 It's very, very tough. Again, at least for the technology names, it's very, very tough to turn around and say, I love the tape for Monday and the technology names. I'm super duper bold. However, 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 evening, everybody. Welcome to another edition of The Access to Trader.com. We can update show, hope everybody is doing well before we even get started. I want to wish all the great moms out there a very, very happy and wonderful Mother's Day weekend. You guys are awesome. You guys are the backbone of every single family. You just wanna acknowledge all the terrific moms out there and hopefully you guys are blessed with a wonderful Mother's Day weekend. So that's that. So hopefully you guys will enjoy your day. So let's talk about the market. If you guys remember for the last week or so, right? I've been pretty much sell buys based on the activity on the semiconductors. Now, if you're watching this video for the first time, what I mean sell buys, I'm not sell buys in the whole market. I trade technology primarily, that's my sweet spot. So when I'm speaking about weakness in the market, I'm speaking specifically to the technology space. And there was absolutely no group that was clear for the weakness in the market or the up and coming weakness in the market. That was the semiconductor. So this was the group that really led us up for the last two, three, four months. And this was the first group that started declining. And why was this important? Because well, a lot of the semiconductor names if you've been watching this video throughout the week, they spill over. It's a cross reference effect to the NASDAQ 100, the QQQs. And once the semis pull in, just because they represent such a dynamic and important part of the cues, right? They're gonna drag the cues down with it. So what we did see was a pretty, a lot of really good trading opportunities, especially the beginning of the week into the middle of the week, the semiconductors got below the 50 day moving average. And again, we had two really good days of downward action. There was some really aggressive pivots. And they did exactly what they were supposed to do over that time. And if you guys have been watching the videos, you guys saw, I mean, I loved the video and it got absolutely destroyed. It was a really, really great pivot all the way down to the bottom channel here. A lot of names that you can go through the whole semiconductor space. And they did take down a lot of names with it. And if you combine that, right? And just kind of the reasoning for all this weakness. And you combine that with the heavyweight technology, names that everybody loves, the fund managers want to own, the index managers want to own, the Amazons, the Facebooks of the world, Tesla, right? Facebook, Tesla, Microsoft, Apple, Google, they all got taken down on earnings. And a lot of the earnings were very, very good. So there was a lot of weakness. And at the same time, the Dow was doing incredible, right? We had a lot of names, especially in the retail space, the Costco's of the world, the Home Depot's of the world, right? They did very, very well. So it did really show how much main street America is coming back, whether it has to do with the stimulus checks that went out or whatever the case may be, but you can see the companies that were benefiting really the most. And the Dow, again, like I said, it doesn't take a lot for the Dow Jones Industrialists to move up. They're gonna move up, there's only 30 stocks. And it really did show at the end of the week because you did see the Dow up 2.7% of the week, very, very strong showing by those companies, which is good, long-term effect, it's good. Retail needs to be spent, mom and pop on Main Street America needs to stimulate the economy. And the stocks that represent that group obviously benefit. You know, Walmart, Home Depot, look at Costco, we talked about these companies many times throughout the week. They were very, very strong as well. You had the metals, going nuts, FCX and Letter X and a lot of these names. So there was a lot of value if you didn't trade technology to the long side. All the value and technology was to the short side. And the one thing is about the market is I was waiting for that kind of like that crescendo for Thursday into Friday session. And basically what I wanted to see was a move back to, at least back to the 50 day moving average around that 324, 325 level on the Qs. This is, and the reason why this is such an important test that this is where the whole breakout started from all the way back on March the 31st, right? So it was a very, very important level. And the problem was we never got there, right? And the reason why that was such an important level usually when you have a turnaround, right? There's usually a level that needs to be tested. Now somebody can turn around and say, well, they did hit, they did hit the previous channel that 33, 21 level. I get it, I get that part. But usually you wanna see an area get tested where the breakout started from, where the supply got reclaimed. And we didn't get that. So when the market started rallying, and this is what I mean by literally the market started rallying in the last couple of days, you really didn't have a really good feeling in your belly of what was gonna happen. And we started seeing more news come out to kind of emphasize weakness in the tech space. You guys remember two, three days ago, Tesla came out and they said, look, we are in demand just through the roof, right? And you woke up, it was, I think it was Thursday morning and you woke up Thursday and you're like, I, based on that news, I thought I was gonna see Tesla 30, 40 points. You saw a pre-market was up six, seven points and right away they pulled it, took down the stock and all those put buyers, we were talking about early in the week, those really, really aggressive put buyers, for example, in Tesla on the weekly 650s, they got paid because that's exactly was the low of the weeks. There was a lot of struggle in technology and slowly but surely we kind of reverse course on Thursday and came into Friday's session. And let me, let me give you, let me share my thoughts on Friday's session. Okay. I thought Friday's session was probably one of the oddest sessions I can remember pretty much in the last calendar year. And the reason why I say that, the Dow is obviously strong. We just talked about that a few minutes ago about the names that were driving the strength in the Dow Jones. But the reason why Friday's session was strong, you had this really, really big gap up on not so great economic numbers, right? The worst part about that gap up was, and especially names like Amazon and so forth and so on, that most of those names, they gap pretty much into supply, right? And you can see this, this is pre-market into supply. And based on how we were seeing how the technology names were being sold throughout the week, I tweeted out the first thing, if you go to my regular Twitter account, I said, there's a good chance that if you got along pre-market, you probably saw the days high. I didn't think in my wildest dreams that Amazon was gonna pull 100 points from the pre-market highs. I didn't think for a second that Facebook was gonna get pulled from where? From 326 all the way down to 318. And that's what you continuously saw in the technology names. And when you look at the scoreboard, right? When you look at the scoreboard, you see where the queues exactly closed. They're right in between. So they got rejected off the 10-day moving average, which if you've been watching this video for years, you know that's kind of quote, unquote, the birth of the trade. But yet they reclaimed the five-day, which is the short-term sentiment. So we're kind of in the between. Like we're literally on between. We're not at the highs, we're not at the lows. And we obviously have a clear area to reclaim if you're on the long side of the queues. Any close above 337 is bullish. Any close below 331 is gonna resume selling. So we know the lines of the same. We know what we have to reclaim. We know we need to breach. We know what we have to get to. But if you look at the areas, if you go through your charts for Monday morning, it's very, very tough. Again, at least for the technology names, it's very, very tough to turn around and say, I love the tape for Monday and the technology names. I'm super duper bullish. However, and this is the glass half empty, the stocks that led us up, that also let us down, when the semiconductors, right? And if you look at the SMHs, the SMHs put it put in their bottom, right? They put in their bottom, at least short-term bottom of this rising wedge that we talked about in previous videos. And they got rejected off the 10 day, but they didn't sell off. And if there is a bright side to Monday's session, yes, there's tons of names that I do like, for example, on the technology space, but they have nothing to do with data. However, the semiconductors do have some life. So if, in my opinion, if there is going to be a rally into next week, or at least technology is gonna wake up, the group that led us up, then the group that let us down is going to start looking up again. And if you start going through semiconductor charts, you're going to see a bunch of value, right? Texas instruments got above the 10 day moving average, right? That's super bullish. LRCX, right? Another name has been doing very, very well, got rejected off this channel, but if it starts reclaiming, could start moving back higher. If you look at Maxim's chart, right? Maxim is getting stone throws away from the 52 wheat highs and the video that we had a pretty decent pivot in the webinar from that 490, excuse me, 595, 3995 error, I forgot what each one was, went right to supply here close to the 600. So in the video, if it wants to break down this whole downtrend, it really needs to reclaim the 10 day moving average, quote unquote, the birth of the trade. So there are things that are out there that you could at least see the light at the end of the tunnel for what's going to spark a technology rally. So if it's going to be anything, my advice, start looking at the semiconductor names because at least they have charts that look like they're about to wake up, they just need that confirmation. Because if you look at everything else, for example, like an Apple, it kind of is a no man's land. Facebook, Facebook had an opportunity to reclaim this channel, got rejected and went lower. Amazon is a complete mess, right? Absolutely complete mess. You look at, for example, like a name like Microsoft that had a pretty good quarter, but they sold it off, they gapped it up and got rejected off the 10 day moving average. So that's the fine line. If you're looking at charts today, start looking at those names, they got rejected off the 10 day moving average. Because if technology does wake up, and that's a very, very big if, but if technology does wake up this weekend, or at least excuse me, this week, right? Every single one of these stocks has to reclaim the 10 day moving average. And if you look at NVIDIA, Microsoft, Apple, they're kind of the same thing, LRCX, Texas Instruments, they all have kind of the same thing. But as far as a broad market rally, as far as aggression, the one thing that I did not like on Friday, and which a lot of you guys who do trade technologies that trade in the options market will kind of know what I'm talking about. There was no big bets. There was no big bets for this week into technology on the call side. There was absolutely no big bets. And my whole thing was, I felt like Friday's session was forced, right? I felt like a lot of names were kind of moving, and then they had these really aggressive polls, the really aggressive rep polls in the middle of the day, but they kept on moving back to the high, kind of the high of the day. So it felt a little weird for these tech stocks to kind of especially moving off a bottom, not getting option flow for this week. So it's something we definitely have to, you know, kind of watch for this week. But look, are there names that are setting up for this week? Absolutely. So going into this week, I want to be bullish, right? I want to be bullish on technology, and maybe the semiconductors will finally kind of wake up and pull everything up. But at the same time, I'm not naive. I saw what happened with Amazon on that poll, with Facebook, with Apple, with Alibaba, with, I saw it, and so did you guys as well. There was no participation from the Fang names. There was no participation from the Wall Street darlings combined that with lack of option flow, very, very tough to get excited. Is that possible to change this on Monday? Absolutely. So that's why at least I want to give them the benefit of the doubt. But if they don't rally, especially in the first two candles of the day, and we start seeing notable weakness, then obviously we're going to want to start switching back to the downside and start looking for the downside pivots. So let me give you guys some ideas that I like for this week. And it's not going to be any dull coin, okay? I think it's kind of cool, right? I really do. I'm not a crypto guy. I think even the people who are long, these dull coins and all that stuff, I think everybody acknowledges, eventually this thing is going to pop. How high can it go? God knows. I mean, last time I think I saw somebody talk about it, it was in the 60s. Is it possible to go so dollar? Who the hell knows? But my advice to you, just like with any artificial insemination, I say that the nicest way, the PG version, any artificial insemination, sell when you want to, not sell when you have to, right guys? Again, I know a lot of people looking at these things just like once in a lifetime, I'm going to be set up for the rest of my life, but most of these things don't transpire or play out. So again, guys, the best piece of advice, sell when you want to, not sell when you have to. So let me give you guys some names that I do like. I kind of like this GBTC. I'm not obviously a Bitcoin guy, but kind of sticking with the whole crypto Bitcoin thing for you guys who trade these things. Keep an eye on this thing. See this whole channel here, like this 48 and a half, 49 area? Keep an eye on it. Keeps on getting rejected off the 50 day moving average. If GBTC, any close over 48 and a half, who knows, maybe goes back to the high. So I do kind of like that. I like Comcast CMCSA. That's a pretty nice looking chart here, long distribution. Again, is it going to explode to $3, $8 in one day? No, remember guys, there's a reason why people trade beta. There's only 10, 12 stocks that could put in those type of moves. Everything else is going to take some time, right? So a name, for example, like a Cleveland Cliffs, look how long it's taking to get above this channel and start moving. This is like day four of this move. And the stock is only up like 10, 12 cents above this range. So everything else that's not beta, you really have to almost swing those stocks and using the previous days low as your stock. Because there's a reason why Netflix could go up 12 and Amazon could go up 70. There's institutional money flow. There is no retail participation. It's algo-driven and there's an area that the market, a volume area in the market that kicks in when these algos kick in. And that's why you're getting these really aggressive moves. Everything else, you need some time, you need some patience. So if you're trading like an example, like a Cleveland Cliffs, an anticipation that you're just going to put up a Tesla move, you're going to be sadly disappointed. And that's why beta is beta and everything else is everything else. And this is why I trade beta. Because I like those possibilities and probabilities of a potential $7, $8, $9 move on one channel versus fighting with a stock for 30 cents for three weeks. Again, to each his own, not everybody wants to trade beta, but again, this is the primary reason that a lot of us do just because of the instant gratification and institutional money flow combined with the option flow that make these things really take off. But there's some names that look pretty good. Let me give you guys some names that I do like. I kind of like this Funko, right? At a really, really big base, really big, big base, highest close in this area. Keep an eye on this thing for Monday, either red to green or opening range high. This looks good. The semiconductor space, like I said, there's a lot of those names. Let me know. I like this NXPI. NXPI looks good. If it could confirm this channel, I like NVIDIA. Obviously, NVIDIA would be my favorite semiconductor if it could reclaim the 10-day moving average. Tesla's a no man's land. I kind of like this little ATOS. I usually don't put a lot of small cap names in there before you guys who watch the options market. And again, I don't know if they have any type of FDA thing or earnings, whatever the case may be. But we've been watching this thing and there's tons. I'm talking about tons, repeat call buyers going into the summer months for the five, the $7 expiration. This is the first close in this, the highest close in this formation. Keep an eye on this thing for this week. If this thing starts going, who knows? Maybe you got lucky. Maybe those call buyers, you know, somebody knows something, who knows? But this thing definitely looks pretty good and you might see a push into the three. So a mom's have an awesome day. Everybody's the best. We only have one mom. We love our mom. We'll do anything for our mom. The most important person in our lives that gave us life, that gave us happy, that gave us the ability to act as a functional adult. So mom's out there, happy Mother's Day. May the best things ever happen to you. And with God's help, folks, I'll have a great weekend as well. And for the rest of you guys, I'll see you all on the field on Monday. Take care, have a great weekend.