So it looks like the Federal Reserve had a little update for us and let's go ahead and break down what they said. So let me go ahead and start sharing my screen. I Really hope that you learn 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. Overall: NASDAQ Market ended uh up a quarter of a percent so you can see from where the market opened to where the market closed that we definitely ended up green, but it was very easy to see that after it pulled on back.

we traded ways pretty much for the remainder of the day. If you ended up holding your position overnight, then during the extended hours, it did move up more than what it moved up during normal trading hours and that was a 34% move which means for Tqqq that was a 1% move afterm Market hours and a 72% move. Uh, during normal trading hours I did not trade Tqs I did not trade Sqs today. One of my little trades that I decided to take was I shorted General Motors and from overall highs to overall lows, it was not a perfect short by any means.

But again, I made the most of it and very excited to follow up on the larger picture because on this 1 hour time frame we are at a critical support testing the EMA There's huge downside potential and if we get that confirmation I would love to re-enter a short position in General Motors if Direction looks to be favorable. So if we think that it's been doing well or been going well lately, uh, I'm very excited to follow up if we do break below this EMA as again, I would like to see this back down to the $27 price point. so I'll have to keep you guys up to date with that if I end up actually taking a position. But let's go ahead and quickly talk about what the Federal Reserve has said.

So this is according to Forbes Market cease uh, spring rate Cuts So this is according to Market analyst and what the market is factoring in that in 2024, as early as spring of next year that they expect that the Federal Reserve should be cutting interest rates, the Federal Reserve is not there yet. So the the debt markets expect the US Federal Reserve to cut interest rates in the spring of 2024. In contrast, policy makers believe it's premature to discuss rate Cuts until they see further evidence of cooling inflation. A lot of you guys have noticed, right since last year of 2022 to now 2023, we went from a 99.1% inflation rate all the way down I think we currently sit at like, uh, the mid 3s or the low 3es or something like that.

Um, they had an overall price target of about 2% for their core inflation which is all items less food and energy. And they're definitely not there yet. But the economy has slowed down and inflation has definitely seen a drop from where we were right. So as of October, the annual Headline Consumer Price Index report is running at 3.2% compared to the Federal Reserve price Target or Target of 2% Fed officials are also signaling that a rate increase remains an option.

This is something that not enough people are talking about Now of course, all the economic data that has been coming out kind of supports the case that the Federal Reserve most likely will be pausing. Even according to the Investing.com Federate monitor tool, they say that there's over a 90% probability that the Federal Zerve is going to pause and definitely not rate increase, right? But as long as reports and all these different economic reports that continue to get released support the case that the economy is slowing down, then the Federal Reserve should have no reason on why to raise interest rates. But again, tomorrow we have an 0p employment change. So we'll see, and all of these economic reports are to be released before the Market opens right 700 A.m.

8:15 8:30 8:30 8:30 and these are all Eastern Standard Time And then at 10:30 A.m. tomorrow we have the Eia Crude Oil Inventory Report. But the most important report that I'm going to be paying attention to during this pre-market session is the ADP employment report that I will be making a video on. So again, just another reason to subscribe.

So if this thing comes in a little bit higher than what was expected, we could see potentially a little bit of a drop if it comes in a little bit lower and again, maybe we could see a little bit of a you know rise. Overall, NASDAQ Market has been pretty much consolidating. You could see from the past two weeks. two and a half weeks, very little progress.

It's not like it's making progress. On the upside, it's not like it's really selling off. We're pretty much trading sideways. So again, just another reason to stay cash and to not over complicate your trading.

You guys know that I Trade live every single morning. I will be traveling tomorrow. So I'm not going to be trading live tomorrow. but on Thursday and on Friday I will be trading live I Trade live every single day right at Market Open And if you're an absolute beginner and you want the ability to be able to watch me trade live my entries, my exits to hear my thought process behind every trade.

I take take two minutes, click the second link in the description down below and I Hope to see you during one of our live trading sessions. I Appreciate your time. Hope that under your thumbs up if you have any questions whatsoever, shoot me a direct message right now via Discord And that's the first link in the description down below. and you guys let me know down in the comment section.

According to the Federal Reserve and the potential rate hike, Do you see it to be possible? Or do you think that they're just bluffing and we're most likely going to be cutting rates as soon as spring according to what the market is expecting? Let me know down below. Like always, let's make sure that we end the year on our green note. Take care of team!.