So what is causing the market to go up today and how long is this expected to last? Uh, let's go ahead and start sharing my screen just so you guys could see I wanted to show you guys I don't have an open position other than my one lucky share on Sqqq as you can see one lucky share. so I've lost 20 cents on the day. Um, but one of the main reasons is uh, during today's live trading session, a lot of you guys know that I trade live every morning with my Lpp team if you want to watch me trade live as soon as tomorrow. It's the second link in the description down below.

But one of the things that we began to notice is let me show you on QQQ because Sqqq is the inverse of that. So QQQ during the premarket session first off, NASDAQ sold off yesterday. then it quickly recovered. One of the main things that I was focused on is again the Market's been finding any reason to to recover the Bulls are bullet.

There's no reason to like sugarcoat it. It was a really strong performing month for the month of November the best one of 2023 so it doesn't surpris me that again. During the pre-market session we established a support of 383. we tried to Rally we got rejected.

We came back to retest right when the market opened. We never made progress below. So if the market isn't selling off more, why would I want to enter Sqqq right? So if there's no continuous signs of progress and it's beginning to show signs of a support, then maybe it's Tqq that we want to pay attention to and maybe lock in profits on Asiki. Well, we quickly began to see a change of direction.

We broke above the moving average, broke above the EMA line and made higher highs and higher lows. It wasn't perfect, but again, it really began to pick up when we broke above 386 and pushed up, pulled on back, but overall still above moving average, still above VMA No reason to sugarcoat it. So right now on Tqqq now, it's up 1.4% on the day when it started 1.4% in the red today, so that is now a change of 3% The beautiful thing about this is that if the market does end up peaking and guess what, we have Skq and this is the beautiful thing about stained cash. When you wait and give the market the time that it needs to paint its picture for the day, you allow an opportunity to really present itself.

So I don't know if this is the bottom and I don't have to know, right? I can wait for confirmation, but if it were now, instead of trading one one and a half margins from overall lows to highs, now it offers 3.5% Again, I'm allowing an opportunity to present itself. Not that this trade has to go according to plan today. I'm not opening the trade right, but if I wait for confirmation if it begins to indicate signs of reversal. This is the beautiful thing about giving the market the time that it needs to paint its picture for the day.

One thing that I quickly want to show you is on, um, the 30 minute time frame. You should be able to see it. Um, we've been seeing a lot of consolidation now we're coming back up to retest the moving average. Um, we need to be aware that because of the series of economic reports that are bound to be released this upcoming week, we cannot be surprised if we break above this and the market just tries to have this like Santa Claus rally that a lot of people talk about.

If you guys haven't heard of it, heard of it, it's just like a rally towards the end of the year that sometimes the market experiences. It's not that it has to, it just means that it possibly can. One thing that I really wanted to share with you is that there's been a lot of analysts that just have been expecting the market to trade sideways. As you can imagine for the past two weeks, the Market's literally just been trading sideways.

If anything, it's been making new lows, but really sideways. This is something that you should be aware of because if it continues to trade sideways, then again, you can better enter and exit these series of Trades that you choose to take. the series of economic reports that were released today. you guys can see the Stock Market News today.

Uh US Stock Market Mix as Fresh Job. Um, data shows slowing of labor market. So what they're talking about is the economic reports that were released. We live streamed it during today's uh, live trading session with the Lpp team.

The big one was the job openings. We can see that based off of the prior reporting, we saw 9.35 million, right? This reporting was 8.77 3 million. So significantly Less Almost 1 million less. So this means less jobs are being opened.

Which means again, a potential slowdown in our labor market. Now why is that a good thing? Do you guys remember when we talked about that, you know bad news is good new news and good news is bad news. It looks like it's going back to that. The reason that if the labor market is slowing down meaning Less jobs are being created Less jobs are opened.

This means that again, maybe our labor market is slowing down. Therefore, the Federal Reserve doesn't have to raise interest rates to slow down the economy even more so. Therefore, they have less of a reason to raise interest rates. That is the reason the market in a sense can justify going up today because it's less likely that the Federal Reserve will have to raise rates to slow down the economy, therefore slowing down the labor market.

I Just wanted you to understand kind of the domino effect of what these economic reports and how they influence the overall market. So if you have any questions whatsoever, please please please do not hesitate to ask. One thing that I do want to remind you is that you will never be a perfect Trader Not me, not you, not anyone. Your entries and exits should make sense and at one point once the market becomes overbought for that given day, If you went in for a day trade, please make sure you ask yourself at what point am I going to sell just have an exit plan in place either either a price Target or a stop loss trailing stop loss.

So you lock in profits and you end up in the green and that's the biggest thing I Would hate for you to go from a green trade to a red trade because of your inability to think and plan for in advance to be able to lock in profits in case the market does end up changing direction. Just feed it into yourself. You will never be perfect and that's okay. Your job is not to be perfect.

Your job is to enter and to exit a stock successfully where it makes sense to you. So if you have any questions, shoot me a DM I Hope to see you for tomorrow's live trading session and that's the second link in the description down below. Like always, let's make sure that we end the year on a green note. Take Care Team!.