Can the market still continue to sell off even after Sqqq is up 5.3% today? What's going on Team? It's Ricky with teut Solutions and again this is just for my experience. So let's go ahead and break this down. So I didn't continue to trade SQ I closed it out at the day, left myself at the one lucky share just like I shared with you guys on today's earlier video made $31,995 181 on the day. Very great for it.

This is not my average an average day for me. This is a really really big day. One of the things that I want to talk about is is people looked at the overall NASDAQ market and they're like hey, NASDAQ Market is retesting previous support levels. It has to bounce And although I do agree that yes, we are testing previous support levels, it makes sense for Nasdaq Market to bounce here.

But I want to remind you of what's to come tomorrow. This is all going to be released pre-market and this is all just again. Um, you can decide what you want to choose to do, but something that contributed it wasn't the main reason, but something that contributed to today's selloff was that the job openings. The jolts report came out at 10: A.m.

and I'll show you this exactly 10:00 A.m. Eastern time. So at 10: A.m. eastern time which is 30 minutes after the market opened right? because Market opens at 9:30 A.m.

Eastern time, we can see here 30 minutes 10: A.m. right? We see a light nice little 10 here on the Weeble platform. Boom Sell off and that is when we went downhill. We were indicating signs of an uptrend.

It is what could contributed what might have sparked the initial selloff, but again, Treasury yields being as high as they are being a more attractive and safer form of investment for long-term investors. Pretty much people pulling money out of the stock market into treasury yields. That's one of the contributing factors. The second contributing factor is the Jo uh, job openings, right? This came in at 9.6 when the previous came in at 8.9 meaning that more job openings are available and what this is telling us in correlation to tomorrow's ADP employment change.

So now this again should have a little bit more impact because this will tell us truly according to ADP how the labor market is doing and one of the main reasons that again, the market digested today's data in a negative way, is that there are more job opens, right? which are necessarily a good thing if you're looking for a job which supports a strong labor market. But remember, we're looking at these economic reports: Through The Eyes of the Federal Reserve and if they see that the economy is not slowing down and they see the risk of inflation picking back up again because of a strong labor market and a strong economy, then they can justify more rate hikes And that's the big if. If this, this report comes in better than what was expected. So let's say the Un: uh ADP unemployment change comes in lower than what was expected.

Meaning that again, the overall situation when it comes down to the labor market is showing that the labor market is stronger than what was expected. Then you can expect that the market might react in a negative way because the labor Market's doing better than what was expected and this can give the Federal Reserve again enough data to support. Maybe we'll do one more rate hike by the end of 2023, which in all, honestly shouldn't be a surprise. Jerome Pal said it in his last speech after the last CPI data report that 12 out of the people who voted right it was a total if I'm not mistaken.

Uh, I think it was like 19 total Uh members of the Federal Reserve seven voted for no 12 voted for yes, uh, for an interest rate hike of at least of a quarter of basis points by the end of 2023. So uh, this is where again we're looking at it too too closely in the sense that if you're a day trader yes, it's important because you know it does influence the Market's performance for the day. Is tomorrow's ADP employment change going to be detrimental to the company? No, not in the grand scheme of things, right? And I think that's what's important to know, right? Uh, there's the microeconomics. And then there's the macro lens of the economic of how the market is doing right? I Think that's just something to take into consideration before you over complicate your trading or uh, begin to be too onesided right of like, oh no, Market has to crash now or Market has to recover now anytime that you put yourself in position where the market has to do something.

Um, that's not necessarily in my opinion, a position to succeed, right? Because who knows, right? tomorrow's report, the market might just digest it in a different way and the market for all of a sudden might just begin to recover. And if that's the case, then guess what? I'll choose to go long with the bulls. If the market ends up selling off, then I'll just choose to go long with the Bears I I have my opinions as well as I Love to share them here on YouTube but at the end of the day, we all know what matters most. and it's not my opinion.

it's not your opinion. You and I were irrelevant to the stock market. It's about what the market decides to do for that given day, right? As a day trader, it's our job to dance with the market. So if we respect the paint uh, the picture that it paints for that direction for the day, then we can normally do pretty well right if direction is clear enough.

But if we choose to step on its toes when we're trying to dance with it and we go against it, then again, uh, we really get hurt and that's probably how a lot of the Bulls felt today. And it wasn't that you did anything super over complicated wrong with your trading. it was mainly that probably. Again, you weren't focused on Direction because you were so opinionated and thinking that the market had to recover when it doesn't right? So let's remove that emotion.

let's remove those opinions that overwhelm and Cloud our thinking. or at least our trading. Um, and not over complicated, right? That's what I'm really excited to do in front of my Lpp team tomorrow. So again, it's going to be about an hour and 15 minutes before the Market opens, the ADP unemployment change is going to be released, and I'm just excited to be able to be uh, hosting that live stream with our Lpp team.

I Hope to see you guys there! It's going to be the second link in the description down below. Uh, if you have any questions even before watching that live, shoot me a direct message via Discord or via Instagram And that's the first or third link in the description down below. So I really do appreciate you guys time. Hope that we're in a thumbs up.

like always, let's make sure that we end the year on a green note. Take Care team.