 the market is not in sell-em-all, the market is not in buy-em-all right now, we're kind of in digestion mode, kind of a scenario of a marathon. 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 theAxisToTrader.com, a nightly update show up everybody is doing well. It's been about five or six days since I recorded a video. I pretty much used the long Labor Day weekend to kind of just to just put everything to the side, decompress, take a deep breath, enjoy some life, just take some time off, regenerate the brain, and come back strong on Tuesday, hopefully you guys had an amazing Labor Day. This is towards the end of summer although September 21st is the official end of summer, but my kids start school I think tomorrow or Thursday, and I'm sure like the rest of you guys already started or are about to. So summer almost in the books, but ultimately again, it is what it is part of life and we take the good, bad, and the ugly. So let's talk about the market before we begin, if you are brand new to the channel, like, like, subscribe, share, tell a friend, all that good stuff. Again, we try to give the most unbiased opinion on the market, not from a three week hold, a three week view, or a three month view, or a three year view. It's basically day to day, right, because the market is such a fluid situation, there's so many different components, moving parts, and different wrenches that could be thrown into the mix that it's very, very tough to try to predict, to try to be smart enough to understand what happens the market does. We just try to take the data in and make a game plan on the next day of trading. So last time we spoke, the cues, do you guys remember, reclaim back the 50 day moving average? That's a bullish thing. Again, we talk about this on the channel a lot. Over the 50 day is bullish, below the 50 day is bearish. Again, the market doesn't need to go up every single day. Above the 50 day in the market, it doesn't need to go down every single day, below the 50 day. But the point is, it's a general direction in that area, and you can see that the cues had a great, great run. They had, as soon as they reclaimed the 370 level, we went all the way up to almost 381 in four sessions, and now we're just kind of just unwinding a little bit. That's the best way of saying, the market is not in sell mode, the market is not in buy mode right now. We're kind of in digestion mode, kind of a scenario of a marathon runner just finished 26 miles, finished the marathon. No matter how great that marathon competitor is in its shape, feels good about themselves. You just got to be tired after a 26 mile run. That's exactly what the market is right now, just a little bit tired. Again, we talk about a healthy pullback would be a good thing, but the longer they consolidate, the better, the higher probability will go higher. The more important part is for the cues from the dynamic, a macro point of view, the longer, as long as we keep on closing above 370, which is the 50-day moving average, that's a good thing. You'll definitely see days that the market is going to pull in and it's going to look like, well, that's it. This is the end of the rally. It's not. The end of the rally happens when you lose the 50-day moving average, and what we've seen in recent, just recent memory, when we lost the 50-day moving average last time, we only had a five-day sell-off before we started rallying back up. Right now, we have a four out of the last five days of buying after reclaiming the 50-day moving average. As long as we continue to close above 370, it will be deemed bullish. SPY, kind of the same thing. Kind of the same thing. A little bit heavier here, as you can see, the SPY lost the five-day moving average today. Is it possible it has one more day of a back test, back to retesting the 50-day moving average? Sure, absolutely. Of course, it's possible. Diamonds, if you look at the diamonds that are correlated with the Dow Jones, the Dow Jones close right at the 50-day moving average. Is it possible to get one more yank into the tension? Absolutely. Again, the market needs a little bit of a breather. The one that is notably weaker is the IWM, is the Russell. This was definitely the lagger of all three major indexes, and this is the one that was down today, 2%. When NASDAQ pretty much down, NASDAQ was down literally at 10 points. While the IWM was down 2%, you can clearly see the speculation money aspect of the market is not a good thing. Again, it's very, very tough to turn around and go, we want to be long everything going into tomorrow. But you'll see, and the reason why I left the options flow monitor, you'll see, despite a little bit of consolidation or a little bit of tiredness in the market, you'll see that they are starting to come with out-of-the-money calls and a lot of your favorite names. A lot of the cult classic names will get to them in a second. But again, orderly pullback is very necessary. It's much appreciated. It's much needed because, again, the last thing you want to do, we started talking about this in the webinar towards the end of the week. The last thing you want to do is have a market that just goes straight up. As much as it seems cool and it feels great, even the biggest bulls start to turn around and go, hey, this is too far, too fast. I want to kind of move my money into the sidelines and see what happens next. But again, so ultimately, very, very healthy so far. Again, it would shock me if we get another day or so of the market pulling back in. No, no, that's again, that's a healthy thing. The cool thing about this market, a little bit of digestion, a little bit of distribution is you're still getting strong names. And that's kind of what we left off of you guys from the last Wednesday. I said, even if the market rests, you're going to start seeing other stocks trying to get a back about above the 50-day moving average. And that's a very, very good thing. And if you look at a lot of names, especially the cold classic names, you'll see a very similar theme here. Apple got above the 50-day. Again, the market rested today. Apple was green. Metta got back above the 50-day moving average. Again, the rest of the market rested. Metta's green. Tesla got back above the 50-day moving average today. Again, a lot of things rested. Tesla was up 11 points. So you kind of get the message, despite the Dow being down 200 points, a lot of these names are starting to wake up. And a lot of these names are starting to wake up with option flow. And that's the name of the game. We could have distribution as long as we want, whatever the case may be. But once you start seeing institutional money flow come back in in those names, those are the names are probably going to wake up. So let's talk about in the video first. And you can see here, despite NVIDIA not being great today, it had a great run, still up a fraction of the day, again, despite the weakness in the overall market. But you could see, look where the institutional money flow started betting today. Again, doesn't necessarily have to go there, but at least to know that the institutional money is aligned in that direction is a good thing. So you can see here, kind of, you have NVIDIA, this guy came in a little less than 100 grand for the 500 weeklies. This guy came in with 60 grand for the 535s. Guys, 535s is 50, 60 points out of the money with 10 days till expiration, right? That's a lot, right? This guy came in for 160 grand for the 500s. This guy came in from two weeks out, 525s, 525s. This guy came in for the 495 weeklies. You can see institutional money flow. Look at meta, right? Meta as well. Look at meta. Not a lot, not as much as NVIDIA, but look at meta. This guy came in for 700, almost 800 grand for the January 340s. That's 11% away. It's a big move. Look at this move here. The February 320s, 2.1 million. The weekly 305s, next week's 310s, next week's 310s. Right? This guy came in at the money for 200 grand. Now, look at Tesla, right? You're not gonna see the majority of the option flow here, but look at Tesla. They were coming in for the 260 weeklies, the 285s for the end of the month, 255s in the money, 260 weeklies. We saw, and again, this mind doesn't stretch all the way down, but if you go through your option scanner, like I used flow out, though, for example, but if you go through your option scanner, you'll see today, they were making massive seven-figure bets per Tesla for the January 300 calls. So that's a good sign. So the longer we have this little bit of digestion, distribution, rest, whatever you wanna call it, but yet their institutional money is still coming in deep out of the money calls, like we've seen with Meta, NVIDIA, Tesla. I'm sure there's others, but that's a very, very good thing. And as long as the market continues to build above the 50-day moving average, especially on the Qs, Qs are the ones I really, I really watch. I don't care about the IWM. I really don't care about the Dow, because the Dow, like today, the Dow was down 200 points, and the majority of these beta names were fractionally green on a day, if not really green on a day like Tesla. So again, nothing materialistically has changed on the needle. Again, as long as we close, continue to close above 370 on the Qs, that's bullish. Once we get below 370, that is a problem. Again, is it possible we have one more day of a little bit of weakness, a little bit of distribution, selling, whatever the case, would be very, very possible. But again, a lot of really good names are still starting to look pretty good for the rest of the week and going into the fourth quarter. So again, today started out a little bit slow, right? Initially I had Tesla and NVIDIA as downside candidates today, okay? Just because the way they closed last week, that quickly changed with Tesla. We'll get to that in a second. But more important, the day started out pretty slow, and then it got faster, and then more aggressive very, very quickly, and actually turned into be a pretty good start to a shortened holiday driven week. So let's talk about it. So Tesla obviously never got to 242. NVIDIA, I was watching for the 481 flush. It got down to 478 and changed, but there was no entry. They brought it down before the market opened. Went down like three points. We never had a chance to trade it and kind of just sat there all day. Lyft never got to the 1280, which I really, really like. Guys, send an alert on Lyft. I don't think it'll get there anytime soon, but watch this 1280 level eventually. It's a nice looking chart here. But here's where things got really aggressive. Intel really didn't do anything. It sat around that 337-20 level before it just dried up. Here's where things got interesting. So Zoom last Friday. Okay, again, there was no video this weekend. But last Friday, they started coming for the September 29th $80 call bars. One after another. Again, it's $8 out of the money. 72.55 needs to build. Zoom woke up today. Really nice move on Zoom. Congratulations for what you guys recorded. It took out the 72.55 level traded all the way up to 76. Big, big move here. I don't know if the people are betting there's gonna be lockdowns. I don't think there will be. I don't think anybody will acknowledge them, but who knows what they're betting for, but really nice move there. IOT 3130 needs to build. IOT had really nice earnings on Friday. It stopped at 3120, reclaimed 3130 and closed pretty much at the highs near 32. This thing looks higher as well. Boeing, I took a little scalp on Boeing. Nothing big there. Traded from the 22 to the 2020s level. Nothing there. But TLRY, congratulations for what you guys have caught. TLRY 316 needs to confirm. Nice move here. You had a really nice move here. At one point, almost a 10% move traded all the way up to 340 before kind of reverse course. Like a lot of names on NVIDIA. Never got 12. NVIDIA stopped right at the five-day moving average. Didn't really do anything. Microsoft was really good. I still don't know what the news was. I got along with IOT 333. It gave us like a $1.70 move. It's a matter of minutes. This is another case example why the stock was really strong as the market was doing nothing. And again, this is the first close above the 50-day moving average. Again, keep this in mind, guys. A lot of big names are starting to really get above the 50-day. Cult leaders, cult classics, really big following, institutional darlings. I still like Microsoft. I want to watch this thing above today's channels but a really nice move on Microsoft. And then Tesla got really, really strong. So five-day supply on Tesla's 254 needs to get above it to stretch. It did that. Tesla put in its highest close from, well, not from last week. I'm sorry. I'm too early in the week. It reclaimed back the 50-day moving average, trained all the way up to 258. Here's the key with Tesla, right? And this is what I want to see. You see this whole channel here, right? We're getting very to the top of this channel here, especially with all this option flow coming in. If Tesla could clear out this top of the channel, and it doesn't necessarily have to do it tomorrow, you know, who knows, maybe it has an inside day tomorrow. But Tesla had a really big, strong day today compared to the rest of the market. Keep an eye on this top of the range. Watch last week's channel. This thing can start clearing out last week's channels. Tesla could wake up very, very aggressively. So definitely, definitely keep an eye on that as well. But a nice little pop here today on Tesla. And I believe that's it. So again, good distribution is healthy for the market. Digestion is healthy for the market. The last thing you want is a linear market that gets pulled on every single downtake of the futures. The longer we consolidate, the better. I know for us traders, we're one of those creatures of, well, what have you done for me lately? Meaning, what the hell have you done to me 30 seconds ago? But sometimes, again, we have to take patients, kind of stay patient, kind of wait for trace to develop. Sometimes they'll develop the next day. Sometimes they'll develop the next hour. But sometimes they will develop in a latter part of the week. So keeping one eye on the option flow market and one eye on the technical levels is only going to help you when they finally confirm. So when they do confirm we're ready, the correlation with the option flow is a plus. And hopefully, good things happen. So guys, thank you for being a part of this 15-minute journey. We are back tomorrow with another video. Hopefully, guys, I had a great, great Labor Day weekend. And hopefully, you guys are happy, healthy, and you're ready for the fourth quarter. Guys, God bless, and I will see you all tomorrow. Take care.