 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 theaccessotrader.com. Monday update show. Hope everybody is doing well. Hope everybody had a great weekend. God bless you. Good night. That is the wrap up. If you traded today, if you actively looked at the market, not sure what was going on today. Okay, I tried to figure it out, maybe with some sort of weird holiday, maybe the Zimbabwe stock exchange closed early, maybe, you know, our friends at Armenia were putting money into the market. So whatever it was, the market did absolutely nothing today. If you look at the tape, there was about a 200 point gap up today in the Nasdaq. And when you look at the market, when the market gap of 200 points, all I kept on saying is there's nothing to buy. There's nothing to buy. There's literally nothing to buy. Everything stuck in the middle of the range is because when we sold off last Friday, it engulfed the previous day. So when we get back up today, it was a scenario of, well, how can you go long stocks are not even at the top of the range here. They're still stuck in the middle. And what not happened was, you know, basically an hour later, we sold off a little bit and literally for the next four or five hours, we did nothing. It was like a flat line. It looked like a patient that was about to go flat line into the afterlife. Just absolutely nothing going on. When you look at this consolidation, you turn around and say, well, this is so healthy, right? This is so good. And again, if you've watched literally anything that I've ever done, you know, you kind of know my theory. The longer stock or ETF or anything kind of sits in a range, the higher probability it's going to bust out of that range and go very, very aggressively. Well, this is already one, two, three, one, two, three, four, five, six. Tomorrow will be day seven. So we're nearly a week and a half after the NASDAQ reclaimed the 20 day moving average, the previous, not the last Friday, but the previous Friday. And that's cool at all. But the thing is, once it has the ability to actually go higher like it did this day on the reversal of the Microsoft pre announcement, the next two days it puts in an inside day and not only that, it gives the gains back. So we're sitting here, we're sitting here, we're trying to digest this information, you're saying to yourself, well, the longer it can't rally, is that a good thing or a bad thing? And here was the question I kind of asked, okay, was, and this is the funny thing about it, was today, right, was today an inside day, because the NASDAQ was up 50 points, the NASDAQ on Friday, last Friday was down 300. So my question was going to try to wrap my brain around this, was today an inside day of last Friday, always last week, an inside day of the buying that happened the previous week, we were up 6.8%. I don't care how you spin it, potato, potato, tomato, tomato, the point is, we're still stuck in this range. And when you go through your charts tonight, you'll notice the same thing. There's definitely setups, but the problem is nothing wants to confirm, not only nothing wants to confirm, I basically, this was by far, by far, I'm talking about by far, that wasn't even, not even a second place. This was by far the slowest day I've had in 2022. I put on one trade, it was a bounce off of a rising 60 minute support of Amazon, which by the way split today. It traded 134 million shares today. I said to myself, I'm going to watch this thing for the next two, three days, just to kind of get a personality of this thing, because obviously, Amazon at 125 is a lot different than Amazon at 2400. So we have to kind of digest the way it trades, find this true personality, find this real average range, and I don't expect 134 million shares being traded tomorrow on it. I think it's probably going to flat line somewhere around 30, 40 million shares, maybe 50 million shares for the day. So far, I kind of liked the way it's trading. It was trading basically within a couple of penny spread. At first, it reminded me a little bit about Apple, but then I said, it's kind of trade smoother. No matter how Apple trades, I liked the way Amazon was trading. It was trading a little smoother. For all you guys who took the bounce in Amazon, you kind of know, kind of hit the range, paused there for a second, started bouncing up with very little resistance. So that was kind of cool. You had the Apple presenting at some sort of event. They had some cool things about this edit button. Again, for all you guys who are alcoholics at three o'clock in the morning, text your ex-girlfriend, text your boyfriend, go, I love you so much. How can you leave me? You can actually edit that and you don't have to send it. You can actually take that away. So that was kind of cool. But other than that, not really a lot of movement, right? Got rejected up to a five day moving average. Everything basically that we talked about on the weekend video is still valid for tomorrow. Tesla really didn't do anything today. Nothing extraordinary. Think about this. Tesla was down 79 points on Friday. The stock was up, what, 11? Not really exactly. So this setup is still in play. The Apple setup is still in play, right? Didn't really come out with any earth shattering news except for the edit button. I still like it if it starts dropping below the 10 day moving average, squared that we talked about. It's getting tighter and tighter. I still like it if it starts confirming. So everything that we talked about basically on the weekend update is still valid for tomorrow. It's very, very rare that the market goes out of its way to do absolutely nothing. Now somebody turned around and say, well, Dan, is this summer trading? I mean, look, we're at what, June 6th? I can't imagine this is summer trading because last week was still kind of end of May, June. I don't buy it because especially the stocks that we trade, it has a majority of so much average to range. Even if you have a slower day, you'll have a range at some point. But today was just very, very odd. You had semiconductors that didn't participate on NVIDIA, nothing like again, still going sideways. You had AMD getting rejected again at the top of the channel here. Google that splits. I think soon, you know, kind of like, you know, had a nice pop, got rejected, not here nor there. So we're just kind of sitting here, right? It was just a very, very odd day. I'm hoping tomorrow we kind of get back to business, right? I don't care at this point. I don't care which way we break. Just break, right? Break. I don't care how long this even takes. But as long as we sit, and this is kind of the most important part, the longer we sit above 303, the common sense would say, look, we're going to start moving higher. Once we start breaking below 303, then we go 100% sell bias. But something has to give. Also a name like AFRM was a little bit of a victim to the Apple conference. Apple is starting their own, you know, pay later by now. Kind of like this thing for tomorrow, you know, this thing is sitting in a tight range. But then again, everything's sitting in a tight range, right? Any stock you want is sitting in a tight range. I can't really say I like this one more than that one. Something got to break, right? And that's the whole point. That's what we talk about discipline. This is what we talk about just because the markets open doesn't mean that things are tradable. Every stock moves, right? Every stock moves. It's the markets open from 9.30. The ECNs open up at 4 o'clock in the morning. Everything moves, but today nothing was absolutely tradable. For the exception of Amazon, and this is another very, very important point, which has made the day a little more otter. There was no option flow today, like zero. There was really no, nothing for the exception of Amazon. You know, they were driving the 25s, the 30s, the 36s out of the monies. But there was nothing else. I was sitting there and I go, there's no out of the money. There's no out of the money on Teslas. There's no out of the money. There was a little bit, the 200s came in from the video early, early, right at the open, but nothing after that. So it was a very, very odd day. One of those days, you turn around and go, okay, now it's over. Okay. You make your watch list for the next day. And again, there's some things I like. There's definitely some things I like. Like I said, I like a firm tomorrow. If it finally breaks down below this range, I like square tomorrow. If it breaks below this range, I like square tomorrow. If it breaks below this range, I like Tesla tomorrow, right? If it breaks below this range, you know, basically the same thing, right? Apple, if it breaks down below this range, the upside, look at the Lenar, right? You got a home builder that's getting super duper tight. Let me see what else I like here. Marvel, I like. I kind of like Marvel, but yeah, look, we don't even know which way the market's going to break tomorrow. Marvel is going tight. And check out this, check out BBBY, right? BBBY also, it gapped up, got stuck. Right now it's on its 10-day moving average. They pull the market. Let's keep an eye on this thing on the bottom of the range. But now it just becomes a waiting game, right? It's all about the game of chicken, you versus you. It's not you versus the market. It's you versus you. It's basically asking yourself, how many C, D, E, and F setups can you take? That it's going to finally churn your account to the point that you say, take away the damn mouse. I don't want to trade, right? And that's the point. It's not about the FOMO, the fear of missing out. It's about the JOMO, the joy of missing out. And what exactly are you missing out of today? Today, I asked people in the webinar when the market was really going sideways. I'm like, show me a symbol that you want to own today when the market was up 200 points. It was crickets. It was absolute crickets because there was not enough, there was not enough range in anything. And once the market started to sell off, they were like, OK, here comes the bottom ranges that never came. So the moral of the story is, what came first? The chicken or the egg? Nobody cares. Something confirmed. Up, down. We don't care. At this point, we are open to everything. And the most important point is, wait it out. Eventually, the volume will get very aggressive. Eventually, the option flow will come back, hopefully tomorrow. And hopefully, the ranges finally expand, whether it's the downside to the upside. But once they do, we should get some very, very aggressive moves back in that direction. So that's it, right? That's it. Sometimes, you know, it's very, very tough. When you put lipstick on a pig, it's still a pig. You can't spin this. So it's a very quiet day. And the most important part is, it's over. Now we concentrate on tomorrow. Wait patiently again for everything to confirm. And the most important part, like we say every single day, premium hands only, stay in business. Guys, God bless. Hope everybody is still awake. And I will see you all tomorrow. Take care.