So today is the last trading day of the month of February What's going on? Team: It's Ricky here with Technical Solutions here with a super quick stock market update. Wanted to show you guys one of my positions that I just closed. This is Tqq, which is the bull. ETF Uh, beautiful ascending uptrend pattern I Took a little while for it to actually continue to indicate signs of an uptrend I Told you guys yesterday on my last video I Got some pretty good response because of what I was talking about.

Um, talking about a position that I held overnight for Tqq. This is following my 18 000 gain yesterday on Tkq I made 12 256 dollars today and my 93 cents so far I Believe that again. As of right now, we are testing this same resistance range uh, that we were testing yesterday. You can see that we haven't really been able to make new highs above 22.80 and that's exactly what we shared with our Learn Plan Profit Group.

On the one hour time frame, we're still getting rejected by that moving average. On the four hour time frame, we're still getting rejected by that EMA line, But on the 30 minute time frame, we are testing a break above the moving average in the very early stages. So again, it's just progress. But if we do break Above This the next step is going to be 23 and then the test before, uh, after that is going back up to 25 a share I am.

Uh Oh! One of the things that I quickly wanted to cover is a lot of these headlines that you're going to be seeing today. Uh, and that's what's going on with today. Today is the last trading day of the month and if you guys were not aware I mean we can just literally look at the overall NASDAQ for the past month and we peaked in um on February 2nd if I'm not mistaken. So if you look at the overall NASDAQ we should have shown signs of peaking on February 2nd so you can see here.

February 2nd was when we actually peaked and ever since then I mean we are literally closing at one of the lowest points in February Which doesn't really surprise me that today is a little bit choppy. Uh, today's not a very significant, even with the economic reports that were released today. I Wouldn't over complicate today. Today's just one of many trading days, and if anything, it's probably just a little bit more choppy because it's the last trading day of a red month.

Okay, and normally what this means is I've seen this happen many times where if we're on track for one of the best months on the last day for no apparent reason other than we're on track for one of the best months, the market will rally Right now. It's not a good month, right? so therefore it wouldn't really surprise me if by the time the market closes, if there tends to be more selling pressure, it's just the last day of the month. I Just want to remind you that you should never be afraid to lock in profits, especially if your trade isn't going exactly according to plan. I Mean this position itself hasn't shown much progress just yet, at least for the past hour to nearly two hours we've been consolidating here.

If you look at the five minute time frame, we're literally testing the same resistance level right around 296 for QQQ We have not shown signs of continuous progress and remember we said this so many times before: I Feel like I sound like a I feel like I sound like a broken record and it's like you know any open position is a position that's open to risk and if this position is not making you any more money and you can see an obvious resistance, then why over complicate it, right? You can close it out or reduce it at these over about levels just in case if Again by the end of the day markets begin to get flushed out and there tends to be more selling pressure. I Just I Don't want you to get caught on the wrong side of a trade going from a grain trade to a veteran. I'm not telling you to sell your position if you don't want to, but if you went in for a day trade, if you've already hit nearly your target, right, but you might, you might not just be there just yet. I would just have an exit plan.

I Just don't want you to give back all of your profits. So if there ends up being a break-up pattern, just hold yourself accountable but very quickly. The economic reports that were released today: The two most important ones that I would say were released today were the Chicago PMI and the Consumer Confidence Report. Both came in lower than expected Chicago PMI with a reporting of 43.6 an expectation at 45.0 and then consumer confidence got reported at 102.9 versus the expectation of 108.4 So both actually came in lower than the prior month of January.

So again, but overall, all these are not very significant reports. Even tomorrow we do have the ISM Manufacturing Index and then the construction spending. but these are not like CPI data reports. These are not PPI data reports.

They're not inflation or interest rate hike reports or anything like that. I Would even say initial claims and continuing claims are probably more important than these other ones. Uh, based off of how they influence the market or based off of the current focus of the Federal Reserve Remember the big Focus right now for the Federal Reserve is inflation data is sticky, right? Inflation data Meaning that you know I Want to keep this as simple as possible. Inflation data such as the CPI report and the PPI report: Inflation is not going down as quickly as it was and that's what we want you to understand.

They're also talking about potentially raising rates more than what was originally expected and that's kind of what's bringing out this concern, right? So instead of the expectation for the month of March of the original 0.25 interest rate like now, they're saying maybe a point five percent interest rate hike is not out of the question. And if these significant reportings right if unemployment reports continue to come in lower than expected, then it shows a stronger economy. And if the economy shows to be stronger, then the Federal Reserve can justify being more aggressive with interest rate hikes because that means that the economy being stronger it can tolerate and actually take those hits of these larger interest rate hikes. And that's just what I want you to understand that right now, we're still in the very early stages of a potential reversal.

If you look at this on the day chart again, I Still stand to what I originally said right? I Knew that I I was expecting the market to pull on back I Guess you never know anything, right? I Was expecting the market to pull on back because of how overbought it was because of the January rally and the weaker inflation reports, right? So once the market did pull on back, now, we're still holding above the moving average. So for for all of you that are bulls right now meaning that your intention is to make money as the market goes up, you know, well, we're still above the moving average so you're still in place. you're still in game, right? If we break below this moving average, then that would be kind of like. you know.

All right, it might be time to change maybe your position size if you're very aggressively invested. If you're lightly invested, then it really doesn't matter if you're a bear right now. I would be careful. I'd be careful with shorting the market right right now or even for a swing trip because we are still above the moving hours.

Now if we break below the moving average, I'm going to join you Bears right? I'll short the market if the NASDAQ Market begins to break below the moving average on the day chart. but we just don't have that confirmation yet. And one thing that I just continue to remind myself is that this is why I'm so okay with closing out my day trades every single day. Um, it's just.

and if I do leave an open position overnight, uh, it's a position that isn't too aggressive where I can tolerate even worse case scenario and worst case scenario: I mean like kind of like a five percent movie their pre-market hours, right? Uh, luckily we haven't seen one of those either on the green side or on the red side recently. Um, but as of right now I just wanted to remind you that you have nothing but time. you don't have to over complicate today. Today's kind of just a choppy day.

It's the last training day of the month. It's no significant economic reports and I would not make today more important than what it actually is. Tomorrow is going to be the new month, right? It's going to be the month of March We have the inflation report coming in about two weeks and then we have the interest rate height coming out in three and a half weeks. So I'm going to keep you guys up to date on that I know you guys appreciate that at least I Hope you do.

Um, I'll make sure that I provide you guys the exact dates I provide you guys with the proper live streams in keeping you up to date when these economic reports are actually released. So if you're part of our Lpp team, you guys know exactly what what positions I've been taking today I Closed my long position on TQ So as you can see here: I only have my one lucky share I have no other open position, but I do have an open position right now shorting the market and I'm only up a thousand dollars on that, so nothing too significant. So I'm going to close both of those trades out today I have no reason to hold one overnight, even a small position. I'm going to close them both out and I'm excited to start the month of March Fresh with all of you guys! So I hope that I earned your thumbs up in this video.

Please consider subscribing if you, um, you know, haven't already and I'll keep you up to date with all these different economic reports that are going to be released in the month of March I Do want to remind you that I do trade live every morning? You don't have to join, right? But if you would like the way that I break things down, if you think that it would be a value for you to be able to watch me trade live, to see my entries, to see my exits, but most importantly to hear my thought process behind every trade. This is the only team that I work with on a closer basis. It's a one-time payment lifetime access right now to hundred and fifty dollars off and it's the second link in the description down below. So even if you're absolutely new to trading, this is designed for complete beginners I would encourage you I mean take one minute.

Click the second link in the description of this video. It's Learnplanprofit.net and again, it's going to break down for you exactly what's included in learntime Profit 2.0 So again, that's to be able to watch me trade live. Other than that, I do want to remind you that we are giving away a free tea with every single order today over 50 and that's at Shoptechbutts.com So this is one of your last days to be able to redeem uh, this specific deal and again, all of our mouse pads, all of our apparel collection wall art. You can buy anything a lot of you guys like my day trader art.

you can buy one of these day Twitter aluminum art so it's actually made out of brushed aluminum and then you can add your favorite tea to your order and you'll get it automatically for free at checkout. So you know you can! You can literally buy anything right? Just select your favorite items, add it to your cart. as long as your order is over fifty dollars, then you get that t-shirt for free at check out! I Really do appreciate you guys time I Hope that we earned a thumbs up! Please consider subscribing and I will see you tomorrow at Market Open for our live trading session for all of our new learn plan Profit Traders Like always, let's make sure that we end the year on our group now. Take it easy team.

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