So why is the stock market dropping what's going on guys? It's Ricky here with talk about Solutions and with a super quick stock market Update: I Hope that you learned something new and if you do, please consider dropping a thumbs up and subscribing. If you feel like we earned it, let me go ahead and start sharing my screen. So all together on the day on Skq, an amazing rally during my live training session today, it caught my initial entry on S Kiki Q The NASDAQ Market was actually showing signs of an uptrend. It found its resistance.

it gapped up. We literally like called it out perfectly. If you are part of Lpp, feel free to re-watch today's live session. We stayed very patient.

It got rejected based off of yes or two days. Uh, two day highs, right? So, uh, 33 57.50 We're testing that same resistance. We got rejected once it actually got rejected and began to sell off. It broke below EMA broke below the moving average.

The selling pressure continued right. We broke below pre-market support and then another wall of selling pressure. You can see the consolidation here. try to make you know it.

tried to find a support here. try to Gap up and it just simply formed a lower high, broke below that and aggressively settled off and just continued and continued uh to drop. Now we did a good job locking in profits. I Might have sold a little bit too soon, but again walked away with eleven thousand dollars in the green.

but I Want to talk about where the market's at right now? If you look at this on the 30 minute time frame again, my job is just to make you aware you can agree or disagree with me. It really doesn't matter, we're all entitled to our own opinion. Uh NASDAQ Market has pulled on back. We are testing our support range on the moving average.

on the 30 minute time frame I Wanted to show you this RSI is oversold. Macd is oversold. We are testing our support range. We normally find a support here, but not always, but on the one hours normally where we always based off of this bull run have held above right.

even on the most aggressive pullback that we've experienced, we held above the moving average and we continued to rise. We are below the EMA although on the one hour time frame and it looks like we're gonna go to retest that previous a support range which should be very close to that moving average right around 346. but we will see right. We first have to break below the 30 minute moving average and actually show signs of lower lows and lower highs and that would bring me the confidence to continue to short the market if we get that confirmation that we are trading below the 30 minute moving average.

You guys I want you guys to let me know in the comment section what you think about that you might be asking? Well, what is causing some of the selling pressure? the economic reports that were released today were nothing too significant. You guys could see that we have the MBA mortgage Application index came in at negative 1.4 percent and then the trade balance came in at a negative 74.6 billion with an expectation of negative 75.3 billion. so again, a little bit less than what was expected. We have the consumer credit at 3 Pm eastern time, but it's this that I think is the most important and it's that Canada or Bank of Canada hikes another, um, pretty much quarter of a basis point, right? So if Canada is Raising and continuing to raise interest rates, does this shed some light on our next Fomc meeting? right? Because our next Fomc meeting is on the 14th of June right? That's when the Federal Reserve will decide.

Are we going to do another rate hike? Are we going to do a right pause Which is what the market thought we were going to do Or are we going to do a rate cut? Meaning, actually, you know, cutting on rates that's going to be determined on the 14th. But before that, remember, we have the June 13th CPI data report which is the inflation report. I'm going to be live streaming it for free one hour before the Market opens. All I ask you to do is to drop a thumbs up and subscribe to the channel.

But with that being said again, I think it's just the way that the market is reacting that hey, if Canada is raising rates, then maybe so will the US right? Maybe so will the Federal Reserve in the U.S And what does that mean for the market? Well, if the FED continues to raise rates, then that means that the FED is still hawkish. That means that for people like you and I and businesses, it's going to make it more expensive to borrow money. And if it's more expensive to borrow money, then of course it's probably not going to be best for the overall. Market I'm seeing a lot of headlines right now talking about everyone called for a potential recession in 2023, but we are entering a new bull Market.

I Want to ask you guys for your opinion: What do you think? Do you think that this is a bull market that we are going to be entering? Or do you think that these are the early stages of a recession? Kind of like a bull trap or rallying before we actually end up selling off? So again I Wanted to show you guys both both sides of my trade. So again, 11 000 on Sqq and on Tkq. I do have an open position right now because of how oversold it is. I intend to add more to it.

Uh, but right now on the day 3000 so all together, a little bit over fourteen thousand dollars on the day. Very excited to follow up. I'll keep you guys up to date if NASDAQ breaks below its previous support I'll just end up having to manage my risk on that TQ position. But remember if you're part of Lpp, I'll keep you guys up to date in our trade Idea section if you're tired of missing out and you want to watch me trade live as soon as tomorrow.

I've said it so many times before. Click the second link in the description down below and you can watch me trade live as soon as tomorrow. We're running our biggest sell. It's not going to get bit better than this and it's 175 off.

It's a one-time payment, lifetime access and you will get to be able to watch me trade live every single day and again. That's the second link in the description down below. I Appreciate your time like always. Let's make sure that we end the year on a green note.

Take it easy team.