 So if we confirm tomorrow's channel, here's the next demand. Again, it's not going to be a big deal. The big deal starts if we start confirming this 356 level. 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 Wednesday edition of theAxels ofTrader.com, Wednesday Night Wrap-Up Show. Hope everybody is doing well. So we came in, I keep on saying we. I came and sell by this technology after yesterday's move. Again, kind of quick recap. Yesterday's move confirmed last Monday's sell-off. And the key to today's session was, and we talked about last night in the video, I wanted to give the seller, I don't want to use the word bears, but at least the sell side buys every opportunity to start kind of making its way through lower prices. And we covered a lot of names last night. But again, you don't want to be creative, right? The names in the NASDAQ 100, the core names, right? The names that are hedge fund darlings, mutual fund darlings, index funds that everybody wants to own, those are the names that when the levy breaks and technical damage occurs, they're the ones that start to taking down first. Now again, was there a possibility we were going to have a dead cat bounce day? Of course, after a 400 point decline in the NASDAQ 100, any little bit of a relief rally would have been, I don't want to use the word expected, but it was on the table. And I think the most important part about today's session was having the ability to take last night's research and wait for it to play out. So when we gapped up today 200 points, there was absolutely no reason to believe that anything that was gapped up into yesterday's supply was going to be a buy. Remember, technical buyers meet emotional sellers on demand and emotional buyers meet technical sellers at supply and that's exactly what happened today. The market gapped up and everything that we were watching started getting heavier and heavier and heavier. Some names confirmed, some names didn't, but the ones that confirmed got hit pretty decent and now we're again set up for tomorrow's session. And again, the bulls at least had the opportunity today to kind of at least put it an inside day. They didn't even put it an inside day. They lost that inside day. They confirmed yesterday's price action and the only reason why we didn't have a more of an aggressive sell off today because they kind of bounced at least for today off this rising 100 day support. Again, does it mean we can't rally tomorrow? I mean, look, anything is possible, but nothing materialistically has changed from yesterday's session into today's sessions. The ones that confirmed got a pretty good swan dive and we'll get to individual pivots in a second. And the ones that didn't, they're just kind of waiting for tomorrow's price action to see if they could confirm the downside channel. So it's not that the market is horrible. It's not, it's not horrible. Again, anytime you see small cap names going out of their mind, it's still showing you there's a very, very aggressive presence of speculation money, but again, that's not my world. It's not the pool I swim with. But it really does still show you that some names are very weak, technical analysis still works. And the one thing that you always have to keep in mind, again, like I said in last night's video, you could be wrong. I could have been completely wrong. Going into today's session, everything could have rallied out and said, wow, I was completely wrong. But as long as, again, as long as you're not a mule and panic and start giving up on your initial opinion and letting the stock market dictate to you based on the scoreboard, what's right and wrong, as long as you're willing to let things play out, your process and your thesis is going to eventually make you right. And today was a perfect example that, again, there was only a couple of names that traded to the upside. One was Tesla. The other one was Netflix on yesterday's channel. We'll get to that in a second. But we waited. We waited very, very patiently. Again, not everything confirmed. Amazon didn't confirm. Apple didn't confirm. Facebook didn't confirm. Microsoft didn't confirm. But the names that were on the list from yesterday, the ones that did, did very well. We talked about Google yesterday and we talked about the bigger play for yesterday's session on Google going into today. It was not that Google was down 100 points yesterday. The play was, look how much potential you have today. And it confirmed yesterday's price action and started making a very, very good move down. Same thing in the video, right? We talked about in the video as well. It didn't give them the biggest move in the world, but it's starting to point in the right direction. It gave a pretty aggressive move off this bottom channel here and now it still looks lower as well. So when you look at today's setups, they're kind of yesterday's setups. We're still waiting on Amazon to confirm. We're still waiting on Apple to confirm. We're still waiting on, for example, Facebook to confirm. And whether they confirm tomorrow or not, it's to be determined. But at least the process and the thinking and the sentiment is still intact and slowly but surely you're going to start seeing a lot of names getting heavy. And when they do get heavy and when they do confirm, based on just the price action, it's not an opinion, right? It's not a bias. I don't want to be a seller, but that's where the market is right now. And that's where we're finding the biggest value. And when you look at other names, even the Chinese name, like look at Baidu, look how Baidu is setting up. Look at a name like RBLX. Look how it's setting up as well. Again, these are not the traditional beta names, the Fangs and Friends, but they're names that are setting up. They look violent. They look like about the fall of a cliff. Look at Square, right? Look at Square as well. So again, it's very, very tough. Unless like Tesla starts to resume its uptrend tomorrow, it's very, very tough for me, just the same way I said the last night in the video. It's very tough for me to turn around and say, wow, I want to be long. What do you want to be long in the market right now? I'm not saying what you want to be long for five years from now, right? Again, Amazon, of course, is going to be higher five years from now. Of course, Microsoft is going to be higher from five years from now, and Apple and Google and everything else in between. Again, fundamentals are going to catch up to technicals in the next three to five years and make everybody whole. But again, we're traders, right? This is not a channel for investors. I don't know what's going to happen three years from now. You think things are going to go higher. You think your portfolio is going to be okay. But again, are you guaranteed? So we're speaking from the trading point of view, day in, day out, we're trying to take advantage of short-term price action and short-term intervals when the market is, and again, when we speak about the market, let's talk about the cues. When the cues are over the 50-day moving average, and of course, we're super-duper bullish. I don't even hear the word sell or bear or everything. An example, because stocks are being pulled up above supply. But again, the longer that we are sitting and making a nice little channel and a nice little interval below the 50-day moving average, well, again, how can you possibly turn around and say bullish? Maybe your portfolio five years from now, right? That'll be bullish. And Amazon will probably be at $5,000 one day, but it's not going to be at $5,000 tomorrow. And that's exactly the difference between a trader and an investor. And that's the difference between an orange and a watermelon, right? They're both fruit, but they're not the same. And that's the most important part. So if you're an investor, again, is this channel really the best thing for you? Probably not, okay? Maybe, you know, there's Peter Lynch and this, that the other thing, but again, from the trading aspect of it, I'm not a bull, I'm not a bear. I'm an opportunist, right? And I'm a realist. And that's the most important part. When you're trading, you want to be kind of open on both sides of the market. But again, the most important part is you want to let technical analysis lead the way. And that's exactly where we are pointing every single day and trying to figure out where's the clearest, right? The clearest, not the easiest, not the sexiest, but the clearest path to the goal line. So going into tomorrow, bulls better defend this area. Again, it's not, you know, you're not looking at a macro trend break, right? But again, if you believe in the theory that stocks trade from supply to supply and demand to demand, right? So here's the first demand, right? We hit it perfectly today. So if we confirm tomorrow's channel, here's the next demand. Again, it's not going to be a big deal. The big deal starts if we start confirming this 356 level, then you got eight to 10 points of downside. That's when you start really paying attention. If you're, especially if you're an investor, that's when you really start paying attention to your portfolio and say, well, wait a minute, you know, I can maybe withstand two points or maybe get three points. But what happens if my next channel of support is 15, 18, 27 points? And that's when you have to really start being proactive as an investor. As a trader, again, we're just taking advantage of the short price action. Again, if you're a permeable, guys, remember, it's nothing personal. This is the stock market. If you're not mature enough to understand the stocks go up and stocks go down, again, maybe it's not for you, okay? But again, for everybody else who believes in price action that is an active participant in the market from the day-to-day basis, you can take advantage on the long side when the technicals take out supply and you can take advantage on the short side when technicals take out demand. So let's talk about today's day. Again, like we talked about last night in the video, again, we were looking for a downside bias, right? Downside bias, that was our major sticking point. And again, like I said, the ones that did confirm, they did very well, the ones that didn't help. We're just still watching for them to maybe confirm tomorrow. So 206.50, 206.Navidia needs to build. Nice move down, went down to like 205 and change, closed pretty much at the lows. If Navidia confirms tomorrow, you still have room to this area here and if it starts getting very, very aggressive, you have a lot more downside. We started seeing 200 puts yesterday, 190 puts yesterday. So again, we're definitely set up for continuation, especially if there's any type of gap up tomorrow, gets stuff into supply and starts going green thread into today's channel. Nice move there, Apple, we're still waiting, never got there. For experienced traders on Facebook, watch that 3380 level. Again, that area never confirmed. Again, we're still waiting here. Amazon, we are still waiting, didn't confirm, but Google did and that's exactly what we talked about yesterday. Wait for the ones that start organically confirming. Google for experienced traders on watch green to red. Note, this is not a pivot. It needs to clear out this 2706 to confirm down. Google basically closed at the low of the day and it got hit pretty aggressively. It took out yesterday's channel and traded all the way down into the 2670s. Again, if today's channel confirms, guys, look how much room you have down, especially if there's a more aggressive rotational pull inequities coming at money flow out of technology. So Google really good move on Google. Microsoft needs to build and never got to Microsoft. Again, we're still watching for tomorrow. And again, I said this in the webinar, I said this last night in the video and I said this on the Twitter feed. I'm going to let the cell case play out this morning. Again, the gap up this morning meant absolutely nothing. I know for a fact, when you have technical damage the day before, as stocks get stuffed into supply, it's exactly what happened. Not only did that happen, the NASDAQ went red and closed pretty much at the lows. So I'm going to say, look, I'm going to let the whole cell case play out this morning. And if the bulls kind of fight back and reclaim demand, then hell of them. At that point, we kind of switched gears. But again, it played out very well. Microsoft for experienced traders needed to confirm the 70 never did. Game stop, nice little flush on Game Stop. I still like it lower. 178 for builds below can flush. Here was Game Stop. Right here was Game Stop, took out the 70, took out the 78, went down to 74 and change. If this thing confirms, it still has room all the way down to here and here and here. So Game Stop, nice little push down on Game Stop. RBLX closed below the pivot. I like it for tomorrow. It looks good. Let's keep an eye on RBLX for tomorrow. Netflix, congratulations for all you guys who caught in Netflix. They introduced that video game part of their service 599.5, 600. That was yesterday's channel, needs to build. It traded right into the first supply, 609, 610. Beautiful, beautiful move there as well, right to supply. Here come the cues, right? They might get heavy. Baidu 152.50, 152 for builds below can flush. Baidu I still like for tomorrow. It closed below the pivot. If this thing confirms, there's a lot of room down, especially with a lot of these Chinese names is still very, very aggressive in the sell side. Bias, IRNT, if you did have a locate, I did not. But buyers started coming in for the 20 weekly puts. This thing got absolutely murdered. I said, look, if you have a locate, right? If you have a locate on this thing, if it builds below it, you can flush. IRNT got absolutely smashed, absolutely smashed here. It took out this whole 23 channel. I think this thing gets to the $17, $18 level. Again, they were coming in pretty aggressively with those put buyers. So really aggressive action today to the downside. Perfect move on the video. Google is getting slammed. New lows, game stop, new lows. And again, I thought it was a pretty good game plan. We let the sellers play out and the sellers did some technical damage. Here comes IRNT, $20 test. So really, really good moves tomorrow. Really good moves today. And the most important part for tomorrow's session is let the names that didn't confirm today, let them confirm. And if they do, and if they start dragging everything macro, we might have a day two. Guys, have a great night, everybody. Again, appreciate all the love, all the support, all the good stuff that comes along with this journey. And with God's help, I'll see you all tomorrow. Take care, guys.