So why are markets dropping what's going on? Team? It's Ricky with teut Solutions here on Tuesday January 9th. Giving you guys a quick pre-market update, let me go ahead and start sharing my screen. The NASDAQ Market is down 77% giving back partially of what it gained yesterday after a really strong rally. Uh, when it comes down to the economic report, the trade Balance report that was released 1 hour before the market opened came in at 63.2 billion which is a little bit less than what would the what was the expectation of 64.7 billion.

Also, the small business Optimism report came in at 91.9 when the previous or prior came in at 90.6 Now again, I Wanted to point out some things that were highlighted in the Wall Street Journal Uh, so this week there is a flurry of mergers. It says Juniper Network Sur stock surged uh on Tuesday after this report came out. uh in closing of a$1 13 billion takeover. Uh, One thing that is also really important to note is we were talking about this yesterday during our live trading session and it's Boeing stock.

A lot of you guys must have heard that the catastrophe uh of the 737 Max 9 flight. Uh, if you guys haven't seen this, Uh, there was an unfortunate um incident that happened over the week where a Boeing plane was involved and um, it caught fire right? I think it was in Japan Correct me if I'm wrong, but this caused Boeing stock to sell off and it looks like it's kind of flattening out, right? So it sold off 8% yesterday. It's kind of holding its ground now, right? It's very unfortunate news, but the question you have to ask yourself again, all emotions aside, is is this the end of Boeing or is this just an overreaction on the downside that it will recover from, right? Because when looking at this, if something drops 8 or 10% that's potential for Recovery If this isn't detrimental to the company and it ends up returning to its previous Direction and that was extremely bullish, right? We could see from current lows to previous highs, which again, it can continue to sell off. but I think it's just an important thing to talk about is if it does recover uh to previous highs that it was just at about two weeks ago, it offers a 17.3% return.

I Know that I've added uh Boeing stock to my watch list Now, not because I need to buy it now, but if it does begin to indicate signs of an uptrend, then I would love to entertain the idea of a potential swing trade If my criteria is met and there. I Go setting my secondary alert if it breaks above the EMA right? Just because it sells off, or just because it dips doesn't mean that that makes it a good stock to buy. it's is it indicating signs of recovery? And that's the question that I'm asking myself. So it says uh, futures of the S&P 500 and the NASDAQ 100 Um, all Edge down.

Uh, this might be because of the economic reports that were released that might have just furthered that selloff for the overall NASDAQ market. So if we look at QQQ again, looking at this on the one minute time frame, we are seeing a lot of selling pressure right when those economic reports came out. Uh, that should have been at 830 for that trade balance report. Uh, we saw even a little bit more of a sell-off.

Now we're beginning to show signs of a support. The thing that I want to remind you is on this 4H hour time frame, we are testing the EMA So again, are we going to sell off and get that confirmation or are we going to hold here and begin to bounce back? We are at a critical range where the next few days will really determine. Are we going to begin to Rally or sell off? because on Thursday we have the CPI data report also known as the inflation report and that will determine right if we see a rate cut sooner than later. If this inflation report comes in much higher than what C what was expected, then there should be no reason on why we could justify a rate cut earlier within 2024.

But if this inflation report comes in way better than what is expected, then yes, the Federal Reserve can most likely justify a rate cut sooner than later. Again, something very interesting to follow up with. So it also highlighted a couple other things where oil prices gain nearly 2% yields on the Uh 10year treasury note. um held broadly steady, so again, not much movement there.

But the big thing is that earning season is kicking off this week with the JP Morgan, Chase and Bank of America set to report earnings on Friday Which means next week we should have a few tech companies reporting earnings as well as US inflation report. just like we said on Thursday and on Friday for the CPI data report and the PPI data report. So I'm getting ready to go live with my Lppp team for our live trading session. This is where they get to get an inside look and see every entry, every exit, every trade good and bad that I take during this live session.

I Do it for about 30 minutes to an hour, sometimes even an hour and a half every morning. right at Market Open. So if you're an absolute beginner and you want to tune on in, it's the second link in the description down below and I'll see you right at Market Open because that's exactly when it is that. I Go Live! I Hope that it ear a thumbs up.

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