 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 the AccessToTrader.com Nightly Wrap Up Show. Happy Thursday everybody. Usually tonight is my night off. Yesterday both kids had soccer or basketball. I don't even remember the hell anymore. So I decided to do one today. So let's talk about the tape. So obviously the big news came kind of reviewing the week back was the big CPI number on Tuesday, right? That was the biggie. And again, like I said, with all the economic data that's been kind of peppered for us throughout the week and throughout the months, nobody puts a lot of stake in them anymore. And apparently, you know, there was a lot of stake, right? Big, big move down a couple of days ago. You saw a five and a half percent move down on the Nasdaq 100. You saw the biggest drop in the Dow. I think it was like 1200 points since 2000. A really big crap show, right? And in the process, more important than the single day event, in the process, we gave back not only the 50 day moving average, but everything below it. And you gave back the 50, the 20, the 5, the 10, and so forth and so on, putting in a situation of, well, what happens next? And obviously, when you have an big engulfing candle, if you watched the video on Tuesday, right? We talked about it was just a matter of time that this candle was going to get tested. Yesterday was an inside day. And obviously, on this inside day, as much as yesterday, the cues didn't take out the previous day's low. And again, all an inside day means is didn't take out the highs, didn't take out the lows. It was just an area of arrest, but it wasn't for bulls resting. It was for bears resting. And came in today, came in today, again, you saw a lot of weakness right at the open. You saw semiconductors continue to be really under pressure. You saw names, again, the leaders, and that was the key, the leaders, Microsoft. This is the first one who really took down the market today, just really aggressively. And you started looking at names and you said, well, wait a minute, if Microsoft is going to start moving down, then you have to assume names like an Apple, names like an Amazon that are holding up the market. They're holding up the rest of the technology. Maybe they get hit along the way as well. And that's exactly what happened throughout the day. Again, was it a smooth session? There was some definitely aggressive moves down. Some moves up. But ultimately, at the end of the day, what happened was the queues lost. Not only did they lose the Tuesday's low, but they lost the lows from 9.6. And 9.6 was the lowest close in this whole formation. And then after the close, you got FedEx basically showing you a great guideline of what the overall economy is. It's all about spending. Again, a lot of you guys, I go into target with my wife a lot. It starts out with a fast little trip to, let's pick up some cleaning supplies or pick up toothpaste, whatever the hell it is for in the area. We're there for like three hours. But I tell you, it's not like in the past that you go to Target and there's like thousands of people in there. It's pretty empty even on a Saturday or a Sunday compared to where it was. It's called, again, Main Street Meeting Wall Street. And a situation like FedEx basically says people are not spending money. They're delivering less. And that spilled over to names, for example, obviously like UPS, it's primary competition, but then it goes into names like Amazon, right? And if Amazon, if Amazon, and again, all of us are on Amazon constantly, if Amazon, if people are not buying things on Amazon, it really does really show kind of a pretty good display of what people are doing, their spending habits and what they're not doing. So this is where FedEx really shows Main Street meets Wall Street and it kind of gives you a really good broad of overall economy. But from the trading aspect, again, it's not a really whole conversation of people spending money, not spending money going into rates and not rates and all that stuff. We're talking about from the trading aspect right now. And the point is when you look at levels, and that's the whole point, all trading is levels. Again, I know a lot of people are fixated on fundamental analysis and that's great. If you're in the investing world, that's great. Fundamental analysis are everything, but again, a stock cannot go higher if the technicals are showing technical damage and that's exactly what happened. Again, I don't care how great Amazon you think is. Amazon, right? Amazon today, first close, right? First close below Tuesday's low, which confirmed the 50-day moving average and after the close because of FedEx right now is trading down here right around this 123 level, which is the low from September 1st, which obviously has a magnet all the way down to this 22 level. Again, great company. It doesn't translate into what's happening now. Apple, for example, right? Apple is again the king of cash, right? The king of hoarding every penny in the universe. This is the first close below this 150, was it 100-day moving average, put in a low today, 151.30s. After hours, right? After hours, it's getting hit. Sorry about the ugly little wicks, but it's getting hit after hours as well and if Apple starts confirming down, then you have room all the way down to 148. We saw 150-250 weeklies come in. We saw 145s come in for October's 147.30s and that all correlates into this 148 level as well. A name like Meta. And again, Meta's been having some really, really aggressive moves and you can't really look at Meta the same way you'd look at an Amazon or an Apple, but again, it's from the corporate side. Ad spending, right? People are not advertising as much as they should and this is the lowest close in this whole formation here and this is a little stick away from really confirming back down this channel here to getting more aggressive. Semis continue to be a disaster. AMD, I mean, look what happened to Vidya. Again, this is what happens when you violate the 50-day and you never attempt to rally back. Look at names like AMD. AMD, they were coming for the 75-weeklies today. They were absolutely coming out, just like the last day to buy puts and then you start looking at secondary names. Look at a name, for example, like an MDB. MDB is an inch away, a day away from losing this bottom channel and starting its next leg down. Look at Workday. Look at Workday, for example. Again, Workday, this is the first close below the 50-day moving average on Workday. If this thing starts confirming down, it's going to get hit as well and I know there's definitely some pockets of strength. I get it. There's definitely pockets of strength. Tesla has been an absolute monster, really absolute monster. Just what are you going to say? The institutional money flow in this name is still super duper strong. They were coming for the 310s that expire tomorrow, the 315s. We saw some 330s and 340s for October, but again, this stock is not going to be immune, right? I love Tesla more than probably anybody on the planet not naming the Musk family, but this is one of those scenarios that you're not looking at the sum of the parts. You're looking at the whole. So for every Tesla out there that's strong and in Netflix today, they got upgraded at one point. It was up, I think it was like 16, 17 points today, super duper strong and the continued strength, for example, on names like a snow, right? A name like a snow for every strength is there. There's just so many stocks that are continuously getting hit and continuously to build below the levels, which were damaged two days ago on that CPI number. So going into tomorrow again, is this FedEx pre-announcement going to affect multiple, multiple sectors? Probably, right? You got the transports. You got retail. You have the consumer cyclicals. You have a lot of names that could be kind of filtered out in the domino effect. But the point is, again, looking at everything, not trying to get a needle in a haystack of one stock that's showing strength. You're just trying to look at everything. And if you look at the other indexes, you got IWM, right? IWM, if it starts building below this, 180 and a half, right? 180 and a half tomorrow, you have room all the way down to 76. And SPYs, again, very, very close taking down this bottom range here, 388 because of FedEx, right? Because of FedEx is right at the bottom of the range now after hours. Look at the spies for tomorrow, right? For all you guys who trade the ETFs, the spies start losing this 388.40, 388 level, man. This thing has room all the way down to 382. So there's a lot of ramifications. Again, a lot of you guys maybe trade FedEx, you don't, but again, when Main Street meets Wall Street, and it's not a good thing, usually you're going to have a really aggressive reaction. So far, it's not that aggressive after hours on certain names, but other names you are starting to feel it, like in Amazon, for example. I'm very surprised by the fact Shopify is not getting a bigger reaction after hours. Maybe a name to watch for the next couple of days. You see this bottom channel here on the 10-day, keep an eye on this thing. This thing starts losing that 3180s level. This thing could get hit. I'm very surprised Shopify is not getting a reaction the same way as Amazon, but definitely want to watch for the next couple of days. So that's it guys. That's it. Tomorrow is Friday. Option expiration. Usually you'll get some very, very aggressive action because of that. Tomorrow's also quadruple witching, so everything expires. Index, futures, blah, blah, blah, everything expires. You want a better definition? Just Google it, right? Just Google it. Anyway guys, that's it. Hope everybody is doing well. Definitely some good value. Definitely good value on tap for tomorrow. If you go through your charts, all you got to do is go look at the September lows and any stock that's ready to violate it. Those are the names you want to pay attention to. Guys, God bless. Have a great trading session tomorrow. I will see you all on the weekend video. Take care. Take care. Take care.