So let's talk about the reports that were released today. What's going on? Team: It's Ricky here with tech Solutions over on NASDAQ Market is up 42% We are testing that same resistance level that we uh established a few days ago previous resistance 41047 just making sure that you are aware of this. The one thing that I do want to point out is when these economic reports were released 1 hour before the market opened at 8:30 a.m. they originally sold off, they bounced off of the moving average and the Bulls came in in to save the market.

Higher highs, higher lows came back to retest. Now we've been trading sideways for about 30 minutes. We'll see if we actually begin to sell off. I will not short the market today unless we break below the moving average, confirming that we are trading below the 200 moving average on QQQ.

With that, I would entertain the idea of potentially shorting the market if we show progress below the moving average, but as of right now, it's too early. it's too bullish and there's just no reason reason to do so. Now let's get into what was actually reported: Personal income personal spending came in pretty much as expected: 4% 4% 2% 2% This is the funny part. You let me know down in the comment section what you think about it yesterday.

Bad news was good news. The GDP report came in at 4.9% Expectation was 5.2% So that means that the GDP came in lower than what was expected, yet the market reacted in a positive way. Feel free to check it out. But today, this report came in better than what was expected.

Pce prices PC Core both beat expectation coming in essentially lower than what was expected. So again, why is it that yesterday bad news was good news, but today good news is good news again. This is why I Wanted to look into this a little bit deeper. Was this the natural reaction of the market? and again, the algorithm Bots just came to save the Bulls Or is this really how the Market's going to continue to tr trade for the remainder of the day? I Want to remind you there's no more economic reports that are going to be released for the later part of the day since they're all they've all been released within the first 30 minutes of the market open.

So PC Prices dral orders coming in again better than what was expected 5.4% versus 2.5% Drillable. Uh, X Transportation Coming in again better than what was expected 0.5% versus the expectation of 0 2% This one caught me by surprise. This is new home sales coming in at 590k versus the EXP ation of 689k that's significantly lower than what was expected. And again, this is reporting on the month of November which is maybe why we're not seeing an uptick.

but if you've heard, interest rates have recently dropped for mortgages, bringing up demand for people to either do refi or purchase new properties at a more attractive interest rate rather than 7 or 8% Now they're in the 6% I've heard some even being at the lower 5% so just make sure that you understand that that data might just translate better in the month of January when we begin to report on the month of December because it needs to complete the month and then these reports come out. So new home sales way lower than what was expected 590k Expectation: 689k Yet Market Still tried to react in a positive way, so again, kind of confused on that consumer sentiment report coming in exactly as what was expected 69.7% 69.7% Other than that, Market's trading sideways I Wanted to follow up with this and ask what you guys think. Check this out. Nike is back down to 11.3% It looks like it's trying to bounce off of this General Support if we look at this again.

Nike has been a very bullish stock based off of recent patterns sold off due to earnings. It's a very risky trade today because the news the earning report is super relevant so more selling pressure can kick in. So let me make this very simple to understand. If you suck at locking and profit or you suck at risk management, this is not a stock that you want to trade or day trade today, right? The reason why is that again, it can be very lucrative if it begins to try to recover because it's down 11% So if it tries to recover 2, three, maybe 4% that could be an attractive day trade for those that know how to properly enter, exit, and manage risk based off of worst case scenario.

But if you don't know that about yourself and understand that, your time will come. but it's not now and maybe this just isn't a position that you want to put yourself in I mean Nike in a sense in the grand scheming things is a pretty safe play. But I'm just saying overall one day trading quicker moves, right? Because Nike doesn't normally move 3 to 4% in a given day. it's because it just sold off 11% that there's more volatility.

With more volatility comes more responsibility. So don't get it twisted. the other one that also is pretty lucrative Again, you let me know what you think. This one was brought up during my live trading session with my Lpp team today.

FedEx FedEx has recently sold off. It looks like it's establishing or trying to establish it support level and if it does begin to recover back to previous highs nearly a 15% Roi You guys know that I love identifying deals, but just because you find a deal doesn't mean that you need to buy it now, especially if it's not actively recovering. This is where creating a watch list, setting alerts, and being patient really pays. But again, don't worry I'm going to keep you guys up today.

The thing that I really wanted to point out is the overall NASDAQ market today and how the market is trading regardless of what NASDAQ is telling us right now. Check this out. Apple's beginning to curl over Amazon is beginning to curl over. Meta is beginning to test the moving average Microsoft is beginning to curl over and remember when these big tech companies begin to sell off and nose dive, they will bring down the NASDAQ Market with it bringing down any of your TCH companies that are influenced by the NASDAQ or S&P 500 so just wanted to make sure that you're aware again.

I Do Trade Live every morning and I talk about everything that is that I'm paying attention to from these economic reports. Live in real time and if you're tired of missing out and you want to be able to wake up every morning right at Market open and have access to these, remember, let's kick off 2024. It's the second link in the description down below, especially if you're an absolute beginner. I would encourage you to take 2 minutes, check it out, see if it's something that you see value in, and if so, I'll see you at Market open the next time the market is live.

Other than that, I Hope and wish you guys an AM amazing holiday season. Hope that you guys enjoy your time with your loved ones and family. Hope that earned your thumbs up. Please consider subscribing and if you have any questions before joining my Lpp team, shoot me a direct message right now via Discord or via Instagram and that's the first or third link in the description down below.

Appreciate your time like always. Let's make sure that we end the year on a green note. Take Care Team!.