Hey, what's going on guys? It's Ricky with Tacbook Solutions Hope that you guys are all having an amazing Thursday Uh, the PPI Data report which is the Producer Price Index report uh was released today one hour before the market opened. We did live stream in it before, but before we even get into today's video. I Do want to remind you that tomorrow I am giving away one thousand dollars cash during our free live trading session. You do have to save your spot.

and that's that first link in the description down below. The cutoff will be tonight at midnight. So if you want to save your free spot and partake in the free live trading where I'm going to be giving away a thousand dollars cash, you don't want to miss this one. and that's that first link in the description down below.

But again, the Producer Price Index Report was released today Again, you guys can find this at Bls.gov Forward slash: PPI It came in a little bit lower than expected when it comes down to overall PPI We came in with an increase of 0.2 percent in April and the expectation was a point three percent increase in the month of April so a little bit lower than unexpected and initial claims and continuing claims both came in higher than expected or higher than last week. What is what exactly does this mean? Well, 264 000 people filed for, um, what's it called? Uh, my goodness. I'm having a uh, brain fart. So 264 000 people are filing for unemployment checks for the first time a Uh, 180 or one point I Guess 1.8 million people are now asking for continuous unemployment checks.

so the expectation was 247 000. We're going to file for the first time 264 000 people filed for the first time. Which means that unemployment checks for the first time are up. Potentially more people are losing their job and or at least more people are actually applying uh for those unemployment checks which is not a great sign for our overall labor market and or the fear of a recession.

Now one thing that I do want to remind you is please do not forget that the up and coming deadline for the debt ceiling is around the corner and this is something that Congress is going to have to come up with that will affect affect the overall market. So please make sure that you know the date so you're not surprised if the market reacts either in a bullish or bearish way based off of what is actually reported. The last thing that I want to share with you is why you could have seen some selling activity during the pre-market session, especially if the PPI report came in a little bit lower than expected. Why is the market selling off or why are we seeing so much consolidation? So again, Tqq I closed out my trade I think I have one share.

Yeah I have one share left here I left myself with sixty seven hundred dollars profit on this trade alone. I do have an open trade on Skq a little bit over four thousand on that. So ten thousand dollars total. but again, not a crazy move on the day based off of how the market opened right? Market opened up and then sold off right away.

It's been trying to recover and there's just been so much consolidation, so overbought levels are closer to the 26 dollar price point. 26.50 Oversold levels based off of our current support range are at the lower 25 levels. Yeah, we did hit lows of 24. but that was more of an active sell-off We're not really seeing much of that as of right now.

But one thing that I do want to share with you um is two things: Disney Shares fell more than eight percent. After Media Giant released its fiscal second quarter and reported earnings, it fell eight percent. The second thing that is sharing, um showing signs of some concern for our overall banking Market is Pac West Bancorp showed that in its 10q filing, deposits fell 9.5 last week and it caused the stock itself to drop an additional 22 today alone. Again, Well, JP Morgan have to step in to acquire another Republic Bank right? Uh, to make sure that this whole concern of the banking system failing doesn't continue right? Um JP Morgan Again, one of the biggest U.S banks um in the United States It won't be much of a surprise if they have to act as the big brother and acquire these smaller Banks so it is not considered that overall or all banks only Regional banks are the ones that are really showing uh, kind of like flashing red right where there's a concern for depositors people like you.

and I of hey, is our money safe in your Banks and smaller banks are what are flashing red a little bit more right? Because we saw it with Silicon Valley Bank We saw it with First Republic Bank and now we have pack West Again, this would be a very big failure for the overall U.S Then we'll have to see if JP Morgan follows and again how the market reacts to that. So overall, just wanted to make sure that you guys were aware of where the NASDAQ Market is right now. looking at the four hour time frame. we're still very bullish trading far above the moving average and far above that you MMA line.

It is considered to be a little bit more on the overbought side, but no signs of a pullback just yet. We'll see if we end the market in the green, especially following with what economic reports are going to be released tomorrow one hour before the Market opens. But nonetheless, again, one thing that we always say is when in doubt, cash out. Remember if you cannot tolerate worst case scenario or the market itself is not making you any more money based off of an open trade, you have One of the best things you can do is close out that trade.

Play it safe and wait for direction to be a little bit more clear. We'll cover a little bit more about this during my free live trading session tomorrow and again. Friendly reminder: You do not want to miss this one out when I'm giving away a thousand dollars and that's that first link in the description down below. If you have any questions, shoot me a direct message via Discord or via Instagram and all of that is linked in the description and friendly reminder.

There's only a few days left for our GTR giveaway or 50 000 cash and if you haven't entered already, it's the fourth Link in the description down below to learn more on how you can enter: I Appreciate your time like always, let's make sure that we end the year. Agree? Nope. Take it easy, team.