So why exactly is the stock market selling off what's going on Team? It's Ricky here with Technical Solutions Hope that you guys are all having an amazing day! So if you're part of my learn plan profit group, um make sure that if you didn't already. We had our live trading session today and it was very easy to see I mean during the pre-market session there wasn't much activity. We gapped up and asked QQQ uh was up 4.2 4.3 percent during that pre-market session and when we got into Market open as QQQ pulled back, we then began to indication of reversal. That's when I opened my short position on the NASDAQ market.

So remember Sqq is a NASDAQ triple leveraged short ETF So this goes up on the NASDAQ Market drops. and the great thing about this is that I started off very light. I was adding more to my position as Direction was in my favor. and one of the biggest things that you know we have been focusing on is Direction momentum and progression.

Um, a very simple thing right? You know indicators we like to use as a reference but never has a sole reason on why to take a trade. Uh, once we begin to see I mean one of the things that I always like to ask myself is progression and what exactly does that mean? You could see that it's been trading sideways or it hasn't really made much progress for what maybe the past hour right? We hit highs of 48.79 and yes, all of a sudden it can continue to Rally but we're up nine percent. I Mean, at one point we're up nearly 10 on the day it's been trading sideways. it is very overbought on the day, and it's been a great day trade so far.

So if the progression is slowing down if the downside risk is now much greater than the upset potential at that point. I Justified Just closing it out originally I sold um, 50 50 to 75 of my position as we became a little bit more on the overbought side. And then as we began to trade sideways I just call the day and right around that, 58.50 I locked in profits altogether and I just announced that if again, you're part of our Lpp team. I Announced it in the trade ideas section and make sure you go and re-watch today's video because we talked about position size.

You know we were still uncertain if we were going to make higher Highs But once that's selling pressure, uh, began to kick in. I Mean it was very obvious. So we've been talking about it all day where you know we've had a previous support range right around 280 for QQQ when we broke below that support range I Mean it was very easy to see that selling pressure could follow. Now when asking the question, why exactly is the market selling off it's quite funny because all we wanted was the interest rate hike to be 0.5 not 0.75 percent.

But the Market's actually selling off because you know if you read all these news articles and I've read a couple of them right now. trust me. foreign I Do apologize headphone users I am a little under the weather, but I wanted to make sure that I give you gave you guys an explanation if you read all these different news articles. none of them say anything news.

I Mean there was a series of economic reports that were released today. Uh, but it was nothing special I mean um, if you actually look when majority of them were released, Everything from retail sales from continuing claims from initial claims. I mean we talked about this yesterday if you look at the actual NASDAQ market during that pre-market session. I mean these reports were released one hour before the market opened.

This was the movement that they caused. So it's so funny to me when I see news articles try to give credit to those reports and why the Market's selling off yet had such a little influence during a very volatile, you know, session, right? That's during, uh, extended hours, so it's not any of that. What it actually is is just as of right now. Market is factoring in what was announced yesterday.

although all we wanted was a 0.5 interest rate hike in the end, that was announced by the Federal Reserve Um, it seems like now that good news is now bad news, right? Uh, they're scared that the Federal Reserve is going to be continuously raising interest rates and it's something that necessarily the market was not expecting, especially based off of our last CPI data report where we came in lower than expected. So I think the market, just you know, uh, is bothered by that third interest rate hike that they said that they're going to, uh, have in 2023 instead of just having to, which is a little bit more aggressive than we expected. So as of right now, I'm taking it day by day again. this is just 100 my opinion.

I Think that because of the market pulling back today I mean three percent for the NASDAQ Market's a pretty big red day, right? Uh, we're looking at a nine percent. Green Day I I Think it's great for those that were able to take advantage of, you know, shorting the market today. Uh, just like we did. Um, you know, and those that are part of Lpp.

but I would take it day by day. I mean I I would not be surprised. Um, if all of a sudden markets begin to recover because what has been shared has not been terrible news, right? right? I Just think right now Market sentiment is a little bit negative based off of the reaction that we had yesterday. So I'm taking it day by day I Still think that now and again that's just my opinion, is a great time to prepare for long-term plays.

Uh, but again. position size uh is a huge part of that. So do not put yourself in a position in which you cannot tolerate. So there's so much opportunity out there.

even aside from what we focus on, you know I'm looking at Apple I'm looking at Amazon A lot of these different companies are very very oversold. Uh, I'm just you know I know one, two, three years from now we're gonna look back at midnight and be like dang you know I should have I should have invested more into you know Amazon when it was at 80 a share. but it's very easy to kind of look back and be like I should have done this better. Um, but it's hard right in the moment to be like dude Things like pretty bad and I agree with all of you guys.

So remember, don't put yourself in a position that you cannot tolerate. Uh, don't be afraid to take it day by day. and maybe one of the best positions you can be in is even cash, right? Yeah, yeah, you might not experience your green day, but you're also not experiencing a red day. Uh, so never be afraid to stay cashed, especially as of right now.

Uh, QQQ And on the four hour time frame I mean we can see that we broke below that support so more selling pressure can follow. Uh, we should be showing signs of a support right around the 275 area for us for QQQ but we'll see if we actually continue to hold. So I'll keep you guys up to date here on my YouTube channel. All you have to do is drop a thumbs up on this video and make sure that you subscribe.

and if you have any questions about what we talked about that are that is trading related, send me a direct message via Discord It's the first link in the description I Respond to all of my Discord messages. Some take longer than others, but again I mean I can't be of value for you if you don't reach out right? So don't over complicate it. send me a direct message, introduce yourself I Don't care if you're an absolute beginner, there's no shame in the game. We all start knowing nothing and I would just love to be of assistance for you.

If you have any questions, reach out to me. and if you have any other questions aside from just trading, shoot me a direct message via Instagram That's that third link down below. I'm verified on Instagram and that is my only Instagram account. If you want to be able to watch me trade live every day you heard me talk about them in this group uh or in this video, it's my learn plan Prof group.

they're the only team that I work with on a closer basis and I get to watch me trade live every single day to one time payment lifetime access. Right now we are running the sale and that's that second link in the description down below. We are also running a giveaway and if you want to learn more about this giveaway, click the fourth Link in the description so you guys can enter to win some of these items that we have back here. We're doing micro giveaways every single week and you can get a chance to win one of these small prizes.

So I appreciate your time. If you have any questions, you guys know how to reach out. like always, let's make sure that we're in the year. On a green note, take it easy team!.