 Google. Look at Google what it did today, right? Google was down 104 points today, but the worst part of this decline is not the 104 points. The worst part of this decline is what could potentially happen next. 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. Just a quick update for September the 28th. Hope everybody is doing well. I got a soccer tournament. My daughter has some sort of state cup soccer tournament opening round game. So I just want to kind of make this short and sweet and get you guys on your way. What a difference 24 hours made? Yesterday you had all these worries, right? Wall worries. You had the debt ceiling. You had the Evergrande. You had everything under the sun that could possibly derail the market, but the market kept on being resilient, right? Resilience is the name of the game. It's been like that for a very, very long time. And yesterday what was strong was technology, especially semiconductors, really rallied off the bottom. You had IWM, the cornerstones of speculation capital, very, very strong rally yesterday. You had names like Goldman Sachs, a lot of the financial names moving higher because of potential fed tapering and rising rates. So everything looked so good yesterday. And again, this is why we always say you could have an opinion. You could have a course of action. You could have a battle plan. Everything needs to be confirmed. That's the most important part of being a trader. You're going to be wrong a lot. You're going to be wrong on your assessment, your opinion, your sentiment. But again, as long as you are not pigheaded and being wrong financially, you're going to be fine. So if you're in this business for likes and shares and retweets, you're doing it wrong. You're doing it wrong. Don't be afraid to have an opinion and don't be afraid to be wrong in that opinion. And the market is very easily in a position to humble you if you are starting to trade against reality. So everything that was strong yesterday kind of went away very, very quickly. Pre-market, you saw a pretty aggressive move down at one point. The cues were down like one and a half percent to start the day. You had explosive rising yields obviously did not help the technology sector. And the question was, can these stocks that have been so resilient over the last several days and just every single shot that they've taken to the mouth? Remember the Rocky Balboa market? Can they again, once again, buy the dip and start going higher? And today was a completely different story. Everything that was strong yesterday, you had the financial stocks, they got killed. You had the Russell, the IWM speculation money, they got killed. You saw the stocks were incredibly strong yesterday, the semiconductors that were leading. And again, this was leading up to Micron's earnings tonight. And when you look at Micron's earnings tonight, obviously you can see which way the direction is holding. So everything that was valid yesterday going into today's session literally got blown up at the open. And the question was, what was going to happen next? And we saw what happened next, right? The market sold off pretty aggressively into the close. And not only did the sentiment change, not only did the narrative change, more important, the confirmation from last week's low of how this whole Evergrande saga started, we confirmed Monday's low. And now we are looking for this 5860 and 56 area to follow to the downside. Obviously, Micron is not going to help things in the technology sector. You can already see a lot of the names that were really weak this morning and really weak this afternoon. Ahead of Micron's earnings are still continuing to slide. And now not only do you have names that are just not here nor there, there's a lot of names that are breaking down. And you could look just through the members of the NASDAQ 100 and see how exactly they're mirroring the NASDAQ 100. You had Amazon starting to break down here. You have one more day. One more day Amazon loses this bottom channel here. Look how much room you have to go. And again, if this starts mirroring the QQQs, you are going to get a very aggressive poll. If Google, look at Google, what it did today, right? Google was down 104 points today, but the worst part of this decline is not the 104 points. The worst part of this decline is what could potentially happens next if the QQs confirm. Again, if you believe in the theory that stocks trade from supply to supply and demand to demand, well here, the next demand zone on Google is 2889. There's a lot of room down. A name like Apple, right? A name like Apple is very close, challenging last Monday's low. A name like in the video, for example, right? First close below the 50-day moving average. If this thing confirms down and follows with the weakness of what Micron just reported into earnings, again, you have a lot of room down as well. Apple, Facebook, right? Facebook, one by one, these channels are starting to either get confirmed to the downside or first close under the last Monday's low. Again, it's very, very tough if you are a bull bias, the buy bias trader to kind of going into tomorrow's session and say, yo, I want to be long. Maybe you will, maybe you won't, maybe you'll be right, maybe you'll be wrong. Again, even a name like Tesla, and we knew Tesla was going to have a little bit of a rest day today. Unfortunately, I made the decision not to get long off the five-day moving average, which kind of sucks because it held the five-day moving average and put up a $9 candle to the close. But even a name like Tesla, who's been on a brilliant, brilliant run, we're still seeing tremendous amount of really aggressive money deep out of the money calls. But the most important part is we're seeing these deep out of the money calls going into weakness. We're not talking about $5,000, $10,000 bets. If you go through your option scanner and it doesn't make a difference which one you use, you're quickly going to see, there are coming in two, three, four, $500,000, $800,000 bets, $1 million bets that they're coming in with some really good institutional money flow on weakness of Tesla. Obviously, eventually, if the market holds up and it starts attacking this channel here, then we can start really talking about a big potential move back to the upside. But for now, it's very, very tough if you're an investor of anything, literally of anything to go into tomorrow's session and be like, well, I'm good, buy the dip, everything will be okay. Yeah, traditionally over your lifetime, every dip has been bought for even going from 1927 crash to the 1987 crash to the .com crash, to the mortgage crisis crash, all these crashes. And yet here we are. So eventually, yeah, as your shares are probably going to be higher 50 years from now, just like history always teaches. But again, there's no guarantee that they'll be up tomorrow. And the most important part is when you are a trader, it's not how much money you want to make. It's how much risk are you willing to expose yourself. And right now, based on what we saw closing below last Monday's low, taking down and the bears taking control back of the 50 day moving average on the queues. And now the question is, even if we have a dead cat bounce tomorrow, the question is, how long can we build a base under the 50 day moving average and still be okay about your portfolio? It's a very, very honest question. I'm not looking to ruffle any feathers. It's just kind of the reality. The longer we stay above the 50 day moving average, the higher we're going to go. Once we start getting comfortable and start making a bed below the 50 day moving average, you're probably going to have a higher probability or shorter term pressure in the equities market. Obviously, the debt ceiling is still on the table. Again, I believe there's been maybe, maybe, you know, eight, 10 stoppages of work for the government over the last X amount of years. Does it really have that big of an effect? Probably not. I think, again, one of the more bigger worries is still going on with this kind of on again, off again saga, what's going on with Evergrande. The rising yields, again, it's going to pressure technology. But the question is, can the bulls fight back? Again, if we get a gap up tomorrow to the upside, I'll be definitely looking for channels back to the downside if they start getting rejected. I think that's what the value is. If we get a gap down tomorrow, well, we have to start looking at more aggressive ranges back to the downside. But if they do start reclaiming some of the levels, then maybe we do have a dead cat bounce. We'll see. Again, you have to be kind of open minded for tomorrow's session. But the names that are just kind of breaking down like we talked about, you know, Facebook, Microsoft, NVIDIA, Amazon potential, again, maybe they'll be higher a year from now, two years from now, three weeks from now. But for tomorrow, based on their clothes, if they do start confirming today's channels, you're probably going to see a little bit more pressure come in. We'll see, right? We'll see is at the blind man. That's the most important part is have an open mind. Don't have any expectations or really strong bias tomorrow. See how the channel is set up, especially after the 10 o'clock channel and see what confirms. Guys, have a great night. Sorry for cutting this short, but I got a soccer game to get to. Guys, have a great night and we'll see you all tomorrow.