 Well, do the bulls, again, negate bad news? Do they come back, do the buyers come back and take Microsoft green? Do they take Google green? Welcome to Access a Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. Here's Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good evening everybody. Welcome to another edition of the Access a Trader.com nightly wrap up show. Hope everybody is doing well. Again, market continues to digest earnings. Obviously technology really kicked off with Netflix with IBM last week. And today we started kicking off like the really big heavyweights. Not nothing that obviously taken away from Netflix or IBM, but Microsoft, Google, Chipotle, they were definitely the bigger stars on the stage. We'll get to them in a second. But overall, kind of what we discussed last night, bulls first close over this 277, 278 level on the Qs. If you watched last night's video, we talked about a measure potential to this 283, 284 level. As you can see, bulls did their job. Very, very impressive as we continue to note in kind of detail that every single day up to the last few days, the bulls did an incredibly good job digesting bad news and kind of discarding bad news to the side. And here we are. Now the question is, can they continue? If you guys remember last quarter, that was a really big run, really, really tremendous run in the market during the earnings season. And both Google and Microsoft, you guys recall, they both missed their top and bottom line results. But the fact that we were above the 50-day moving average, the market just didn't really care. It was more about the sentiment. So unless the company used the word bankruptcy at that time because the selling was so aggressive for the previous three, four months, they just negated every single bad news and the market went higher and those stocks went higher. Well, this was a little bit of a different picture today. So you had Google and Microsoft come out with earnings, you know, as you could imagine, they weren't gonna be great. But I don't think any stock that reported yesterday, today, tomorrow, and next Thursday is going to report great earnings based on the macro effect. Everybody understands the economy is not where they want. Everybody gets that. But I think a lot of companies are definitely getting this mulligan. A lot of the semiconductors, everybody knows the supply chain issues. Everybody gets it, right? But it all depends when and where they're reporting a lot. It's sometimes, it's so subjective when you look at one earnings report or another. For example, you look at LAM research, right? LAM research came out, LRCX came out a few days ago, had a really, really big run. Texas Instruments in the same group doing exactly the same thing, been a long, long, down, been around longer, stock is getting hit, right? Stock is getting absolutely hit. You look, for example, names, you know, like Microsoft, right? Microsoft, you knew they were gonna have a soft quarter but the cloud space is kind of frowned upon. You look at Microsoft after the close, it's getting hit. Not exactly the same thing as last quarter, for them, you know, fighting back going green and really, really started taking the market rally back up. You look at Google, for example, right? Same thing happened last quarter. You had, you know, they missed the top, missed the bottom but what's different, right? What is actually different? And that's the point. There's nothing different. When you missed top and bottom, the previous quarter and you missed top and bottom, this quarter, it really does show you, and this is kind of the whole point, it really does show you how earnings are a crapshoot. We don't know, nobody knows. You could have the earnings right in front of you, right? And they could tell you, this is exactly what we did. We missed on top, we modded. Maybe they rally, maybe you don't. And again, this is why when people bet into earnings, they're literally taking shots. The same way you would bet on a basketball game, a football game, you don't know, right? Nobody knows. And this is why this is the greatest reality show that's not on television. It's so unpredictable. When you look at the majority of other names that are reported this evening, you kind of get the same thing. You got Spotify, again, ad space, slowing down as you could possibly imagine. The big winner continues to be Chipotle, right? It feels like Chipotle really does beat every quarter. It really does. It's starting to feel that way. People love the burritos. I personally like other places better. Well, at least when I ate Mexican, like this is a great place by us in New Jersey called Tito's Burritos. I think it's a chain in New Jersey, really good place, but compared to Chipotle, this is faster. You could put lipstick on a pig. It is a pig, but hey, the people I've spoken, the stock is definitely surging after hours. So the big test for the bulls tomorrow. And again, we approached six week highs today, right? Both on the QQQs, both on the SPYs, right? Testing the 50 day moving average. And the big winner today was the Russell, the IWM. It was surging to the 50 day moving average. Now the question is, and this is kind of where we're gonna get a lot more clues. Well, do the bulls, again, negate bad news? Did they come back? Did the buyers come back and take Microsoft Green? Did they take Google Green? Texas Instruments, nobody really, it's not gonna be a bell, whether if the market dies or lives based on their earnings, but it's gonna be very, very curious to see if the bulls come back. Because if they don't come back, at least now we have a reference point where they got rejected off supply. As you can see, IWM in the 50, so the bulls want to reclaim and go higher. The IWM needs to get above 179. If the SPYs wants to go higher, right? The SPYs wants to go higher. We need to reclaim the 50 day moving average, which is roughly, which is roughly 386, right? 386 on the close as well. And the QQQ, which had a beautiful move, beautiful measure potential move, stopped exactly where we talked about last night in the video 83, 84. Now it just needs to get above this 85 area so it could start moving back to the 50 day moving average. We're obviously going to get a lot more clues tomorrow during the regular session. And we're gonna get a lot more clues tomorrow and Thursday because you're gonna get some very, very aggressive earnings out. Tomorrow you got Metta, you got Boeing, you got TDOC, NOW, another software name, Allogen, Biotech, Seagate. So you have a good amount, but Thursday is definitely gonna be the big one that's gonna pretty much determine where our future for the technology names are going to be for the foreseeable future. You got Shopify, Amazon, Apple, Intel. You got Gilead, Pinterest, McDonald's, Caterpillar, again, a lot of exposure. In China, First Solar, Merck, Philip Morris. So you could see where the predominant members for the S&P 500 are reporting and are reporting some pretty mixed results this week. We'll see, right? We'll see what happens. But tomorrow, again, you'd like to at least give the bulls the benefit of the doubt, right? Just because the market's been so strong, but again, we're not naive. And I say this every single day, keep this in mind, every rally, just like we did here, just like we did here, and now we're doing here. All this is happening below the 50-day moving average. We get above, right? Above 290 on the close, 289 on the close. Then the dynamics of every single update completely changes because again, remember the old rule, above the 50-day moving average, positive, right? Below the 50-day moving average, negative, for the most part, right? You obviously will have sell-offs, you'll have some rallies, but predominant action, you can see the predominant action is down with some glimpses of hope, predominant action down with glimpses of hope. And this is the opposite onto the upside. Predominant action is up, you have a little bit of decline. Predominant action up, a little bit of decline, so forth and so on. So that's it. The stage is set for tomorrow. You have, let's see how Google and Microsoft can potentially negate today's initial earnings reaction. And then tomorrow night, we have Meta followed by the Super Bowl of earnings. Very, very aggressive session today. The pivots were going just really, really, as you can imagine, NASDAQ everything else up 2% plus. We talked about ISRG last night. Again, it's not going to trade like Netflix, but again, it's a thin trader, but needs to confirm earnings for the next leg up. 221, 222 needs to build. ISRG went nuts, right? ISRG went nuts, took out the 221 area and just kept on going. The pre-market took out 221 and just kept on going and going and going. Really, really big move there. BIIB, I wasn't even watching it. I saw it at 277, I kind of lost track. I don't even know what the hell this thing did today. Looks like it went to 278 and came back. Yeah, I just wasn't watching that. Crowd went nuts, CRWD 159 needs to build. Here was Crowd, right? Here was Crowd. It took out this whole little baby channel of 59, took out 61.5, 62 supply and went all the way up to about 64, 65. Really, really big move there as well. Navidia went also a very strong move. They were right off the gate. They were coming for the 130 weeklies. 127, 70, 128 needs to build. Here was Navidia, right? Here was Navidia, took out this 127, 69. We talked about last night's video. Last week's high and went right to 133. I still think if the market confirms, I still probably think it has another two, three points than before it reports its earnings itself. DXCM was a little bit too thin for me. Just went, you know, just trades so wide at the open. 99.5, 100 needs to build. If you caught a great job, I didn't have any. Way too thin for me. So here was the break here. Took out the 99.5, went to 103. Again, I think the big move here is gonna be above this 105 and change level. And again, here's my point of what we talk about. Guys, we don't fall in love with stocks, right? I love Tesla long. I love Tesla short. It doesn't make a difference. We fall in love with channels. And here's a perfect example of a two-way play today, right? Sneaky area for experienced traders. If it builds below 208, it can flush, right? That's one side of the market. Then the other side of the market, obviously this one didn't confirm. So the other side of the market, if it confirms 216 upside could have a dead cat bounce that would take out two days worth of selling. So two ways to play. And that's the whole point. Don't fall in love with the stock, fall in love with the ranges. So here was Tesla, right? Here was Tesla, it took out this 216, 217 level, traded all the way up to 224. If this thing starts building above today's ranges, you could see a move to 230. That was last week's highs, really nice move on Tesla there as well. Netflix continues to be Netflix, 291, 292 needs to build. Here was Netflix, right? Here was Netflix, took out 91, 92, traded up to almost 98. Nice move there. And I believe, and I said it looks awesome, 95s. Microsoft, 251, 234, obviously it's trading in the middle of the ranges right now, pre-market. And Google the same thing. Didn't take out the top of the channel, didn't take out the bottom of the channel. But let's definitely watch Google for tomorrow and both sides of tomorrow, but especially Google below this 97 area if it confirms. So that's it guys, that's it. Bull market continues, right? Bull market, well, bullish action continues. Let's not lose our minds. Bullish action continues in a bearish cycle below the 50 day moving average. Again, tomorrow it's gonna be very, very important to see if the bulls can negate Microsoft and Google's earnings. And if they do, then all the bulls will have a little bit better area to start stretching more. Guys, God bless, I wish you all the best and I'll see you all tomorrow. Take care.