling the pressure, then they will only justify being more aggressive. But if they say the economy is feeling the pressure and more people are filing for unemployment and guess what, they can justify being less aggressive. And instead of the 0.75 percent interest rate hike only raise interest rate to 0.5 which would cause the market to go up again. This is good news.

This is why the market is going up. My job here is just to give you a better understanding of why why is the market going up and based on the past couple of days it's been kind of left in the air of like why exactly is the market going up, why exactly is the market going down and it's been kind of hard to depict because it's just this Market sentiment. Now of you know all these different economic reports that were being released. we're not coming in worse than expected.

They were coming out better than expected, which again, it doesn't necessarily support the case of being less aggressive for the Federal Reserve So this was one of the first reports at least for this week. That was a pretty decent report that definitely came in worse than expected and that's a good thing. So as of right now Market is very overbought if you look at this on the five minute time frame. we're very overbought based off of recent patterns were recently coming from a sell-off so I wouldn't be surprised if we do pull back and correct ourselves.

We just finished our live session with the Learn Plant Profit Group and it was amazing to see people be able to lock in profits, especially during uncertain times. Remember why are times uncertain? Tomorrow is the PPI report. This is the Producer Price Index Report. This is the inflation report for producers and I asked you guys yesterday if you want me to live stream it.

Drop a thumbs up. If this video gets over 15 1500 likes I'd be more than happy to host that live stream for you guys and that report gets released one hour before the Market opens. If you guys don't want me to host that report, then no worries, we won't But again, that report gets released one hour before the Market opens at 8 30 a.m There's one more report today at 10 30 A.m Eastern time which actually was just released and it's the Eia recruiting natural gas inventory reports. Normally that doesn't have much of an effect on the overall Market especially not on the NASDAQ market.

So if you have any questions, feel free to reach out to me. Right now I still see the market to be very oversold. Great opportunity for long-term investors, but the Watcher position size and know that the market can get worse. Before that it gets better, especially with the up and coming inflation reports for both PPI and CPI that are coming in next week ppis this Friday which is tomorrow and then CPI I Believe it's either Tuesday or Wednesday of next week it's the 14th of December Um, so I'll leave it at that I Appreciate your guys time.

Hope that we earned a thumbs up. Please consider subscribing if you have any questions. Send me a direct message via Discord and that's that first link in the description. Don't forget if you want to be able to watch me trade live every single day and join our live sessions, that's that second link in the description and we should be ready to sell for you.

So if you want to join, now is the time for the reminder. If you guys want to enter our giveaway and if you want to learn more about it, it's the fourth Link in the description, The first micro price is going to be given away and it does end this Sunday and the winner will be selected on Monday Like always, let's make sure that we end the year on a green note. Take a digital.