So what economic reports do we have in store for tomorrow? What's going on? Team! It's TWY with tech. Solutions here with a super quick stock market update. And here's everything that you need to know about what to expect for tomorrow's trading day. Let me go ahead and just start sharing my screen so you can see exactly what it is that I'm looking at.

This is an economic calendar. You can literally Google search that. There's a bunch of different free websites out there that provide you. You know, different economic calendars.

This is just from Finis. Honestly, it's kind of shitty, but nonetheless it gets the job done. We have PMI Rapport and Jolt which are job opening reports. Normally these reports are not too too significant.

but let me remind you right now, the big focus and the telescope right? We're looking into what the Federal Reserve wants to do. Monetary policy is one of the main focuses for the stock market. Interest rates were nearly at, you know, 40-year highs. Um, when it came down to the overall inflation rate, that was a big concern from 2022.

Now, inflation looks like it's being controlled. So right now now we're trying to see if the labor market is cooling off. But if it still supports or supports the case that there's a strong labor market, then maybe the Federal Reserve can go higher for longer. That's the main focus again.

I'll talk a little bit more about that during tomorrow's live trading session. And if you want to tune on in, it's the second link in the description down below. But one of the things that I also want to make sure that you are aware is how the market traded today, right? Uh, we made a video earlier today talking about the NASDAQ Market NASDAQ Market was aggressively selling off. But what did I say? We can not be surprised if the Bulls make a quick recovery.

The Market's been very, very bullish for the month of November. It was the best performing month in 2023, so it doesn't surprise me that after an aggressive selloff, the market tends to overreact. sometimes. It quickly corrected itself and check this out from when the Market opens.

So I'm in Arizona. That means that the Market opens at 7:30 30 minutes after, right? And then what what would this be? So it looks like it's 1110 a.m. Eastern time. Which again, if you take this into consideration when it comes down to Arizona time, that's about 2 and 1 half hours after the market open.

I Sent out an update to our Lpp team and this was sent out again exclusively just to my Lpp team. but again, Bulls Getting smoked? Remember Bears Don't be greedy. This is at 8:25 in the morning, which is nearly 1 hour into the market open right? It says just a reminder to have an Exit Plan Q Q testing support meaning that again, it's beginning to trade sideways. it's establishing and showing signs of a support level.

This is at 9:24 in the morning, about 2 hours after the market has already opened, right Sqqq lacking progress. Remember 5% is a big day for Sqq cube and a lot of people like to ask Ricky why do I trade the same things over and over again right? Well at the end of it, the stock market has so many different stocks to choose from. if you can really become a more more of a I would say not a true professional. you're never going to be perfect when it comes down to this.

But if you understand kind of like the average strong days and the average weekdays for the stocks you choose to focus on or trade I know that NASDAQ market and the way that Sqs and Tqs trade. So when I saw that Sqqq was up 5 to 6% on the day, it would not have surprised me if it begins to pull on back and on average. Statistically speaking, the the average big performing days are around 5% for Sqs and for Tqs. So when I see that it's up 5 or 6% I know that again risk to reward ratio.

Statistically speaking, I know that it's closer to the resistance than it is to a potential support. It doesn't mean that it can't rally for the days that follow. it just means for that given day as a day trader, I've most likely missed out that rally which is why I'm so grateful that I shared that update with my Lpp team. Because again, for someone that's just getting started, how useful would that information have been if you were trading as QQQ and just have been made aware of like hey, wait, this thing is overbought.

It is beginning to trade sideways and it is lacking progress. and if any open position is lacking progress, then at that point maybe it's time to close it out. Then we got the sell signal as you see here and it went for that overall sell off. So so grateful that I sent that out to my Lpp team and again if you want to be a part of it.

Second link in the description down below. but one thing that I also wanted to update you guys on is American Airlines We've been waiting for American Airlines to indicate signs of a reversal and today was a very strong performing day 2.5% in the green or above the EMA. We're above the moving average and it's looking quite strong I still haven't entered and I know I talked about entering in the mid, you know 1250 I still haven't entered I Thought that it was a little too early, but this is the thing right? if it continues to show signs of progress I Can just dollar cost average into it if you look at it on the little bit closer time frames. So this is the one hour time frame you let me know what you think down in the comment section I think it looks a little overbought based off of recent patterns.

When it rallies really strong, it corrects itself shortly after Rallies corrects itself. Rallies corrects itself I want to see I want to see if it rallies and if it holds, that' be a really good sign. but if it corrects itself again, I'm given another opportunity to buy it at the mid2 range. so I'm in no rush.

There's so much upside potential that in the grand scheme of things remember it might have 40% margin to work with. but even if I capture 20% of that 15% of that I'm not a perfect Trader There's no reason to pretend to be I have to be open to not being perfect and just making sure that I enter and exit when I when it makes sense to me, but also that I feel comfortable with that position size. The other thing that I thought was pretty interesting is that you guys know that I'm always looking for different stocks to potentially short spce. Just got absolutely destroyed.

The unfortunate part about this is that it gapped down 17 .5% and then 1% afterm Market hours. But this gap down happened into the extended hour session. so if you traded it during normal Market hours, it didn't really do much right because from from pre-market support to overall highs for the day back to pre-market support, it didn't really show signs of progress. which again brings me back to the same thing people continue to talk about.

You know, oh my. God this stock is gapping up. Or this stock is gapping down and they're just looking at how much that given stock is up for that given day. But you have to ask yourself a very simple question: Is it actually showing signs of continuous progress? because if a stock opens up 5% but then doesn't make new highs, what benefit does that have for a day trader that hasn't entered that position already I can enter a stock that is down 5% but if that stock begins to recover, then at that point I don't care how much it's down for that given day I Care about if it's showing signs of continuous progress because because that's what's going to make me money.

So please don't get those two things confused. So again, I'd love to follow up tomorrow. During tomorrow's live trading session, we are going to be live streaming the job opening reports and the PMI reports. and that's all going to be live within our private live trading session.

And if you want to tune on in, especially if you're an absolute beginner, it's the second link in the description down below I Appreciate your time I Hope that earned a thumbs up. If you have any questions whatsoever, shoot me a direct message right now via Discord that's the first link in the description down below or just send me a direct message via Instagram which is the third link in the description. Appreciate your time like always. Let's make sure that we end the year on a green now! Take Care Team!.