Nasdaq Futures just opened up and they're looking a little red. What's going on guys? It's Ricky here with Technical Solutions here with a super quick market Update: Obviously today is Labor Day So in observance to Labor Day the stock market is closed. But again, just like anything, let's take time and prepare in advance to see what's to come for this upcoming week. Let me go ahead and start sharing my screen.

We got QQQ which is the NASDAQ ETF it's the one for one and after last week's performance, we saw a really nice push up testing as of right now, a slight Little Resistance level as we can see here and seeing if we can work our way back up to 388 which is previous highs for 2023. but if we look at the overall day chart, we're not that far from all-time highs from NASDAQ and that's at 404 for QQQ right? So quite an interesting week that we have ahead. Did we push up enough last week that now we're going to break below the EMA and begin to retrace back down to this moving average or technically. or we going to hold Above This EMA and continue to Rally to work our way back to previous highs of 404 dollars for QQQ That's I Mean as simple as we can literally put it, when it comes down to overall economic reports that are set to be released.

Uh, let's go ahead and talk about that. So, the overall schedule for this week obviously today: September 4th the Market's closed September 5th we got Factory orders that's going to be released 30 minutes after the Market opens and then on Wednesday September 6th we have the same schedule. as always, nothing too significant that looks to be released Thursday initial claims, continuing claims Again, just the same setup that we tend to see every single Thursday on a weekly basis. and then on Friday September 8th we have wholesale inventories and consumer credit report that is all going to be released when it comes down to the Federal Reserve calendar.

Just want to make sure that you guys are aware. Obviously, today, an observance to Labor Day markets closed Tuesday nothing Wednesday nothing Thursday we have Governor Michelle Bowman going to be speaking. that's at 4 55 PM I Don't see this to be too significant to the overall stock market, but on Friday this is why I wanted to share it with you guys. We have Vice chair of the Federal Reserve Michael Barr that's going to be speaking and this is 30 minutes before the Market opens Eastern Time right? So just something to take into consideration on Wednesday if there's High expectation or low expectations of something that he could potentially say great.

but again, it's not like Jerome Palace speaking, its Vice chair of Michael Barr Uh, so I Don't think it should be too significant to the overall Market but only time will tell. Right when it comes down to the next time the Federal Reserve has an Fomc meeting, the Fed rate monitor tool is telling us that there's a 94 probability that based off of current economic data that the Federal Reserve pauses meaning that they don't increase interest rates the next time that they have an Fom C meeting. which again means that if we don't raise interest rates, things are not necessarily getting worse and maybe the stock market can continue to rise, right? There is a six percent probability that the Federal Reserve is expected to raise interest rates from 5.5 to 5.75 uh, percent. So overall, it looks like a pretty chill week.

Nothing too significant. The the biggest moves that I'm going to be focusing on and the the big Focus that I have this week is I Want to see if we're going to see a lot of choppiness? meaning that if the market sells off one day and then tries to recover the other and then sells off the remainder of the day, right? If there's inconsistencies with the market, I'm going to keep mine trading. Very simple and if that's the case, then I will close out every trade after I You know, focus on having a big one and then after that, close out that trade and focus on not over trading and being super selective. There's pretty big moves that can present themselves if we drop below this EMA or if we bounce off of this email and continue to hold above and continue to Rally.

but again, I Just want to make sure that if it's anything like two weeks ago when there's a lot of inconsistencies I Just don't want to put myself in a tough spot where if direction is unclear that I end up entering a position that I might end up regretting, right? And that's the last thing that I want. We all know that based off of how the NASDAQ Market moves, other markets, other stocks move with it, right? So if NASDAQ Market begins to gap down, this only means that Tesla Apple Microsoft can also be gapping down as well. Right if the NASDAQ Market begins to Gap up. then again, it can uplift those other companies as again, they benefit one another when they move together.

But if there's any negative moves, remember, you don't have to freak out. There's always money to be made as long as you focus on one thing and that's Market Direction and of course, price action. The market sells off, you guys all know, but I'm going to be paying attention to and that's Sqq as that goes up on the NASDAQ Market goes down. so I'm very excited to see.

Uh, you know which direction the market ends up choosing. I'm just hoping for consistency, right? And as long as I have that, I'll know exactly what to play. If We Hold the Bob VMA on the one hour time frame I'd like to go along if we break Below on the one hour time frame for QQQ I'd like to go short but again and for more details about what it is that I'm going to be trading I Trade live every single morning with our Lpp team and that's the second link in the description down below. That is my learn Plan profit group I Work with them every single day.

and yes, they get to see my entries, my exits and get to hear my thought process behind every trade I take during that live session. So if you want to learn more about that to see if it's a good fit for you, we're running one of our biggest sales for Labor Day And yes, the second link in the description down below I Appreciate your time like always. Let's make sure that we're in the year on our green now. Take it to your team.

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