So not much going on with the overall market today. I'm just going to be sharing my open thoughts of what's what I see going on and that's pretty much just the market is breathing today. So let me go ahead and start sharing my screen. Uh, for those that are a little bit newer again, I am using the Weeble trading application.

It is free and available to everyone in the US And if you sign up right now, you can earn up to 12 free stocks when you deposit at least $5 and it's the fifth Link in the description down below. As of right now, NASDAQ Market is testing the same support that we were testing during the premarket session. I just reduced my position size and sold Sqqq on this nice little downturn. Um, other than that, like Market's not doing anything man.

uh, the Bulls are so incredibly strong. it's literally just Trad uh, trading sideways. It looks like the Market's just breathing. So I Thought that I would talk about the most significant movers for the day because NASDAQ just isn't doing it for me.

Um, now if we break below 384 on QQQ Great. We could potentially retrace down to the moving average, but we're not even doing that right. I I know I can't just be me. You let me know down in the comment section how frustrating has the market been this past week? Cuz not even for the Bulls or the Bears right? Because all these moves are happening during the pre-market session Or they happen overnight.

Uh, and during normal trading hours? The market just does. This just consolidates right. It's been so frustrating. No signs of progress I just wanted to see it choose a side I would love for it to pull on back so I can open a short position uh and really hold on to it because of how much pullback potential there is I Just don't know if we're going to get it today.

So if we break below 384, um, 384 flat and begin to progress down here, uh, just know that I'm most likely going to open a short position and close it. Just all of these are day trades I'm not going to be holding any of this. There's too much inconsistency with Uh Sqqq right now. uh, that it's not worth the risk.

but uh, wanted to share with you the news that Microsoft one of the things that contributed to, uh, some of the rally today is that Microsoft hit alltime highs Microsoft is the second most valuable company that's publicly traded, right behind behind Apple and it hit the Uh the Uh the highest price per share and that's $376 per share, putting it at a $2.78 trillion market cap. When it was at the 376, it's now pulled out, pulled on back to 373 and I wanted to share this with you, right? For those that care. The last time Microsoft rallied and made new all-time highs, it sold off right away. The last time.

before that it made new highs sold off right away, right And there's this consistent pattern that when the market does make new highs or an individual stock does make new highs, it rallies because it's about to. so there's just a lot of buying pressure to get it to that new Milestone And then there's a bunch of, you know, overselling right? people locking in profits were very overbought and then it corrects itself. Overall, Markets Uh, Microsoft is more bullish than bearish. But I wanted to bring this up because Microsoft's RSI is at 74.

The Macd looks overextended and based off previous patterns, it tends to pull on back. and if that's the case because of its Market cap and this thing begins to pull on back. It wouldn't be much of a surprise if it brings the rest of the market down with it, but we'll have to follow up and see to see if it ends up following with those same patterns. Baba Reported earnings today, beating expectation if I'm not mistaken, but still gapped on down.

gave back everything that it gained yesterday or at least in the past two days, bringing it back to it, down to its previous support. The reason I'm bringing this up is that this was asked during our live trading session today if this was a good stock to buy and again, the biggest thing that I can remind you is that it's a consistent descending pattern. Lower highs, lower lows. Yes, it could potentially bounce here based off previous support levels and then try to recover.

But again, when direction is against you, you just want to be a little bit more careful because risk is of I would say um, just you are more at risk when direction is against you, right? Just like if I take a trade today or or I reopen a position on Sqqq I can't be surprised. Oh no, you know this thing's selling off. Well, it's been selling off, right? So if I choose to take a trade I have to understand what I'm getting getting myself into. and I think that's the biggest thing that I want to remind you is it's good to look at the one day one minute time frame.

But if you intend to hold the position more than just that one day, even just for that one day, look at the larger time frames, look at how it's trading, look at its overall price action, look at its overall direction. Um, and if it's overbought, oversold on these larger time frames, because again, it can contribute to that intraday. Play It's just something to take into consideration when it comes down to the overall economic reports. The ones that stood out to me most are initial claims and continuing claims.

Initial claims coming in a little bit higher than what was expected at 231k, which means more people are filing for unemployment than what was expected. which means that there might be a Slowdown in the labor market, which should technically be good news for the Federal Reserve Again, I Do want to remind you: I Do Trade Live every single morning. You don't have to join, but if you want to watch me trade live as soon as tomorrow, that's going to be the second link in the description down below. I Trade Live with them every single morning right at Market Open And if you want to see my entries, my exits, especially if you're an absolute beginner to hear my thought process behind every trade, I Take I would love to have you there and I'm actually kind of thinking of hosting a free Live trading I Guess I'll leave it up to you guys if you guys get this video, you know what? What is it? 750 likes? Uh, I'll host a free live trading session tomorrow and we'll go from there.

So I appreciate your time. hope that wear a thumbs up. please don't forget uh and consider subscribing. And again, if you guys want to enter our BMW giveaway during prize week, it's the fourth Link in the description down below.

It's coming to an end, so make sure you enter before it's too late like always, let's make sure that we in the year on agreen now Take Care Team.