 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 afternoon everybody. Welcome to another edition of the AccessToTrader.com, well, nightly update, but it's in the afternoon. It is around one o'clock Eastern time. Usually, obviously, I do the updates after the close, after five o'clock. Today, it's around one o'clock Eastern time. I got a crazy busy day. My son has opening day for his high school basketball season tonight, and then after I come back home, change, shower, all that stuff, then I have to drive to Manhattan. I have a holiday party to do a bunch of grown-up things, which I never want to do, but I have to do sometimes. So this is the only opportunity that I have to kind of record the video. There was no video last night. As you can imagine, how many times can I talk about in the last three weeks? The market is strong, taking out ranges, buy strong stocks, synthesize and support, and it's like every single day. So I figured after yesterday's move, give myself a day off, kind of clear my head. Yes, again, for anybody who's kind of living under a rock, you had J-PAL coming out, FOMC basically left rates unchanged, hinted about possibly cutting rates three times for 2024. We'll see. We'll see if that plays out to that degree. Throughout the week, we had more data to kind of support his decision or his stance with the CPI, with the PPI, ABC, ESPN, ABC via everything else in between. All those letters that everybody likes to talk about. But the most important thing is the market continues to be super-duper aggressive. Cues were a magnet to 400. And again, it really does show you how innocently everything started. Once we reclaimed, and this is kind of the message going into 2024, this is kind of your Bible. Anything above the 50-day moving average is super bullish. It's absolutely super bullish. Anything below the 50-day moving average is super bearish. And the point is you don't need to guess. When you're above supply, good things are going to happen. When you are below supply, not so much. And that's the most important part. Right now, what you're looking at is the day. Right? Is the trading day, market is taking a little bit of a breath, a well-deserved breath, a little bit of time out. And the most important part is even though the NASDAQ is right in the day and stocks are taking some profit-taking, we had an incredible run. And we've been talking about this for kind of a long time here. We don't know what's going to happen for 2024. We don't know. Okay, 2023 was an unbelievable year for the bulls going into today. I think this is even real time going into today. I think right now, the Qs are up for the year, down a dollar today. They're up for the year 52%. Okay, so 52%, they're up for the year. Incredibly bullish action. 2022, we were down about 36% of the year or 32%. I don't remember what it was anymore. But the point is nobody knows what the future has installed for us for 2024. And the absolute best way to kind of remove the doubt is trade both sides of the market. We've been saying this for a long time. God gave you two hands, two feet, two eyes, right? Use both sides of the market. There's absolutely nothing wrong with that. You're not evil. You're not Satan. You're not the antichrist if you short stocks in the same way. You're not a schmock. You're not a sheep or anything else when you buy stocks. The market gives you two-sided opportunities every single day, every single year. And your job is to identify supply, demand, the sentiment, everything in between and make sure that you are trading accordingly. The big story of the day, okay? The absolute big story of the day is what's happening on Tesla, right? So if you guys have been following along for the last, let's just say even the last month, month and a half, you'll notice that Tesla has been stuck in a channel, okay? Stuck in an aggressive channel for a very, very long time, okay? And every single time that Tesla is trying to get above this channel, trying to finally get above daylight, it's like a drowning victim, right? They pick up their head, they pick up their head and somebody's there to kind of push them right back on the water and that's exactly what's been going on in Tesla until yesterday. And this is kind of where the dynamics of what is going on right now. Right now what we're seeing right now is a little bit of a sell-off here in the market. And obviously everything is coming back down. But what we're seeing yesterday was Tesla actually broke down below the bottom range. We actually had a pivot to the downside. It went down a couple of points or so. But then we started seeing some heavy, really, really heavy dip buying and then not only did they reclaim back the 50-day moving average yesterday, they started reclaiming back the previous day's channel, which was super duper bullish. And today, just like every other day that Tesla has attempted to break out, obviously the market is going lower, so we're kind of fighting upstream. But Tesla right now, as of right now, right now, right now, it's 1.02 in the afternoon Eastern time. As of right now, this is the highest close. If there were clothes like this anywhere in the 250s, this would be the highest close in this entire formation. It finally got above the 246-60s level. It finally just got above the 52-75 level. And it stopped right at the linear regression line at 53-90s. Matter of fact, I actually tweeted this out a little while ago. So this was the major pivot today. This was the major pivot. 240-40 was yesterday's channel. 240-240 was the pre-market highs. So Tesla, if you look at the 60-minute view, if you look at the 60-minute view, so this was yesterday's highs here. 240-40s right over here was 240-240 was the pre-market high. They got rejected. And this thing just absolutely went bananas. Not only did it finally get above the 46-60s, it finally got above the 52-75 level and stopped right at the linear regression line, right there. Now, before you turn around and say, well, you know, technical analysis doesn't work. Yeah, okay, cool. Technical analysis doesn't work for the exception of, right, all those little squiggly lines, right, all these little squiggly lines that we talk about, that we talk about that are very important to us, right? Look at the last tweet here. This is what I put in the pivot feed. Guys, there's a little bit more supply at 253-90s. That's the high of the day, right? That's the high of the day, and that's the linear regression line that's staring you in the face. So if you are brand new at trading and you're trying to figure out what type of trader you are, if you've been watching this video for a while, following us in any type of format, whether it's Twitter, stock tweets, or on this YouTube channel, I will be the first person to tell you, start with technical analysis. Everything else is irrelevant. Opinions, polls, giveaways, alerts, all that nonsense you see on social media, all the information you need, all the, you know, all the plus and minuses, all the data that you are confirming and trying to capture is all in the same charts that every single professional trader to the first person who ever opened up their account 10 second ago has, we're all on the same level playing field. The only question is, are you going to die full in or spend two, three years trying to figure out of technical analysis is actually a thing, right? All these lines that we've been talking about for years and years and years that people deemed to be silly, well, they're not silly and that's the whole point and that's the difference between somebody guessing or somebody knowing where the next measure potential is and today Tesla was definitely the one and as you can see here for the option flow, right? They're coming guys, some pretty aggressive call buying coming in. We saw earlier, they were coming in for the 255 weeklies, for the 260 weeklies. They started coming in for January 270 weeklies. So there's a lot of call buying coming in as I'm talking right now, you can see here the stock coming in right here for the 257 and a half's that are expiring tomorrow. So ultimately we are still in a great tape. The bulls are getting an absolute incredible, well-deserved rest day and the most important part is guys, take it one day at a time, one trade at a time. Nobody knows what's going to happen tomorrow. Nobody knows what's going to happen the following day. The key is to be prepared on both sides of the market, get away from all distractions, get away from social media, get away from anything that could clog your judgment. The charts are the charts and two things are going to happen. They're either going to confirm or they're not and it's your job to figure out where those supply zones are and make sure you are trading properly. So that's it guys, that's a short little update. Market's still good. Let's see how the market closes. Again, as we see here as we're, as I'm still talking, you can see these 257.50 weekly coal buyers are still coming in for tomorrow's expiration. Click and close. Close anywhere in the 250s folks, anywhere in the 250s and start getting above this 254 channel tomorrow. We could start filling in this whole gap guys. There's no more supply all the way up to this 296 level. Obviously we won't get there in a straight line, but you have a lot of channels here. You have 257.50, 257.60s, which is the October 18th highs and this is why these guys are betting accordingly. Guys, have a great night. God bless. Let's see where this, let's see where Tesla is by the time you guys see this video. I'm going to try to get Kenyon to put this out before the close, but if not, there's nothing I can do. I don't control that stuff. Anyway guys, God bless. Have a great night and I will see you all tomorrow. Take care.