Nasdaq Market is hurting today. What's going on guys? It's Ricky Here with techbook Solutions Hope that you guys are all having an amazing Thursday I Want to provide you guys 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. So let me go ahead and start sharing my screen. Overall: NASDAQ Market is in the red, but in all honesty I mean that based off of what we see going on right now, it's kind of showing signs of a potential support already.

One thing that I want to point out very quickly? The one minute time frame doesn't mean much to me on the 30 minute time frame I Want to point this out to you? Are all aware we are testing our support range on NASDAQ which is QQQ on the moving average on the 30 minute time frame. If we break below this, we could have a second leg back down and again, that's something to take into consideration, especially as we have Big Tech reporting earnings next week. Amazon Microsoft Google Apple You guys know the deal This week, the big Focus for Tekken for Nasdaq in my opinion was Tesla and Netflix and guess what? both of them are in the red. Tesla Selling off down nearly seven percent on the day so far.

Looks like we're again showing signs of a potential support and hopefully it stays there. but if you guys can look at based off of previous patterns, this doesn't surprise me. Nice little pullback and again, it's not the end of the world. It's definitely just a nice little pullback, especially if you're a long-term investor.

Um, you know I get really excited anytime I'm invested in something and it's very overbought and it pulls on back. It just gives me another opportunity to buy back into it, right? The thing that I want to point out is a series of So economic reports that were released this morning: I Want to make sure that you are kept up to date with what's to come potentially by next week, right? Initial claims and continuing claims: Initial claims of the number of people that are falling for unemployment for the first time that came in a little bit lower than what was expected 220 8K versus 240k. So what that is telling us is that less people are falling for unemployment But Continuing claims: People that continue to fall for unemployment came in at 1754 and the prior was one seven, two one. So more people have continued to file for unemployment, but less people are new again.

Kind of contradicting on that side. but overall, remember, if the labor market is shown to be stronger than what was expected, then that can support the case for a larger interest rate hike from the Federal Reserve And as of right now, check this out. this is actually whoa whoa whoa whoa. Check this out.

I Don't know if this has actually bugged out, but now we're seeing a 99.6 probability that the Federal Reserve is I think something happened because it was just that 98 that the Federal Reserve was going to be raising interest rates. Oh, it looks like it is still right. So 90. Oh no, it looks like it's switched as of right now previous day Probability: As of right now, there's a 99.6 probability that's supposedly the Federal Reserve is not going to raise rates.

I'm gonna have to follow up with this because that was not what it was saying earlier today. so that's actually quite interesting. Uh, but the reason I say this is anytime that again, our economic data is showing that it's doing pretty well, especially on the labor market side. Then for that, for that case, the Federal Reserve can see that the um, you know the labor market and your overall economy can take a hit from a larger interest rate hike.

If you're going to be asking the question, when is the next Fomc meeting again I Do want to remind you that we will be live streaming it next week and that is on Wednesday 2 2PM Eastern time and all. I Literally ask you to do is to make sure that you subscribe to the YouTube channel and of course drop a thumbs up on this video if it's not too much to ask. So we talked about Tesla being in the red, the other company that also reported earnings that is not doing too hot today. Check this out! Very unfortunate, but it's Netflix Netflix is down at nine percent on the day and you can see that it aggressively pulled on back and right now we're testing our support level.

but of course it could continue to form lower lows and lower highs. Now this is for our active Traders One of the things that I want to point out is this morning NASDAQ was beginning to indicate signs of an uptrend. We're testing that same resistance range and this was actually all caught in my live trading session today with the Lpp team. So again, Lpp team is the team that gets to watch me trade live every day.

If you want to watch me trade live as soon as tomorrow, it's the second link in the description down below. but a trade that I took was Sqq and check this out I closed out my position so I only locked myself with my one lucky share. And how how is it that we're able to make this happen? when the things I want to point out is that we waited for confirmation I already had a position as it was showing signs of a support here. I had my stop loss set and if you're part of LBP, you would have seen that.

I had my stop loss set at 1683 meaning that if it broke below that meaning that if QQQ began and continue to indicate signs of an uptrend, then I would have cut losses, but just based off of previous patterns, it got rejected. We waited for that sell signal, we waited for that confirmation and then that's when I stepped on the gas I added more I added more I added more, showed signs of consolidation I reduced it, it pulled on back, added more, added more, added more, and then again we reached overbought levels around 1752 and we've been consolidating and lacking progress here ever since. Now, if you're asking the question, Ricky why would you lock in profits right now if it's still in the green? One of the things that I like to focus on is if there's no signs of continuous progress. Any open position is a position that's open to risk and because of that, if there is no continuous progress.

On the upside, then again, I am taking or putting myself at risk because that because I have an open risky position as we've seen that the Market's been more bullish than it has been bearish. So because of that, I did not hesitate to reduce my position size and close out that trade for the day. So if this thing pulls on back and then you know, pulls back enough that it begins to show signs of a reversal. I would love to get back in I'll get back into Tqq if needed.

but as of right now, one thing that I want to wait out for is my main focus and this is what really the whole video should be about. And I know not enough people are gonna are gonna focus on it. We're at a critical point right now on: NASDAQ on the 30 minute time frame I Want to see if we find signs of a support here and begin to recover or if we get rejected here and begin to sell off I think that will be a great sense of direction. To tell me a little bit more if I should be going into Sq's again or if I should get along and go into TQ So very excited to follow up! I'll keep you guys up today and again if you guys have any questions, especially if you're just getting started.

Remember it's free to be able to message me via Discord and that's the first link in the description down below. Also, again, friendly reminder. If you want to be able to watch me try reliable soon as tomorrow, that's going to be the second link in the description down below. I Do appreciate your guys's time, hope and wish you guys an amazing end to the week.

And like always, let's make sure that we end the year on a green note. Take it easy team!.