Market is green today. What's going on guys, it's Ricky here with talk about Solutions So let's talk about the FED meeting that we have this: Friday if you are unaware uh this. Friday Let me go ahead and start sharing my screen so you can see exactly what it is that I'm looking at. You guys can go to the Federal Reserve.gov website.

Um, it's under calendars that again, you can bring this thing up I would encourage you to probably have it up and you have to refresh it on a weekly basis because they update it based off of the different Fed officials that are going to be speaking on that weekly basis if it wasn't scheduled in advance. So this Friday it's going to be August 25th we have Jerome Powell who's the head of the Federal Reserve and he is going to be speaking at the 2023 Jackson Hole Economic Policy Um, so pretty much Fed meeting this Friday and that's going to be about 35 minutes after the market opened. Um, with what's going on right now what the market looks like. We went back to retest the same support range for Nasdaq that we had during that pre-market rain.

Uh, pre-market level? We went back to retest. I Mean it was literally a textbook set up on the five minute time frame. If you ever, uh, struggle with over trading. One thing that really helps me is looking at the five minute.

It really makes things. Um, it really helps me not make impulsive decisions as much. It's still not perfect, right? But as much as I might um on the one minute time frame, Uh, now looking at the one minute and what? What we're testing right now looks like we're just testing these, um, kind of like overbought levels. Uh, looks like NASDAQ is consolidating.

We're still above VMA. We're still above moving average, but obviously need to be very, very careful because the pullback potential for it to come back down here is pretty high. And let me explain on the one hour time frame, right. It doesn't really surprise me that the market is trying to run up today, but remember, we've been getting rejected by this moving average all of last week, right? Rejection Rejection.

Rejection. Rejection Rejection Rejection. And then this time we're foolish, right? We're in the green. But let's not make it more than what it is.

What right? One green day does not define on a market recovery and it looks like we are still showing signs of a potential resistance. But we'll see. We'll see if we actually break above. uh, 364.

what would you say that? 364, 363, uh for QQ And if we do begin to see higher highs above that, then again, we can take a step back, look at that one hour and still see that you know we have a lot of a lot of cell and pressure that we've seen for the NASDAQ Market Uh, just not today. Today the market looks pretty bullish. It looks like it's holding up pretty well. It did sell off quite aggressively, but again, if you look at the five minute time frame, it was literally a textbook set up.

just a retracement right back down to the moving average. It went back to retest previous lows and then broke above VMA And it's been running up uh since then, so we'll see if we actually end up making new highs for a Kiki Q. It's up now. officially one percent on the day and Tiki Kiki is up three percent.

But one of the things that you do want to take into consideration is how the Market's going to digest and factor in what it has to be expected. That is going to be said this: Friday So the key event this week is Fed Jackson's uh, Jackson Hole conference which the markets assume that Powell who again Jerome Powell will speak and um and note the jump in yields and the recent run of strong economic data. So the Atlanta Feds GDP tracker is now running at a heady 5.8 percent for this quarter. So again, we just need to be very careful with whatever Jerome Powell might say on Friday at least in my experience.

Um, anytime that I hear Jerome Powell speak, he's very careful and calculated in the way that he doesn't ever say too too much if you're afraid to share your thoughts down in the comment section. But again, only time will tell. So I don't see any major economic report being released this week. so I Wanted to keep today's video pretty short and sweet.

We do have new home sales being released that's a little bit different and that's going to be on. Wednesday We have existing home sales that's going to be released tomorrow about 30 minutes after the Market opens and again the Fed chair Jackson Hole meeting That's going to be this Friday So I wanted to make sure that you guys were aware of it. If you have any questions about it, feel free to message me. If not, again, let me know what you guys think about the overall NASDAQ market and how it's still trading below the 30 minute and the one hour moving average, right? Do you believe that this is the bottom of the sell-off and that we're going to begin to recover? Or do you think that this is just another slight run up? We get rejected and then continue to sell off? So let me know down in the comment sections: I Appreciate you guys time! I Hope that earned your thumbs up in this video.

Remember if you have any questions, feel free to reach out and I Hope to see you for tomorrow's live trading session and that's the second link in the description down below. Appreciate your time like always. Let's make sure that we end the year on agree Now take it easy team!.