 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 the Access to Trader.com Nightly Wrap-Up Show. Hope everybody had a good day. Pretty straightforward day. Hope everybody had a great weekend. Beautiful weather. Thank God. Here's what I liked about today. Again, certain days you don't really need a lot of description, right? Everything kind of sometimes plays itself. And today was a pretty straightforward day. And if you go back to kind of what we've been talking about now for weeks and weeks and weeks, expect the unexpected, after one session of the CEO of Tesla and arguably the craziest CEO probably of all time that makes the founder of Apple look sane, right? Steve Jobs looks sane. After a day that the CEO, and again, you've never seen this, basically just downgrade his own company on extreme valuation. Logically, right? The next day, it kind of takes back all the losses from the previous day. Again, welcome to 2020. But what I liked, two things that I liked about today, and I'll show you the one thing that I don't. Again, I always play doubles advocate. The two things that I did like what I saw today was number one, we weren't headline driven. And what I mean by that was there wasn't anything significant from the Fed. There wasn't any more meaningful, more aggressive or new revelations coming out of the COVID-19 virus. Okay, it was all about technical analysis and sentiment today. And what I liked what I saw today from the bulls, they had every opportunity to kind of roll over and die. Friday, again, we've been talking about this off and on back and forth, up and down, reclaim, lose, reclaim, lose this whole 213 number on the cues. We lost it on Friday. We reclaimed it again. Again, there's no rhyme or reason what is happening. It feels like we're alternating. It's like one big seesaw up and down, up and down, and there is no follow through. But if you've been paying attention for what 2020 has been doing, the bulls have really been in follow through mode. You take away the aggressive selling in March, you put back on the table the most aggressive month of April, the most aggressive month in the last 33 years. And you really start to see that slowly but surely unless we get this magnificent second and third wave of the coronavirus, and this is all still on the table. Finally, New York State announced Friday schools will be closed for the rest of the year. New Jersey woke up and said, well, maybe we should follow. Okay, we're only getting 3,000 in cases a day. So they closed down schools. So despite what's been going on strictly from the equities point of view and the stock market point of view, you take all the real life ramifications out. You really have to wonder how much more firepower do the bears have? You really do. And today, you know, we could have had our second close of technical damage back to back days on the queues. The Dow was down like 250, 300, whatever it was. The Nasdaq went red. Everything started falling apart four or five, six dollars off its highs. And the market did a great job. They did a phenomenal job. And if you look at the intraday price action of the queues, again, we could have broken down. We could have taken out this whole channel here. Instead, we rallied. We reclaimed the 213 level. And now all the queues need to do. And again, that's kind of a big tall order. But all the queues need to do is reclaim the five day moving average, which was 216, 67 a couple of days ago. And then we have another push out to the upside playing devil's advocate again, because there's no such thing as, you know, everything is great and pure and predictable in the world. The one thing that I didn't like, despite what we just talked about is the second day in a row that we are below the five day moving average. And the one thing that the bull does not want to see, okay, if pearl bulls do not want to see is the sellers getting comfortable and started building lower highs. So far, we do have two lower highs in consecutive sessions. You can make an argument, three lower highs from the blow off top from the last day of April. But again, for me to start questioning the bullish thesis, the bulls are going to have to give up this 209 area on this whole rising support. Until that happens, again, you have to give the bulls the benefit of the doubt. And when you look at that where the healthy price action is, you really luck, you really have to like what beta is talking about. And if you look at the beta charts, again, we'll go through the individual pivots pretty straightforward data, things, you know, played out pretty well. You kind of see exactly where again, the sentiment is Shopify is ready to take out 52 week highs. You have Netflix, right, they came out with earnings, they sold them off, they held the range. And now we're literally one day away from really exploding back to the upside. You have NVIDIA, right? You have NVIDIA, again, held the bottom of the range, stopped at the five day. If it confirms tomorrow, it's going to go higher as well. You have Roku, it's getting firm right ahead of its earnings. If you believe that everybody's subscription numbers went up, Disney is reporting shortly. You have Netflix, obviously 15, 16 million new subscribers. You have to assume that Roku did benefit again from the whole COVID-19 scenario. Just look at all the people who are downloading from the internet aspect of it. Even Apple had tremendous amount of revenue coming in from its iTunes store. So again, if this model plays out, then again, Roku should be okay as well. Again, we're literally one day away from Roku breaking this whole downtrend here. So we're looking very, very good, really, really good. But the most amazing part is this Tesla, man. I tell you, it's the most amazing part. If you would have told me 20 years ago when I started that the CEO of a company was going to basically downgrade his own stock on extreme valuation, how do you not think the stock is going to follow through the next day? And the most amazing part is not only did it not follow through the next day, it basically took out the whole candle from Friday. That's just unbelievable. There's nothing less, nothing more spectacular than bad news being engulfed and the market continues to take out price action. Tomorrow you got BYND reporting. Again, are they going to be the benefit of the whole shortage of meat? I'm not in that camp. I could feel the play on that. I get it. Tyson talking about shortage of meat. But again, as I said, I doubt very much, including me specifically. For example, I like Morningstar products, not because I don't eat meat. I love steak. But my wife started eating Morningstar products a couple of years ago. I just like the way it tastes. But by no stretch of the imagination, if a sirloin wasn't available, what I turn around and say, you know what, I need beyond meat. It's apples and oranges. So in my opinion, I don't think it benefits from any shortage of meat. But again, people run with anything. They hear something and they say, well, obviously this is a pure play on the shortage of meat. We'll see about that. They report tomorrow. I believe Roku reports on Thursday. SHOP reports on Wednesday. And this is kind of what we want to start off the day. This thing just looks absolutely amazing. You got a buyer come in ahead of earnings for the 8, 10 weeklies. And let's talk about today's session again. Pretty basic stuff, right? Pretty basic stuff. Certain days you don't need to dissect and overanalyze. The pivots were strong. They all confirmed pretty aggressively. Obviously, Tesla was beyond the strongest one of the day. But pretty good stuff. Pretty good stuff. And the most important part, again, we're giving the bulls the benefit of the doubt. So let's talk about it. 706 rejected three times on Tesla. It needs to build the spike. Now, look, I was in Tesla today three times. No complaints. Absolutely no complaints. I didn't think for a second. Here's the 706. Everybody see this? This is where we talk about sneaky pivots, right? Yet 706, 706, 706. What I thought was going to happen today, what I thought was going to take out 706, trade to ride around here between 716, 720 area, get rejected because, again, Common Sense says CEO's downgrading his own stock. It's going to turn around and go back lower. Never did that. It stopped here. Next candle stopped here, confirmed, went into here. And then by the time I logged off, I know a lot of you guys did catch it. That 750 push took this thing all the way into 762. Just absolutely amazing move. Congratulations. I know a lot of you guys did very, very well. Again, I was in this thing three times from here, from here, from the here, to all the here. So it was good. There was nothing wrong with it. Again, nobody saw this coming. I mean, nobody saw a complete engulfment of the previous day's news from the CEO. So crazy move on that. My initial thought on Netflix was going to be a 411 breakdown. It never got there. We'll talk about the upside pivot in a second. Boeing never got to the 12350, 123 macro short area. Apple, nice move on Apple. 290 keeps on getting rejected. Needs to reclaim and build. Here was Apple. Here was the 290 on Apple. It kept on getting rejected right over here. Everybody see this? 290, 290, 290. Finally took out the 290. Again, we're not looking for the top of the channel, the bottom of the chart. Everybody's looking for breakouts. Everybody's looking for breakdowns. The key to these channels and these pivots, we're looking for the meat inside the sandwich. So if this is a bun and this is a bun, we're looking for the meat. All this is the meat. So here is 290. Here is 290. Here is 290. It broke 290. Nice first push to 292 and change before it started coming back in. But nice move. Nice move on Apple. ZM upgraded today. We talked about this 4175. 421 needs to build. Again, second entry. So here was ZM. Here was ZM right over here. Here's the 4175. Here's the 4175. 42 area. Got above the 42. Just really nice strong move to 45. So nice move on ZM. NVIDIA never got down to the 27850, 278 level. Actually like NVIDIA to the long side tomorrow. Amazon never got to the downside. I was looking at that 2245 pre-market low, which never got down there. I actually kind of like Amazon and NVIDIA to the upside tomorrow as well. Shop is a beast, right? So Shop, they held all the ranges from Friday. Here are the two levels that I was watching. 629 and 637. Two areas that needs to reclaim and build. And Shop went crazy. Really, really crazy move on Shop. So here was the 629. 629 was the previous days low. Excuse me, previous days high. Okay, that's the 5-day confirmation. And 637, what was the second number I got, was the pre-market high. So it took out 629, took out 637. And we are literally one day away for that 666. 52 week high. So fantastic move there as well. Baidu, not a big move. If it builds below, can flush 94, 30, 94. Not a big move on Baidu. Here was the 94, 30. Right, 94, 30, 94. Only went down to like 93, 50s. But again, I didn't personally trade Baidu. If you did, God bless. A little cash flow there as well. This is where Netflix went nuts. I mean, really, really nuts. And now Netflix is literally a one day away from really, really getting extreme. So 418, 75, 419 needs to build. Here was Netflix, right? Here was Netflix right over here. Right over here, this whole channel here. 419, right? Everybody see that guys? 419, 419, 419. And first move went to 423. And now we are really, really one day away from challenging this range here. Went to like 28 and a half. So very, very strong move on Netflix. Again, if it confirms the top of the channel, I think it could be a very, very big move. We saw a bunch of 450 near term expiration. Call buyers coming to the name. So they're definitely positioning for a 450 push. ZM again, take on the way up. Netflix super strong shop take on the way up. Amazon 2055 never got there. So I said, listen, good early action. We had a really extreme early action. And then I said, just wait, just see what happens a little bit later throughout the day. Apple keeps on going. Again, Tesla just a $40 candle. I mean, that's all it is. Well, it's all it was a $40 candle. Boeing didn't work. Boeing didn't work here. 127, 120, 127, if it builds below can flush. Only went down like 30, 40 cents. This one didn't work. Here is the 127. Here is the 127, 50, right? 127, 50 area. You know, went down, you know, went down a little bit. Didn't, you know, maybe went down 40, 50 cents. Didn't, there was no price action. Turn around and went back higher. Netflix again, 428 Friday's highs. Big area now buyers are coming in. So very, very aggressively. So, you know, again, there's certain days that are pretty straightforward. Sometimes again, you're getting the price action pretty quickly. It's sometimes it's very, very clear to read. Going into tomorrow's session again, as long as the bulls do not drop the ball and start reclaiming this area here, I think we rally. I think we rally. But again, the most ironic part about that is about two o'clock, 2.30, you know, I talked about, you know, we're putting in a second lower high on the daily chart of the queues. And lo and behold, the market woke up. So even though I am bullish for tomorrow, I definitely am bullish. But again, I'm not naive to know that everything that we talk about today has to be confirmed. So of course I'm watching Tesla, of course I'm watching Roku and Netflix, Netflix and Roku really, really strong charts. Shop looks like it wants to test 52 week highs as well. But again, I'm not naive. I'm not going to start forecasting and predicting these moves. I'd like to see everything confirmed. I want to see everything valid. And I want to see the price action build and start putting its next leg up. So guys, have a great night. Good job today. And with God's help, again, I'll see you all in the field tomorrow. Take care, guys. Congratulations for putting in the time to take control of your trading. 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