Another day that the market just trades sideways. What's going on? team? It's Ricky with T about Solutions Let's go ahead and just jump into the screen. I Wanted to show you the overall big picture of NASDAQ this is QQQ and pretty much since last week we've been trading sideways. not really showing progress on the upside, but definitely not showing progress on the downside.

Overall, market for the past 3 weeks has been bullish, showing signs of higher highs and higher lows. Let me make this super clear: I mean there's I would say I'm I'm a bear right now, right? Market's very overbought I would love to see a pull on back, but I'm not blind. Market's incredibly bullish. We're still trading above the moving average and we're barely testing the EMA Okay, so the idea is that yes, markets are overbought, but you cannot leave it out of the question that the market can continue to Rally Market can find any reason on why to make new highs, even if we are testing previous resistance levels, we are so close to previous highs that it wouldn't surprise me that the market finds any reason to try to justify on why it should continue to go up.

That being said, Market is very overbought. so again, it's just taking risk to reward ratios into consideration, right? The market is slightly in the red today, but literally not much. We're testing support at the moving average. now.

if we break below this and actually break below this support that we've had during the pre-market session and that we had last week on Friday as well, that would be a little bit different, right? We might be showing signs of progress on the downside, but we're not right. We're trading sideways. We're still above the moving average. We're not breaking below this support.

Um, we did have an economic report that was released today I Want to share this with you guys. This is the new home sales. It came in at 679k versus the expectation of 720k. So what this is telling us is that there are less new homes being sold than what was expected.

Normally, this means that the economy is slowing down slightly. This is good news for the Federal Reserve because if the the economy is slowing down, then the Federal Reserve can justify less rate hikes. and if they don't raise interest rates, then the economy can continue to go up. This is why I'm talking about both sides: I Don't want to sugarcoat things for you just because of my own personal opinion or preference.

Yes, I believe markets are overbought. but I know that just like when markets are oversold, the cheap can always get cheaper and the expensive can always get more expensive, right? That being said, I Want you to be aware of what's being released and how the market is interpreting it, because as of right now, Market's really not doing much I Don't care if you're a bull I don't care if you're a bear Market's pretty much trading sideways. but the only thing that gives the Bulls The Edge is that the market has been so bullish for the past 3 weeks that market sentiment might still just be more long than it is short. So that being said, do not be surprised if the market does begin to recover.

I am waiting to see for signs of progress on the downside, but if we don't get that, we have to respect the other side right. It's good to have your opinions. It's good to have your goals to work towards, but do not be blind to the other side for both the Bulls and the bears. But I'm sure that we can both agree.

As of right now, Market's trading sideways. It's probably not a day that if you're under the PDT rule meaning that you trade with less than $25,000 in a you know margin account in the US that you want to waste your day trade today, there's not some crazy activity. there's not great margin there's not true Direction and Market's been open for nearly 2 hours and we're pretty much just trading side way. So today might be a day where you might want to hold back, especially for what's to come this upcoming week, right? We have a long list of economic reports from Pce prices, personal income uh, we have GDP second estimate GDP deflator all being released this week and these are more significant reports.

So if you're looking for a more significant move then you might want to stay patient, Stay cash, and don't be afraid to give the market the time that it needs for conditions to be more favorable for you. Don't just throw your money at something and hope to get lucky, right? We're here not to be perfect, but to simply be a little bit better than what we were last time. And I Think that we can all agree overtrading is something that we can all work on I Just wanted to share my two cents with you guys. Um, we did trade Live today.

Uh with the Lpp team? Uh, we shared a lot of, you know open dialog with what was going on with the market, especially with that economic report and especially if you're just getting started. Would say that if you're a true beginner and someone that really wants to get into this Market but you're struggling to understand what to do and what not to do. I Do Trade Live every morning. We're running our biggest Black Friday sale and Cyber Monday It's never going to get cheaper than this.

It's 50% off and it's the second link in the description down below. If you sign up by today, you can watch me trade live as soon as tomorrow and you get access to the A2Z video. Lesson Library Designed for complete beginners, my daily live trading session, and the private group chat. It's all inclusive.

It's a onetime payment, livetime access, and it's our biggest discount 50% off. So if you have any questions before signing up, shoot me a direct message or comment down below I Hope that it ear a thumbs up. Please consider subscribing and like always, let's make sure that we end the year on a green now! Take Care Team!.