 The key is, like this is where we talk about a potential overextension cycle, the key is now not to look at the stock. 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 Access a Trader.com netly wrap up show. Hope everybody is doing okay. So let's talk about the day. NASDAQ, IWM and the SPY reclaimed big levels on Friday, the 50 day moving average we talked about this on the weekend update. And the question was, well, what was going to happen next? Can we build the bonnet? Obviously, the last thing the bulls did not want to do after reclaiming it and doing a great job of reclaiming it is giving it back. And that's the key. The most important part of any single rally is not only building on it, but don't give it back. That's a very kind of important deal here. And the most important part is when we start talking about building, right? The longer we can stay above 306.5, 307 on the cues, the higher probability, again, we're going to be building a base here just the same way we built the base below the 50 day. And again, to the bulls credit, it only lasted for two weeks versus the last time it lasted for five and a half months. So it's very, very important and necessary that the bulls, no matter what happens, right? Like tomorrow, for example, we have a CPI coming out, a lot of yada, yada, yada, a lot of data, a lot of stuff, a lot of smart people talk, right? A lot of grown up talk, I have no idea what any of that means. But I think the point is not only are we going to build on it, build on it an organic way. And this is kind of when we talk about the flip side of what happens when the market loses the 50 day moving average, it's not going to go straight down. Okay, so when we reclaim the 50 day moving average, we're not going to go straight up. And if you look at the last one, two, three, four, five days in a row, right? The cues are up five days in a row. And we're right about the next supply zone around that 1112 area on the NASAC 100. Considering we reclaimed that 306 and a half, 307 level on Friday, this is a nice little move here. I think for the market to be structural, I think that's the best way of saying it being structural and being organic, I think in the next day or two, the market needs a little bit of a rest, right? Nobody again, I'm not talking about the market going down, I'm not talking about this, we're going to revisit the lows, all we're talking about a nice healthy rest, because the last thing we want to do, and again, we kind of talk about this from the time to time, we don't want to get to that point that we're up seven days in a row, or six days in a row. And now the biggest, most active, aggressive bulls are talking about, well, it's up too much too fast. Let me let me start peeling back. And that's not what we want to see here. So instead, it would be very beneficiary for the market, for the next day or so, maybe go sideways, maybe come back even and test back this 307 level that we reclaimed a couple of days ago, because what we don't want to see is we don't want to see a gap tomorrow into this 312, 313 level, get stuffed and then turn around and then we're forced to naturally back test this area going back to the 307 level. And again, keep this in mind, the market doesn't care, if you're along the market at 313 and it back test the 307 where we reclaimed, it doesn't care that you're long at higher prices, or your pain tolerance, or your account size, or anything else in between, the market's not there again to pacify your ego, it's strictly there to facilitate buyers and sellers at different intervals. So it's really very, very important. Look, is it possible the market needs an excuse tomorrow for the CPI to kind of come back a little bit? Yeah, okay, okay, I'll buy that, right? You know, I'll buy that, but again, the key is, this is where we talk about a potential overextension cycle, the key is now not to look at the stocks that are up seven, eight days in a row. For example, we talked about snow, finally came out of a channel today again, right? Snow is great, it's a runaway train, and if the market's good, does it continue to go to 202, 203, hell, even 205, which is the August 26 highs, absolutely. But the point is the value was a couple of days ago here, we even talked about this last night, in last night's video, we'll get to the pivot to the second, the value is coming in above this channel here, right? The airspace that we talked about, the Barry Sanders effect. So yeah, it has room to 205, but it doesn't necessarily have to get there in one print. A name for example, name for example, like Tesla, right? Same thing, kind of the same conversation we had yesterday, right? It finally got above this airspace. But now, I mean, look at this thing, Tesla is up one, two, three, four, five days in a row, you're talking about from 265 to 305 in five sessions, right? Doesn't it need a health, I think even the most aggressive bull could turn around and say, yeah, we probably need to take a deep breath, not to get a little bit ahead of ourselves. Because again, eventually, everybody's going to turn around and go, listen, I can't buy this thing up, you know, from, you know, up what, 40 points in five days, I need a little bit of rest as well, I can't consciously chase this thing without a safety net. This is what we call about buying stocks potentially, not necessarily the 10th floor, but like the 6, 7, 8th floor as well. Look, is it possible Tesla reclaims this whole channel tomorrow and gives you one more day? Sure, absolutely, why not? Again, but the point is, from a structural point of view, if it was up to me, the value of everything to tomorrow would be a washout, right? It would be a washout trap and then rent the green. At least you're buying levels on where it came from into rising support. And yesterday, we talked about stocks potentially coming out of channels, right? The stocks that needed maybe another day or so to get that airspace. And this is how you know the market's very, really strong. We got that in a lot of selective names today. Apple just went out of its mind. You're talking about a 4% move on Apple literally took down one, two, three, four, five, six, seven, eight, nine days. You're talking about over two, almost two weeks of selling in one candle here. And then, hey, if Apple confirms this channel here the next couple of days, why can't this thing extend as well? But at least it's coming out of a channel. Amazon, we spoke about in the weekend update as well, right? I said it needs probably one more day. Well, now it's above its channel as well, right? So those are the names we're looking for. And if these stocks rest, right? You're talking about the Teslas of the world, the Netflix of the world, if they have a res day and they have a little bit of a back test. If this isn't true indeed and has the characteristics of a good, strong bull market, then usually what happens in a bullish tape after it's building or stocks are resting, kind of what we call an inside day, then there's usually a rotation, right? So for example, this morning, a lot of the chip makers were weak, right? You had in the video was weak this morning, you had AMD was weak this morning. But the point is, if there is money flow temporarily, don't freak out, coming out of one day of maybe an Apple or maybe a Netflix or maybe a Ahmed or whatever the case may be, why can't there be a rotation back into chip names? If you guys remember a couple of days ago, they're the ones who let us hire. And if you look at AMD, for example, AMD had a monster, monster run. You guys remember that 81 level had a huge run from 81 took a rest, right? Here's another example too far too fast, one, two, three had an inside day. So why can't money flow go into AMD tomorrow if they start taking out the top of the channel here? Why can't the money flow go back into the video, right? I get it. I get it. And that video has a lot of headline issues with China and this that the other thing. But again, look how it's building here. And if it starts confirming up the 10 day moving average, look how good this thing looks, right? Look at this thing. Again, look how tight the 60 minute channels, it does again, remember, it doesn't necessarily have to confirm tomorrow. But at least if there is a possibility of a back test of stocks that made big moves into money flow into stocks that are resting one or two days, then the chip space makes all the sense in the world because well, they're the ones that rested today. Same thing with names, for example, like a Google, right? Like a Google had this nice little tight little run, maybe it's a day or two away from coming back into fruition. So I think if the market does want to kind of back test tomorrow, be careful of the big runs, right? Be careful of the names that had the big runs. ZS that we had, we talked about last night in the video as well, two, three days, excuse me, three days, really big runs. A name like Snow, again, it looks like it's going higher. But would it shock me if this thing took a little bit of a rest tomorrow? Right, wouldn't shock me. But it's up to look one, two, three, four, five days. Tomorrow will be day six after consolidation. Again, that's bullish of a run up. But hey, again, we need to breathe. So I definitely want to keep an eye on names like Apple tomorrow for a day two. Again, when you have a 4% rally, you have a 4% rally, they were coming for the 65, the 67 and a half weeklies with this type of volume. Look, I think at some point you have to assume the stock goes green tomorrow, right? Whether it's a trade or whatever the case may be. But again, preferably I would like to get this thing on a rising 60-minute support trap, go red to green, take out taste highs and really, really giddy up. But again, we take what the market gives us. Amazon has some really good aggressive short-term buyers as well here. Look how close this thing is. If this thing starts getting above this big channel here, then we're going to see 140, 142 on top of this tape here. So again, going into tomorrow's session, we're going to try to avoid the stocks that are 5, 6, 7, 8 days in a row. Try to go to the ones that are starting to come out of the channels that we talked about yesterday that finally came out of the channels today. And now they just need to confirm for tomorrow's session. So it's very, very important. So let's talk about the day. Again, you know, you got some pretty aggressive moves here. Again, the same player as we talked about pretty much last night in the video, we're still the big movers for today. You had snow 189-20 meets the build. Here is snow. So it took out the 189-20, traded all the way pretty much to the high of the day of 195-30s. Again, like I said, this is, I mean, look for a foreseeable future of the market continues, maybe 202, 205, again, just a really, really strong stock. ZS was pretty good today. ZS 189, it had a nice little reversal here after, but ZS 189, 189-60 needs to build for continuation of Friday's move. Here it was ZS, putting an opening range high of 190, retraced and got right through that 190, traded all the way up to the 193s initially, came back a little bit and closed pretty much at the high of the day at 194. Again, one of the biggest, one of the biggest cool things, I think we talked about this from time to time. At any time, guys, just kind of a little bit, a little bit, tip it for newer traders. Anytime you see a stock come out with really big numbers, right, and have a really aggressive gap up, and I'll give you perfect two examples, right? So here's your earnings gap up on ZS, next day follow-through. You see snow as well, same thing with snow, right? Snow had the big move up on earnings, next day follow-through. That's usually one of the higher probability plays because there's so much, remember, there's so much momentum in an earnings play. So if the stock does put up a really good move, the next day, especially if it goes red to green, usually takes out the next day's channel. So you have some nice moves here on ZS, on snow. Tesla continued its move. They had a lot of series of pivots from last week. It got above the 300, got above the 304, traded right to that 305 and a half level. I think it's getting a little tight. That's my point. I think a name like Tesla, again, like I said, it might have one more day, maybe two more days, but man, we're getting up to like six, seven days in a row. We did see some late afternoon, you know, maybe there were hedges, whatever the case would be. We did see some late afternoon, 295 weeklies come in, maybe just a little bit of bets of some profit taking, but again, this is not the one you really want to start at going aggressively on strength. You know, a lot of you guys have runners, and that's exactly the good thing. In a perfect world, Tesla kind of rests in the next couple of days, and then it resumes towards end of the week. Jumia, nice looking chart for you, small cap lovers, 805 meets to build. Friday, they came for the $9.16, $9 calls. They came for some today. A nice little move initially went, took out the 805 with the 815. This is the highest close in this whole formation. If this thing starts to confirm, is it possible it gets into the 830s, 850s? Who knows? You know, maybe a one PR gets this thing higher as well. So I still like this thing for tomorrow. PRTY, what the hell did it do? I wasn't even watching it. PRTY 270, looks like it took out 270, went to 275 and didn't absolutely nothing. Again, small caps are such a hit and miss. Meta, right? Meta, initially it took out the previous channel, 169, 60, and 171 macro channels need to build. It took out 69, 70, took out 171, traded to 71, 40, and then it kind of stalled at the top of the range. Amazon, I'm a little pissed off of myself. I didn't think it was going to go today. 135, like I wrote, I go 135 as daily supply. Any close opens up daylight, like we talked about last night in the video, settler for 135. By the time it was at 135, I was in Tesla and ZS and all that other crap. I just didn't have, I didn't have time and I kind of just said, let me leave it alone. I looked up and the stock is doing, you know, stock did well. It doesn't sound like it did well, but just keep this in mind. This is a 20 for one. So when you get a $3 move, this is the equivalent of Amazon going up 90 points for the day. And now it's setting up for macro. So I'll watch this thing for tomorrow, especially for the macro level above the range. So that's it. We got CPI coming in for tomorrow. Bulls did a great job Friday, reclaiming the 50 day today, building on the 50 day. Now let's see if the CPI is going to be some sort of catalyst for some short term data to see how the market reacts. But again, remember, the market doesn't need any excuse for a little bit of profit taking. So it wouldn't shock me at all if we saw some tomorrow. But again, like I said a couple of minutes ago, even if we do get a back test, I think there'll be a back test on the stock to have multiple day runs. But the names, for example, like a semiconductors are poised that if money flow goes back into them, they're still on the bottom of their channels that if they confirm, maybe it's their turn to dance. Guys, have a great night. God bless. And I will see you all tomorrow. Take care.