I'll let you guys decide. So today, the Fomc minutes report gets released at 2 pm Eastern time I Wasn't thinking about live streaming it because it's not an actual like live where Jerome Powell is going to be speaking. uh but some of our Lpp members asked and requested for me to make this video. If this video gets over a thousand likes uh, 30 minutes before 2 P.m Eastern time, then I'd be more than happy to host that free live stream here on YouTube So again, drop a thumbs up and subscribe if you guys would like me to host that.

But even before that, let's go ahead and talk about how and what you can do to prepare so very quickly. If you've never been a part of an Fomc minutes report, all it literally is right. So there's an Fomc rate hike or rate decision and that's when the Federal Reserve actually announces. Um, you know if they're going to be raising, pausing, or cutting interest rates.

When it comes down to this Fomc minutes report, it's pretty much just a summary of on our previous rate hike. So you'll see here. If you go to the Federal Reserve.gov website, it says on Wednesday August 16th, which is today at 2 Pm Eastern time, it is going to have an Fomc minutes report based off of the meeting from July 25th and July 26th which again was last month. So this is just going to tell us a summary of who voted for or what on our previous FMC rate decision and what led to that quarter of a basis point rate hike.

Yes, it does affect the market to some degree, but nothing too significant. So again, as of right now, I'm up a little bit over Uh 1500 so far on the day I can continue to teeter-totter right around a thousand to uh, two thousand dollars so we'll see how the day actually ends. Um I don't have an open position on Skq? Um I closed it out I left myself with my one lucky share as of right now Market continues to test this support on the moving average and that same resistance range that we have on QQQ right around 360 715, 367, 30. But one of the things that I want to point out that's a little bit more easy to see is on this five minute time frame, we are getting rejected by this moving average.

We can easily get rejected and potentially sell off. Obviously, with an open position in T Kiki Q I don't necessarily want the market to sell off. but the reason that I was so willing to take a position on Tqq was because if you look at QQQ right if we take a step back, you could see that for the past couple of days we've had a very common support range at this support level. and then once I originally entered Tkq I was very close to that support range.

So I saw huge upside potential versus very little downside risk because if it did break below, I could simply cut losses. so it made sense according to my risk to reward ratio, making sure that my upside potential outweighs my downside risk. It's a very simple way of being able to approach the market and making sure that I approach it in a calculated way. Other than that, I mean there's not really much to today.

As of right now, all the other economic reports have been released. We're simply waiting for the market to decide which way we're going to be going on the 30 minute time frame. Just like we talked about yesterday, we're still getting rejected by that moving average. We still have that same solid support level, so that is the question that we are going to be asking.

It is very, very simple. We have a support at 365 for QQQ Will we break below waiting for confirmation or will we break above the EMA and then go back to retest this moving average that we haven't been able to break above and actually break above this moving average and show signs of higher highs and higher lows. No one knows we have to wait for this confirmation, but I Have a feeling that after that Pharmacy minutes report, maybe we'll have a better sense of direction if the market wants to resume to being bearish or actually recover and being bullish. So again, anytime that you're in doubt, don't be afraid to size down or cash out.

I Really appreciate your time again, I'd be more than happy to host that livestream at 2 pm eastern time, but I'll leave it up to you guys. Get this video to over a thousand likes. Make sure you subscribe to the channel and turn on your post notifications so you don't miss out on our live stream like always. Let's make sure that we're in the year on a green note.

Take it easy team!.