 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 morning, everybody. Welcome to another edition of the AccessToTrader.com weekend update show. So I woke up today very, very happy. It wasn't that I bought something new or I'm looking forward to taking a vacation or getting a new car or anything that many people, unfortunately, and again, I'm no different than anybody else. You don't realize it in the moment, but things that we can buy a lot of times, materialistic things a lot of times subconsciously, they give us that extra boost. It almost validates what we want. And I woke up this morning and I didn't have anything on my mind. I didn't want anything. I wasn't looking forward to buying anything. I was just generally happy that the first time in my life that I could honestly say that I have food in my refrigerator. I have a roof over my head. I'm lucky enough to be married for almost 20 years, 21 years in July, but my wife's going to kill me. I have two wonderful kids and we're just alive. And I started really thinking about the surreal events in my life and going back to the worst, I mean, the absolute worst part of my trading career, which was two years after the internet craze. This is two years after the greatest experience that most traders would ever see in such a short period of time. And from 2001 to 2003, and a lot of you guys know this, but I didn't make a single penny, not a dime. And I was working for a hedge fund in South Florida. And I was the absolute worst trader on the planet. And there was no second. There was no second. There was no third. I was the absolute worst. I didn't have a single, I think, winning month, even winning week for two years. And that was the darkest part of my life. And the thoughts of, and unfortunately, again, and I'm not embarrassed to say this now, but it was there was a lot of demons in me back then that thoughts of suicide were very, very real. And I had to overcome that. And through all that time, God was always there. A lot of times, you turn around and you don't really appreciate when you have a very, very strong belief that somebody or something or whatever a series of events, something is with you, that's always going to help you. That's always going to look out for you. And life is just one big test. It really is. And unfortunately, right now, I know a lot of people look in the world. We're talking about it always from the market point of view. And we're talking about it from the point of, wow, look how great this market's acting, despite what's going on in the world. But people are going through some serious issues. I mean, 35 million people are unemployed right now. They don't know what their future has to offer. And unfortunately, we don't know. We're not promised tomorrow. We're not, I'm not promised 15 minutes after I record this video. So I think the way we look at life, kind of especially growing up in our society, everybody in your early 20s, you want the new watch. Okay, now you have the new watch, now what? You want the new car. Okay, now you have the new car, now what? You want your first home. Okay, now you have your first home. Now what? There has to be, there has to be a higher purpose, right? There has to be a higher purpose of happiness. And when I woke up this morning, I really felt, not for the first time in my life, because I'm very, very appreciative, kind of what I've been through and where I am right now, but the first time in my life, I could actually wake up and turn around and say, I'm pretty happy right now. You know what I mean? I'm pretty happy. And I think the blessings of God. And again, I don't want to turn this in this whole crazy thing, but I think what a lot of people lose track of is that blessings are all around us. You could be struggling right now, whether it's your marriage, whether it's your finances, whatever the case may be, in God forbid, maybe your health, but there's definitely things around that you are being tested. Our characters are being tested. Our resilience is being tested in every single level, different ways. And I do want to say, I'm not a perfect person. I could always be a better father, better husband, sure, better trader, right? But I have to say that, I think that us collectively as human beings, we have to believe that there is something there out there for us, that no matter what happens, that we're gonna be okay. And if you are going through hardships right now, just understand that half faith, if your trading career is not progressing as fast as you'd like it to be. Again, take time. Take time. Again, I'm not perfect. Not even the closest. I'm again, the biggest idiot on the planet. I don't have all the answers, but I'm trying. I mean, I'm trying just like everybody else. So if you are having a very bad time at this juncture of your life, half faith, God will be there for you. As long as you continue to believe and as long as you continue to have resilience, you are going to be okay. So I want to, before we even get to anything, I want to wish everybody an incredibly blessed life. That's the best way of saying it. Have a blessed life. Try to smile. Sometimes things do get hard, but try to smile. And the most important thing is, just keep on pushing forward. So I wish you all the best for your families, for your future and for the rest of your life. So God bless. So let's talk about the markets. Really good week. Friday was a very slow, painful day. Literally everything that we were watching pretty much triggered, it feels like after three o'clock, after 3.30, by then I was already, I lost interest. But it's amazing about this market. And the scoreboard is really not going to paint the full picture. You had the Dow Jones Industrial Average losing 2.7% for the week. You had the S&P losing 2.3%. The Nasdaq did very well. And again, the scoreboard won't paint a picture. If you look at the final numbers, the cues, right? The Nasdaq 100, they were down 1.2% of the week. But if you look at where these beta names are, where they close, they either, a lot of these names either broke out, or very, very close to breaking out. And it really does show you that, and I kind of titled this during the middle of the week, it's the George Costanza Market, right? Nothing that you think makes sense, well, it makes sense right now. And the amazing part of what we're seeing right now is the incredible resilience of the bulls. And when you look at where the market started for the week, kind of giving that last gasp of really, really aggressive run-up into this linear regression line, and came Tuesday, that we talked about a potential rollover. And again, that's exactly what happened. We had a 500 point day. On Tuesday, we've been watching these videos all week. You kind of see the chronological order of what happened. This was great about the YouTube platform, or any recorded platform. You kind of see my journey, you kind of see my thought process kind of every day. There is no Monday morning, quarterback. This is what should have happened, and this is what that happened. This is what we're going through. So this is what we're going through. If we're living in a real life, you have to be trading in real life. And the most amazing part is the bulls really could have, I mean, really gotten decimated. Two days in a row of selling, and the bulls did, again, an incredible job. That's the same thing they've been doing now since this whole corona mess started in the first place. And they had every reason, every absolute reason to rule over. But again, just like we've been seeing since the March, what was it, the March 23rd lows, the bulls keep on fighting back. The money flow continues to be there. The option flow continues to be putting traders in a position for deep out of the money bets, speculation bets. So the idea that fear is in the marketplace is completely false. Because again, when you're taking bets and you see fully guys who watch option flow regularly, you see, I mean, there are people taking hundreds of thousands of million dollar bets, ridiculously out of the money. And these are all bull market tendencies. These are not bear market tendencies. Bear market tendencies don't have 80, $100 bets, for example, on Amazon with a two week expiration. They don't have $60 out of the money bets with two weeks of expiration on Tesla, right? You don't have these things in a bear market. And the most amazing part is now that we're slowly but surely, and again, I don't want to get in the whole politics. I'm more of a conservative person. Again, maybe it's a selfish thing to say, but again, me being home doesn't kind of change my life, but I get it. I've been saying this nonstop, people need to work. So I am going to try to be a lot more sympathetic with that idea. I get it. You need to work, you need to leave your house. So the fact that states are opening up slowly, is there an optimism that the economy, forget about the health ramifications of it. The fact that the states are opening up, is this giving a lot more leeway, a lot more leash to the bulls. And I think it does. And I think that the prospects of more and more states slowly, responsibly opening up is going to give the bulls a lot more fuel to the fire. And it really is amazing that if you are a bear and you've been kind of shorting this market for the last two months or so, now you're really at that point that we discussed three, four days back. At what point do you call this more than a bear cat bounce, right? A dead cat, bear cat, dead cat, whatever the hell you wanna call it, bounce. And what we did on Friday was actually exceptional, really, really exceptional. Not only did we hold this rising 20-day supply, okay? Excuse me, rising 20-day support. We reclaim the five-day moving average. And if you kind of go back to three days ago when we talked about the bears reclaim the five-day moving average, right? And we confirmed we went lower. The bulls reclaim the five-day moving average back, right? On Friday. And if we confirm that, then we're gonna start heading back to this 228 level on the Qs. And if we start breaking 228 on the Qs where they got rejected several times, then we start going to 231. And anything above 231, guys, we're going to all-time highs. Again, keep this in mind. The economy's pretty much still shut down. 30, 35 million people still unemployed, right? Or filing for unemployed. Businesses, small businesses are constantly going away. And that's the most, that's the most saddest and depressing part. It's not that Dick's Sporting Goods is closed. They're new. You're talking about candy shops. You're talking about shoe repairs, yogurt stands. Small mom and pop businesses that unfortunately are not gonna survive this. I think that's where the biggest problem is. Of course, the airlines eventually will supply. Some will go bankrupt, but again, bankruptcy in the corporate world means restructure, reorganization, okay? Bankruptcy in real life. If you have, for example, hot dogs stand, I'm just saying anything. You're not coming back from that. And that's where I think a lot of people are disconnecting Wall Street from Main Street. There's going to be a lot of casualties, unfortunately, with this coronavirus. And it's just not gonna end when everybody, for example, goes outside through your local Starbucks. This is gonna be a multi-year recovery if they recover at all. So before we start talking about and laughing, ha, ha, ha, the airlines, the cruise ships, they're gonna go bankrupt. Well, I mean, nobody's really laughing about that. But they're gonna survive because they're always gonna reorganize. They're always gonna work with their creditors. Unfortunately, Mom and Pop, who can't afford to pay for their restaurant, okay? They can't afford to pay the rent anymore on their, you know, anything, shoe repair shop, they're gonna feel it. So those are the people we really have to, obviously, share a prayer for. Again, really, really good aggressive market this week. I thought Beta did very, very well, both long and short. I know a lot of you guys, a lot of you guys that do trade Beta. And again, when I mean Beta, first time you guys, if anybody's listened to this broadcast, Beta is the most aggressive stocks in the market, the stocks with the biggest average to ranges. So you're Amazon's of the world, you're Facebook, you're Tesla's, the video's been an absolute monster. And again, just to give you an idea how strong this market is, when you woke up this morning, woke up Friday morning, you saw the news, the China trade wars, right? And there's no bigger group that is a casualty of any China trade war, or these chips, right, the chip makers. And when you look at the video, what it did on Friday, from the time that it opened down like nine points. And what you saw in the video do, and again, they're reporting this week, was absolutely phenomenal. When you see companies like, you know, AMAT, right? You kind of have companies like AMAT that coming out with earnings and they get destroyed. And you look at the video just to see how, what the difference between beta darlings are compared to an average stock that, again, maybe some people invest in, but you don't really trade AMAT. You know, you trade the video, like we trade on the video all the time. So when you look at beta, right? Cold stock versus an average shoe stock in its group, it's apples to oranges. And it really does show you the strongest stocks kept on rising to the top in the videos of the world. Netflix broke out, right? Big, big, it's been a big mover all week. You know, we caught this Netflix several times this week, really, really strong move. Amazon, again, continues to see very, very strong, aggressive, bullish option flow. Okay, we're literally like a day away from taking out the previous highs last week and has a legitimate shot back to the 2450s. Tesla, with everything that's going on, the CEO downgrading his own stock and evaluation, it's literally one day away going back, going back to this 840s level, just needs to confirm this five-day moving average where we've got stuff now twice and back-to-back days. So if Tesla reclaims this five-day moving average, okay, it's gonna skyrocket again. If you look at Apple, for example, look at the run that Apple has been on. I mean, just absolutely, it's up, you know, 10 out of the last 12 days. And again, it's just one day away of reclaiming the five-day moving average and snapping right back. Look at Alibaba, even again, if you turn around, and this is a nice setup here for Monday, if you look at Alibaba, you know, through all that's going on with China, with this, that, and the third, again, all it needs to do, you can see here visually, okay, you don't even need to understand the dynamics of the PS60 theory. Just visually, you can see, you got rejected here, got rejected here. If it reclaims, it goes back to this range here, which is the 208 level, and if it reclaims 208, it has to move back to 212. So we're getting a lot of really strong bullish names. Chipotle, you figure again, you know, the restaurants, you know, most names are closing down, they're making money on the deliveries. Look at the move, this is a genuine V-shaped recovery on Chipotle. Look at Zoom as many times as they try to, you know, people are coming out with the, Facebook coming out with their own webinar thing, and Google with their own webinar thing. Look, I mean, Zoom is literally, you know, four or five bucks away from 52-week highs. So it's an amazing, amazing market, the stocks that have the big, big runs. Again, look, you know, is there an inevitable, that a BYND, for example, BYND, and a stock like Tullo, if you look at BYND now, three days in a row of lower highs, I'm still waiting for that one big back test next week. I think it could happen. You have one, two, three days in a row of all lower highs. It just needs to reclaim this area here. Bears need to reclaim, confirm, and you should get a move somewhere around this 122 initial move here. So I'm kind of watching that. Tullo, the same, had a big, big monster run. Again, you know, first inverted hammer, this is obviously a sell signal, if they could just start reclaiming this number here. I mean, it could get back down to 161. So there's definitely levels of interest for me, not only from the bullish side from this week, and there's some phenomenal setups, but from the sell side as well. Tullo I like, BYND I like obviously, if they confirm, Roku, Roku looks like next leg down is coming up, and this thing actually triggered the proper way on Friday after I left. The most ironic part about Friday's session, it was dead, it was completely dead. Everything was sitting in the middle of the ranges. People were waiting for Trump to speak at noon, and nothing was really going on. But you kind of saw a little bit of progression, kind of a slow drip for the bulls back to the upside. And then after three o'clock, if you were just able to keep your eyes open after a long week, and we're around after 3, 3.30 in the last hour, 45 minutes a day, you caught some of these pivots, other than that is just a very, very slow day. But again, Roku looks like there's some value to the downside as well. So we're getting a good back, you know, we really are getting a good mix of long setups, going into tomorrow's session, short setups, and the most important part is, again, business as usual, we're just sitting there waiting confirmation, again, do I have all the answers in the world? No, I'm just living life like everybody else. Again, I'm the king of the idiots. I'm just like everybody else, again, I've just been doing this for such a long time that you kind of know the ramifications of what happens if you try to guess, if you try to pretend you're smart. You gotta dumb it down, right? That analogy kiss, keep it simple, stupid. Hey, I think I was born to that analogy. So the idea that we need to be perfect as traders, as parents, as husbands, as friends, as father, right? We don't need to be perfect. We just need to be patient. We need to wait for confirmation. And from that happens, you know, obviously you need to strike with extreme confidence and a lot of conviction. That's what trading is all about. So let's talk about Friday's session. Again, painfully slow, like really, really slow here. So here's kind of my notes Thursday at the Friday session. So I wrote, I got 2.30, this was speaking Thursday. I was 100% convinced it was a bull trap. And then by four o'clock, the keys reclaim supply. This is why, again, Wall Street and the market is the greatest reality show that's not on television. Again, you just don't know what to expect. Your ideas and your perception of what happens next changes on a dime. And just like that, I turned bye-bys by Thursday night. And seven o'clock in the morning, everything again, gapped down on the China trade war. So again, I go, I'm clueless. I go, I'm absolutely clueless. Friday in the morning, I go, look, I'm clueless. It's Friday. You know, I don't need to press. I don't need to reinvent the wheel. Very, very solid week. Let's just wait. You know, let's just wait what happens. And you know, nothing happened really basically for the first five hours of the day. You know, BYND, I was looking at levels to the downside. Nothing happened. JD, I was looking at levels to the upside. Nothing happened. TULO is looking for the downside. Nothing happened. Tesla was looking for the downside. Nothing happened. Amazon finally woke up. Okay, Amazon finally woke up. And this is already, this was after, this was after I was already gone. So, 2385 rejected three times pre-market, it needs a strong new base to wake up. So, here was Amazon. And this is why, I really like Amazon going to this week. So, here was the 2385. It was right over here. You see these channels here? One, two, three, right? So, all three of them got rejected 2385. And it finally got above this 2385. Nice move here all the way to the 2410, 2411 area. Again, I think this whole range just needs to confirm on Monday. And there's going to be a macro range above here, right? If they could just confirm the macro range here, which is the highs from April the 11th. And we have a shot to go back to 2450. So, this is a super setup just needs to confirm. So, if you are holding, if you are holding Amazon overnight, it does look really, really good. And then, there was no pivot to the downside on Tesla. So, I go, hey, look, here's the upside of Tesla. Never triggered as well. Zoom, I caught for a fractional trade and nothing big. Again, at this point, I was already completely lost interest. I was just so exhausted. So, Zoom, and again, continues to be a monster. 7180, 72 needs to build. So, here was Zoom. Here's a 7180, right? Here's the 7180, 72. And kind of popped up and had a nice pop. It was much stronger after I sold it. I just kind of wanted something for Friday. Nothing, you know, I had a couple of trades on Tesla. The funny thing is, I had two trades on Tesla that had stalled out. Lost, I think, $1.40 combined on both of the trades. There was nothing really going on. I just kept on stalling the area where I thought there was gonna be a sneaky, sneaky pivot never got there. So, I caught some ZM. I lost a little bit of my paper cuts on Tesla. Nothing really going on for me on Friday. Then I kind of just lost interest. Take on the way up. And again, this is kind of my point that everything triggered after I left. So, Bobo203 needs to build. And I like Bobo for this week. So, here was Bobo203. Again, 203, 203, 203. It took out 203 finally after I left. Obviously, went to 204.5. I still really like it. Roku got slammed. They said, 11380, if it builds below, can flush. Here was Roku. Again, this is all towards the end of the day. So, if all you guys caught this thing, God bless. I didn't. So, 1380, right? Here was a 1380. And it went all the way down to 1240s. Again, I still like Roku for this week as well. And then again, I just kept on riding. I go, it's so far as a big snooze fest. I mean, just nothing going on. I go, look, it's still valid. If it gets down there, never got down there. And then again, ironically, and I go, it's still valid, right? Something valid. I go, something has to give here. And ironically, nothing gave. So, there was nothing. It was a big dud on Amazon. Nothing happened with mRNA. Yeah, and then I wrote, yesterday's high. It's 23.91 needs to build. Obviously, this is where Amazon put up a bigger candle. I go, look, take on the way up. It's slower session. Just take on the way up. And that was it. And that was it. But again, no complaints. Again, you're trading journey, there's no area in your trading journey that says you need to put on 35 trades a day. It just doesn't work that way. Number one, you're not getting any value. Number two, you are gonna be burning mental equity, something that's very, very important that a lot of people just don't acknowledge. I think it's almost like a taboo conversation. The actual mental health of what we have, what we go through every single day. And I think a lot of people look at it as soft or look at it as a weak attribute, but everybody goes through it. And I think you have to acknowledge how important your mental health actually is. Going into this week, again, some good setups indeed. I like Amazon. ZM continues to be really, really strong. I like Facebook. I think Facebook looks good. Reclaim this area here just needs to confirm. BABA looks really, really good. It just needs to confirm this whole linear aggression line supply. Apple as well, right? Apple as well. It needs to kind of reclaim this 310 area as well. And I think the stocks that had big runs, you could get a back test. I like too low sneaky area through maybe Friday's low and it starts confirming here. You could get a big drop and BYND, which has had a monster, monster run. I think it's getting tired. I think it just needs to reclaim these two channels here and then maybe you can get a move down to the 122, 124 area. So again, guys, I just want to share. I just kind of wanted to kind of share of like my, not enlightening, but kind of where I am right now, mentally, I'm just happy. I'm just happy just to be alive. I'm just happy to kind of go through this journey with everybody else. I'm incredibly humbled to sit here after 20 years of doing this. And it's just an amazing, an amazing journey. So I wish everybody a lot of love, man, a lot of love, a lot of happiness. Don't give up on God. He or she is not giving up on you. And at the end of the day, when everything is said and done, the most important thing is just a smile on our faces. Guys, have an unbelievable rest. God bless you all. Love you all and I'll see you on the field tomorrow. Take care. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.