 Welcome to Access to 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 theaccesotrader.com. Nightly wrap-up show. Hope everybody is doing well. Hope everybody had a good day of trading before we start the festivities. Again, as always, guys, please like, share, support the channel. If you haven't so subscribed yet, please do. We would love to have you join us on this journey of ours. Let's talk about the tape. If you go back to last night's tape, last night's video really shows you my age, but shows you last night's video, we talked about a couple of things we knew were on the horizon. Last night we talked about this inverted hammer. Again, although an inverted hammer is not the top of any move or anything, but it is a short-term signal. Right, so we talked about the inverted hammer last night on the video, on the cues, which, again, if you look at the recent reference points of what happens when there's a, well, not even recent, just go back to your charts. You can see a whole display of inverted hammers turning into lower prices the following day. So here's the inverted hammer lower prices the next day, inverted hammer lower prices the next day. And here we came today, inverted hammer lower prices today. And again, we'll get to the indexes in a second. The second thing we knew that there was a big area that we reclaimed several days ago off this 299 level that broke the downtrend of this recent selling that started all the way back in this exhaustion channel on February the third. And the last thing that we talked about or the last thing we needed or the bulls needed was for the bulls to give up that 299. Again, another thing we discussed last night in the video and once the cues gave up that 299, you know, really started accelerating some pressure. But the most important part, well, at least as important part that we discussed last night was what was on deck today. Right. It was day one of a two day testimony by Jerome Powell, right? Fed's chair. And again, you know, I was sitting there. I was listening to the Squawk box. The Squawk box was, you know, you know, talking about it basically just giving the highlights of what he was saying, you know, throughout the thing. And as soon as he said, you know, as soon as he sat down and he said, good morning, he literally lost me there. Right. Again, I'm not a smart guy. I could barely walk and chew gum at the same time. And if you're like me, all those words are just like, you know, the old peanuts, right, Charlie Brown. Wow, wow, wow, wow. I have no idea. I have absolutely no idea. The good news is, right, I don't know what's going on with the Fed. You don't might not know what's going on in the Fed. But if you log on to Twitter on Stock Twist, I'm sure there's an 18, 19 year old that barely made it through high school can dissect what happened today with the first day of testimony. You see, you are in luck. But all jokes aside, so we started talking, right? And again, we talked about the last night in the video. We, you know, we started talking about there's going to be aggression on both sides of the market. Like I said, last night's video, it's not that I was sell buys. I just couldn't find any long plays for today. Obviously, you know, we'll get to the pivots in a second. It's a pretty good, pretty good pivots at the downside at the open. But we knew there was going to be violence. We knew there was going to be erratic movements on both sides of the market. That's exactly what we got today. If you look at the intraday, if you look at the intraday today on the queues, right? They gapped up, right? They gapped up, they sold. They rallied, they sold. They rallied, they sold, they sold, they sold. And one sideways to the close, closing almost one and a half percent down for the day. The Dow Jones was down 570 points today. Closing red, right? Red for 2023. And gray news, right? Tomorrow's day two. So it's going to happen once again. So I think going into tomorrow is kind of the same game plan as we had going into today. Of course, the value, right? Just like the value going into today's day was on the sell side. Of course, the value is on the downside. Again, majority of stocks close at the bottom of the range. Again, with Powell and his random thoughts of grandeur, he obviously spoke, he spoke the market. His language basically in layman's terms said, you know what, this whole inflation thing? Yeah, it might still be here for a little bit while longer. The market didn't like that. The market sold off. And here we are. So we're getting a day two scenario tomorrow. He's getting his coffee. He's getting his donuts. Hopefully he gets, you know, he gets some good love in tonight to kind of, to be gentle on market goers for tomorrow. But all jokes aside, tomorrow will be his day two testimony. I think the market will play out exactly the same way it did today. There'll be a sell-off at some point in the morning. There'll be an aggressive rally at some point in the morning. There'll be another sell-off, another rally. And then he'll finally shut his trap. And I think the market will start to kind of start trading on its own merits. And that's the most important part entering tomorrow. It's not what the market's going to do up and down, up and down a while. He's talking, finishing his testimony. The question is now, how do we prepare for tomorrow's day? And what's the major areas that we need to watch? Glad you asked, even though you didn't, but I'm going to tell you anyway. So here's where we are entering tomorrow's session, right? You have the cues. So the cues, again, inverted hammer yesterday, sell signal, traded down to the five-day moving average. Again, if you've been watching this broadcast for a while, you know that the five-day moving average is the shortest term sentiment, at least for me, the ten-day moving average is the birth of the trade, which basically means a shorter term move is probably going to continue. So the big level to watch for tomorrow on the cues, again, I've been trying to share the areas of interest on the cues with our nightly updates. Because again, if you are taking 10, 15 minutes out of your day to tune in for me, at least I can do is give you some pivotal levels for the markets for tomorrow, at least in the ETFs that I watch and mirror the QQQ. So going into tomorrow, you have 294.87, right? That is pretty much the line in the sand here. Not the line in the sand like the 50-day moving average, but for all intents and purposes, if we start taking down two days' worth of channels, or this is three days' worth of channels going into tomorrow's session, then we're going to start to start to stretch, and ultimately the last thing that we want to do, and again, I'm going to try to scare anybody, fear anybody, but the point is if we start any close below 294.87, probably test back this 288. And again, if you've been a loyal follower, a viewer of this channel, you know what happens. If we lose that 50-day moving average, you know, so we'll talk about that if that day comes. But again, it's such a wild card tomorrow. Today was a sell-off. Tomorrow could possibly be a rally. But again, we can't think and we can't guess. We're just taking the data point. So we're going to watch 294.87 tomorrow to the downside. Again, at least the area where the bulls need to defend. If they don't defend that area, we're going to get pulled. And to the upside, the bulls need to reclaim back this 299. Remember yesterday in the video, we talked about the bulls can't give up this 299? Well, the bulls have to reclaim back that 299 tomorrow on their close or we are going to have more selling. And you look at the SPYs, right? Here's a little bit different scenario. SPYs now engulfed two days, right? Two full days of buying. Okay, we had a three-day rally. We had this candle today took down two days worth of rallying and close right on the 50-day moving average. The key level right now to the SPYs is 397. If the bulls defend 397, we're going to rally back, release for temporary. Any close below 397 on the SPYs, then we have a date back, all the way back down to this 292, 392, 393 level. So again, going into tomorrow, guys, again, have a plan. Like I have a very specific plan for tomorrow. I'm watching, I'm definitely watching some stocks to the downside, as you could possibly imagine. There's one name near and dear to my heart. I'm sure you guys know what it is by now if you've been watching this channel for more than five minutes. And that is your friend and mine, Mr. Elon Musk Love Child, Tesla. So, you know, Tesla started breaking down a lot of levels in the last few days, okay? And now it's sitting right on this whole big, you see this whole range here, right? This is, if you draw your trend lines, whatever the hell you guys do to, you know, to get your float, your boat. But the point is, if Tesla starts losing this bottom of the channel here, you know, first move will get to 282, 182, and then the next move, potentially, you get to 187. Notable buyers, you had the 185s, the 180 weeklies. Another guy came in with a lot of size for next week's 185s as well. So, again, this is a very, very important level here. Really important. This will take down the range going all the way back to February the 2nd. If that February 2nd range gets taken down, and again, you can see you got 182, 177, obviously any close below 177, you got a lot of room down. So, again, before we jump, you know, we put the cart in front of the horse. Let's watch this bottom channel here. This thing takes down tomorrow. We could get some premium before anything else happens. On NVIDIA, same thing, right? NVIDIA had a great run. Had a great 2-day run. It took out the 39, traded the 42 and changed. But this thing is getting close as well, right? This thing is getting close as well. They start pulling the cues, and this thing starts losing the 5 and the 10, just like the cues. This thing has a lot of room down. Again, notable bets here as well. They were coming for the 225 and 220 weekly puts as well. So, there's a couple of names that I definitely want you guys to keep an eye on. ZS is another name. They blew up on earnings. And now this is very, very close. I think we even talked about ZS last night in the video as well. Didn't confirm as well. So, I'm definitely set up for tomorrow. I would love to see, love, love, love, love, love to see a little bit of a gap up tomorrow. Bulls get stuffed into supply. He starts talking. He gets aggressive again. They lose the bottom of today's channels. And we get another aggressive wash just the way we did this morning. So, let's talk about today's pivots. Again, ZS we were watching, didn't confirm. But this is the area that it needs to lose. In the video, 231.30 needs to build. There was another area. There was another pivot I'll show you in a second. A little bit higher that it finally triggered. But this is going to be the big number for tomorrow. Here's Netflix. 310 held twice if it builds below can flush. If you look at the daily chart on Netflix. If you look at the daily chart on Netflix, this whole range here, right? This whole range here was 310. 310, 310, 310, 310. It took out 310, traded down to 306. This thing loses that 306 guys. Look how much room this thing has, especially if the market implodes. So, nice move on Netflix. It stopped right on the 150-day support. If it starts losing that 150-day support, this thing should go lower. So, nice move there on Netflix. Marvel triggered right at the close. I still like this thing for tomorrow. Here was Tesla, the first decision of Tesla. 192, if it builds below, can flush. And had a nice move, had a $6 move. The opening range was about four, but beautiful move on Tesla. It took out this whole range and stopped right at the bottom of the channel here. And again, guys, for tomorrow, if you're an investor of Tesla, maybe it won't affect you long-term. Maybe it does. If you're a short-term investor of Tesla and you're watching for an area that's super-duper important, just watch. Go do some little bit of chart work today. Do a little bit of leg work today. Of course, I could tell you the area, 100%, right? But wouldn't it feel better, more gratifying to kind of figure it out by itself? This thing starts losing this whole range that started from February the second, guys. This would be a big, big problem. So, we're definitely, definitely watching Tesla for tomorrow on the video. Again, this was the sneaky area this morning instead of the 231.30. 234.87, if it builds below, can flush. And here is NVIDIA, right? NVIDIA went in from the strongest stocks, the weakest stocks. So, this is the open, right? This is the open here. Flushed down $2 below that area. Then rallied and it got smoked right at the close, just like everything else, basically showing the true nature of what the market is. Now, if NVIDIA starts losing this whole 5 and 10-day moving average tomorrow, there's potential $7, $8 in the trade. Again, I don't know if it'll trigger. I don't know if it'll confirm. But again, like we say every single day, don't we at least need to do our job and be ready for it, right? That's the most important part. So, tomorrow is the conclusion of the day to testimony of Powell, right? Let's see what the guy says. Again, keep an open mind. Less is more. Stick to your game plan. Don't deviate. There's going to be a lot of random moves tomorrow up, down, up, down, just like we talked about in the last night's video, the video game. Last night's video, a lot of random acts of violence. But the key is don't deviate from your process. Don't deviate from your game plan. Let everything confirm. Do not anticipate. If you anticipate, you're going to get run over, so do not do that. And once this guy finally stops talking somewhere around lunchtime, it'll conclude the day to testimony, and we can have business back to usual boring, organic, lethargic, but most important, highly predictable. So, guys, have a great night, everybody. God bless, and I will see you all tomorrow. Take care.