(URGENT) Inflation Report Tomorrow...

so there's an economic report you're going to want to pay attention to and it gets released 1 hour before the Market opens what's going on guys it's Ricky here with a super quick market update just something to pay attention to that could add potentially more to this current selling pressure that we' seen after envidia already exceeded Market's expectation we started to see a pullback and you guys like I said in today's earlier video you guys know that I like talking crap on Nvidia just because I viewed it to be overhyped up nonetheless the Nvidia earnings was not bad by any means it actually came out better than what was expected and its guidance was better than what was expected maybe the bar was just set too high and that's why Wall Street is simply pulling on back now right now we're testing a major support right around 115 per share this is really important because tomorrow 1 hour before the Market opens there's going to be an economic report that the Federal Reserve really pays attention to it's one of the Federal Reserves favorite way to be able to gauge inflation that is known as the pce report especially core pce please make sure you do some due diligence to have a better understanding of what it is we have an overall expectation based off of the previous of 2.6 we expect it to be 2.6 I'm sorry 2.5 was the previous 2.6 is the forecast for what's to be to be uh released tomorrow and then core pce previous is 2.6 forecast is 2.7 so overall 1 hour before the Market opens if you see a quick change of direction do not be surprised if it's most likely going to be because of the pce report we've seen it time and time again where again um we were really trying to pay attention to the pce report to better determine if the Federal Reserve was going to be cutting interest rates I read a series of Articles right before this video and what I've understood is that this PC report that's going to be released tomorrow is really not going to influence or change much for the Federal Reserve the Federal Reserve has shown to be very dovish they are ready to cut interest rates uh as soon as September 18th 2024 with that being said this is kind of just to reassure that yes the Federal Reserve is moving in the right direction so we will see if it will actually impact the market as much as it has in the past before other than that I'm taking what we are currently seeing or taking the market Day by Day based off of what we are currently seeing you guys could see right now with the NASDAQ Market we recently pulled on back we're testing this support range and we will see if we continue to see some more selling pressure to retrace back to previous lows of 430 and or for NVIDIA breaking lows of 115 and if we break below that working our way back down to 100 or maybe even $90 per share with that being said if we hold strong and we begin to indicate signs of recovery the previous resistance is right around $130 per share so I plugged it into my risk to reward ratio calculator just because again I like to have a better understanding of well what happens if I just choose to go with the bulls If We Hold above 115 and it begins to indicate signs of an uptrend at 117 how much money could I make if I sell at 130 again 131 being the previous resistance and definitely not all-time highs if I were to go in with $100,000 which is about onethird of what I normally trade with at 17 with an exit of 130 and a cut losses of 114 because the previous support is at 115 so giving giving myself some cushion it has a risk to reward ratio of 4.33 which definitely meets my criteria and with at least 900 shares about $105,000 I could potentially make $1,000 or I could potentially lose 2700 according to this specific trade plan so again that's if I cut losses at a break of pattern and as long as it continues to hold and work its way back up to 130 then I can walk away with $1,000 in the green just like many of you guys saw today if you're part of my lpp team we took a series of really good trades and that is just working with the market I want to see if the market is truly going to choose a Direction either sell off or actually begin to recover or if we're just going to continue to consolidate if the market continues to consolidate and you don't really see it showing much signs of progress on the upside or on the downside for those that are under the PDT rule or maybe those that are beginners that are trying to be more selective it might not be the worst idea to hold back stay cash and wait for direction to be more clear for those that have a little bit more experience that like to take advantage of intraday opportunities then again we'll talk about it in a little bit more detail in my live trading session tomorrow and if you want to tune on in that's going to be the second link in the description down below I want to remind you lpp 3.0 will be coming out in September 1st so in just a few days and if you want to reserve your spot it's the first link in the description down below and if you're part of lpp 2.0 yes you do get access to lpp 3.0 at no additional charge but you do have to reserve your spot to be weight listed to get Early Access and be part of our beta test group if you want to be a part of that first link in the description down below and if you want to sign up to get grandfathered in right now is the best time before prices go up on September 1st get access second link in the description down below if you sign up right now you'll get access to lpp 3.0 once it comes out as well at a much cheaper price if you sign up right now so I appreciate your time like always let's make sure that we end the year on a green note take care team