Markets were becoming overbought, and a pullback like this is natural given those conditions," said Keith Buchanan, senior portfolio manager at Globalt Investments. "So it was more technical than fundamental."
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So why is the stock market absolutely tanking right now? What's going on? Team? It's Ricky with tech Solutions There's no reason to sugarcoat it. So Dow Falls NASDAQ Market Falls S&P 500 Falls Um, and again, this was said by Um: a senior portfolio manager. Markets were becoming very overbought and a pullback like this is natural giving those conditions. we've been calling it that.
Again, it's not about preparing for a pullback because you need to sell, but it's just because when it does present itself right when there is a break of pattern, if we break below the moving average, you can't be surprised when something becomes very overbought, that it is someone's second nature to want to maybe consider the idea that hey, maybe it's not always going to continue to rally and form higher highs and higher lows, right? And very, very glad that we talked about that in today's earlier video. And it's not just in today's earlier video. I've been talking about this for the past few days. Obviously, I'm not perfect.
My entries my exits will never be perfect. I'm not here to pretend to be right. But the idea is is, if you look at the overall big picture, markets are extremely overbought. There's there's no secret reason on why they're pulling back.
today. they're just finally pulling on back because again, any reaction tends to be an overreaction in the stock market. and this is exactly what is happening. So if you look at the NASDAQ today, it finally ends a 10day green streak and it's retracing hard, right? We've said this, especially if you're part of my Lpp team, right? They get to watch me trade live every day.
If you want to tune on in us tomorrow, it's the second link in the description down below to watch me trade live and again. it's designed for complete beginners. but the whole idea behind that is that you when we enter these sessions, right? I uploaded a video even last Saturday It is so critical for a beginner to not get caught in the idea. the fallacy that the Market's always going to continue like this, right? It only takes when we're this overbought.
It only takes a really big seller, one big whale to kind of be the first Domino to create this ripple effect. and I think that's exactly what we're experiencing, where everyone is just coming to realize. Okay, you know we, we've We've milked this enough. And it's not that markets have to continue to sell off.
That's not what I'm saying. but it's natural. There's not one stock in history that rises without pulling on back. so it is natural to always take into consideration that we can pull on back.
And when looking at this on the one minute or the 5 minute again, markets really began to sell off. once we broke below the EMA the moving average and then they began to flush out. Now we're turning at lows of 403 and we'll see. We'll see if we if now we capture an overreaction on the downside.
but I Want to remind you tomorrow we still have those series of economic reports GDP Estimate right? that's going to be tomorrow. Initial claims, continuing claims, and then on. Friday One of the most important reports this week. that's Pce prices. But don't worry I'm going to make sure that I keep you up to date on everything it is that the market is factoring in in advance and all I literally ask you to do is to subscribe to the channel. Other than that, I Hope to see you for tomorrow's live trading session. That's the second link in the description down below and if you have any questions before joining, click that first link in the description and send me a direct message via Discord Like always, let's make sure that we end the year on a green out Take Care team.
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Nasdaq to 13500😊
It is because the Houthis in Yemen if not stopped will cause inflation to soar as freight costs will go up significantly
These fckn reports always throw everything off. But you're absolutely correct, it's like a raging bull. And it needs to stop and breathe after a run. Much appreciated for all the updates!! 👍👍👍👍
What us pulling back? The dow was up again!
I saw that the Rate cut odds went up today, I really think something in the economy broke but they are just hiding it.
Appreciate the updates Ricky
heroine jabronie less dead rambo revenge epstine mob from arouras big brother program keeps trying to epstine me with there kids to cover up there dope.
Trump knocked of ballot in CO caused market sell off!!!
Selling if you have the correct positions is the worst thing you can do! If you are invested in a stock and didn’t do research for a 10 year holding plan you screwed up and invested in something you did not understand!
Thanks Ricky! I did Calls on Amazon this morning, then Puts mid-morning into the afternoon.
Bought a bunch of calls when everything tanked at market closed… fingers crossed
Treasury auction !
This video wasted three minutes of my time.
Gap up tomorrow morning. SPY should rally tomorrow above 470 to 475; QQQ rally tomorrow too maybe a new all time high tomorrow or early next week. Cant end the pre-christmas week on a red day, santa coming with the big green on Friday.l!
Profit taking plus market is overstretched , we need a healthy pullback to about 440 on the spy for a move up again
Dark Pool has $$$Billion of SPY premiums at the $460 strike price. So guess they know something we don't know.
It's a trick….down and then more up. Too many weak hands
We are at extreme greed! A minor correction is in order but in the long term, the T/QQQ will make new highs in 2024! The big boys are manipulating the market. Be persistent, average down, and you'll win in the long term.
Or maybe gdp numbers were leaked. I couldn't believe that it sold off that hard all in 15 mins just from being overbought
Republicans are tanking the market to hurt President Joe Biden.
My protective puts printed today I’m happy.
AMS380H has all the fundamentals to achieve 100x. Great to see exposure like this. When the community grows and comes together this will fly!
The recent announcement is just crazy check AMS380H.
AMS380H, a pick with potential if they follow through!
Since you mentioned AMS380H, Im a subscriber now. Awesome video and great altcoin suggestions!
You cannot argue with AMS380H ecosystem numbers. Fud all you want but its a highly active chain