 The longer the distribution comes below the 50-day moving average, as soon as it reclaims, it starts a really aggressive potential for the next leg up. And if the Russell gets pulled up, you sure as hell know speculation money is going to come into all classes. So again, 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 dot com nightly wrap up show. Hope everybody is doing well. Hope everybody had a good trading day. It really is amazing what you could accomplish in life and especially in trading when you don't settle, right? When you don't settle, when you don't prostitute your beliefs or in trading's case, you don't prostitute your money and just have the discipline and patience to let things play out and trade on your own terms. You know, we've been talking about the last couple of days how channels have been condensing, right? They've been contracting. A lot of people are away. They're going to be away to laugh the labor day. And the key is maybe you won't get five, 10, 20 trades, right? But you maybe to get that one, that quality over quantity. And the greatest part about waiting and not prostituting your money and really having a belief in what you're doing and what you're about to accomplish is you're putting yourself in a position to let the trades fall into your lap. And we don't know, and I said this last night and the day before, we don't know when channels are going to start to expand, okay? Only thing we can do with a common denominator every single night is put in that work, right? Go with those charts, put in the research and be prepared for the day. And, you know, I came in today just like I came in yesterday. I had no expectations. I had a good game plan that I believed for the day. I had a really good game plan. And the question was, how many of these things are going to wake up, right? How many things are going to confirm? How many of these things are going to reclaim major levels? And is there going to be anything materialistic that could potentially throw a monkey wrench into the plan? And I tell you one thing, and I think I can speak for a lot of people, especially in the webinar, incredibly aggressive day today. It's a really, really aggressive day. We got very fortunate that Coin came out with some pretty good earnings. Letter U came out with some really, really good aggressive earnings. We got upgrades and Splunk. You had other names like Boeing that we covered yesterday. We had a lot of stuff going on. And the only way that you could have taken advantage of all this, you have to be prepared. And again, anybody who wakes up at, you know, five minutes before the open and starts looking at the pre-market high list of what's the quote unquote hot stock of the day, you're going to be behind the eight bull for the start of your career. And unfortunately to eventually the demise of your career, your trading does not start at 9 30 in the morning. It starts from the previous day, the grunt work, the research, everything, you know, taking, you know, a million charts with a fine tooth comb and finding those diamonds in the rough, those gems that fall into your specific process. And today was just one of those situations that everything lined up perfectly. And the market just did incredibly well. And we'll get to individual pivots in a second. I just want to kind of touch up out what we're looking at for the macro picture. This is a chart of the IWM. Again, I don't put a lot of emphasis on the IWM, but this does represent speculation money. If you look at the cues where they are, they're well above the 50 day moving average been there for a long time. You look at the diamonds. Same thing. You look at the S&P 500. We'll talk about the spies in this case, well above the 50 day moving average. And every single time we've hit the 50 day moving average, just on the S&P 500, you can see the aggressive bounce that we hit. So the IWM has been kind of the lager, right? You can see it has been the lager for quite a while, but this does represent speculation money. And this is a very important point because it has a lot of the smaller cap names that traders are chasing or trading whatever you want to use, right? There's a lot of names in here that represent the overall spectrum of market sentiment. And I started looking at the indexes and I said, well, we know what's going on with the cues. We know what's going on with the S&P. We know what's going on with the diamonds, but I want to see what's going on with the IWM. And I started looking at it and I go, well, there's something very, very close to sparking an end of the summer rally. Again, I don't know if it's going to confirm tomorrow. I don't know if it's going to confirm next week. I don't know if it's going to confirm. But the longer a position, right, let's just say a longer an asset class gets bumped above the 50-day moving average, right? And you can see how many times it got rejected, once, twice, three times, four times, five times, six times. The longer the distribution comes below the 50-day moving average, as soon as it reclaims, it starts a really aggressive potential for the next leg up. And if the Russell gets pulled up, you sure as hell know speculation money is going to come into all classes. So again, is it something that I'm watching for tomorrow? I'm not. No, I'm really not. But I'm very, very conscious to know that if the IWM can reclaim this 225, 225.5 level on a close, you're going to see a very, very aggressive start into the fourth quarter that we can really take advantage in all asset class. Because again, speculation runs on the smaller names into really high specular names, like the dog coins and the shit coins of the world. But it really starts to spark in the high beta names that are Wall Street darlings that everybody wants to own, especially into the fourth quarter and especially into the first quarter, to have on their books. A lot of people call that window dressing, call it whatever you want, potato, potato, speculation money gets really, really exaggerated if all asset classes are moving, and especially if they get a spark on the IWM. Again, your point of reference, how important is the 50-day moving average? We talked about bowling yesterday, right? We said how many times bowling got rejected off the 50-day moving average? Once, twice, three times, four times, five times. Again, today it reclaimed the 50-day moving average. You can see what the stock has did. I actually traded bowling today. I actually did wallowage bowling today. I was shocked as everybody else, but it really does show you how important that 50-day moving average is. And the Russell, if they could finally reclaim everything will light up like a Christmas tree. So going into tomorrow, again, there's going to be some longs. There's going to be some shorts. We discussed that last night in the video. I wanted to make sure, this is last night's daily pivot list, I wanted to make sure that we were kind of covered on both sides of the equation, not only from fresh pivots, whether it's story stocks, whatever the case may be for this morning session, but I wanted to make sure we had some longs, we had some shorts, and the market was incredibly aggressive. Something for everybody today, and some really good value. So let's talk about this Netflix. And I still like Netflix to the downside. The Netflix, again, not a huge aggressive move, but 312 off the macro channel, it confirmed today. This is the lowest close in this whole formation. I still liked it lower for tomorrow. You can see it took out the 12 when all the way down to nine. This thing takes out nine. It's going to go back to this 504 level. Again, nobody saw my destruction and prices. We're just trying to take advantage of some channels to the downside. Amazon got absolutely hit pretty aggressive today. Amazon 3314 and 3298 macro. Here was Amazon. This is from the daily macro list. So it took out 3314. It took out the 3298 and went right to the next support at 3277. Again, if this Amazon gets pulled one more time below this rising support here to 3272, you still got about a, you got 70, 80 points of downside. Again, I don't know if we will, we're just trying to get prepared for the next channel. Microchip didn't confirm Roku, 377 short. Roku got dismantled today. Here was Roku, right? It took out the whole 377 channel and all the way down to 361. Huge move there as well. CPRT, not quite yet, right? 143, 142 on the short side. Not quite yet, right? Not quite yet. It's almost ready, but not quite yet. It got down to 142 level. It just needs one more bump to get this thing going lower. Boeing, we talked about Boeing last night. We talked about Boeing this morning. 3750, 238 needs to build. Again, we saw a bunch of 240, 242 and a half calls, weekly calls coming in for second day in a row. It took out the 3750 that we talked about last night and closed pretty much at the high of the day, 239.50. This thing gets above 240. You're going to see a channel go to 248.250. Let's see if we can see more aggressive channels coming in, more aggressive option flow coming in for near term expiration. Pinterest, 5670 short. Here was Pinterest. It took out the 5670 short. That was the low of earnings when all the way down to the 55s. Again, not a huge move, but again, the point is we want to be prepared on both sides and Letter U reported earnings 112.50, 113. This was a really good move here. Look at Letter U. They came for, here's the 12.50, 13 area. They came very aggressively for the 125 and the 135 near term expiration calls. It took out the 13. It took out the 15 and the stock closed all the way at the high of the day in the 120s. This thing looks like any dip tomorrow, like any dip tomorrow. This thing looks ready to go into this 124, 126 channel. It looks really, really good. Then you start looking at the daily pivots. Again, some of the names were the same as well. Letter U exploded, Splunk upgraded 175 price target, 146, 148 macro levels to build. Here was Splunk. Here was Splunk. It got upgraded today. It took out the 46. Here it is right here. It took out the 46, took out the 48 and traded all the way up to 49 before a kind of reverse course. Coin was a monster, absolutely monster move for all you crypto heads in the house and experienced traders only 284 is supply it needs to reclaim. Coin went nuts. We actually saw short term 320 call buyers. It took out this whole 84 channel and went all the way up to 294. They came for the 320 September call. So there's still, you know, there's still action on there as well. Roku again, we discussed, got murders, CPRT, not quite yet. Boeing again, just exploded, went to the highs. I still like higher prices there. Microchip didn't trigger. AMC, AMC 3125 is support. Any clothes below can see last week's lows. Here was AMC. It took out the 3124 area went right down. It didn't quite test last week's lows, but got down to 2940. Guys for all you guys who are investors in AMC, this is your line in the sand. It's 2890. At any given point, any clothes below 29, folks, this thing has a lot of room down. So you got, you want to definitely pay attention to that as well. Yeah. Excellent open today. Again, August 23, 20 call buyers. Awesome move on you. There was a really great moves here, 2240, 242 call buying, 150 next supply, 17s printing, 21 printing. Roku just got murdered. I mean, so again, it's amazing. It really, really is amazing how much value there was today. We had no, we had literally no, no reason to believe that today's day was going to be like yesterday's session. And the ironic part about going into tomorrow's session, yeah, I mean, there's definitely names I like both long and short, but there's no guarantee we're going to have expansion tomorrow. Again, keep this in mind. We are still in the last leg of summer. Is it possible we could have a repeat of today's perform? Right? God willing, knock on wood. But again, you can't rely on it because everybody is still on vacation. One trade at a time, one day at a time. We have the research for tonight. The game plan is ready. The key again for tomorrow's session is how many of these things are going to confirm. So let's talk about some ideas for tomorrow's session. I kind of like Etsy, Etsy for all you guys who are online shoppers and all that good stuff. I don't know if it's going to go back into the top of the range here, but this is the highest close in this whole formation here. If they can just reclaim the 50 day moving average, it's just like we talked about the IWM, just like we talked about Boeing, if it can reclaim the 50 day moving average, then you have all this room here to fill in this really monster gap. So there's a lot of potential in this thing that it might play out on a two day basis. We have to keep this on very closely. Any remount of the 50 day moving average is super bullish. I like dash again, door dash, a play on the whole stay at home movement. Not every stay at home stock is reacting. Netflix looks like garbage. Zoom looked good for a few days. Now it's looking like garbage. Docu again, the whole stay at home movement, reverse course a couple of days ago. So door dash is actually standing on its own two feet. If they can reclaim this upper channel here, you might start the next leg up. Obviously Boeing, any dip, any dip on Boeing tomorrow into the rising 60 minute support, first close of the 50 day moving average that's super duper bullish. Letter U same thing, monster move today, any dip tomorrow into rising support. Keep an eye on that as well. And a little name, this rocket mortgage looks interesting. Again, maybe not for tomorrow, maybe not for next week, but I kind of like this little sneaky channel here. Keep it on your radar. Again, I don't think it's going to confirm tomorrow, but you never know on this tape. So keep an eye. There's like seven candles of distribution here. If it could get above here, maybe it goes back to the 50 day moving average. So that's it guys. So get a good night's sleep. Don't put, you know, don't carry over today's, today's action tomorrow. Okay, not mentally. Okay, we know we have is today kind of an idle exception to what we're going to see from now to Labor Day. Very possible. Is it possible we have a day two performance like we had today? Everything's on the table. The key is be prepared, stay alert, have an open mind and trade what's in front of you. Guys, have a great night. God bless and I'll see you a lot of you guys tomorrow.