 For all you guys who are brand new to trading, if you Google Hammer in Japanese candlesticks, and I'm paraphrasing obviously, it is going to be a signal for short-term reversal. Now that reversal could last. 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. Welcome to another edition of the AccessaTrader.com. Nightly wrap up show if everybody is doing okay. Quite a day today, quite a turnaround today for the Nasdaq Bulls, kind of a talent of two cities. Charles Dickens reference. If you guys remember all the way to yesterday, which we had the weekend video, we continued to talk about the weakness in technology and pretty much everything was being sold, pretty aggressive, nothing was being spared from the leaders, Apple, to names like Tesla, to Amazon got really beat up, especially in the last couple of weeks. And the question was, how aggressive was this selling potentially where's going to happen going into today's session? And we got our answer pretty fast at the open. At one point the Nasdaq was down 300 handles, right? It's pretty big move and your favorite names, more chances than not, probably got beat up not only all of last week, but a spillover into today's session. The question was, where was the bleeding gonna start? Cause we even talked about this in the webinar, eventually you're going to have some sort of intrinsic value in your favorite company. So for example, if you're a Fidelity Magellan or any mutual fund, index fund, whatever, even a hedge fund, eventually something is going to catch your attention and be deemed attractive. Maybe not cheap, but deemed attractive. And that was the only question. So we went through multiple channels. We talked about this whole three, 77 area over the weekend. And when you saw the kind of the start to the day and you could see it, you had a pretty big decline right from the word go. They brought down, they took out 377 like it wasn't even their pre-market. And the next thing you know, opening range lows, you forget about 377. We literally went down from 374 all the way down to 369. Again, that's a big, big move. It's not something that you could just roll your eyes and say, yeah, what's the big deal? It's only five points. Yeah, that's a big deal, right? So the question was, were we going to go all the way back down to test the bottom of the range here or were the bulls and able, or are able to muster some sort of comeback and kudos to the bulls, okay? It wasn't something or earth shattering that we haven't seen before. Apparently the market found its intrinsic value. It found its area that it looked attractive. And once they came back and reclaimed this 374, which was the 150 day moving average, you started seeing some life out of a bunch of names. Not crazy, right? It wasn't to the point of everything when gangbusters up 500 points, but there was a lot of really good progress and slowly but surely, especially towards lunchtime or so, you started seeing a lot of names that were really beat up from last week going into today, starting to get some life. And they started going one by one, which was really, really cool. And the one that really stood out, I think a lot of people are gonna turn around and say, well, that's not a great turn around. And it did, it really, really did. But the one that stood out today was NVIDIA. And the reason why I say that, we talked about this area here over the weekend update, how important that 270 level was. And NVIDIA literally opened up. Literally opened up right here near this rising daily support of 63.1 right through it. The craziest part about it is, as we discussed on the weekend update, going into Friday for this week, if you guys remember, we talked about, there were 260 puts being bought. When the market opened up and the video was getting really hit, we started seeing 240 puts. They completely bypassed the 255s, they went right down to the 240s. And what's good about it is NVIDIA, just like with the Q's, it reclaimed the level. In this case was the 100 day SMA and they completely rebound it. And you started seeing a lot of names doing exactly the same thing. Apple and Amazon, although Amazon never went green, look at the hammer. And that's the theme going into tomorrow's session. This was a 100 point turn around, literally a 100 point turnaround in Amazon. We'll get to the individual pivots in a second. But you started seeing the darlings that were once leaders in the market that were completely killed, finally get a little bit of value. You got a little bit of a turnaround or a lot of turnaround towards the afternoon session. And just the way the Q's put in this major hammer, really, really big hammer for all you guys who are brand new to trading. If you Google hammer in Japanese candlesticks and I'm paraphrasing obviously, it is going to be a signal for short-term reversal. Now that reversal could last three hours, that reversal could last for three minutes, that reversal could last for three weeks. We don't know. This is why we play the game. But at least on the closing basis, super bullish action into the close. A lot of names got firm very, very quick, got aggressive into the close. And now that's setting up a dead cat bounce mark. And the reason why I say dead cat bounce or continued dead cat bounce from today's session for the stocks or the market to deemed to be a rally, they need to reclaim the 50-day moving average. As you can see on the Q's, we're nowhere near the 50-day moving average. The 50-day moving average is around that 293 level. So we're going to need like two weeks worth of rallying to kind of reclaim macro areas. But I don't see why we couldn't at least come back another day or two to rally into the five-day moving average. And that's exactly the theme going into tomorrow. The one thing about dead cat bounces when you are getting your list ready for the next day, the one thing you have to take in consideration for a dead cat bounce to play out into the next supply, which is usually the five-day moving average measure potential, you're going to need room. So if a stock close today was to say at $43 and the five-day moving average is 43 and a half, there's no trade there, there's no room there. There's not enough juice from pillar to post that make the trade wise. So you're going to need to find stocks with heavy average through ranges. So for example, a name like Tesla, right? They got blasted today. It literally blasted. We talked about how important that 11-20 violation was. It took out the 10-10, which we talked about on the weekend video and went all the way down. If you can see them with 60-minute moving average, it went all the way down to the 980 area. Again, we'll talk about the individual pivots in a second, but the good part about it is it held some level, it started rallying back, it went green on a day, and it finally took out this whole macro channel I'll show you in a second here that really exploded to the close. So for tomorrow's session, guys, do your list, make sure you have room. So for example, Tesla, right? Tesla has room to the 50-day moving average, right? It has room roughly to the 50-day slash 5-day moving average. There's still about 20 points there, right? A name like NVIDIA, for example, right? It gets above today's channel, still has about six points to the next supply. Apple, for example, right? Again, it doesn't have a huge amount of room, but still has about two, two and a half dollars to the next supply. So anything that you are thinking about trading for tomorrow, the first order of business or your first target should be number one, it has to take out today's highs, establish a new high, retrace and confirm that opening range high, and the first order of measure potential, you're not thinking about big, big move. You're thinking about small micro potential, usually back to the five-day supply where there creates a new battleground in the days ahead. But instead of talking about or worrying about that a stock can reclaim the 50-day moving average, we're still so far away from that, the small thing to do is take baby steps, start identifying channels that potentially could give you cash flow into the five-day, close above the five-day, and now we're talking about bigger potential for the next couple of days towards the end of the week. So let's talk about, right? Let's talk about some pivots today. As you could imagine, everything got murky, right? On the watch list last night, on the weekend, on the watch list, right? We had, look, here's the watch list. I'll give you a perfect example here. Where the hell's the watch list? Where the hell's the watch list? Did I not put the watch list on the Twitter feed? I might have not. But anyway, this doesn't really make a difference. 1023 channel, when Tesla gapped down this morning, December 23 channel is now 997. If it builds below, it can see 988 and then 966. So Tesla lost its initial channel, right? Lost its initial channel here. This was right over here. Lost this whole channel here. Lost 996, went all the way down to 980 before reversal to the upside. There was a really aggressive pivot back to the upside in the afternoon. We'll get to that in a second. But Tesla got hit this morning. This one, the initial pivot was 3238. So it put in its opening range low, literally 35, 36 points below the natural pivot that I wanted. But again, beggars can't be choosers. Amazon got destroyed. I mean, literally destroyed in the morning session. Yet 3202 needs to confirm the pre-market low. The potential for the initial push was 3181. Basically the bottom of this channel, 3181. It went through that 381, like it wasn't even there. Amazon got just destroyed today. It took down this whole channel here and went all the way down, literally all the way down to 3126. So just even on the gap down the opening range, there's at least 75 points to the downside there as well. Obviously huge, huge macro channel and that's to get into the theme. Big, big hammer, which represents a short-term buy signal whether it's Amazon, whether it's the video, whatever favorite stock you have. But that's kind of the same theme playing out for tomorrow. Holix never got down to the 69 level. Dock you got hit pretty bad at the open. Dock you macro short setup. Any close will 3150 confirms earnings lows and starts several days, several weeks of cycle. And it looked like before the market turned around, Dock you was gonna get absolutely murdered. So it took out the 3150 that was this channel again. This is, we talked about this on the weekend update went all the way down to like 126 and change and then obviously everything reversed and it went down with it. But again, big, big move at the open. Ford never got the 25 win. Another name that got flushed. Again, we've been talking about this win for a little bit of time. So win finally lost the 83 channel and traded right down to 80 bucks when we talked about in the webinar for potential soft landing traded right to 79, 82. And you can see why 80 was the rising support off the daily. So nice move there on win. And yeah, I mean, get down. Get down to 25% in the 982 level and right to 980 at one point Netflix was actually strong. And then it completely lost like 20 points out of nowhere. Obviously never came close to confirming 545 to the upside. As you can see here again, 80 is the next support low the day is 79, 82 for win. 128 and deck went to 126 and change on that. And here is the upside, right? Here is the upside and we saw in the afternoon two separate buyers come in when the stock was like 1023, 1024 really a pretty good rebound off the lows, but two buyers came in with size. They came in with about a half a million bucks premium for the 1065 weekly calls. And that really set it off. So 1033 needs a strong base for more upside. Initially it was a pretty decent cash flow move but then when it reclaimed that 1036 on the initial move, Tesla went nuts and went absolutely nuts. Or as we say all the time, Tesla just won Tesla. And again, this is why there's nothing even close to Tesla on the board. So here is the whole 1033, right? This whole sneaky pivot here, this whole 1033 level and it went initially to this 1036. They reclaimed 1036, went to 1039, went to the 1056 level and just absolutely went bonkers into the close. So tomorrow if it confirms today's channel, there still is another 15, 20 points in the move in case we get a day two dead cat bounce on everything. So let's talk about some names that I do like for tomorrow. Again, we talked about Tesla, we talked about Nvidia. Again, you can make your list of favorite stocks. They're all gonna look like the same, right? Here's another hammer on AMD. If it starts confirming today's channel, I've got another $3, $4 into it in case we get a really powerful rally for tomorrow. But you could basically take any stock. It doesn't make a difference. Microsoft, you got a hammer, Apple, you got a hammer, you got a hammer everywhere, right? Hammer time, down, do, do, do, right? Hammer time everywhere. Couple of names, Amgen. Remember we talked about Amgen over the weekend update? This thing is ready to go folks, right? This is the highest close in the whole formation. All it needs to do is reclaim this channel tomorrow and this thing is gone. Lucid might be a day or two away, but just in case, just in case, they did come for the 44 and 45 weeklies. I still like, you see how it got rejected back to back days on the 50 day? If this thing starts reclaiming the 50 day, maybe this thing wakes up as well. And let's keep an eye on Rivian. One of their executives, one of their executives I think resigned and left the company, whatever the case may be, stock is down after the close. If you guys remember last week, we had this really aggressive pivot on Rivian to the IPO lows. Now let's watch it again. If it gets down to here and violates, maybe this thing could see 72, 70 on the measured potential move into that channel. So guys, have a great night everybody. Again, it's a crazy market, right? That's the whole point. It's a crazy, crazy market and every day we're just trying to do our best to make some sense out of it. Guys, have a great night everybody. God bless and I'll see you all.