 So you had 16-point move on the queues in six sessions. That's a lot. The last thing you wanna see is something called Too Much Too Fast or Too Far Too Fast. And that's kind of what we're starting to get. 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. Weekend update show. Hope everybody is doing great. Hope everybody had a great week of trading. If you trade technology, if you trade the high beta mega cap technology names and obviously this was a week that was really pretty damn good. I mean, that's the best way you can say it. For all you guys who are joining us here for the first time on this broadcast is kind of rewind the last week or so and you can kind of figure out where the sweet spots truly are in the market when you have a technical mindset instead of having an opinion. So very, very quick review. Finally, the queues reclaim the 50 day moving average. That's, there was kind of the theme this week and we'll illustrate what we're talking about for what you guys are gonna watch in the broadcast. You kind of been following along. But the queues finally reclaimed the 50 day moving average here at 321 which is super important because look how many times it's gotten rejected over the 50 day moving average just over the last several months especially we were so heavily sell bias for the month of February and March which played out really, really well but it is a time to be sell bias when everything is under supply or actually underneath demand. And there's the time to be really, really aggressively bull bias once everything reclaimed supply and starts going forward. So not only did the queues finally reclaimed the 321 level they reclaimed this whole area here that's been rejected for a month in the change at 324 and started a pretty aggressive bias, right? Really aggressive buy bias. And this was, and that was the video if you guys remember right around here the first close over this 324 level. And that was the video I came out and said look there's no room for interpretation here. Okay, this is bullish. This is, you don't wanna be short the market. They reclaimed levels that have been in a distribution channel for two months and that was the key, right? Once they reclaimed all these macro levels it started pulling everything up one by one by one. And if you look at the, if you look at the scoreboard this week really aggressive, right? You had the queues up 3%, same pretty much plus or minus on the S&P and the Dow as well. It really does show you how important technical analysis is because if you've been following the tech sector pretty much for the last, take last week out of the way if you've been following the tech sector for the last pretty much three, four months they've been range bound very, very aggressively but I say this all the time the longer the distribution if you watched any of the PS60 workshops you'll hear me say this over and over again the longer the distribution meaning the longer a stock is in a channel once it finally comes out of the channel the harder the probability of the move comes and you saw that this week name after name after name and if you look at the common denominator, right? Here are the queues reclaiming the 50 day moving average going on a mega move. Now look at the stocks, right? We highlighted these names we had some monster moves this week which was phenomenal, you know this is kind of the week we've been waiting for for a very long time in technology and if you look at the names that triggered one by one by one if you've been kind of following along this broadcast hell just in the last week you saw a complete mirror image of the queues, right? You saw in the video this was a really big trade the video was a monster, right? Reclaimed this 530 level and just absolutely exploded, right? You had a 50 point move you had a 50 point move I'm sorry, you had a 30 point move math, math 101 you had a 30 point move in the video really, really aggressively Amazon, we talked about Amazon and nausea what was gonna happen if it started reclaiming the 50 day moving average and you can see here, right? Once it reclaimed the 3182 level just absolutely one nuts it's almost at 3,400 Apple was the last video I recorded on Wednesday nights because Thursday, I kind of take a mental res day I don't do a video I kind of just kind of recharge for the Friday session and this was the last video I made on Wednesday, right? Talking about, you know, Apple's next you know, if Apple reclaims this whole channel it should put up a run and it did exactly the same thing and the coolest part about this rally is it hasn't been everything's going at once, right? Apple for sure, right? NVIDIA for sure, Amazon for sure Facebook has been strong for a little bit of time really rested this week but again, can anybody really, you know really be mad at Facebook? Facebook won first when you look at names like Microsoft named it we highlighted twice in the last few days again, it did exactly the same thing reclaims linear regression line and one on a move but the coolest part again, excuse me for repeating myself but the coolest part about what we saw this week was not everything confirmed yet like Roku had a really big move, right? Like think about it look at the move on Roku just from the bottom and went from 396 all the way to 373 but if you look at where it is right now versus the other names that we just talked about it's still underneath the 50 day moving average now it's not close yet to reclaiming the 50 day moving average but that's kind of my point this was a rally this week that if you did your chart work and I always emphasize this especially to the newer traders again, even if you don't know what you're looking for do charts, you know, constantly 30, 40 minutes a day, an hour you know, two hours in the weekend get your mind focused get your mind ready to kind of start repeating the same patterns over and over again the same scenarios over and over again and eventually it clicks, right? Eventually it all clicks so I really encourage everybody to do the chart work but if you look at a lot of names this week, right? They're still not out of the woods and this is what made this rally very, very cool and very specific because you didn't need to look at 500 names, right? You didn't need to look at names that didn't confirm so for example, Peloton, right is still underneath the 50 day moving average Roku is still underneath the 50 day moving average and if you do your homework you'll see a lot of names that are still underneath the 50 day moving average despite the strength of the mark and now if we continue and there's a little bit of an if and I'll share that in a second if we do continue, right maybe these stocks finally wake up this week you know, maybe, maybe not you know, Roku's gonna need to do some work to really wake up Peloton's gonna need some work to really wake up but if you do your homework you will see there's a lot of good value names that are still out there that you can take advantage of and when they confirm the 50 day moving average they could spike up here's the curve ball, right here's the curve ball of the week I do believe we have at least I believe we have another day or so upside the reason why I say that number one, you can make a case this is a six point this is a six day move from 321 on the Q's almost, well to 337 so you had 16 point move on the Q's in six sessions, that's a lot the last thing you wanna see is something called too much too fast or too far too fast and that's kind of where we're starting to get but I do believe we have one more push in the Q's and if we do get a gap up on Monday into this 38, 78, 39 level consider making some sales if you've been swinging the Amazons in the video and the apples of the world just in the last week or so consider making some sales because usually what's going to happen is it's going to hit supply hit supply and roll over in a perfect world we have a flat open on Monday or we have kind of a slightly red open on Monday just because we could buy stocks into rise in support buy stocks into the rise in support and if there is a rally that last gasp of euphoria and again, I'm not calling the top this is kind of literally day to day taking advantage of data if we can get that push that really aggressive push somewhere into the 339 level that's really an area that you want to lighten up or even take off your swings because what's going to happen nine out of 10 times it's going to hit this 339 level and probably have one or two days of back test so look what happened here, right? Everybody see the last time and hit this linear regression line, right? What happened the next day? The next day we went lower everybody see that? So if things usually repeat themselves over and over again if you see here, right? If you see here and hit this linear regression line look what happened the next couple of days are rolled over so we're very close, okay? Again, I'm not calling for the market to go down just be careful, just recognize the levels and if you are in names that are very, very extended those names are cells into that push they're not by so if you have a if you have Amazon for example, right? And if you start going to the 339 levels hell, maybe pair some off you know, maybe keep a runner whatever the case may be but definitely give them stock man definitely give them stock on the way up Amazon's not a buy up here, it's a sell, right? The buy was right over here think about this there's only one breakout in the chart the breakout was 3182 that's where I got long and the next day, excuse me in the next few minutes the stock absolute and parabolic and four or five days later it's even crazy even higher above that but the buy on Amazon was 3182 everything else here, right? Or everything else here from here, here, here, here this is all one big consult excuse me, continuation channel so this isn't a breakout this is all continuation and the difference between a breakout right, the difference between a breakout and a continuation is the highest probabilities always gonna come on the breakout and then slowly but surely as the stock goes higher and higher and higher your chances of high probability continuation starts slowly but surely decreasing and if the stock for example like an Amazon is six, seven days above the pivot right, there's a higher probability than not you're going to have a back test especially if we turn around and hit like the 139 on the cues in a perfect role but I think it's gonna happen this week if we hit that 139 level we're going to back test maybe just call it a rest I don't wanna even say back test call it a rest for a day or so maybe some of the other names will start getting pulled up but this is why it's so vital to do your research this weekend but names like Amazon, Apple and the video those are the names once we go into the cues those are the names you wanna make some sales and buy them back into the rising five day support several days later and finally once we confirm maybe 234 days later that's what 239 level that's when we're gonna go back to all time highs here and you can see it where literally a stone throws away from that as well so it's very, very important to understand one thing guys and going into this week anything that broke out shouldn't be on your watch list if you're in it and you're managing position that's wonderful Apple broke out at 127, 22 it's at 132 so the idea of the stock is gonna behave the same way here as it does the same way here or here or here you're delusional it's a completely different stock it's a completely different trade and a different interval so anything you buy this week that's overextended that broke out five, six, seven dollars ago those are the ones that have the highest probability of kind of dying on a vine or maybe putting yourself in a situation that you're wrong at your entry it's the same stock it acts great but it acts great for six days not acts great when you buy it six, seven days away from the pivot the names that I still like like I really, really like I love shop I think shop looks great but keep this in mind shop broke out right here okay and a lot of you guys are holding the runner we're still having to hold your whole position especially you guys in the webinar the breakout for this thing was 3182, 3190 okay it's not at 1225 this is all this is literally all continuation but at least it's only two days above supply so if this thing starts confirming last week's price action starts confirming this candle why can't shop put up another 50, 60 points so this is still viable but for all you guys who are watching this broadcast right now it's not viable until the 1240s why would you wanna be long at 1240 if the breakout was 1182, 1190 and that's my point there's a lot of names that are still underneath supply that you can find a lot of value but make sure right make sure it's not six, seven, eight, nine, 12 days away from the pivot or away from quote unquote breakout to make sure that you have a really high probability that it's gonna continue in your direction so be very wear and carry so I'm definitely still very, very bull biased going into this week a little bit of caution I'm still watching that 139 level on the cues to make sure they don't get rejected but I'm still very, very bullish and I do believe even if the cues do get rejected there's not gonna be any fear there's not gonna be any names that you can be panic selling like algorithms gonna be crushing the bids and bids are gonna scatter like cockroaches will be very orderly and if everything goes well you're probably not even going to realize that the cues are even going lower if they test that upper channel I think what's gonna happen everything was slowly but surely is gonna start getting pulled up so if you are doing your homework this week and you start looking at a bunch of names that are close to their supply zones you are going to find a lot of value that's still out there but make sure again they're not overextended make sure they're cleaning out sellers at the top of supply and make sure that your entry is technically based not because you're chasing price action what happened last week last week's over right last week's over when lose a draw whatever you did this week last week when lose a draw it's over concentrate on the now and concentrate on the technical levels above so for example I'm not gonna give you some of the some of the last remaining names that I really, really like because again I've really realized this in the last like 24 hours like the names that I really watch if it's not like a Tesla there's so much liquidity on Tesla but there's names that I like and I realized once I record a video especially like on the weekends and I give you guys some of these plays that the liquidity my liquidity is gone man like I saw it a couple of days ago I was watching the stock that I highlighted on the previous night's video and because the broadcast goes out you know I looked I turn around my liquidity was gone at that price it was gone I couldn't even take advantage of the trade so I'm kind of going to hold off obviously everybody in the webinar obviously knows these prices on the Twitter feed but I'm kind of going to going forward I'm gonna hold off kind of giving these really premium beta names just because the liquidity is important to me so if I can't get into the trade there's no reason for me to put that out so I kind of like to trade some of these names but let me give you some names that I'm kind of watching to the downside of all things look at GameStop right look at GameStop we had a pretty decent pivot on GameStop on Friday below this 162 level keep an eye on this thing if this thing starts losing Friday's lows it has room to the 50 day it hasn't demonstrated any reason to kind of every like any type of good news came up it kind of got sold so keep an eye on this thing I think this thing has room to like 145 but the key is if it closes below 145 look how much room you have to the downside also this Baidu doesn't act well at all again this whole Chinese unwinding of securities off that prop shop head whatever they were whatever they were you know Baidu has in reality they got rejected off these top levels obviously we know this top of the range here but if it starts losing the 10 day moving average there's a lot of room to the downside as well so you definitely want to keep an eye on those as well so I think we're set up for this week guys there's a lot of good value I wish everybody the best of luck remember do not buy overextended moves because the first stocks the first group of names that get pulled if the futures get rejected especially if the QQQ's hit that 138, 139 level there are going to be the names that have the big big run so you might not want to maybe buy Amazon up 150 points off its pivot maybe not buy Apple six you know six points off its pivot look for other names nice and calmly remember you don't need to trade every single day one day at a time one trade at a time guys God bless I wish you the best and God's help us see you all Monday take care