 When you're in this aggressive, you know, when you're in this absolutely aggressive linear move down type of environment, you have to be extra patient. Again, everybody uses the word patience, everybody loves the word patience, they throw it around, but they're so eager that their your feet are really ready to jump out of their socks. You can't help it. 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. One day, I'm going to tell my grandkids that a hammer is an obvious natural sell signal. Guys, good evening, everybody. Welcome to another edition of the Access to Trader.com Nightly Wrap-Up Show. Hope everybody is doing well. So what does the market do for an absolute encore from yesterday's 1,000 point reversal into the close that's setting up the most natural bullish setup for the next day? They obviously resume selling and really trap everybody as well. And that's basically kind of the point of what a bear cycle is. You could only prepare for it under no circumstances. Should you be long overnight, anything that's under the 200-day moving average, and that's the whole point. And unfortunately, we didn't get that rally. I think a lot of the bulls when they woke up this morning and saw the futures down, you know, two, three hundred handles were like, okay, well, maybe they'll trap, because we talked about it last night in the video. I said the ideal thing that would happen today is we get a week open. They trap early aggressive late shorts, and we squeeze back the green again, and we have that, you know, we have that really big day to reversal. And again, not the day to reversal is bullish. The day to reversal only going back into the five-day moving average where we discussed. And unfortunately, we didn't get that. And that's the most important part. We did not get that. And the problem was it's not a market right now that you can just turn around and go, well, nothing is rallying. Let's short, you know, let's short stocks. It's like we talked about yesterday, look how far we are from the breakdown of the 200-day moving average. This is day four. And this is now, you know, one, two, three, four, five, six, seven, eight days in a row, you got two full weeks of stocks putting in lower highs, and it doesn't make a difference what day it is. We're getting the same action over and over and over again. And now it's getting harder to get value to the downside. Because remember, these stocks are way beyond the breakout level. So the stocks that we saw breaking down last week that we had, you know, on a Tesla or a Nvidia or Amazon, they're gone, man, they're gone 100 points ago, right? You're talking about 100 points on Tesla. Tesla really saved the day today. We'll get to that in a second. But all these stocks are gone. And if you go through any chart, like whatever chart you want, you'll see stocks just going down linear. And the more they go linear away from their breakdown level at any given moment, they can literally start rallying back. And I just literally tweeted this out a few minutes ago. I said at this juncture, we need a dead cat balance just to set up to the downside again, right? Just we need a couple of days of the market maybe putting in a little bit of a, you know, a little bit of a tailing short-term bottom that at least that if they get rejected on higher levels and can't reclaim the five day moving average, at least they could then turn around and start hitting back some back levels to give us some setups because right now, everything's going like this, right? Like this, you're getting a little blip, it's like a little EKG machine, but it's stepping lower and lower and lower every single day. And now we're almost at the scenario of earning season started. And if you follow technology and so far, you had Netflix come out with earnings, you had Microsoft come out with earnings this afternoon. And I kind of, you know, we talked about this for a couple of weeks, unless one of these tech stocks really come out with gang buster, you know, knock it out of the park type of earnings, they're getting sold. You know, look at, look at Netflix. They came out, subpar subscriber, subscriber growth, they got sold Microsoft and they haven't had their conference call, but Microsoft, they beat the top, beat the bottom. It just wasn't good enough. The stock right now is down 14, 15 points after the close. And tomorrow you got Tesla, right? You got Tesla tomorrow, you know, we'll see, we'll see. This is the ultimate, this is the ultimate in cult names right now. As much as people love Apple and people love Microsoft, you either really have a strong feeling one way or another for the stock. And if this stock can't rally on good earnings or Wall Street stops paying for potential, well, yeah, you're going to see a pretty, you know, pretty steep shoot first, ask questions scenario. So if you're a permable on Tesla, you better hope they really knock it out of the park, because that's the only thing that could save anything in earnings, because realistically, it's not even what the company says, what's more important is what the sentiment says. And right now, every single day, stocks are just getting sold, no matter what day it is sold, sold, sold, sold. And that's what it is. That's the shoot first, ask questions later. So it's going to be very, very important to see exactly what happens. Microsoft, their earnings were good, they didn't care, they sold it. Tomorrow, you got Boeing, right? You know, we'll see, right? We'll see what Boeing, you got Boeing tomorrow, again, not here nor there, kind of in the middle of the range, from the bottom to the top of the range, you got Tesla all over the place. We saw some magnificent bets to the downside yesterday. Some dude came in $5 million for the January fair. I believe it was the March, please double check, but I believe it was the March 650 puts, it did put up like $5 million on that bet. I could be wrong with the month, I'm so tired. We also saw a bunch of six and seven figure bets for the 950 weeklies, right? We saw some thousands. But again, it's going to be very, very tough to really impress Wall Street if we don't have that good feeling the rest of the day. So tomorrow's session in a weird way is as important for Teslas and Boeing's and Intel's earnings as the actual earnings itself. Nobody really wants to buy stock when stock's closing 2% down a day. And I think that's more the psychological aspect of where we are right now than where we're possibly going on an individual company basis. So again, in a weird way, we need a rally. It's not even the point that we want a rally. We need a rally right now because it's getting really, really tough, getting value on these stocks. And right now, I'm really at the point right now, kind of what we did today. We just kind of waited for channels to develop. The great part about at least what we do is we trade the stocks with the biggest average terrain. So you don't need a perfect chart. You don't need a perfect daily scenario to kind of get good value. And that's exactly what happened today with Tesla. I literally for the first almost two hours did not put on a trade. I couldn't find anything definitely not to buy. I have no interest in buying random stocks just because there's a pulse in them. And most of these stocks were so linear on one side. I couldn't find an entry. You couldn't find any meat left on the bone. And it doesn't mean the stocks are oversold. Keep this in mind, guys, look at the NASDAQ for the last five years. You're looking at, a lot of people are just looking at the market for the last like a month or so. We've been rallying for the last five years, five, six years since Trump took office and then Biden took office. This is the first adversity the market is actually seeing. So to say the stocks are oversold is crazy. Look where they came from. You had the cues coming from December of 2018. That's four years ago from $143. They were at $408. $408 only a few weeks ago. So we're nowhere clear. We're nowhere near oversold, love oversold. We would need to get like down to 240. Okay, which I don't think I think I could speak for everybody and nobody wants to see that. So going into tomorrow, I think the course of action is wait for the channels to develop. Obviously, at some point tomorrow, there'll be some dip buyers, religious dip buyers for Tesla. I would like to see some upper ranges kind of get a Q channel. If we can get a Q channel, we can possibly see what we saw today. And let me show you what happened today. We were looking at pretty much a dead day. We were just waiting and waiting and waiting and waiting and waiting. I was looking to the upside. I said, Hey, you know what, let's, you know, let's keep an eye on this never configured. Let me keep an eye on that. There was a Tesla pivot at first on the upside only ran up about a couple of bucks really need to take out the 933. Remember this number, we'll get to that. And the second I go sit tight, there's nothing clean. That's the biggest misconception folks that again, when the market is open, it's not a green light for you to go gang buses. A sign of maturity is waiting for your pitch, right? It doesn't mean sit on your hands, cash is a position, everything you hear on social media, it's literally wait for your process to kind of play out no matter how you trade. And whenever it does, whether it's today, tomorrow and next Wednesday, the point is you're ready for it. And slowly, but surely, we started seeing, you know, a little bit of a pulse, right? We didn't care where the pulse came from, but a little bit of a pulse. So we caught up, you know, there was three separate bounces today on Tesla, and it took me like two hours to finally get a scalp on Tesla on a remount bounce or whatever. It was like, yeah, it's not a big deal. And then slowly, but surely the market started rallying. And I said, well, is it possible we could have a day two performance, right? Better late than never when the market went from down 400, the NASDAQ, it was only down like 190. I said, Hey, we might get a shot here. And then slowly, but surely this woke up. And this is the most important part. Tesla, we put a pivot to the downside 903, 904. And then Tesla, we're just sitting in this really, really tight range. And here's this, you know, here was really the whole day. I mean, it was a hell of a move. Line has been drawn, right? 915 to the upside, 903 to the downside. And Tesla went absolutely nuts, just absolutely nuts. The only way Tesla can do, and here is the 915 pivot right here. It was this tight channel right here, 915 was the top here, 903 was the top here. Tesla took out 915, took out 933 and traded all the way up into the 950, just a phenomenal move. And it really does show that if you are patient and wait for your spots and trade the same names over and over again, you kind of know their tendencies, you kind of know what they're about to do or potentially do. And once you see these confirmation channels working, it's an absolute beautiful thing. And congratulations, great trade. I mean, really, really happy about the move. You had Amazon, not a big move at all. Not a big move at all. And Amazon, you know, ran up about seven, eight points, and then everything got got destroyed. And the video didn't give a second entry above 229 traded to like 229 40s. But everything got slammed. So I really think the value going into tomorrow's session is just waiting for these channels to develop. And again, when you're in this aggressive, you know, when you're in this absolutely aggressive linear move down type of environment, you have to be extra patient. Again, everybody uses the word patients, everybody loves the word patients, they throw it around, but they're so eager that they're your feet are really ready to jump out of their socks. You can't have that, right? It's very, very important to actually practice what you preach. It's super duper important to kind of get that organic green light from when market structure comes back to life. And when the market structure does, whether it's on the long side on the short side, you have to be fiscally responsible to allocate capital, where's the safest, not the sexiest, but the safest. So tomorrow, big day for earnings. Obviously, I'd like to see some Tesla channels to the upside for some cashflow. And we'll see exactly where the day plays out, guys, have a great night. God bless. And I will see you all tomorrow.