 We literally went from the bottom of the range to the top of the range in about an hour and a half, two hours. That's absolutely insane considering the top of the range here was $290, 330. 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. Yesterday markets couldn't get anywhere, right? We kind of talked about that as a very frustrating day. Then Apple came out, you know, they pretty much guided lower on their next shipment of the IMAX Pro, Pro whatever the hell it was called. And the market didn't like it. The market started selling off, so forth and so on, then they rallied and then sold off. A lot of us, right? Like a hot mess at three o'clock in the morning with too many drinks in the system. Today came, we knew there was going to be a second part of this, and this was known as Chairman Powell, right? The market was kind of pretty much doing nothing the whole day. I think we could all agree on that. A bunch of selling pressure in the mornings, semiconductors weak, banks weak, Apple weak, Microsoft weak. You know, there's a lot of pockets of strength with Netflix. Obviously, that was absolutely the craziest move of the day. But slowly but surely, you know, the market started kind of calming down, calming down, and then Chairman Powell came on and then he started talking. And the market wanted to really hear what he says. And apparently, and if you guys could remember, and I asked this today in the webinar, for all you guys have been trading, forget about 20 years, for all you guys have been trading for like 10 years, and if you can do so, comment in the video below. Do you guys remember at any point that the Fed was this active on a day to day basis? I don't. For some reason, the only thing I remember is like for the last two, three years, but I cannot definitively turn around and say, hey, it's always been this way. The Fed has been constantly just there every day with some sort of note, some sort of comment, incredible. But that's kind of the market where we are. And it's not that the Fed drives the market on a day to day, but I think it's very, very tough to turn around and say they don't drive the market on a single day event. And Powell started talking. He started talking about a potential scale back, right? Scale back in rates, maybe hinted of a 50 basis point for the December meeting. And you know, they just wanted to kind of stabilize. And that's kind of what the market got out of that. And from the market that pretty much did nothing for the last couple of days, that changed very, very quickly. And you know, we were sitting at the bottom of the range, sitting at the bottom of the range. They held up the market a couple of times today. They attempted to rally the market a couple of times today. But as soon as Powell started speaking, and this was, traders took this as bullish, right? Bullish that, you know, we have, quote, unquote, inflation at least tamed, right? I'm not on the control, but at least tamed. Well, you know, the fuse was lit, right? The fuse was absolutely lit. And everything that we've been talking about, you know, for the last two weeks since the CPI highs. Remember, that was the last Fed event that really drove price action. So from the last price action Fed event, the CPI came today's comments. And I mean, you're talking about a move from the cues from 280 and change to 294 is after hours to almost 294. Just absolutely amazing. And the craziest part about it is, right? If you really think about it, we went literally from the bottom of the range. And I said this today, you're right. Pretty much a couple of hours ago. We literally went from the bottom of the range to the top of the range, about an hour and a half, two hours. That's absolutely insane. Considering the top of the range here was 293.30. And the bottom of the range here was 279. We literally in an hour and a half took down 99% of this range on one candle on Chairman Powell. And again, that boy is mean. He's a mean guy, man. He's a mean guy. They're talking about the meanest people of all times, right? The Mike Tyson's of the world. Yeah, this dude, nobody can mess with Chairman Powell. This dude is just on a different, different level. Panic. I think that's the best way of saying it. Panic short covering from the speech, lit the fuse, and pretty much any stock that you were looking at at the top of the range, only about a week ago that you said alerts for. Remember like, all these names that we constantly talked about, right? ISRG, right? ISRG and Tesla, the big double top on Tesla. Remember we talked about that whole, that whole 88 and a half, 89 level double top. Anything, right? Netflix, everything when nuts, one by one by one, right? So if you do your charting tonight and you look at every single stock, especially in the NASDAQ 100, you'll notice two things. Either a stock is approaching its CPI's highs or the market is taking it through. So for example, Netflix, right, which had a ridiculous move today, right? It broke out above this 293 level that we talked about in Nausia for the last couple of weeks. Now it's literally $2, $3 away from the CPI highs. A name for example, like Morgan Stanley, right? Morgan Stanley, beautiful looking chart, broke out today. ISRG, we talked about that 360 level, right? The 368 level broke out today. The Q's and a single engulfing candle took down this whole channel. Look how many days it took out in basically two hours. One, two, three, four, five, six, seven, eight, nine, ten. That's two weeks of worth of distribution and closed above the 1115 CPI highs. So you could imagine everything went absolutely nuts. It didn't make a difference what it was. They all went nuts. And now the question is what happens next, right? Can you do it again? And as they say, right? As they say, Christmas is back on. Christmas didn't look like it was back on only a day or two ago. They started piercing through the bottom channel, especially yesterday when they started losing the bottom control. But as they say, there's no greater, right? There's absolutely no greater reality show than the stock market that's not on television. There's no scripted actors. There's no scripts. There's just a lot of emotion, a lot of price action. And again, remember, the market doesn't have to make you whole. It doesn't have to make you anything. Okay? The market is there to facilitate buy and sell orders. And sometimes there is a massive catalyst and his name is Jerome, the stud Powell. And that's it. That's kind of where we are. So the question is what happens next? And that's our job to kind of figure out, look, is it possible? Because when you look at the total numbers today, I mean, they were pretty, you know, pretty exaggerated, right? You got, you know, the Dow up 2%. You got the Russell up 2.7%. You got the S&P up 3. And the Nasdaq again, with this two-week engulfing candle, one up 4.5%. So look, is it possible, right? Is it possible we have an inside day tomorrow, the market rests on Thursday and it kind of resumes on Friday? Of course it is. Again, the market needs to rest. Like just like we had this really, really big, massive 10% rise in four days after the Qs reclaimed the 50-day moving average. So look, there is a possibility. But the good part is if they do confirm this top of the channel, you see here guys, right? If the Qs do start reclaiming the top of the channel here, the 150-day moving average and start reclaiming this, you know, 293.5, 294 level, then you could see how much room we have. Again, that doesn't necessarily have to be in one day, right? It doesn't have to be. But the point is there is a channel and if it starts confirming the 150-day moving average around the 294 area, then there's room all the way up to this 298, 299 area, which could be absolutely massive. If you look at the SPYs, right? If you look at the SPYs, they did exactly the same thing, right? They took down that 403 level. They took down that 403, 403, 403 again. Same thing happened with the SPYs, right? They were looking like death. Look at this. They were looking like death. They were 50, 60 cents away from yesterday's low and Powell started speaking. I mean, they destroyed that 403 level, right? They took out the 403 level. Think about this. They went, just to give you an idea of how exaggerated today was. The SPYs went from a low of 394, right? This is in one candle. Remember, every candle here on my screen is a 60-minute candle. So one candle, we went from 394 to 400. The next candle went from 399 to 403, right? 403 was the macro area of the CPI highs. And the next candle went from 403 to 408. I mean, that pretty much speaks for itself. Every stock confirmed today. If they didn't confirm today, they're probably going to confirm it in the next couple of days. And the question is, and the old question that it's impossible to answer until what happens is, can they do it again, right? It's like the person that comes into the casino and puts in a nickel into the slots and hits for 500 bucks, right? You're not a professional gambler. You just want, do it again, right? Do it again, do it again, and do it again. And that's kind of the message right now for the bulls. Can they sustain this move now that we held basically two weeks of worth of distribution in the hell? Nobody's going to turn around and say, this is so easy. Everybody saw it coming. Hell no. Hell to the no, right? But it's here. And that's the most important part. It is here. A lot of our favorite names confirmed today, Netflix. You know, let's go through them, right? Let's go through them. Let me just show you what's on tap for tomorrow, right? You got Tesla finally taking down this, finally taking down this 288 and a half to, excuse me, 188 and a half, 189 level that we've been talking for a couple of days. Stock exploded here. First close above the 20-day moving average. That's a big deal. Your next area of interest is this 200 level. Again, we'll see what happens there. There should be a pretty good sneaky pivot for us if the market has a day to rally. Look at Netflix, right? And Netflix has been the biggest. If you can make the argument, Netflix basically started the rally, right? And Netflix was definitely the first one out of the gate today. Biggest strength on the board. Continue the rally. This thing is only, what, three, four points away? Amazon looked like grim death today. Amazon could just not even rally today. Right, guys? We're watching the tape. Everybody's watching the same tape. Amazon looked like it was about to take out yesterday's lows. We're like 30 cents away. Look at the move on Amazon in the left. Look at this move on Amazon. This thing went from 91 to 97. I know it doesn't sound like a lot, but the way Amazon trades, right? Think about this. It had a 24-1 split, right? You had a seven-point move. That's the equivalent of putting up a $140 candle pre-split. That's very, very impressive. Again, you could see Amazon stopped right at the 20-day supply. If it confirms in the next couple of days, again, which room you have? You have room to 101. That looks great. I mean, there's a ton of names. Meta. Look at Meta. Meta's not usually one of my go-to names, but look at Meta. Meta is ready, right? Meta is ready to take out the CPI highs and attack the 50-day moving average. Apple that looked like grim death today, right? Absolute grim death today. There's no setup on Apple. Just wanted to kind of bring that into your attention. But you kind of get the point, right? You got in the video about the test macro highs. You got Boeing that's about to take macro highs. I mean, everything is set up. The question is, can the Bulls do it again, right? And our job is to get prepared for them doing it a day, too. In a perfect world, what we would like, what we would love, right? If you don't have a runner overnight, in a perfect world, we would obviously love a little bit of profit-taking, right, at the open, just to kind of trap shorts. Tomorrow would be a day that if there is weakness, tomorrow is the day you do want to buy stocks on rising 60-minute support because so many of them broke out, including the QQQs, including the SPYs. So if we do have a light open today, anything that broke out, like, for example, Tesla broke out today, right? Tesla broke out above that 188, 189 level, you want to buy it tomorrow on the rising 60-minute support. Again, obviously, everybody who's in the webinar, please get to morning strategy early tomorrow. Obviously, identify these rising levels, but just in case they do gap up, right? They do gap up. Unfortunately, we're going to have to start looking at opening range highs or for aggressive traders, five-minute, right? Not the 60-minute rising support plays, but the five-minute moves into an intermediate support. So that's it, guys. We're pretty much set up for tomorrow wild market. Nobody could have possibly predict or anticipated today, but once Powell started opening their mouth, well, everything. If you looked at my, you know, and I set a ton of alerts, right? Here's my, like, alerts thing. I had no joke, 16, 17 alerts set for. That's how much, how quickly, how aggressive things got. It may as you can imagine, you have a $13 candle in the Qs in two hours. Yeah, everything would start confirming, and that's kind of what we saw today. So, guys, I have to cut this a little bit early. I have to bring my daughter to basketball practice. Guys, please get to morning strategy early tomorrow for all you guys who are on the Squawk Box as well. Let's see, right? Let's see. But we're definitely set up for a day two. Let's see if the Bulls can find love again, and now keep it. Guys, God bless. I will see you all tomorrow. Take care.