Why is the stock market dropping once you're on team? It's Ricky here with Taco delusions here with a super Quick stock Market Update: If you guys tuned on into our live stream, we actually live streamed it because you absolutely killed it in yesterday's video. I asked you if you wanted me to go Live for the Job report to drop a thumbs up. We had over 1800 people drop a thumbs up. so I just wanted to say thank you.

Hope that I earned your thumbs up on this video as well. And also, please make sure that you subscribe for quick stock market update. So why is the market dropping? It was the job report, but it actually wasn't even the job report that sent the market free-falling Uh, it was actually the non-farm payrolls. These actually came in much higher than expected.

The expectation was 200k for each one. Non-farm payrolls came in at 263k. Very a huge difference, right? The prior month was 284. they expected 200.

this one came in 263k. Now again, it would have been better if we would have seen it be less than 200k. But because they came in higher than expected, that's not a good thing. Non-farm private payrolls came in at 221k.

A little bit better. but again, the expectation was 200k versus the prior of 248k. Now, where was the Unemployment report? The unemployment report was at 3.7 with the expectation of 3.7 so that was kind of just neutral, right? The average hourly earnings? the expectation was 3 or 0.3 percent and the result or the actual was actually twice as much. And it's 0.6 percent.

The average work week had an expectation of 34.5 but it actually was reported at 34.4 But of course that has a lot of an influence just like the average hourly earnings. So again, that is exactly why we saw the market aggressively sell off. This is the NASDAQ ETF and you can see that instant reaction. But in comparison to the FED speech, do you guys remember two days ago? Jerome Powell Smoke.

Uh, who's the head of the Federal Reserve And during that speech, the market was rising. and it didn't just rise for a short period of time, it continued to rise Right. there was momentum and it continued to indicate signs of an uptrend. It was very easy to see that once this report was released, it showed signs of a support right away.

and then it began to recover. And looking at where we're at right now from being down I think it was like two and a half percent to now only being down one percent on the NASDAQ Market That's not a bad, you know, a bad recovery. It's literally one hour into the market open now. I Want to share with you my plan.

So I Just finished our live trading session with the Learn Plan Profit Team and here is the plan right again the goal is never to copy me. I'm just sharing with you my why of why I'm going to buy if it breaks above this or why I'm going to buy if it breaks below this. So I can always short the market if the market continues to sell off. I can go along with the market if the market begins to indicate signs of an option, but a very strong resistance level.

and I told them about this during our live session. There's this moving average. Anytime that you are trading below the moving average, either on the one minute or the five minute, it becomes more difficult or more challenging to actually higher high. So you can see that right now it's acting as a resistance level.

So why would I enter a position in QQQ or in Tqq when it's not really even indicating any signs of an uptrend. A very simple question to always ask yourself is are you missing out by not being invested? If we get rejected by this and we begin to sell off and we make new lows, then I can consider the idea of shorting the market if the market actually progressively makes lower lows and lower highs. Remember I'm not just looking for a break above the moving average or a break below previous lows, right? I'm looking for progression I Want momentum to be in my favor I Want to feel like I am missing out by not being invested and a nice little push and then a rejection does not make me feel that way, right. We need to see progression and continuous progression if we don't see that overall reversal or we don't see that overall rejection, then again, a best or a good position to be in is even just being cash right? There's nothing wrong with not taking a position if direction is unclear.

Any open position is a risky position and the quicker that you understand that, the quicker that you respect that, the better off you will be right. The goal is always to build healthy habits not to try to be right 100 of the time. So I appreciate your time. Just wanted to provide you guys with a super quick stock market update and understanding why exactly the market sold off.

but it looks like based off of again what Jerome Powell said in that speech um what was it two days ago? Market Isn't being influenced? too bad about it because of the expectation for the month of December in the interest rate hike to be lower than the previous interest rate from 0.75 percent to now point five percent. So I'm very excited to follow up. There's a lot of economic reports set for next week and also the Federal Reserve um I'll I'll just keep you guys up to date Again, all you guys have to do is follow me here on YouTube Make sure that you guys subscribe, Drop a thumbs up and I will do the rest and making sure that you are kept up to date with everything. That is That the stock market has to offer.

Don't forget to follow me or message me on Instagram If you have any questions, then it's going to be that third link in the the description down below and if you're ready to join our team, I offer a 150 off sale and you can watch me trade live every single day. It's a one-time payment lifetime access and that's going to be that second link in the description. If you have any trading related questions, shoot me a direct message via Discord and that's that first link in the description. If you want any trading mouse pads or trading gear for your trading setup, that's going to be that fourth link down below.

and I am using the Weeble trading platform. It's free for everyone in the US and that's that fifth Link in the description if you want to receive free stuff. So when you simply deposit one dollar like always, let's make sure that we're in the year. On a green note, take an easy team.