So did you know that yesterday was one of the biggest sell-offs that the markets have seen in months? What's going on? Team? It's Ricky with tech Solutions here with a super quick stock market Update: I Really hope that you learned something new, and if you do, please consider dropping a thumbs up and subscribing to the YouTube channel if you feel like we earned it. So in today's live trading session, for those that don't know, I Trade live every single morning. If you want to watch me trade live as soon as tomorrow, it's the second link in the description down below. Just make sure you wake up before Market opens.

But overall, NASDAQ Market Based off of yesterday's performance, we saw a very quick recovery, especially with some of the economic reports that were released this morning. For those that did, uh, didn't know, there's a handful of economic reports such as the initial claims and the GDP report that was released 1 hour before the Market opens at 8:30 a.m. Eastern time. Initial claims and continued claims.

Initial claims are the number of people that are fing for unemployment for the first time. Continued claims are people who continue to fall for unemployment. Both came in lower than expected or lower than the prior week, and and again, that just shows that less people are filing for unlo employment. That means potentially a stronger labor market.

We also had the GDP third estimate being released coming in at 4.9% versus the expectation of 5.2% that came in lower than what was expected. So is that a good thing, right? This kind of brings us back to the case of bad news is good news. And it looks like it's still the case because once this report was released, NASDAQ Market began to go up. You have to take this into consider into consideration.

If our economy is not doing maybe as good as we expected, then really, the Federal Reserve has no reason to slow down the economy even more so. That is why I Believe the market is reacting in a positive way when this report was released and it's because we're trying to see all these economic reports Through The Eyes of the Federal Reserve And if they see that the economy is slowing down and it that it doesn't need any further slow down, maybe the opposite. It needs a boost that instead of hiking up interest rates, we can justify more of a pause or even cutting interest rates just like the Federal Reserve announced. And that's why bad news is good news.

Through The Eyes of the Federal Reserve for that specific economic report. Now, as of right now, NASDAQ Market is testing the same support level that we've been testing all premarket session. And what I mean by that is. look at this: QQQ Trading in between 40540 to highs of right around 40640.

A lot of consolidation here ripped up, but guess what? We formed lower lows and lower highs and sold off for the remainder of the day. So please don't get it confused just because the markets are green, doesn't mean that the market is showing signs of progress for the Bulls right? There's many times that the markets can open up in the green, but all they do for the remainder of the day is sell off. And this is why Direction and progress is so important. This is what we talked about in today's live trading session.

I actually ended up taking a short position going into S. Q and it's because I began to see that NASDAQ wasn't making any further progress. If anything, it was really Sqqq that was establishing its support and showing signs of progress on the reversal. But now we're again back at that same resistance we're on.

QQQ We're now back at that same support. So As the market consolidates here I Don't like to carry an open position and as you can see, Sqqq I left myself with my one lucky share. No reason to over complicated as of right now. NASDAQ Market is trading sideways.

There is no progress above. There is no progress below. So what do I Do Do I try to predict the future Or do I just wait and allow the market to paint its picture for the day. And this is the part that a lot of beginners over complicate.

They try to formulate their opinions prior to the market telling you what it's going to be doing. So instead of that again, I have my alert for the break below. I'm going to set my alert for the break above. If the market begins to show signs of progress on the upside, then I can go into Tqqq if the market begins to show progress.

On the downside, I can go back into SQ but guess what if the market continues to consolidate then that is not a really trade I think is worth taking because there's no progress. There's no reason of having an open position that's open to risk when direction is not clear. So this is where is important to know that you can always stay cash when direction is not clear until it is and then you can choose to strike when criteria is favorable and that's exactly what I'm going to be doing today. One of the things that I quickly wanted to talk about is uh, one of the big Runners for the overall day.

If I'm not mistaken I'm going to double check here. no cuz we did have American Airlines hitting highs of 14.28% but also this right it opened up very strong and then sold off for the remainder of the day. We have Walmart that again also tried to show some progress on the upside but then sold off for the remainder of the day. So we're not seeing much progress on that as of right now.

just a lot of consolidation so let's not over complicate it. Let's keep today. Uh, today's trades super super simple, especially going into Friday tomorrow. there is a very important report.

It's the PC report and it's 1 hour before the Market opens. This is one of the most important reports. Through The Eyes of the Federal Reserve It's one of their favorite reports, so I think that will really determine if we end the week strong or if we add or see more selling pressure into the markets Closed tomorrow for that weekend. So I appreciate your time I Hope that it earned your thumbs up! I'll keep you guys up to dat on every everything and anything stock market related.

Please make sure that 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. And yes, it's designed for complete beginners, so I'll see you there like always. Let's make sure that we end the year on a green now! Take Care Team!.