$440 Billion Wiped Out: Market Sell-Off Update

Happy Tuesday. What's going on, guys? It's Ricky with Tech Solutions. Here is a super quick market update for you guys. Overall NASDAQ market is currently down 1.5% and that's after a half point recovery. He has uh almost half a point 37 uh from overall lows of 71592 to now current highs of 719. It's been a descending pattern with lower highs, lower lows. Looks like sentiment is beginning to change. If you tuned on into our live trading session today with the LPP team, you know that again, we've been talking about the NASDAQ being a little elevated. It's been trading at these elevated levels, elevated levels for the past few days, really the past few weeks. That being said, again, all it took was one pullback. This is why we were saying be careful at these elevated levels because with one little pullback, it's now given back all it's t taken to gain for like the past week to week and a half. Again, there's nothing wrong with going long, but another great reason to not use leverage at overbought levels because this can be just the beginning, right? There's huge downside potential based off of current levels of 718 to current lows of to previous lows of 657. With that being said, market does have some big movers, right? Coreweave, we've been watching this one core from lows of $59 to overall highs of nearly highs of 11750. We have now pulled on back to lows of $97 9640. It is down 9% on the day. We got Micron. Micron was just yesterday trading at highs of30. A lot of people were getting very excited. Again, I I wish I didn't get home so late so I could have uploaded a video, but it would have been too late anyways because markets were closed. The idea was that markets have gapped up so much based off of what? False news, right? Markets were recovering because a peace deal or an agreement was supposed to be signed by Trump and Iran. None of that actually happened. Yet, it was only a matter of time for markets to correct. And again, we got that correction. As of today, Trump says that again there are no ongoing talks with Iran. The Hermuse Strait is open and operating. But again, the market refuses to believe this. $440 billion has been wiped from the market and rising bond yields are now putting pressure on the stock market. And you know that Trump always cares about the bond market. The US 30-year Treasury um or 30-year bond yield is has now just hit 5.33%, the highest level in 19 years. Again, 8% to 8.5% mortgages are right around the corner. There is no surprise that based off of the report that we received this morning, if you guys did not check it out, let me go ahead and refresh it here. If you guys look at the economic calendar and based off of what was released today, we can see here that if I'm not mistaken, yeah, the housing starts came in much lower than what was expected. And again, there's no reason to be surprised, right? It makes sense. With bond yields being higher, the 10-year Treasury is a benchmark for mortgages. And of course, mortgage rates are only going to get higher and higher as more uncertainty continues to inject itself in the market. Again, there's very big moves right now. If you look at Micron with a big gap up that it had, it has previous lows of 705 from current levels of right around 740 750 to previous lows 24 25% downside. NASDAQ market has huge downside based off of current levels. If market uncertainty continues to inject itself, then we have even lower lows 8.5%. And we all know that if the overall market begins to sell off, everything that is trading at an irrational level or trading at a premium will begin to correct. One of the last things that I wanted to share with you is again things are escalating. Initial reports of Iran's IRGC or Yemen's I don't know how to pronounce that have launched ballistic missiles towards Dubai. UAE authorizes uh U. UAE authorities have detected missile threats with sirens and loud explosions in Dubai minutes ago. So again, it looks like we're back to square one, the whole deal, no deal fiasco, and markets are not liking it. The really funny thing about this is that all this was unfolding last week, yet everyone was ignoring it. And this is why again our LPP team, we reminded them market direction and market sentiment is bullish right now. But again, be paying close attention to how quickly sentiment shifts with no actual update on any new news. Everything it is that we are currently experiencing right now was already something that was already factored in and or being announced last week. And remember, tomorrow we have the FOMC Fed minutes report that's going to be at 2 p.m. Eastern time. So another thing to look out for that can influence the overall market. So, what we're looking for right here is progress. We're seeing a lot of consolidation. Are we going to begin to gap up or are we going to begin to gap down? Based off of that, then you can better determine, does it make sense to go long or does it make sense to short? If markets are trading sideways and you're uncertain, then one of the best positions that you can be in is cash. If you're looking to trade, right? When uncertain, it's better to not have any skin in the game than to force something and later end up regretting. Let's wait for confirmation. Let's be calculated. Let's take advantage of opportunities once they present themselves. But again, direction and sentiment are so important. And it looks like finally we are seeing some signs of weakness. So, I'll do my part in continuously keeping you guys up to date. If you guys have any questions, feel free to comment down below. Again, if you ever want to tune on into our live sessions or if you want to rewatch today's live session where they saw me make a little bit over 3K as we shorted Micron, that's going to be the second link in the description down below. And again, there is a little sale going on for you, so you'll get it at a discount. Onetime payment, lifetime access. You can sign up today and start watching me trade live as soon as tomorrow. I appreciate you guys' time. Like always, let's make sure that we end the year on a green note. Take care team.