 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, giving everybody, welcome to another edition of the Actions of Trader.com Nightly Wrap-Up Show. Hope everybody is doing well. If you are brand new to the channel, as always, we appreciate your viewership. Please like, share, subscribe, tell a friend all that good stuff so we can keep the unbiased technical analysis moving going. So let's talk about the tape, right? You know, nothing on the surface. If you watched last week, you know, yesterday's video, again, no news is good news. The market continues to kind of grind higher. A lot of people are comparing this into like an August type of rally, a slow, lethargic, you know, melt-up. You know, call it what you want, right? The action has been really, really good, even on days that the market takes a rest. Stocks are still holding up. And if you look at the leaders, right, and that's what everybody's going to always turn to. If you look at the leaders, nothing is wrong, right? Absolutely nothing is wrong. Apple continues to be on an absolute monster run. Huge run, right? Microsoft continues to be on an absolute monster run. All that stuff. All the goodies, right? Netflix, all the good stuff. Meta just keeps on going higher and higher. There's some things I like to kind of look at the market a little bit differently. When things get a little bit stretched out, and again, you can make that case, the market could go higher. And of course, I'll always be on that side of the ledger until the market gives me a technical reason. We'll get to that in a second. Why I think maybe you could be a little bit more, not worried, but a little bit have an opinion, a little bit cautious. But I've always said anytime something starts feeling a little unnerving, right? The means of something's there. And I go by the theory and the mantra of I'd rather be, you know, I rather sell a date early than sell late. And if you've been watching this video in a long time, my big mantra is sell when you want to, not when you have to. And I start looking for clues, right? And I start looking at the leaders and I want to see what they're doing. Like I mentioned, Apple, Microsoft, Netflix, Meta, they're absolutely outstanding. You start looking at other groups. And I started looking at the SPY. And if you look at the SPY today, it had its first little crack, right? First little crack today on the five-day moving average. It took out the previous days low and traded right to the five-day moving average, giving the bears at least a definitive line and bulls and vestors kind of giving them a line in the sand to kind of watch what happens if that line gets crossed. But the most important part was when the stocks that had the biggest moves up, right, in the videos of the world, the Tesla's of the world, once they start getting close to that bottom channel and they keep on holding it numerous times, that's when I start worrying. I don't want to use the word worry, but that's when I started going a little bit more defensive in my long positions and start looking for more aggressive positions to the downside. Because again, no matter how strong the rally is, and this has been a phenomenal rally, and I'm just using the video here as a case study, you know, and the video has gone from 140, right, from the January lows from 140 to 280. That's a hell of a rally, right? But if you notice in this hell of a rally, it had points of interest kind of like this when it kept on holding the same area twice in a row, and then the next day it fell and the next day it followed through. Same thing here, right? It started getting heavy, held the bottom channel here a couple of days in a row. Next day it went down, same thing right here, right? Got heavy a little bit, held the same channel here a couple of times in a row and fell down. And that's kind of what we're looking at. And the last, actually the most recent point of view was, you see, I was, you guys remember a week ago, I was just sitting here holding the 5-day moving average and the next day it confirmed and went lower. And that's kind of what I started noticing on, you know, several stocks. Not only stocks, I started looking at that on the QQQ as well. And this is kind of where I want to be a little bit more responsible going into tomorrow's session. Even if there's strength and there's, you know, there's definitely some names that I do like. If you guys remember from yesterday's video, Roku had a great... Roku, RBLX had a great, great breakout yesterday. Today it continued, went up another $1.50 before it kind of got hit a little bit. Google was great, right? Got above the 304, confirmed 305, went right to the linear aggression line at 105. 70s again, I still like this thing. Even Amazon woke up, right? We talked about Amazon last night in the video. Amazon woke up, they came in with a lot of 105, 106 calls for next week. So there's still a lot of things that are very, very juicy in this tape. You look at snow, had an incredible run today as well, very, very strong. So, you know, it's not going to stand out, right? What I'm talking about tonight, it's not going to stand out to a lot of people. And most people are probably not going... Unless you're watching this broadcast or in the live webinar with us, you're not going to really focus in on the focal point of, hey, by the way, we've held the bottom of the range now two days in a row. It might be something, might be nothing, but most people won't know it's there. And here's kind of the point of interest, kind of what I want to talk about for the next couple of days. You see the low here from two days ago. It was 1740, right guys? On the Qs, 31740. If you look at today's low, it was 1780, right? Both days, hug the five-day moving average. That's, you know, that's the orange line. For me, again, if you're a brand new viewer to this channel, again, welcome. But for me, the five-day moving average is the shortest point of who has controlled the shortest point. Sentiment of strength and weakness over the five-day bullish, below the five-day... I don't use the word bearish, but at least a sell signal, so get a little bit of relief action from both sides of the market. And you can see here on both sides, both days in a row, we touched the five-day moving average twice. The same way we touched the five-day moving average here, actually four times, right, on the previous move and next day follow-through. So guys, write this level down, right? You see this whole 1714 level, right? 31740, write this area down. If the bearish start taking control of that 31740 level, there's going to be a back test to the rising support. Again, if you believe in the theory of stock straight from supply to supply, well, that's the whole point of the PS60 theory, stock straight from demand to demand. So if this is demand here on the five-day moving average, the next demand is 313. Again, nobody is calling for Armageddon. The both thesis is still very, very real, and most stocks are still behaving incredibly well, as I say every single day. It might not even happen tomorrow, right? We could be having a conversation tomorrow, hey, the market, you know, again, same thing, the market went higher, right? But again, our job as traders is to be prepared, right? Always be prepared for the worst, hope for the best, prepare for the worst, and make sure you're not caught between a rock and a hard place where your pants blow, your ankles, and a lot of people, you know, they're going to be technology investors, and if they don't know this 31740 is an important level, they're just going to keep on buying stock, buying stock, buying stock. But the point is if they do lose this level, we should get a pretty aggressive back test to this 10-day moving average of 313 just to be prepared, right guys? That's it, just to be prepared. It's our job to be on guard, and as I say all the time, lead with your shield, right? Not with your chin, right? So it's very, very important. We talked about Tesla yesterday, right? Tesla, we talked about, you know, their delivery numbers came in. Some thought it was good, some thought it was bad. I was watching to the downside today, caught a scalp in this thing. Again, there was a lot of support here. It held the 20-day moving average. That's what we talked about last time in the video. But I think we have to watch this thing for the next couple of days. This 50-day moving average, you can see here, the last time it tried to, the bears tried to reclaim the 50-day moving average, they did so and then Tesla reclaimed and started rallying back. We're very, very close to touching the 50-day moving average, okay? And again, it might be a setup for tomorrow, might not be, but I want you guys to at least, especially for all you guys who trade Tesla or Tesla investors, at least you guys should be at least on alert that, hey, if this thing closes below the 185 level, right? The 185 level is, this is not at 185, my brain's frozen. If it closes below the 50-day moving average, 185 is irrelevant. They have all these support zones, I don't know where I got an 85 from. But if it closes below the 50-day moving average, again, as we say all the time, whoever has control of the 50-day moving average probably has control of the next move in that direction. So be wary, if Tesla loses the 50-day moving average, we can have a pretty good scenario for a couple of days set up in a row for a potential multi-day move. So that's definitely, definitely on the table. Today, the banks got hit, right? We saw a lot of put buying coming in with banks. As soon as there is a downtick in the market, people are screaming, that's it, that's the top, here comes the banks again. Banks have been getting hit, guys. Hate to break it to everybody. Banks have been getting hit now for three weeks in a row, ever since this whole SIVB started. In the same time, the keys, in the same time, literally the keys have gone from 293 to 321. So the banks and the technology sector are just not correlated. As much as you put pins in your voodoo doll and hope the world ends and the sky is full and everything else, they're just disconnected. There's nothing to do. But you do have, for all you guys who do trade the banks, be wary, right? Be wary. Today, Bank of America, a lot of put buying we saw. The Citibank, a lot of put buying we saw. They're not yet at technical damage. If you see Citibank, it's still above the green line, which is a 10-day moving average, that's the birth of the trade. When you look at Bank of America today, Bank of America lost the 10-day for a split second and then reclaimed it on the close. You look at Goldman Sachs, right? They did the same thing. They held the 10-day moving average. If you are trading banks, watch the banks, right? Watch the banks. If they start losing the 10-day moving average and you believe that's the birth of the trade like I do, then you're going to have some problems, right? If you're investing in the banks, you're definitely going to have some problems going into the next session. But for now, even the bulls in the worst stock and the worst group of all, the banks, they're still holding key levels and avoiding technical breakdown. Going into tomorrow's session, look at names like NVIDIA, right? NVIDIA is mirroring... NVIDIA is mirroring the NASDAQ 100. As the QQQs sit there on the 5-day moving average, NVIDIA is sitting there as well. Again, like I said, maybe it's something, maybe it's nothing, but isn't it our job to be completely in a position to be prepared on both sides? So watch NVIDIA. This thing starts losing the 5-day and the 10-day moving average. There's a lot of room down. Again, we're watching Tesla as well to the downside. To the upside, Amazon looks really, really good. Busted out today on this little baby consolidation channel. We talked about this last night. Google continues to act really, really well. It hit the linear regression line today. It hit the Bollinger Band today and got rejected, but it's acting really, really well. Maybe so that there's some more upside if the market continues. But names like Tesla, NVIDIA, the QQs, I'm definitely watching to the downside because, again, if there is a chink in the armor and we start confirming down below the 5-day moving average, everything will get pulled. Don't be naive and don't be arrogant to think that your long bias position that you're in looks good. If the QQs get pulled, I promise, if it's a member of the Nasdaq 100, it's going to get pulled right with it. So that's it, guys. Have a great night, everybody. God bless everybody. Tomorrow is Wednesday. Hope everybody's doing well. Have to be healthy and staying in business. Guys, God bless. See you tomorrow.