The market loves to be super confusing. What's going on team? It's Ricky with Techb Solutions Hope that you guys are all having an amazing Thursday Uh, so today the overall NASDAQ Market was indicating signs of an uptrend. We hit alltime highs for the NASDAQ once again QQQ hitting highs of 40630, but then quickly changing its overall direction. We had a pre-market support of right around 405 meaning that every time that it bounced here, it would work.

Recover. Bounce here. it would recover. Bounce here, it would recover.

But then we pulled on back. We began to test that 405 support and then we made lower highs, got rejected by the EMA the moving average and actually ended up selling off. So right now we're pretty much almost break even for the NASDAQ Market Nothing too too crazy, and almost every big tech company is selling off. Let me double check this.

So AMD is on the early stages of a reversal Nvidia is actively selling off Trillion Dollar Company Gole Google is actively selling off Trillion Dollar Company Microsoft is actively selling off $2.7 trillion doll company Meta is actively selling off Amazon is actively selling off, but Apple is holding its ground Apple just made new all-time highs today and I think it wants to hit $200 a share. We were talking about this during today's live trading session. you know Apple just wants that pretty round 200 price point number for some apparent reason and it's doing a really good job holding. But also Tesla is with a very strong performing day.

it wanted that 250 price point and we got really, really close $ 24987. But it looks like overall, um, Automotive companies are doing pretty well today, but Tesla is obviously doing exceptionally well holding its ground holding above EMA holding above moving average. But if you look at this on the 1 hour time frame, this has been a very, very common resistance range for Tesla. So just the heads up to any of those that are considering maybe buying or adding more at these levels.

this has been a previous resistance range and maybe may not be the worst idea to lock in profits until we see continuous progress Beyond this level. but as of right now NASDAQ nearly Break Even Let's talk about what exactly is going on. So it says the Dow Jones Industrial Average kept its rally going through Thursday A day after closing 37,000 for the first time in the last 10 years, treasury yields tumbled to below 4% and a surprise gain on retail sales gave investors the confidence for 2024 will bring with a soft economic Landing So this is talking about what we were um, reporting on yesterday. With that Fomc rate decision of pausing interest rates but also deciding to cut interest rates.

in 2024, we have initial claims and continuing claims that came out a little bit lower than what is expected. meaning less people are filing for unemployment than what is expected. Which means that maybe the labor market is actually doing better right because if less people are filing for unemployment checks, then that means more people have jobs. And if more people have jobs, then the unemployment rate should be going down and not up.

But remember the Federal Reserve wants to see that the labor market is still somewhat slowing down, but there's so much good news being injected into the market that it would not surprise me that the market would just find any reason to try to continue to go up. I Think now what the market is experiencing is again: A Lot of people are locking in profits as the NASDAQ Market just hit all-time highs. I Don't think you guys understand how significant that is. We have really big tech companies that are at all-time highs.

They are doing their part of locking in profits. Uh, towards the end of 2023 going into 2024 and it might just be a small pullback today, right? Because we're not really showing much signs of progress. But who knows right? can we continue to? Rally towards the end of the year, will we get that? Christmas Rally again Direction Looks very, very bullish. You guys know that you know I've been paying attention to the market I've been waiting for signs of a pullback I Don't see there to be any reason right now to be a super aggressive short seller or a super aggressive bear obviously intraday.

right. when it comes down to your day trades, you can short the market, but then you can buy to cover all within the normal trading hours to hold a position because you think that the market now is going to sell off. I Think is very, very naive because the Market's been more bullish than it has been bearish, especially for the past 2 to 3 months has been one of the strongest rallies of 2023 and I do not want to get in the Bull's ways. Obviously, I'm not afraid to make money as the market pulls on back for that given day.

but a day trade is so much different than holding a position overnight because it's an uncontrollable amount of risk. So just another reminder for those that are considering holding your short position into the next or following day just with one day of confirmation. So very excited to follow up. If you guys have any questions about what's going on today, feel free to shoot me a direct message via Discord or via Instagram which is all linked down below and again.

I Do Trade live Every morning I'd Love to have you for my Friday's live trading session. It's going to be right at Market Open. You get to see every entry, every exit and you get to hear my thought process behind every trade I take and that's the second link in the description down below. If you're ready to sign up and watch me trade live as soon as tomorrow, like always, let's make sure that we end the year on a green note.

Take Care Team.