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We kind of know this, but again when you look at life from a point of you know just living life like yesterday was one of my more prouder moments just as a parent and I never I've always said this you know happiness as much as everybody talks about you want to have the money and you want to have the stability and you want to have the foundation but there's so many little moments in life that are made to you know to really grasp to you know to really enjoy and embrace and I don't think I've ever been really realized what happiness was until I had my children around you know eleven and a half years ago when my son was born and yes it was one of my most um I would say happiest moments. I've seen what my son started doing take one don't worry guys who've been following me for a long time you kind of know how deep as a family we are in the sport but um he started three years old and yesterday he's eleven and a half now and he finally got his black belt and this is eight years in the making and as much as we enjoy the idea of you know having success and you know it all starts out with little memories and for me just for me speaking personally I don't care what the market does okay I've been doing this nearly now 20 years it could go up it could go down the most important part for me is my children is my wife is my family is my happiness and the market should never define your happiness it should never define your self-worth it should never define anything just remember the stock market is there and it's going to be there okay it was there a long time ago before a lot of us were born and it's going to be around a long time um after a long lot of us have begun and the market is not very creative and this is kind of where we want to kind of start the morning uh with you know again if you've been following me on youtube especially on the youtube channel not even on twitter but the youtube channel on this weekly kind of videos you know how everything is broken down into steps okay there's no such thing as leaps and bounds everything is baby steps you cannot ever put the cart in front of the horse and the one thing that i keep on saying over and over again especially to new traders who are just starting out with the idea of technical analysis the one piece of advice i will always give to a new trader is just understand one thing the market is not trying to trick you okay i i'm telling you this is the day as long the market is there strictly to take your money the worst enemy you have is yourself your eyeballs okay are the leading indicator okay i don't care about pitchforks mag these v-wops thibonaches whatever you're trading okay your eyeballs are the most important technical data collection services on the planet and when you look at what the market has done ever since we started talking about this double top here about two and a half months ago you could see that everything is playing out visually okay forget about technically forget about macro everything is playing out visually from the time that we held the bottom levels to trade it to supply levels held the bottom levels traded to supply levels and i started doing kind of like a one to two minute midday update i don't do it every day on twitter but i do it like one or you know one or two minutes it's not really a lot of a lot of content but i try to share my thoughts you know basic thoughts within that one or two minute cycle or what the market is going is probably going to do next based on technical analysis that we're seeing and if you look at the simplicity of basic basic technical analysis now that it's played out right now that it's played out again we've been talking about what potentially could happen now so it shouldn't be especially for you guys who are following me on stocktwits or youtube especially youtube twitter on a daily basis you kind of see my thought process so when this is playing out i'm not shocked because what we're doing is collecting data and positioning ourselves in the process so when we talked about how important it was that the cues failed to reclaim the 173 level this was a big deal when we talked about in the you know one or two minute video that i recorded the following day how it's important for the market for the nasaq 100 proxy to qq cues to hold that five you know that five-day moving average right that was important you could see how big the market moved down you know maybe you know 15 20 minutes after this video and again i have nothing to do with that move there's no there's no credit being taken it's just basic technical analysis what potentially could happen next and having it play out so friday you know thursday into friday session was really a very very important cog and what we're going to see happen next so friday we had this really aggressive decline if you guys remember uh first of all we had that 800 point decline on it was on thursday right no excuse me it was on tuesday okay so wednesday we had off because of the observation of george bush's funeral right so when the market opened up the next day okay the downwind down like it was also down it was pretty pretty heavy mounting five six seven hundred points whatever it was and the one thing that the bulls did going into friday's session we'll talk about that in a second they really could have bought themselves some time and here's what i'm talking about so if you look at if you look at the session from third from thursday right so we had a 700 point rally pretty much off the bottom in the nasdaq composite at some point i think went green okay and the downwind from down 700 points to being down 70 points and the next day all i kept on saying was the next day how unless the market comes out with some really aggressive macro news we should get a follow through okay we should really get a follow through the key is to reclaim the previous day's highs okay which was right over here the previous day's highs and build off those highs so naturally what does the market do after a 700 point intraday decline naturally it opens up down features open down like 130 140 points in the doubt the problem with the bear case on that situation on that opening was if you looked at the beta names again my my universe is literally 10 stocks if all you guys have been following a long time i just trade these pretty much same stocks in day in day out not every 10 of them but you kind of get my point and the one thing that i saw pre-market netflix was down like a dollar 50 amazon was down like four tesla was up the video was down like 80 cents so you knew right there and i even tweeted that out you knew right there that listen the dow's down 130 140 points pre-market and amazon is only down three four points you know it's coming right you know it's coming and the and what happened was instantly the market opens up sellers got trapped or even shorter is early shorts of the day got trapped at the bottom channel and we started spiking up right we started spiking up and this is the level that i said the bulls needed to reclaim okay we talked about on the nightly video the previous the previous night i even tweeted about it they had to reclaim the 167 level and build and this is where the bulls really really dropped the ball amazon explodes goes up like 15 points or so tesla has a run netflix has a run we'll talk we'll show you guys the pivots that we put in into the into the channel so they had their runs right tesla had a nice move netflix had a nice move amazon explodes blah blah right the green all that good stuff so everything is good the problem was what we talked about from the technical point of view the cues could not absolutely not reclaim that 167 level they traded there for like a minute or so and then next thing you know they completely crapped out and again when we talk about supply this is supply right this is supply and next thing you know the market just absolutely imploded and again if you go back to the most pure basic points of technical analysis just using your eyeballs right guys we talked about rally off the bottom hit supply faded rally off the bottom hit supply faded rally off the bottom hit supply and right here if you guys remember to be determined well it's not predetermined it's not to be determined anymore we sold right we sold and the question is now are we going to retest these levels here again use your eyeballs okay forget about our size and mac d's and finacis and the ps60 theory and forget about everything else use your eyeballs okay use your eyeballs if you had again and again you could take you could turn to a three-year-old literally and say well where do you think the next one of these pretty little candles going to go chances than not just using their eyeballs they're gonna probably say it's going to go lower right and the most basic thing we could do is trust right is trust we can't trust our own eyeballs well what's the point you know what's the point of doing the whole thing so the bias has to be to the downside and the fact that if you look at the 60 minute channels the the really really aggressive nature and again if you go through every single stock i mean there was no i mean there were no buyers in sight from the time that amazon gapped up and traded to this like 720 at 1720 level and obviously couldn't confirm i mean look at the sell-off i mean you talk about a hundred point sell-off within several hours like nothing i mean netflix i mean there was an i don't think there was an uptick okay i literally don't think it was an uptick in the video it wasn't even an uptick so very very aggressive sellers and the question on friday especially in the afternoon is who is possibly going to be long over the weekend okay or even better who's going to be there on monday defending prices because remember if you've been following me a long time you kind of know the idea of buy the dip right right buy the dip theory only exists in a bull market and that's a fact it's it's not a theory it's not room for interpretation the idea of buy the dip is a bull market slang okay it's a bull market slang that aggressive permables they make fun of bears but again if you look at how the market structures keep in mind if you if you're a professional trader you know the bears been winning just as much as the bulls been winning the bears been winning and it didn't start out in the last two months off the double top there's so many opportunities especially on very very specific names in groups that have been really sell bias for a long time look at the financials right just look at the financials look at the periods within the year okay just look at the periods within the year how weak beta has been within those times and you could have done incredibly well just picking and choosing members of the tribe to selectively sell or short based on technical confirmations of chattels so the permable that quote unquote bears never learn well again you're pretty much showing the world how insignificant your idea of trading is and how novice of a trader you really are if you ask any professional traders both sides of the ledger have been doing very very well so going into next week again it's going to be very very hard to convince the retail investor that hey by the way it's all good buy the dip the Santa Claus rally is there buy the dip the January effect will spill over the first quarter buy the dip and when you look at the indexes just an index is that they really paint a really ugly picture nearly five percent losses all across the board and nearly five percent losses just a tad under on all the major indexes and the question is okay are we going to retest these laws especially on the QQQs are we going to test these laws and look at the spread right look at the absolute spread here from the 61 level that we are right now all the way down to the 57 level and the lows from November the 20th of 157 13 so there's room this room there is a spread and I think that the major problem especially with a lot of retail investors and again as some of you guys unfortunately like I say all the time the only exposure to trading you have is on social media okay I mean unfortunately I get the days of people sitting on a trading desk with 20 30 other guys you know developing relationships developing the habits whether they're good or bad we don't know that personal touch is over okay there's not a lot of major desks left especially in the prop industry that will let you play or let you test the limits that used to be you know 10 15 years ago so your only exposure on social media and the only thing you are seeing on social media is well cash is a position sit on hands yeah it all sounds fine and dandy if you don't if you don't trade full time okay if you have another business then yeah you can pick and choose and that's great but if you're a professional trader and this is your only source of income I'd like you to to you know explain to Bank of America that it's a bear market that you have to sit on your hands you can't write out a mortgage it's gonna be very very tough so it's very very important guys to really understand God gave you two eyes two ears okay it's very very important to understand that you can trade both sides of the market I apologize I have something stuck on my throat I've been fighting an illness for like two three days if you look at a Friday session and please bear with me with me so these are the pivots we put into what you're looking right now in our private stock tweets feed these are all the pivots guys like I say every single week we don't pick and choose you know we don't pick and choose to show people these are the pivots okay these are the pivots whether they confirm or not confirms a whole different story but again the idea of having a process in any single market is the most important thing so if you look at Friday's session and again you kind of scroll down here you know here's kind of from the night before we talked about it and just been fighting an illness if you look at from the night before these were the pivots these are the two really really exploded you had Boeing taking off you had Boeing taking off from that 334 level put up like a $3 candle you saw what Tesla did forget about the 74 and a half Tesla just went nuts Tesla went completely nuts put up a 78 candle this was the most important part again this is where technical analysis played the role you had 167 build important again they never built they never built and that was the most important part from the bullish case so they couldn't reclaim Roku I believe gave like a 2037 move again when the market pulled everything pulled right with it AVGO it never it never became close to even touching that level and Amazon this is the pre-market high of 1720s obviously never never confirmed as well that even came close and obviously this is where you see Tesla rocket Boeing rocket and there's and here I think that was the end of it off the Twitter feed and then later in the day here's where again where technical analysis comes in 167 77 years is low any close below that it's a waterfall effect all the way down to the 140 level again you sold the cues in again I apologize for my throat they went down like 40 50 handles a 40 50 cents and I think that was it I think we were also looking for a setup above Tesla that never really confirmed and that is it so what I made for what I made for tomorrow and I want to share with all you guys these are all levels okay these are all levels that if they confirm for this week okay you see the cues the spies Netflix Amazon Google Nvidia Apple Boeing Alibaba especially for the option players okay if they start building below those levels what I did was right next to them put a potential measured move now these would be the lower ends of these channels now they start confirming these levels to the left it's a very very good chance based on technical analysis we just talked about we'll probably test these levels as well okay very very important to understand the one thing about technical analysis and what's great about the pivots right the ps60 process is nobody needs to be in these trades with you and I've said this time and time again unfortunately again getting back to the whole social media thing there's so many quote unquote alert services and again your only exposure is to quote unquote alerts small caps this that the other thing and you need a thousand people to push a stock up a dime right it's reality okay you can tell me know you can tell me it's reality we all know that's what it is the greatest thing about trading technical analysis and trading real stocks nobody needs to be in the stock room okay you don't need to rely on anybody you don't need to wait for anybody to give you the green light all you need to do is trust confirmation stay patient and because again there's only for us six candles in the day that gets rid of your emotional commitment that gets rid of your case of FOMO right fear of missing out we know the top of the channel we know the bottom of the channel we know the mid-tier channel which we call the sneaky pivots and all we need these things to confirm so perfect example like I logged off I logged off on Friday around two o'clock again I was just I was just fighting some sort of bug for like the whole week I mean I was really in bad shape as you can hear by my voice and you choke I'm not in a greater shape now at least I'm getting better but I was sick and I'm still you know I'm still under the weather and here's a perfect example that I tweeted out I didn't even take this trade right I had nothing to do with this trade I know I got a lot of feedback after hey great call okay it's not about the call it's about you trading the stock and that's the whole point unfortunately that's social media a lot of new trades and social media again it's not about being cold it's not about being right it's about you adopting a process and I don't care if it's my process your process whatever the case may be it's just trusting the process waiting patiently for confirmation and clicking the mouse with extreme prejudice and again perfect example I had nothing to do with this trade I wasn't involved with this trade 1652 lining the sand here it is right it stopped right at the linear regression line any build below that right the stock to collapse look at and again look at Amazon again had nothing to do with me okay it doesn't make a difference again right here it is it doesn't make a difference who's in the trade with you right you me the pope your friend right doesn't make a difference right it's either going to go where it's not going to go and you know you're talking about a $30 candle again for all you guys who got it congratulations so going into this week I'm going to cut this a little bit short because again I'm just it's hard for me to talk going into this week depending how the market opens up if we open up green then that's a perfect world because I'm flat over the weekend I don't have a single position if we open up green then yes everything's on watch green thread right any any of your favorite stocks on watch green thread I follow you option players and again I put this into the channel and I even tweeted this out for you guys who follow me on Twitter I put the levels in on my Twitter account where am I where am I where am I I put the levels in there I put the levels in my on my Twitter account so you guys could use this you know kind of play you know kind of make your make your plan for this week but these are the levels okay so if we open up green and we start confirming Friday's lows okay we should go we should go lower if we gap down okay obviously we're going to watch for opening range lows as well again guys it's only scary if you don't have a process okay am I right every single trade of course I'm I right every single day of course not but again I understand what's in front of me I understand how to tear up tear down based on market conditions but there's a lot of really really good opportunities most days and all you need to do is just wait for it so guys I appreciate the love appreciate the feedback it's phenomenal when good traders good people come together with one common goal okay and all we're trying to do is get better like I say this all the time even though I'm doing this nearly 20 years I'm as flawed as everybody okay I'm as flawed as any other trader the only difference what is it's easier for me to hide my flaws because I'm almost 20 years in that's screen time that I the difference between a guy who's been trading for 20 weeks or a guy like me who's been trading nearly 20 years I know how to overcome my flaws it's easier for me to omit so it's much easier for me to forget and move forward than somebody who's been trading for a very limited time but all of us guys okay anybody who's been trading for 20 minutes 20 weeks or 20 years will tell you we are all still a work in progress so don't you know that's why guys don't ever be upset that you're not progressing as fast as the next you know next door trader your next door whatever the case may be everybody's progressive nature it comes at a different interval okay some guys get it after two weeks some guys get it after two years some guys never get it okay and that's just the reality I don't care what process you know you're trading some guys will just will never get it and that's and that's part unfortunately of the reality okay I don't sell fantasy I sell reality but when it clicks and again I don't care what process you trade when it clicks it really does click incredibly hard guys God bless everybody I love you all and with God's help I'll see you all in the field tomorrow take care guys have a great great week