 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, the final edition of the week of the AccessTrader.com nightly wrap up show. Hope everybody is having a good trading day. Yesterday again, nothing going on, couldn't make any money, lost some money yesterday. The action was, in my opinion, I thought the action was really, really terrible. You had a distribution cycle on the way. And again, what today really proved that what I've been kind of saying for many, many years, and I said this yesterday on the video as well. If you watch last night's video, you'll notice I said, look, you don't need to trade every day. And once you finally see that you're getting a bad hand, right, we talked about this in nausea, just kind of get out of the way. And that's the most important part, because again, you just don't know what you're going to be dealt the next day. And today came, I had an open mind. I wanted to see exactly what the market was going to give me, what kind of hand. And the most important part, what we saw today versus yesterday was value today versus lack of value yesterday. And it really does drive the point home. Again, you don't need to trade every day. You don't need to be one of these traders that tries to squeeze water out of a rock when there is no water there. And today was a pretty solid day. You had bounce plays, you had longs, you had short pivots. You kind of had everything, but what it did really drive the point home today is that this is right now a trader's market until we validate or confirm one way or another, both long and short. And if you look at the QQQs, they're not going to really give you a great picture, right? If you are a bull, right, if you are a bull of this market and you say, well, this is just great stuff. The market is kind of resting. Everything is going good, right? Look at the big run we had. If you're a bear, you're talking about, well, the market just can't get going. The Dow was up 500 yesterday. Most of these names were down. The market was up again this morning before they got pulled and they were got down. Now you have Netflix, for example, reported today. And again, can this be the domino? Again, I'm kind of making the bear's case. Can this be the domino that finally gets the bears in control? And again, if you look at Netflix today, again, it's almost the same case scenario as we talked about last quarter. Was this run up, right, going to be baked into the stock? Or is this going to be one of those scenarios that the market takes it higher? And we saw again, we saw again, we had 600 call buyers coming in, 645s, we saw some 700 call buyers. We even saw a guy come in for the September 900s. So, right, after the close, if you look at their numbers, they weren't great at all. Not at all. Netflix down about 10% after the close. Everything is getting taken down with it. And the question again for tomorrow, because again, the bulls had spent the majority of their day today, especially in the tech space, underwater. There were pockets of strength, and we'll talk about the individual pivots in a second. There were definitely pockets of strength that kind of gave you some pretty good cash flow, but for the most part, they were trading underwater. And I think kind of going forward tomorrow's session and maybe even spilling into next week, I think you just got to sit back and just trade the channels. Again, you need to be, you need to be, okay, you need to be so biased until we start reclaiming the 5-day moving average. If you notice yesterday on the Qs, we failed, right? We failed on the 5-day moving average. Again, for all you guys who are joining us just for the first time on this broadcast, the 5-day moving average is one of the most underutilized area of interest. For me, it's short-term sentiment. That's what it represents. For most people, they don't even know it exists. The idea that the bulls failed to reclaim the 5-day moving average yesterday on the Qs was kind of a big, big deal. Now, again, you had a hammer being put in here a couple of days ago, a tenth of a rally. Yesterday, it got failed. You had another tenth of a rally today that got failed. And again, tomorrow the bulls are going to be, again, in the line of fire. Again, can they continue to hold major levels? And if you look at this whole rise here on the Nasdaq 100, every single time we tested this bottom channel, this rising bottom channel, we bounced. The latest time was a couple of days ago. So this 252 level kind of going forward is going to be very, very important. Again, there's two levels you really need to watch in this channel. If you see how tight this channel is, this is why I'm saying, going forward, this has to be considered a trading channel, the epitome of a trading channel market, both long and short. Cash flow, take profits, break even. Cash flow, take profits, break even. So you have to the upside, you have 262, 70 to the upside needs to confirm for the bulls and for the bears, you are looking for 252.50s, 252s back to the downside. Everything in between, depending on the day and depending on, you know, the average range, a lot of traders are going to be faced with the idea of a chop factor. That's kind of what we had yesterday, but at least we expected that chop factor yesterday. Today, again, completely different story, kind of back to business, some good longs, some good shorts, some good bounces. I caught a nice bounce on Netflix. We caught a really nice bounce on Netflix on the remount of the 10-day moving average when they first tried to sell it off. So that was pretty good as well. So all in all, back on the horse, I think the most important part about today's session, we didn't let yesterday's hangover of nausea and lack of follow-through. Remember the distribution channel, the guys that are fighting in the phone booth, right? Bull and Bear. So again, mentality in this tape is everything. If you made money the day before, you got to leave it the day before. If you lost money the day before, you got to leave it the day before. Every day, it's only as good as its next day starting pitcher. I know it's a crappy baseball analogy, but again, that's super sports. I'm using anything I have here. So going into tomorrow, again, again, I want to be a little bit sell biased tomorrow just because again, just because I understand where the macro area here is on the cues. If you look at all the other indexes, again, you kind of see the same story. Again, spies are kind of resting. For the S&P to really start cranking, the spies really need to reclaim this whole area here of 324. You can see how many times it got rejected here. If you look at the IWM, same thing, right? They try to remount the 200-day moving average here. They did a great job hanging on to it, but again, tomorrow's open just on everything. I'm assuming Netflix is going to take down a lot of the tech space. Again, they're going to be tested again. Can they hold on to the supply that they reclaim? So again, I want to be a little bit sell biased tomorrow just because there are some pretty good setups. But again, this market is definitely giving some pretty good opportunities, especially today. Take yesterday out of the equation. Again, what I was proud about us, again, we sat and we waited. We didn't need to kind of validate yesterday. Even talking about the day before, I almost called yesterday kind of a Mulligan type of day. Kind of just let it go away just because we knew the shop factor was going to be. For tomorrow, there's definitely some names I like. I think we'll definitely get some value for tomorrow's session. Again, I probably will start my day tomorrow at the 10 o'clock channel just to get a clean view of what's what. And again, I want to see if the bulls indeed want to defend, right? Defend the first beta name that reported. Next week, you got everybody. You got Tesla, Apple, Amazon, Google, Facebook, micro, you got everybody. But Netflix always leads. And again, you can't say one fail. They're all going to fail. But again, for the time being, Netflix is down about 10% after the close. But again, if you're a Netflix bull, can you really be that upset? I mean, look at the run on Netflix here. So let's talk about today's session. Again, good value today. Some pretty good value indeed. Zoom, right? Here's Zoom. Here are your levels. 4750, 247. If it builds below, it can flush. I thought there was a shot. It was going to get down to 240. But again, in this type of environment, you just want to take advantage of your flow, right? So here's the 24750, 247 level got down to 243. Again, not the biggest trade in the world. But again, a nice moving here. This is the only trade. Let me get the Roku first. I actually missed the 5280-53 pivot. So I got in on yesterday's high, ran up about a dollar in change. I took a lot of it off. And the rest of it, I used breakeven. So pretty good Roku trade here. This is the only trade, at least for me, didn't work. I shorted shop. It went down like a few points and it just held it up, held it up, held it up. I wound up losing about 370 or so on the trade. Again, not the end of the world. But again, just a pain in the ass to trade. But again, it is what it is. Amazon got murdered today. 2950, well, I wouldn't say murdered. I don't want to use the word murdered. 2950 support, if it starts to build below, it can flush. Next area of support, 2922, 2906 and so forth and so on. Here was Amazon. Really nice move. Really, really nice move here. So here is the 2950, right? Here's the 2950, all this area right here. It went all the way down. I said 2922 first support went down to 2918. Really nice move. Really nice move on Amazon. I forgot to watch SC. What did SC do today? I had a pivot here below 106. Never got there. Maybe for tomorrow. Peloton never got there. Netflix actually had a pretty good move. Before it got to 29, there was another pivot in the afternoon that took out the pivot, took out 29 and traded all the way up to 35. We'll show you in a second. That was a really nice move here. Amazon, nice move. Beyond obviously never got down to this level. Nice move on Zoom. Again, caught a pretty good trade on Roku as well. Amazon again, getting killed here. Again, I don't want to say nice move. 1520 went to 1532 on Tesla. So that was that. So here is two really nice pivots in the afternoon. Netflix 525 needs to build for the afternoon spike. Here is Netflix. Again, this is my point that you can trade channels. Again, you don't need to be biased on one side, especially right now. So here is the 525 and it confirmed that. Confirmed the 529 I initially put in. Went all the way up to 535. Really, really big move obviously before earnings. Amazon also a really nice move. 3000 needs to build. Here is Amazon. So here is 3000 right over here. 3000, I said there's a shot against the 3025. It went to 3032. So really nice move on Amazon as well. So you had Netflix and Amazon in the afternoon. Again, take on the way up. Use break even as your stop. Take on the way up, blah, blah, blah. Amazon, big move. Again, big move. Tesla new highs, yada, yada, yada. And I think that was it. I think that was it. Yeah, I think that was it. So we also had a bunch of bounce plays today. I caught a $2 bounce play. Two and change on Netflix off the 10 day moving average. Space was amazing. Space was a very, very big mover. Especially I think the biggest move on space actually came from the 21 bounce. We also had a pivot that I forgot to put in the Twitter feed from 1985. So I apologize for all you guys on the Twitter feed. Ran up to like 22. So pretty good day. Pretty good solid session today. I think the name of the game right now is just to kind of being open minded for everything. And again, if you find yourself in a day that things are stalling out, again, they're just not highlighting what you're doing and what your strengths are. It's a pretty easy fix. Again, there's no such thing as bravado as ego when it comes to trading. This is the business that your bravado and your ego are going to eat you alive. Again, both trying to validate the point that you're smart. Nobody cares. And that you're right. Nobody cares. Okay, it's all about price action. When the price action is there, like we say all the time, step on the gas. If it's not being adult, stay passive. The next day you'll always get better value. And that's exactly what we saw today. Guys, God bless everybody. Have a happy Friday and I'll see you all on the video over the weekend. Take care guys. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.