 Everything else today was destruction was absolutely destruction, you know, we had some pretty aggressive 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 calm nightly wrap-up show Let's see. Let me let me put it this way. I Want to give you an example Going into today right going into today. I don't think I could have been more bullish More bullish that could have possibly been going into a trading day going off of a bottom, right off of a bottom Reclaiming the 10-day moving average granted again. We've been in a bear market now For the last, you know, five months or so We've been sell buys pretty much all the way down if you've been watching this video is pretty much on a daily basis But again like all bear markets and all extreme sell-offs We've we've had pockets of opportunities at the trade on the long side as well But again, the most important part is and this is kind of goes out to any any You know one thing the longevity type of traders firing trader again You have to learn how to trade on both sides of the market Because again, you could be theoretically wrong all the time as long as you're not a Stubborn mule, you don't have to be financially wrong That's the most important part of any market of any single trading day But I tell you going into today's session if you went through your charts last night Everything was super bullish Amazon looked like this thing was ready to just go out of its mind Tesla looked like it was about to reclaim these two channels here Confirm macro and start going to this 80 32 call a 32 levels. We saw 800 weeklies We saw 900 weeklies coming in just a really really aggressive move the video all the first couple of days 185 calls 190 calls 185 calls in nausea and everything set up so so Well, and you know, I've always maintained I've always maintained the stat, right? You could get prepared for a session You could put your research for a session the most important part is you have to trade the market You have not the market you want and when you woke up this morning I looked and I saw the Nasdaq futures down 120 20 points I was like, okay It's not that big of a deal because the first thing when I wake up, you know when I wake up But you know, you know, do you know do do the things everybody wakes up you wake up You know take the cold out of your eyes You look at your phone. You're like, okay, whatever we were up a good amount yesterday You know, whatever good open it's exactly want trapped the early shorts and start moving back higher and you start looking at the news why the market was down and I tell you I Could understand, you know one of these growth stocks, right being down, you know Like a you know, like a letter you or TDOC or UPST or these Dozens and dozens of growth stocks they got absolutely destroyed But when you saw pre-market that target was going to be An area of the tape right an area of the tape that is going to put pressure Just because it'll give you a sense of what main street America is going through Then everything really turned left very very aggressively and when you look at What the data is right the economic data and you talk about Inflation right inflation rising the cost of living the gas prices rising Combined that with acid classes, you know really coming in right really coming in whether it's the equities market whether it's The futures market the futures market the equities market The NFTs crypto, whatever the case may be the bitcoin markets, right It's starting to put a lot of pressure right in in the in the lower Lower I hate using those words But the middle class the people who are a little bit on the poor side And that's starting to really bubble into everyday life And when you look at the spending or the lack of spending in names Like a walmart or amazon for example missing a couple of their last few quarters You really come to you know, you really come to respect How effective this inflation thing really is and first when we started talking about inflation, you know, maybe you didn't You know, maybe you didn't you know affect you on a day-to-day basis and you start looking around It's like, you know the the the gallon of milk that you paid you say 4.99 Three months ago. You're paying 8.99 for now again doesn't mean it's not a big deal $4 shouldn't affect anybody's lives, but that's kind of the big deal. That's what it is and you see seeing people Getting absolute squeezed the gas prices are through the roof inflation's through the roof come on And everything and the translation is very very simple and it did really kind of remind everybody right that we are again We are still in a bear market. Okay, and even though Even though, you know, obviously all the long setups for the exception of a couple, you know, there's actually a couple that actually Confirmed the one higher, but everything else today Was destruction was absolutely destruction. Um, you know, we had some pretty aggressive pivots You know, let me let me log this thing in. We had some pretty pretty damn aggressive pivots To the downside amazon, you know, a lot of us were long overnight. Obviously didn't turn out well Thank god for that $30 candle Into the close yesterday, right? So at least we had a little bit of cushion But ultimately want to lose like 27 30 on the trade but again at the end of the day, right? Again, we you know, we don't sit there and wallow and woe is me and this is bad and everything is bad and the market sucks Again, you trade both sides of the market. That's the most important part You're trading both sides of the market. You're putting in you're putting in your work You're putting in your effort and you're not sitting there Like a hopeless deer in headlights here You're trying to get back Where the market sentiment is and it really does show you how quickly everything turned We literally went and it took us four days, right four days to reclaim The five and the 10 day moving average and you know, hell man I wow my my friends some of my buddies got absolutely destroyed today They went really really more aggressively they should have which I get I get it There was like 200 stocks I could have put on the watch list yesterday But again, we're wrong right where human beings were going to be wrong and again as long as you're not wrong As long as you're not wrong To the point that you can't rationalize that you'll be fine And this type of environment again, one of the things that are always going to save you Especially if you're taking anything overnight you got to have a hedge. We've been talking about hedging properly You know hedging properly In markets that are not bullish bias and for example, even though amazon was just terrible, right absolutely terrible On the overnight exposure at least you got some cues as a hedge, right? So in cues opened up down five six points It's a little bit of you know, it's not the whole hickey. You're not removing the whole hickey But at least you're you're you're you're kind of glancing the blow and it's it's doesn't turn out as bad As it should but yeah, I mean market It made it stance it, you know, you had a 1200 point move down on the dow You had like what five six percent on the nasaq, you know brutal just an absolute brutal And now you know you're looking at the bottom of the range here Where the low from last week you talk about 284 285 and again if you look at the weekly view Of of the qqqs you could you could see where the next Measure potential is if we start losing, you know, again if right that everything's contingency things have to happen You don't just say it's going to happen. We don't know. I have no idea the market could rally 500 points tomorrow Who the hell knows? But the point is at least you have a line in the sand here on the weekly chart on the cues You're obviously looking at today's low as a as a barometer You're looking at last week's low off this 284 levels of barometer to kind of see How much more aggression we do have and again before putting the cart in front of the horse So at least you could see where you can have measure potential if we start Building below Both of these channels. So, you know, it's tough man. It's tough Again, if you're a a permeable today was really your chance, right? I know yesterday We had the big move on the fat and it was all great and you know, but again Powell has these Big rallies, right because of Powell. We had we had this rally. We had this rally, right? And we had this rally yesterday and again, it really does show that history does Kind of repeat itself, but man that close was bullish. Wasn't it unbelievably bullish? Um, I had so many longs I was watching today. Obviously, you know 99.9% of them did not trigger The actual a couple of longs that did you know gave a little bit of flow for all you guys who traded on the long side I was waiting for the, you know, I was waiting for the short tight to confirm But boy, oh boy when you see target dropping, you know 25 27% intraday It really does tell you and shows a pretty damn big picture Where you know where the economy is, right? We know we usually sometimes talk about a disconnect between the Main street and wall street, but you can really really see How the lack of spending and names like Walmart like I mean, look at everything got taken down You got Costco got absolutely wrecked Walmart day two, right? You got Coles you go all of them, right? Every single one of this would make a difference and they took down Amazon with it, right? Amazon is retail at the end of the day. Yeah, they could sell cool little knickknacks and Fidget spinners and blow up six dollars and all whatever you want But at the end of the day, it's still all retail and everything came in Very very aggressively. So let's talk about today's pivot. So obviously You know, obviously there's a lot of bad news here and again, and here's the thing man I think this is a very important point when the NASDAQ was down 120 points And I've always maintained this and keep this in mind When you have a bias, right? When you have a bias to one side of the market and you have And your research is showing that side of the market I and the futures open up the complete opposite direction of your research tells you What I always do, I always want to give it at least a candle or two Okay, we trade 60 minute candles. There's six candles in the day I want to always give it at least a candle or two To kind of see if that side of the market of your research can shake things off And start going in that direction and here's my you know, here's my point I go cues closed above the 10 day moving average target news spooking the market Let's see if the bulls can fight back, right? And at one point They actually did a little bit Tesla was only down like what for You know, they actually fought back a little bit I go look we'll give the bulls the benefit of that For the first two candles and then reassess right now and that was the main focus here So initially Rivian actually had a nice little pop for all you guys again I didn't trade Rivian again I was just waiting for the bot the bottom channels that finally, you know did pretty well We'll get that in a second Rivian 28 needs to build here was Rivian Right for all you guys it took a nice little movie There was nothing wrong with it took out 28 bucks We talked about Rivian last night Took out 28 and traded right to the next supply of 29 20 is actually a nice move Doesn't make a difference bull a bear market was actually a really nice move You saw a short term $30 and $40 calls coming in so that was a nice move The initial pivot on Tesla was 770. We'll get to the pivot to the downside in a second 184 obviously came nowhere close to pivoting on Nvidia and he actually took out the previous high 103 20 only went up a dollar but the point is yeah, I mean some names did kind of wake up Right, you know took out 103 20 went to 104 20 and then obviously just a tremendous disgusting reversal and here is you know here is he started seeing all these All these sell buying coming in here. I still like the square I know I know square did okay today at one point of the day But I like this square guys watch this square here below the 78 79 dollars I think next couple of days if the market continues to see weakness this thing's in a tank But obviously it didn't confirm and here is here is where the downside buyers came in One by one by 180 Netflix so 183 30 if it builds below can flush more here is Netflix Right, so it took out the 183 40 which is the bottom of the range here on the five day moving average and clout went all the way down to 176 I think if 176 starts to confirm and you can see that was the 513 low it's also yesterday's low if this 176 confirms I think there's another 13 points to the downside there as well dash 65 20 65 if it builds below can flush more obviously here's rivian 29 on deck here's dash right here's dash took out the 65 20 went down to 63 I still think this thing goes lower below 63 I think these 56 57 Tesla yes so here's here was definitely the big one here the macro trades we started what the macro view was what 729 719 right once we started the market fall apart it was forget about the long side start looking to the downside there was a sneaky pivot right we started watching 745 there was a sneaky pivot at 745 and then a confirmation below 7 736 before it got to macro so we started shorting this thing is 745 not only did we see the June 700 puts guys that the amount of buyers that were coming in for the seven seven figure buyers of the 700s at one point was very very aggressive and you could tell here it took out the 745 took out the 729 set took out the 719 went all the way down to 700 you know look Tesla confirms that Tesla confirms 700 tomorrow man we're going to go down to 680 that was last week's lows they were coming in massive buyer came in for the June 500 puts okay they skipped the six they went to the 500 there's a lot of selling pressure on this thing in the options market so definitely one to watch yeah here it is right here June a buyer came in right here buyer came in for the June 500 puts 3.6 million one that we forgot to put on the feed but all you guys are listening to the webinar anyway there was a really aggressive you know we got hit on Amazon at the open and then you got to flip the gear so here is the opening range low right here it stopped at 21 97 and that was the opening range low congratulations all you guys are still holding this thing I you know I think this thing cracks like it really really cracks there's a big move down about 70 points to the downside if you look at the daily chart on Amazon again it got below the five got below the 10 got below this 21 56 level you know this thing has room if the market continues to go down this thing does have room all the way to 2048 so look there was a really good adjustment and that's the most important part guys again you're going to be wrong right I don't care about being right being wrong it's it's not a popularity contest we don't care about you know what it likes and shares and all that bullshit excuse my French of course the most important part is be a professional okay even if you're trading for a week it's okay to be wrong right as long as your research is valid and it doesn't confirm it's okay you're allowed to switch to the other side right if you google the word trader right versus investor well there you are you'll get a whole explanation so it's very very important to have an open mind we do know macro where we are we've been talking about we've been a sell bias market for a long time with periods of upward bias but man oh man was I bullish going into the day and man oh man I am not now having said that will probably rally a thousand points because this market will never follow through I'm just joking maybe I am maybe I'm not but again let's watch the channels to the downside tomorrow and if there is on inside date tomorrow we get a little bit of a dead cat bounce tomorrow in the market that's the day you kind of want to chill right you don't want to play the dead cat bounce what you want to do is make sure if we do have a dead cat bounce tomorrow that it's an inside the day it doesn't take out the highs then it doesn't take out the lows and wait for those channels to confirm down because if they do confirm down then there is a whole big pocket of downside levels still to go all the way back down to the 284 level look is this market easy absolutely not there's no such thing as an easy market there's no such thing as a fun market but there's a market there's that you can control and control is everything risk is everything but the most important thing is process and staying in business guys god bless stay safe and I will see you all tomorrow take