 It's just kind of like a baby Tesla. Maybe it doesn't have the significance, all right? Maybe the cult following like a Tesla had when it had its big run, but slowly but surely it's starting to really pick up steam and no matter what the day is bringing, long, short, bias. 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. Hope everybody's doing alive and happy and healthy and hopefully trading the markets pretty well. So let's talk about what we're talking about who we've been seeing now for a little bit of time. So there's no secret now these high beta tech names have been weak for a very, very long time. Again, we've stressed the fact that they haven't participated for the last two, three weeks despite their incredibly really good strength and a lot of other speculation names. Obviously also the semiconductors have been really holding them up. And again, if you are kind of under a rock and seeing what's leading this market up, it's invidious. It's the most unbelievable stock right now. It's just kind of like a baby Tesla. Maybe it doesn't have the significance, all right? Maybe the cold following like a Tesla had when it had its big run, but slowly but surely it's starting to really pick up steam and no matter what the day is bringing long short bias in the tape, weak volume, strong volume, this Nvidia finds a way to really not only trap shorts in bottom of 60 minute channels but squeezing them back to high prices. And the options markets really making some incredible bets. Since they announced their four full and stock split a couple of weeks ago, it's been non-stop buying. Today we saw despite the NASDAQ being pretty weak, today we saw 680, 685, 700, 730 calls for the next couple of weeks. There's incredible, incredible strength in the name. And if you look at the other names, for example, in that group like an Intel, you would never know what's going on. Even names like LRCX that had a big run over the last several weeks or kind of losing steam. Names like AMD that had a big, big run is losing steam. Even AMAT that started really a great cycle is losing some steam here. So Nvidia by itself is kind of holding up the NASDAQ 100 if it's so possibly believed. Cause if you look at other names in the group, they're starting to crack. Amazon, we'll talk about the individual pivots in a second, Amazon, right? Apple we've been talking about for a couple of weeks just has not been able to rally. And now we're literally like a day away from testing the bottom of the channel here. Netflix finally broke down today and a little bit of a macro trimming this armor. If it starts getting one more day down, starts to testing this bottom channel here, it can get hit. Tesla again has not participated in a couple of weeks. You know, we saw this kind of run up here as holding, holding, holding, finally closed yesterday below the five day moving average confirmed to today. And now we're looking at pretty good area of measured potential back to the bottom channel if this starts confirming today's prices tomorrow. So the NASDAQ 100 is a very, very odd bird. And again, if you look at the surface and the bulls that I think a pretty good job today, we talked about this 330 level, how important it was. The bulls lost that 330 level for, you know, for a good amount of time in the morning and reclaimed it, right? So they did a good job. So on the surface technically, and I saw a lot of people turning around and say, well, Bears did a really, really bad job today. They didn't really step on the throats of the bulls. It all depends what you're talking about. If you aren't talking about technology names, well, the Bears will win it, right? If you're talking about names, like the craziest thing probably now I've ever seen is this AMC. And the reason why I say this is the craziest thing I've ever seen. When you saw a TLRY go on this, this really nutty run, right? You guys remember that TLR1 run last year? At least you can understand the run. The run was based on the idea that number one, all these states slowly but surely are starting to legalize marijuana. So you got it, right? It kind of mentally made sense. All right, cool. If every state, you know, all of a sudden approves marijuana use, recreational marijuana list, this is gonna be a big hit. So you got that part. Even GameStop, right? For the craziest thing of all, even GameStop when you saw this magical run, at least you could turn around and say, all right, look, they figured out what not to do from Blockbuster, right? We're going to go online. We're going to give everybody access to, you know, Sony, Xbox, all these titles. So we're gonna pivot from brick and mortar and we're gonna go online. That's our plan. When you're talking about AMC, it's a movie theater chain, right? It's a movie theater chain. I don't think I've been in the movies for the last couple of years. I know a lot of you guys haven't been as well. What's crazy about this compared to like a TLRI or a GameStop is where is the progress? Where is the hope? Like where is the meaning of potential in this trade? And this is where it was getting people really crazy. Now again, I've said this for weeks. If you made money on this trade and you're holding it and you made a small little fortune or a big little fortune, congratulations. That's nothing to do or nothing to take away from your trade. It's more of a kind of a stance of how crazy this move is. And when you look at what we saw today, number one, you saw another offering. You have two offerings in two days. And the craziest part is not only did they buy the dip, right? We saw it in the afternoons. If you go on any option scan or whatever, you'll see nonstop, millions of dollars bet, not only for tomorrow, right? We saw at one point, one after another, coming in for the weekly $73 calls, you start a scene for next week's hundreds. We saw, I think, for $145 as well. So as crazy as this seems, right? They're obviously squeezing this thing. This thing has more lives than anything else. Is this thing worth, you know, is this thing worth the paper that it's printed on? Probably not. But again, for all you guys who are in this thing, who are enjoying the fruits of your labor or have been long for the last couple of weeks, congratulations. I think this is fantastic. Do I make any sense of it? Absolutely not, right? But it's absolutely fantastic. I get the whole gamma thing. I get the whole, I get what's going on. I get it, right? But I don't get it at the same time. I have no idea what's gonna happen next. But again, for all you guys who are enjoying the trip here, congratulations. I think it's awesome. Going into tomorrow, right? And I think that's the most important part. We look at the indexes and we turn around and say, well, the IWM broke out about this area. They try to sell it off just like the NASDAQ. It held a 10-day moving average and reclaimed the five. That's a bullish thing, right? If you look at the spies, you turn around and say, well, they kind of did the same thing. They broke out above this 418 level. They tried to sell it off. They reclaimed the 10-day moving average, reclaimed the five. That's kind of bullish. Here's where the problem lies, right? The NASDAQ 100 is getting very, very close. We've been seeing weakness in the names. They've not really participated. A lot of names are still above demand, which is good. But slowly, but surely, there's only X amount of times you can hold certain levels without having a ramification, having floodgates open. So we have a very, very definitive level here, whether it's tested tomorrow or never tested at all, it's tested next week. But we have to use, I think, today's lows as a very big barometer. So slowly, but surely, when you see stocks starting to break down, like in Netflix, like Amazon, like at Tesla, slowly, but surely, once we start getting above demand and this whole area gets confirmed, then you see how much room you start going. And the last time, again, guys, remember, the last time we closed below the 50-day moving average, and you can just see it here from your own eyes, right? Here is the first close above the 50-day moving average, started a really, really nasty cycle. Here was another close below the 50-day moving average here. It started a really nasty two-day cycle. So we have to watch this area, that 328 on the QQQs is gonna be super, super important. And when you start looking at charts in the members of NASDAQ 100, you kind of see what I'm talking about. You have Apple, we talked about, is maybe one or two days away. And again, we've seen the out-of-the-money call buying in this thing, but every single day, I don't care how much call buying is coming in this thing, they are literally fading the stock every single day. And there's really no reason to, but it is. So we have a definitive area here. If you look at Square, for example, Square had a nice run off the bottom, lost the five-day moving average yesterday and closed right at the 10. So if this thing starts losing, again, do I think it's gonna flush down to 193? No, I don't. But slowly but surely, you start going from channel to channel, demand to demand to demand to demand. And if the QQs confirm, you're gonna start seeing a little bit of ugliness. Netflix, same thing as today. Today, it took out that 495, 494 level. You'll be able to talk about the pivots in a second. First close below the 10-day moving average. Is this the easiest stock to trade? No, it's not. It's a liquid as hell, but today was one of the weirdest things I've seen on Netflix. It took out the daily level and they just literally just drifted lower. I haven't seen that in a long time. The stock just drifting drifted lower. So does that tell you there's selling pressure in the name? I wouldn't call it selling pressure more than compared to maybe the lack of buyers. So when you have lack of buyers, it's almost like the equivalent of selling pressure, but now you have this big channel here all the way down for the bottom, this 482 level. And you can see it, it's really, really in sights. And the same thing with Amazon. Amazon did not participate in the last several days. It literally had one day in the last one, two, three, four, five, six, seven, seven out of eight sessions. You can see this 3,170 level on deck. It took out this 3,197 macro level. We've been watching for a couple of days. And then after 3,197, you have a lot of room back to the downside of this 3,120s of the lows from the previous cycle. So I think, again, if you are an investor or a trader and your focus has been like me, has been on names in the NASDAQ 100, you've seen the weakness, okay? Now we just have to patiently wait for these things one by one to start confirming. And if the Q's start pulling macro down, you're going to find a lot of setups, guys. It's not gonna be just Apple, Amazon, Tesla, Netflix. You're gonna have a lot of things on deck very, very quickly. The same way the NASDAQ 100 turned up and confirmed the 50 day moving average and you started seeing stocks getting pulled up one by one. It's the same thing. It's the reverse correlation as well. If the NASDAQ 100 starts losing the 50 day moving average and confirms and confirms and confirms, you're gonna see a lot of stocks when you pull down one by one. So, not a bad session. I found myself scalping a lot of weird names, okay? The video was good. The video is just an absolute monster but I found myself scalping some weird names, Highland and Laser. And I think, again, this was kind of kind of like the chicken running around with the head. Like once they cut off at least in the morning, right? At least in the morning, once they cut off the head of Amazon on AMC, you started seeing a lot of these stocks getting faded but once AMC started coming off the deck, you started seeing a lot of these names starting to wake up again. So, I don't think speculation money has left the building yet, okay? But you have to, again, if you are a product of this whole meme, right? Rockham, Sockham, Gorilla, whatever the hell they call themselves, shitbots, whatever. I don't know what it is anymore. But if you're a product of the cycle, you have to really pay attention to the leaders. The game stops, I can't even say no in a straight face, but the leaders in that meme space, the game stops, the AMCs, if they go, your stocks are not gonna rally as well. So be very, very careful. So you wanna watch for order flow in some names. The options market is still driving a lot of these names and when they do confirm, it can be good. So let's talk about the pivots of today. OCGM never got to the 969.70 level. Ali never got to the 90.5, 91 level. This one started moving and it just didn't confirm. I at least I initially liked this chart. It had a big move up yesterday and I really thought it really needed to confirm that 53, 54 level. And it didn't stop right at 54 and then obviously it took up. But this is kind of what I was looking at. And I was like, well, this thing has a history of running here. I still wanna keep an eye on this thing. Again, assuming these plays hold up and this thing starts building, maybe over a bigger channel. But if this thing does, you could see kind of a bigger move. So I wanna keep it. I still wanna keep an eye on this thing for the next couple of days. Highland was pretty good. We caught a nice little trade on Highland. 1180, 12 and needs to build. They came in for the 1250 calls very, very quickly. And that's the mantra, right? That's the MO. They're coming in for the option floor and then they just jam the stock. So here was the 1180, right? The 1180, 12 area. They spiked it up really quick to 1230. That a huge move because everything started pulling back. But again, again, I'm trying to gauge some of these stocks in normalcy. Is a 40, 50 cent move good on a $11 stock? Right, I don't know. Right, trade bait, I don't know. But it was a pretty good trade. It wasn't a bad scalp at all. So not bad. Laser, 24 needs to build. Again, same thing. Laser, we saw call buying coming in, right? Aggressive call buying in for the 25s, 26. And they took out that 24 level and just spiked this thing up almost to 25 and a half. Nice move there on laser. So, you know, you had some of these weird moves. Amazon, this is when you started seeing things starting to flush. Amazon 3197 pre-market lows and the lows from May 21st. If it builds below can flush. Here's Amazon, I still think it goes lower. So it took out this whole channel here at 3197. Again, not a huge move, but it did close pretty much at the lows of the day in this 3180s level. I think if it starts taking down this whole channel, it'll see the 3150s and then ultimately 3127. Again, assuming the NASDAQ 100 gets pulled down with it. Netflix, 494 held pre-market twice. If it builds below can flush. Here was Netflix, very orderly move. I was stunned. So it took out this, let me show you on the 60 minute view. So it took out this 494 pre-market level here and they just walked it down. There was literally no upticks. They just literally walked it down on light volume when all the way down to 487. Look, I think if they confirm it, if they confirm taste price action tomorrow, I think it's gonna test this 482 level of the lows of this bottom channel here. So good move there for you guys who caught that. NVIDIA caught a scalp on the video. It actually exploded right after, but NVIDIA just continues to be good. And here was the move. Congratulations for you guys who caught Tesla 592 held three times if it builds below can flush. Now granted, you saw news coming out of China about deliveries, blah, blah, blah. But again, doesn't make a difference how it got there, right? So here is the 592, right? 592, 592, 592, and it took out the 592 and just got absolutely destroyed, traded all the way down to 570. And again, if you look at the daily chart on Tesla, if this thing starts losing this bottom channel here, look how much room you have to go. So you have a lot of room back down in Tesla. And I believe that is about it, right? 1250 is coming, take on the way up. New lows, again, a bunch of room if it gets hit. 482 coming at Tesla, NVIDIA. Again, you can see the June 735 call buyers coming in. Tesla, right? News getting hit and that's it. So that's it folks. So tomorrow is Friday. We want to continue to watch early option bets, especially on the weeklies, anything that's coming in for short-term expiration, definitely keep an eye on it. Also, keep an eye on this small stock as well, speaking of option flow, BBIG, right? Keep an eye on this one as well. It also had June and July, had June 18 expiration, $5 calls considering the stock's at 330. And also for the July, keep an eye on this thing. This thing starts getting above this 350 level and maybe confirms this 407 level. Who knows, maybe the hell you have a big move there, it looks pretty good. Again, option flow is the key. Guys, have a great night everybody. God bless and I will see you over the weekend. Take care.