Trump's Statement Just Crashed the S&P 500 | Here's Why

A very sad day for the overall market. What's going on guys? It's Ricky with TechButt Solutions and we are currently receiving updates that things can actually get a lot worse. Overall Nasdaq market as of right now is down 2%. It looks like it's about to break its support and go back down to retest previous lows. With that being said, that would put us closer to about 2.25 to 2 and 1/2%. Why is there so much fear in the market going on right now? Well, first, breaking President Trump says that he will hold Iran responsible for strikes conducted by Yemen's. With that being said, he also just announced that he is close to a decision on a massive attack on Iran. Details, President Trump says that we are all set and regarding the attack which has been hinting at for weeks. President Trump says that the attack will be bigger than ever before. He has said that before. President Trump said that Israel will join in 2 minutes if I asked them to, but added, "We don't need anybody. They haven't signed They haven't received enough pain yet." Now, normally, again, just picking up on patterns, he normally has these kinds of threats before a peace deal. I hope that it's the same thing. I'm sure that we can all agree that we don't want any further attacks or further escalations, but because of these threats, of course, oil prices are rising. This is not going to be good for our current rate of inflation and this is why we're seeing markets aggressively retrace. Remember, inflation was reported to be coming down and that was after the ceasefire. After the ceasefire ended and the attacks began to happen, the Strait of Hormuz remained closed. Oil prices have began to tick back up. They are up 42% in 20 days. Again, a great investment for those that bought the dip, but now we might be reaching overbought levels and I would be very careful for these fake outs that Trump has hinted on before. Again, overall Nasdaq market has extended its losses at one point being down 2 and 1/2% on the day as Iran war escalated and technology stocks drop on earning results. So, what exactly are they talking about? Well, Tesla, in my opinion, reported terrible earnings. Yes, the revenue was greater. There's all these specific metrics that bag holders Tesla investors are trying to point out, but I want to remind you their bottom line is terrible. Razor-thin margins, they're not making any net profit any longer because they're no longer subsidized by the US government. With that being said, unfortunately, Google also sold off 6.5% and they killed their earnings, but the concern is is that they might be over investing into AI, right? And this is for the first time free cash flow goes negative for Google. And this is the first time ever in history. So, again, some uncertainty. Again, they might be over investing. The thing that I wanted to point out, I wanted to keep this super simple. I don't want to take too much of your guys' time. I shared it if you're part of my LPP team, and I shared it if you're part of my close friends group. Now, I'm sharing it with you guys. It's not rocket science, it's nothing special. This is the Nasdaq market, right? It's a composite a basket of some of the most valuable tech companies. Markets are still bullish. Although individual stocks might be down, overall markets are still bullish. As you can see, we've tested and held above this major support right around 685, but I want to give it some cushion, 680. As long as we hold above that range, markets can remain bullish. If we break that support, that's where I would really begin to get concerned. Cuz again, individual stocks might be down, but overall markets are still pretty elevated. If overall markets begin to break that support and truly begin to drop, that's where I believe more uncertainty, more negative sentiment, and more fear can really begin to spiral. It's more of when Nasdaq begins to drop around the 10% mark. We're right around 7 and 1/2%. Once we get closer to that 10% mark, again, the bear market or correction territory ideas begin to kind of pour into the market. Leverage traders begin to get liquidated and they might be forced to sell. I'm not instilling fear in you. I'm just making you aware. Markets haven't broken the support, so there's no reason to freak out. But, this is a support to pay attention to. As long as we remain above, markets are bullish. It makes sense on why people are buying the dip into good quality companies they believe in. That might be Tesla for you, that might be Google for you. Shoot, that might even be some of the semi or chip stocks that recently dropped 25 to 30%. But, if this support breaks, then just be ready cuz if overall markets begin to drop, then so will those individual stocks. That being said, some good performing stocks today, although overall markets are in the red, chip stocks are performing the best, in my opinion. You have Micron up 3 and 1/2% even while overall markets are down 2%. Very impressive. You have SMCI up 2% even after overall markets are in the red. NBI S, again, in my opinion, a little speculative, um but again, in the green. SanDisk up 4.2% even while markets are in the red. So, if markets do begin to recover, then these chip stocks are likely to recover even quicker. Remember, they're more speculative, therefore, they tend to overreact with the good, but also, unfortunately, with the bad. So, again, I'll do my part in keeping you up to date. I wanted to talk about the good and the bad, key and critical support levels for overall markets, just so we pay attention to it, set an alert, and again, I'll do my part in keeping you up to date. I do want to remind you that Intel, INTC, reports earnings today after the market closes. It is something that a lot of investors are going to be paying attention to as a lot of these tech companies, although they have reported fair earnings, they're not trading in the most positive way after they report. So, I do believe that it can be a catalyst for the rest of these memory and chip companies either act as a further positive or negative catalyst depending on what they report. I was thinking about live streaming today's earnings. You guys let me know down in the comment section if you would like me to. If this video gets over 500 likes an hour before we go live, then I'd be more than happy to do it. I appreciate you guys' time. I hope that you hit thumbs up and don't forget I trade live every morning with my LPP team. If you want to preview a previous live session before you join, you do that here. But if you're ready to join, again, we discount link. That's going to be the second link in the description down below. Make sure you enter that promo code as you can read and that will get you a discount once you sign up. And like we've said before, it's a one-time payment for lifetime access. We have members that signed up back in 2018. They paid once and they still get to watch me trade live today. It literally breaks down to like less than a dollar a day if you break it down, right? It's lifetime access. So, I appreciate you guys' time like always. Let's make sure that we end the year on a green note. Take care, team.