 this week, expect the unexpected. That's the goal. Don't be pigheaded. The market's going lower. Again, think about this. We just went from 297 to 277. 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 afternoon, everybody. Welcome to another edition of the Access to Trader.com weekend update show. Hope everybody is doing okay. So I kind of want to start out today a little bit different. I woke up this morning and I saw that Sean Connery died. And I was really, really sad about it. No disrespect to anybody else who played James Bond 007. But this is the coolest MF-er of them all, man. Sean Connery was the epitome of the cool guy, this almost like superhero type secret agent. Really, really touched me this morning. So rest in peace. 90 years old, God bless to just a cool dude. Sean Connery, shout out to him and obviously prayers to his family. So let's talk about the markets. First of all, guys, happy Halloween, everybody. I wanted to kind of record. It's just sad that I usually record on Sunday mornings, but I figured get it out of the way. Kids are getting ready for Halloween festivities. It's going to be obviously a little bit different this year. So I'm going to record it, share my thoughts and kind of move on to my weekend. So have a safe Halloween and all that good stuff. So let's talk about the market. We are pretty much here, right? So we were talking about for the last two weeks that we are on the doorstep of election night. We're a couple of days away. Tuesday, November 3rd is really coming upon us very, very quickly. And this will definitely be one of the craziest elections of all time. Raise your hand if you think it's going to, the person who loses is going to walk away with class and dignity, right? Yeah, me either. So I think it's going to be crazy wild if you thought this past week was crazy, right? Crazy just said, hold my beer. We're going to experience some crazy stuff going on. And I said the word crazy already eight times. But again, how else are you going to describe what's about to hit us straight in the face? So you're going to see a market that number one for the last several weeks has been really selling off pretty aggressively, especially again, we've been watching this broadcast women kind of defining the macro levels kind of over and over again. So this was the big one right here. And then to confirm then kind of what we are here, we'll get to the technical aspects in a second. But again, the market's been selling because of uncertainty. Okay, a lot of people and I don't care what your political kind of allegiance lies. Whether you believe that the president right now is doing a great job and he's the man for the job, your job is to vote. And if you believe that the president is an idiot and doesn't know what he's doing and the world would be a better place, obviously, the United States would be a better place. Again, vote for Biden, but vote for somebody. Don't just sit there at home drinking a Budweiser scratching your belly, picking out the lint out of your belly button and crying and bitching and moaning about your future. As the phrase goes, every vote counts. This is going to be a crazy election, crazy, and make sure you go out and vote. And the most important part after that is conduct yourself like a human being. Okay, whatever the results in, if the incumbent comes back, that's great. Respect it. If the new president comes in, respect it. There's no time and there's no place for a human being that's just salty going through life. So whatever happens, live with the results, go out and vote. And hopefully your life continues to be blessed. And that's the only thing we can hope for. Getting into the markets, we're going to see crazy, right? Crazy. We're going to see crazy again. Monday is going to be nuts. Tuesday leading up to the election is going to be nuts. There's so many different exit polls and surveys going around that Trump's ahead and then Biden's ahead. Everybody's ahead. Okay, nobody knows. Again, remember, nobody knows anybody who's talking about they know exactly what's going to happen. They know exactly how the market's going to react. And they're the epitome of what Ms. Cleo is, that person better be up $150 million this week. Because unless you're not, your opinion, right, means absolutely nothing, means less than nothing. It's all about what happens next. And that's what we've been seeing with the price action of the market. It's been a pretty good sell-off now for the good part of about three weeks from the top of the channel to roughly $297 on the cues to kind of where we are right here on Friday's low of $267. The good news is, number one, I really believe that the market was pretty orderly. Again, granted, this week was aggressive as hell, right? You saw the S&P and the NASDAQ down 5.5%. The Dow was down 6.5%. That's nothing more than pretty aggressive selling. We know the catalyst, the uncertainty of the election. We know what's happening all around Europe. They're closing, certain EU countries are closing down again. We don't know how long, but they're going to be closing down, I think, starting last Thursday. So it's very, very important to kind of understand where the dynamics of the market is. Is there a lot of uncertainty? Yes. Is there a lot of technical damage? Not yet. And that's the most important part. And that's kind of what I want to talk about today. So Friday was very, very aggressive. And most days that you're getting very aggressive sell-offs, usually there's going to be something that's very in common. Number one, you're going to have macro technical damage. So if you look at the biggest moves this week, they were coming out of technical damage from the lows of 1026, right? You had that big move. And then once we confirmed the big move after the 2.5% rise the previous day, that's when we had the kind of the waterfall into the next rise in support. The good news is if you believe in the case of the bull market, then you can turn around and say, well, look, look at the chart, right? What's so scary about the chart? Again, spooky Halloween, right? What's so scary about the chart? Matter of fact, if you look at the weekly trend line, we literally just got back to the rising wedge of the channel, right? The sell-off is aggressive. It was scary Halloween, right? But the most important part is, again, it's still very, very manageable. And if you look at a chart, if this was any other chart, if it wasn't major indexes and you turn around and say, well, is this the scariest thing you say? No, no. Again, the bulls could turn around and make a case and say, well, look, you know, we had this big, big run. We consolidated it. We put in a higher low from the lows of September, right? September. And now we're going to go higher, right? That's the bull case. Hell, I can make a bear case as well, right? You can make it easily a bear case. The bear case is, well, we don't know what's about to happen on Tuesday, right? We don't know who the next leader of the free world is. Again, you could be voting for Trump. You could be voting for Biden. You could be voting for Kanye West, right? As long as you vote. So I can make a very easy bear case and say, look, we have a definitive line in the sand, right? We have a complete definitive line in the sand. And if that definitive line in the sand breaks, and you could see it very, very clearly with your eyes, again, I've been saying this for a long time, technical analysis is not subjective. Okay, it's not room for discussion. It's either going to confirm or it's either going to hold. So we could see here clearly why it held. It held the rising support to 67. Now, if again, another candle comes and it starts confirming down to 67, then we go down all the way down to here to 260, which is the lows from September. Again, is that the craziest thing in the world? Is that the scariest thing in the world? It's not. But again, if you are a permeable in your whole thing, in your whole approach, and again, there's nothing wrong with it, is buy and hold and buy and pray and buy and everything else, then I think, again, look, I think you have a little bit of something to worry about. If you're a trader and you trade both sides of the market, and again, I prefer a bull market. Who doesn't, right? Life is better in a bull market. Everybody's happier. Everybody's smiling, you're better looking in a bull market. Your friends are happier. Everything's all good. Your penis grew three inches. Everything is good in a bull market. But the most important part is, when you're a trader and you're trading both sides, all you care is about channel definition, confirmation of channel, and taking advantage of price action. So again, I don't mind the downside. I would like the upside just because also there's a lot more liquidity, right? Ranges spreads on your stocks are going to be tighter. There's going to be more liquidity. So that's a good thing, right? It's a feel good. But again, we don't need it. And that's kind of where trading comes into place, that again, God gave you two hands, they gave you two eyes, two ears, right? Trade both sides of the market. So that's kind of where we are going into this election day, or at least election week. So you have to expect, and this is kind of what to expect. You have to expect, you're going to see a lot of volatility. There's going to be a lot of rumors. There's going to be a lot more exit polls. There's going to be a lot more surveys. There's going to be a lot more everything come Monday and Tuesday. So if you thought this past week was very, very aggressive, okay, you haven't seen anything yet leading up to the election, okay, the days coming up after the election. And for somebody that asked me, well, when do I think the market is going to become quote unquote normal again? Probably the following week, just because markets need to digest, the world needs to digest, the global community needs to digest who potentially our next leader is for the least of the next four years. So that's very, very important to understand as well. So going into this week, again, can you make an argument that we're going lower? Sure. Of course, you can make that argument. Marked stocks are being sold. There's a lot of, you know, there's a lot of uncertainty. There's a lot of crazy stuff going on in the world. COVID is rising. We get it, right? 267. This is the line in the sand. 267 again, write it down. You don't need to, you don't need to fight with somebody on social media and say, no, we're going to go higher. Okay. No, we're going to go lower. Okay. Just again, respect technical analysis. 267, we go lower. And if we reclaim 267 and kind of get back up here, reclaim the five day moving average, we're going to go higher. So there's no reason to, you know, the ramble and, you know, the huff and puff and speak to somebody on some random avatar on social media. Again, just trust technical analysis. If you notice, the last, look how many times we've got rejected off the five, right? One, two, three, four, five, six, seven, eight, nine, 10, 11, right? Right? 12 times. We got 12 times rejected in the last several weeks off the five day moving average. So again, if you want to make a bull case, right, doesn't the, don't the bulls need to reclaim the five day moving average? Again, it's pretty simplistic stuff. You don't need to overthink it. And for the bearers to continue to hold control and start hitting lower and maybe start pressing on the next of the bulls, they have to reclaim the 267 and it goes all the way back down to the 260 level. So that we established. Okay. So now this week, expect the unexpected. That's the, that's the goal. Don't be pigheaded. The market's going lower. Again, think about this. We just went from 297 on the cues to 267. You're telling me you can't have a rally at any point, call it dead cat, dead dog, dead power key, right? Dead giraffe, bounce, whatever you want to call it. But you're telling me it's impossible to have that bounce, right? It's the same way to turn around and say, well, no, Dan, there's, there's no way in hell the market's going lower. Really? You really want to take that stand by the dip, by the dip. No, no, you buy the dip until we start reclaiming very, very obvious levels technically, right? Buy the dip is completely a dream. Buy the dip is a bull market scenario that, yes, strong stocks need to be bought on rising, you know, on rising wages. But the idea that buy the dip, everything will be okay. Okay. Just ask the people who bought the dip at 290, at 280, at, you know, two, uh, you know, now at 270, right? Now you're talking about 270. Ask them, how are they doing buying the dip? So again, buying the dip sounds great, right? Sounds great. The market's going higher. Sounds great. But again, don't they have to reclaim technical levels? And again, before you turn around and say, no, Dan, they don't. Okay. Just continue to buy the dip. So it's very, very important, guys, this weekend, uh, to kind of get your ducks in a row, to get your game plan. Again, I went through a lot of charts over the weekend. And yeah, I, you know, I like a lot of setups to the downside. I really do. Um, you know, I also like a lot of upside sell some setups to the upside. But the one thing that I started thinking about this, this weekend is about what happened with the speculation money. So if you look at every single tech name that reported for the exception of Google, okay, and the reason why Google, uh, obviously was higher because again, the founders of Google are Russian, right? We don't play, right? We don't play, right? Obviously I'm joking, but we don't play. So Google was the only name on all the beta names, okay, that held up. If you look at Amazon, okay, it got sold off. If you look at Apple, it got sold off. If you look at Microsoft, right, it got sold off. You could literally go through the whole bag, right? You could look at Facebook, they got sold off. And the one thing that I kept on saying to myself, well, if companies are coming out with some pretty decent earnings, and again, you could, you could make a case that Amazon had pretty decent earnings, Apple, again, although this is the first time they turned around and used the excuse of, well, we're not going to give any guidance going forward because of COVID. Okay, maybe that's an excuse, but again, if these stocks are being sold off, and again, speculation money is beta, right? Again, you don't need to trade Facebook to really appreciate big funds lining up to buying the stock. You don't have to trade Amazon to really appreciate that somebody believes that Amazon will be at $5,000. Everybody uses Amazon, everybody uses Facebook, right? So the moral of the story is you start to accumulate data. You accumulate different clues of what do you think is going to happen next. So we have a very definitive line in the sand on the queues. We have a lot of uncertainty, which is again, another sell characteristic of what could happen next. And we are getting the biggest, the baddest, the most cult-like figures that are being sold into earnings. So again, it's very, very hard for me to turn around and say, we're going higher on Monday. So whatever game plan, however of a trader you are going into this week, just again, take a step back and really take into consideration how your specific process is going to benefit what exactly is happening in the landscape of the market, at least short term. And again, there's nothing wrong, and I say this all the time, especially at the new traders. There's nothing wrong with sitting it out. You don't need to be in the market actively participating every single day. It's hard. It's not supposed to be easy right now. Again, when you have the market going up and down, up and down, up and down, down, down, down, down, up and down, up and down, up and down, down, down, down, down. It's a very aggressive market. Again, for the first two, three, four, five years of your development, you should be looking strictly to really understand the dynamics of the market. It's like anybody who's a doctor. Your first several years of college, first four years of college, you're finding yourself. Then you go into medical school just because you get admitted to a medical school doesn't mean you're a doctor. You have to really break down your profession. You really have to understand the moving part. So if you are a new trader right now, my advice to you just kind of just sit there and watch. Again, especially if you don't have a big enough account that can really absorb any type of big volatility. If you don't have the mental capacity, emotional degree that you can curb your emotions every single day, sit out of this market. But watch it. Watch the order flow. Watch how the market really behaves when there is uncertainty in the air. Again, like I said this throughout the week, it might not seem like it's great right now, but you're doing yourself such a great service to kind of building your foundation. So again, four years from now, roll around. You've already traded in an editorial type of market. You already know what to expect. So four years from now when you're still trading, you turn around and say, okay, I know what to do. Okay, or at least I know what not to do. I should expect volatility. I shouldn't really keep a book because again, uncertainty breeds a lot of selling. And again, you're going to be smarter for it. So be very, very, especially if you're a new trader, if you've been doing this for two, three, four years. Again, just this week might not be your sweet spot, but again, it's definitely beneficially for you to kind of soak it all in so you could be ready for the next four years down the road. Other than that, Friday was actually a very, very aggressive day. And again, I kept on talking about the names that were right about to lose macro, macro support. And if you look at those names, like a zoom, like a peloton, like a docu and finally, we were watching for that crack on Tesla for like four days, like even though it was strong a couple of days ago, I said, I just want to give this thing the benefit of the doubt to the downside. And so there was some really aggressive selling on Friday, the COVID names got really hit. And that's what's scary part also, the kind of the bull thesis, if COVID is spiking again, and we're really getting some pretty aggressive waves up, and they start taking the stocks, they were the biggest beneficiaries of the whole COVID stay at home movement. Well, what the hell is going to be left to buy if those names are being sold? And that's exactly what happened. If you look at the names on the list, and the funny thing is Netflix is actually a pretty decent pivot to the upside. But if you look at all these stocks that were COVID COVID ready, zoom got killed, docu got killed, peloton got killed, right? Roku got killed. So they all got killed very, very aggressively. And Friday actually turned out to be a pretty good day. So let's talk about the pivots. Facebook on watch read the green for experienced traders obviously that never even came close. Remember, this is not a pivot. They came out with earnings actually held up pretty well, pre market but never got even close to read the green or confirming the 282 level. But ironically, Netflix actually gave a trade to the upside before it got killed. Netflix 501 rejected four times pre market. If it builds above can wake up a little bit. Netflix actually did. This is the most actually amazing move to the upside. So here is the whole 501 area, right? 501, 501, 501. Again, this is what we talk about sneaky pivots. It took out 501 and it put up a move to 506 and pretty good. Really exceptional considering what the market did and obviously later it sold off. But everything else was to the sell side. Zoom, if you've been watching this broadcast, we've been really nailing these pivots on zoom, not only to the upside, but to the downside as well. 482, if it builds below can flush more. I thought the stock could get to 460. That's exactly what it did. We actually went below it. So here is the 482 pivot. This whole traction right here, this whole area here. You can see 483 was the previous days low, right? And this is why I said 460 because it's going right to the rising Bollinger band. So this thing got murdered. Congratulations to all you guys that took it. Here is the 482 breakdown went all the way down to 458. Beautiful move on zoom. And they started taking these things one after another. My focal point was Tesla. I love Tesla. It really is. Again, if you can show me a better trading stock, again, say what you want about Tesla as a company. If you love Tesla, if you love Trump, if you hate Tesla, if you hate Biden, right? Isn't that the same thing? But this is such an awesome stock to trade. 401, lower Bollinger band support. That's kind of what we were waiting for the whole week. If it builds below can flush and Tesla got destroyed. I mean, really, really got destroyed. So this whole channel, right? Took down this whole channel here at 401. I got shorted 401. It got murdered. I mean, absolutely murdered. Went all the way down to 379. I thought it could get to 383. Went down to 379. Just an absolute destruction. Dock you again, another, another perfect example of macro breakdown. Again, these stocks cannot go up. These COVID names cannot go up with a COVID spike, right? And then let's go down. So 211 is daily support for builds below can flush. It was docu. Let me just show you from the, from the daily point of view, what I was talking about, but here is docu, right? Here's the 211, right? Here's the 211 and it just got absolutely destroyed when all the way down to 200. Look at the 60 minute of view. You can see it here, right? Here's the whole 211 area here, right? See it? The whole 11211 area that went all the way back to the 22nd of October just got absolutely murdered. And they started going one by one. Peloton, if it builds below can flush, 114, right? Here's Peloton. Here's the 114, right? Took out this whole channel here, 114 went all the way down to 109. Again, they just came from the one after another. Roku reports earnings on Thursday. This coming Thursday. And again, if it's watching what the other beta names are doing, you got to take a big gulp of what's going to happen on Roku as well. 214, 50, 214, if it builds below can flush. Here was Roku, right? So here's the two, again, this whole area right here going all the way back, right? Literally going all the way back and look how much this whole channel went and went traded all the way down to 200 as well. Twitter, again, just to give you an example, why technical analysis is so damn cold, okay? 4520, if it builds, can actually spike. Experience traders only. Again, not every single trader is everybody. So the pre-market high on Twitter was 4518. You see this candle here, right? So I said, if they could reclaim this 4520 level, it could spike. Look at the high here, right? 4518, right? 4518, and the high here was 4518. So if you don't think that technical, if you think technical analysis is random, maybe this is one of the reasons that you're just kind of stuck in the mud, man. You really have to embrace technical analysis. It really does provide a pretty clear view of what should happen next. And if you're trading without it, I hate to say it, but you are pretty much trading blind. So really full in love with technical analysis, and I think you're going to be shocked in your results. NEO, Traded 3150 came right back down. NIO, we've been watching this NIO. Unfortunately, I personally didn't have a locate for this thing. But for all you guys who are short this thing still, if you guys remember INO, I think Citron, and please do your own research. But I think Citron was really negative on the name. We've been watching this 1028 level for a long time. If you can see it, it held three times here. If it builds below can flush. And INO finally broke down. So here was INO on the daily chart. You see this whole area here, right? The low here, 1028, 1028. It's actually held four times, 1028, 1028. It finally broke 1028. Traded down to 970. I still think this thing goes lower, especially I wouldn't be shocked if Citron puts out another report or tweet, whatever. But again, you can see your next measure potential is 878. So it broke the 1028, went down to 970. Again, is this the biggest move in the world? No. But again, you can at least see where your next measure potential is. So I still like this thing lower. And yeah, obviously 401, beauty. I mean, just a beautiful, beautiful candle, zoom take on the way down, new lows on Roku. These things just got killed one by one, docu destroyed. I actually like this lead came nowhere close to even confirming. But keep an eye on this lead. They were coming out. They were coming for some near term, near term out of the money calls. Keep an eye on this thing. But again, first support here 393 went to all the way down to 379. Like I said, 381 is next, it got destroyed. I know $10. So I mean, really, really good morning and really, really good aggressive morning. What I forgot to put on the Twitter feed, I put this actually by accident. If you look at my regular Twitter feed, I actually by accident put it there. There was a big pivot on the video of all things on the video, we were watching that 504 breakdown. You could tell exactly 504 went all the way down to 492. So really aggressive action. And again, I think come Monday, you got to have an open mind. I could see the market gapping up and then getting destroyed. I can see the market gapping down and rallying 500 points. I think everything is on the table. Okay, so so biased. Yes, just because again, so many stocks are technically damaged or on the verge of getting technical damage. But I think open mind flexibility, just understand this is not a normal week coming up. Anything can happen and anything will happen. Our job is to, again, digest information and act accordingly. Guys, God bless, have a safe, happy Halloween. And with God's help, I'll see you all next week. Take care.