 It's the five-day bounce on Friday, hit the five-day bounce. So they're holding it up to battery day. Now the question is, what's going to happen at battery day? 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 morning, everybody. Welcome to another edition of the AccessaTrader.com Weekend Update Show. Hope everybody is having a wonderful weekend. Temperatures are definitely getting a little chillier now into the mid-60s and the most ironic part of it, like the way I'm complaining about it now. Give it two months or we have a high of about 35 degrees. So hopefully everybody had a wonderful rest this weekend. Again, crazy market. If you look at the scoreboard, you're not going to really get a good sense of how erratic the market was. We went through, if you watched this update for the last week or so, we saw very, very specific levels, why the market did what it did, held the 50-day moving average, traded into supply, rejected of supply. We talked about levels to the downside. We talked about macro levels, very, very specific names we talked about as well with the apples of the world and the Amazons of the world, and we'll get to that in a second. But I think most traders really found a very, very tough time this week on a number of fronts. Number one, when you have a market going from demand, right, so here's demand, we recovered demand, into supply, back to roll over and testing lows, you're going to have a lot of erratic action. This was the type of market this week, although the action was fine. There was nothing wrong with the action, especially Monday, Tuesday and Wednesday. The action was very, very solid. What happened around Thursday when we started seeing the test of the five-day moving average of the queues, which we talked about, was the initial short-term sentiment. That's why it was so important, because again, if this area breached, if you go through the last couple of videos, you see that, then we knew the test of the bottom range was going to happen. But the problem was, this wasn't like a normal week that stocks went in the same direction. Usually, especially in beta names, for all you guys who are joining us for the first time, beta is the most highest aggressive, expanded channels in the market. You're Amazons of the world, you're Teslas of the world, you're Apples and Facebook and so forth and so on. They usually trade as a trot. If one goes up, they're all going to go up. If one goes down, they're all going to go down. If you look at the scoreboard this week, you're going to see the NASDAQ composite was down a fraction. It wasn't down a lot. The Dow was flat. The S&P was down about 7.10 of a percent. You're not going to get a sense of the correlated action or not a correlated action, but you saw a lot of big disconnect. Teslas this week, and we talked about it in the beginning of the week, I felt they were going to hold the stock up just because, again, battery day is around the corner. It's a couple of days away, so you knew there was going to be a lot of people anticipating the trade, anticipating good results or good PR from the battery day. There was going to be some sort of hypothetical floor that even the most aggressive bears are not going to start putting in fresh capital ahead of a macro catalyst. You knew Tesla was going to stay up, and it did. Tesla held up pretty much the whole week, but if you started looking at other companies, especially in the tech space, it was very, very important to understand that they were trading at a very, very big disconnect. For example, Amazon was weak the whole week. Literally, it was absolutely weak the whole week, and you started seeing names like Zoom holding up very well. You started seeing names like BYND with a couple of pretty decent catalysts held up before Friday's sell-off on a downgrade. So it was very, very odd, right? And most important part of what we saw this week was that contraction of channels. And for all you guys, like I'm an equity guy, but for all you guys who are option traders, if you buy premium, you know if stock's not going up and stock's not going down, your premium is going to go away very, very quickly. And a lot of traders saw that. And the problem is when you get a market that has no definitive bias, you could see the formation setting up, and you could see it technically potential testing different levels. But when you don't get a clean break one way or another, you're going to define yourself in a lot of trouble because, again, stocks, there's just not enough aggression for stocks to go up. And obviously, there's not enough fear for the stocks to go down. Again, that's why they were completely disconnected this week. And a lot of traders I spoke to, especially trading on the option side, unless you were selling the premium, OK, you saw quickly how fast things could go up very, very quickly. And the most important part is when you are a trader or any type of trader, you could be an options trader, you can be an equity trader. Again, it's incredibly important to understand that you don't need to trade every day. We try to cover this and try to really drive point to home very quickly because, again, the market is not trading on your time. If you are a passive investor or a passive trader that only has maybe two days a week to trade, the market doesn't care that you're off this week from work that you can trade. If the markets are contracting, if the channels are getting tighter by the second, you're going to lose money. Because again, there is no bias. There is no clear way to the goal line. So it's incredibly important that if you are a trader of any level, whether you're trading five days a week or you're trading one day a week, two days a week, it's really incredibly important to understand the market is open. It doesn't care that you want to trade. You'd like to trade, but you don't need to trade. You want to trade, but you don't need to trade. Again, it's not the market's job to put you in a position to succeed. The market's job is literally to take you and separate you from your money. So it's incredibly important to put on the big boy, big girl pants and understand that if there is no value, you can trade. There's nothing you can do in the market to squeeze water out of a rock if the channels are contracting. And unfortunately, because of, again, just on the first site of the indexes, because you had such contracting channels most of the week, whether it's to the upside, we're capped off by technical areas of rejection, which is supply, or to the downside that kept on rolling over. But you saw so much strength in the market that a lot of people just said, ah, I get it. I get it. Hit supply, but we're not going to go lower. Ultimately, we went lower. It was a very, very challenging week for a lot of traders, especially new traders. The difference between a trader who's been trading for 20-something years or a trader who's been trading for 20-something weeks is you don't know this information yet, right? You haven't been exposed. Because again, all of social media has taught you for whatever the time that you've been on social media is there's always an opportunity, right? There's something somewhere that you could take advantage of. And that's true if you trade everything. It's true if you don't have a process. It's true if you don't have a bias. But if you have a very, very specific way of trading, if you found your edge and you're just trying to omit other areas in the markets that are a weakness in your game, you're not going to have that reality. So for example, if you have some $2 stock up 200% and you trade Amazon, what is the difference how much that stock is up if that is not your sweet spot and vice versa? So I found myself very, very patient this week, incredibly patient. My patience was really put to the max. I was really a statue this week. And there was nothing wrong with the action. But by the time around Thursday rolled around, I was incredibly tired. I couldn't, if you guys noticed, I didn't record even the video on Thursday night, because we had such a long, I just sat there for most of the day and did absolutely nothing because the market gap down, I was looking for a reversal just strictly because 90% of the stocks on a major gap down put in their average range. And it never hit my areas that I could buy stock. And obviously there just wasn't enough channels that you can justify and move lower, especially for Thursday. For Friday's session rolled along. Friday was actually the most aggressive day from Wednesday to Friday. You had some really aggressive moves to the downside. We'll talk about the pivots in a second. We had some really aggressive moves to the upside. Fortunately, the part was Friday, I was getting a generator installed in my home. So I was only able to trade to about lunchtime. So I caught some Amazon, Amazon was fine and got really destroyed after I logged off. But the most ironic part and this is kind of how it shows the big disconnect for the week, stocks got really stronger in the week towards the end. Like stocks like a ZM, a stocks like a ZM and a stock like a Peloton and a stock like Snow who debuted, which was, I think they said it was the biggest software IPO of all time. So the most amazing part is I missed these moves. I missed the big move on the cues on the flush. We'll talk again, we'll talk about the specific levels of the second. So a little bit tiring, mentally consuming week, especially towards the end. A lot of us are just so brain dead that we need a lot of rest. So the weekend for me is like a fish getting new water. But I think right now the most important part is to try to figure out what's next. And I think it's our job is to be unbiased. Our job is to have an open mind. And our job is to let technical analysis and price action kind of tell us what's next. So let's talk about some of the price action and where the markets kind of can go next. So we talked about these levels in the beginning of the week, actually towards the middle of the week, the rejection on the cues, on the 10 day moving average. This was kind of the line in the sand. And again, guys, I want to, this is really going out to the newer traders. Okay, the experienced traders, we get it. You can't feel a certain type of way. If a person's been trading for 20 years, and I'm telling you, look, this technical analysis, there's a line in the sand. I don't care, we cover this couple of videos back. I don't care how good the company is, right? So for example, I love Amazon. I love Tesla, right? I love Apple, okay? I love these companies. But if technical analysis says they're going to go down at a very, very specific level, there's nothing you can do about it. Our job is just to be aware of technical analysis. So it's very, very important, especially I understand, a lot of new traders are in the game for a very, very short period of time. You're sensitive. I get it. I was exactly the same way. You're biased. You fall in love with your stock, okay? Anybody who says anything bad about your stock. And again, nobody's saying bad words, okay? This is the stock market. The market's going to go up. The market's going to go down. I love Tesla to the long side. I love Tesla to the short side. It doesn't make a difference. Amazon, we know it's the greatest company in the world. We get it. But when there's opportunities in the downside, there's going to be opportunities in the downside. We know that Apple has a quarter of a trillion dollars, okay, in the bank. We get it. We love the products. I have a MacBook. We have iPads. We have the iPhone. We have everything, right? But the moral of the story is the stock market is there to make sure that number one, you are aware of technical prowess. You're putting yourself in a position that if things look murky on a technical side, you could put yourself in a position ahead of time. Again, you don't need to watch your position bleed into eternity. And again, there's no reason to believe that at any given point that you're owning a stock, that it has to go back up, right? Think about it. All you have to do is go back to the internet craze. All you have to go back is to 2007 when the start of the mortgage mess, anybody who long stock in the beginning of 2007 was really, really underwater. Did it make a difference how good the company was? Does it make a difference what they do? So for new traders, again, I understand social media is nuts and people fight on social media. You're an idiot. No, man, you're an idiot. Okay, I'm the king of the idiots. There's nothing left to say. There's nothing more than the highest point of being the highest idiot. So I'm the highest idiot, but as the king of the idiots and the chief of the tribe, I'm gonna tell you there's no reason to fight with anybody on the internet. If you along Apple and somebody says, Apple's going down, okay, it's words. Words hurt, you know, okay? Gotta be a little bit harder skin. Can't be sensitive, okay? That's the number one rule of any type of investing in the stock market. Whether you're investor or trader, okay? It's words, okay? It's opinions. Everybody has an opinion. So it's very, very important, again, use technical analysis to form your own opinion of what's gonna happen next. So for example, okay, Tesla battery day, right? Tesla battery day is coming up or a couple of days away. Big, big run on Tesla, as we all know, huge run, okay? Stock split, it's a cold stock. I love Tesla. Love Tesla. Let me repeat this again. Love Tesla, okay? Love the car. Love the stock. But I also love the stock when it goes lower because it's very, very definitive opportunities. When it happens. Right now, we're at the level and you can see how important, again, we talk about the five-day moving average, how every single time it hits the five-day moving average it bounces, right? So for example, it's the five-day bounce. Hits the five-day bounce. Hits the five-day bounce. On Friday, hit the five-day bounce. So they're holding it up to battery day. Now the question is, what's gonna happen at battery day, right? Everybody knows battery day is coming. Everybody knows they're gonna talk about battery day. So my question, again, to the permables and again, I'm on your side, okay? Don't get nervous. But what happens, I know it's crazy, but what happens if they come out with battery day and it's the sell on the news? I know it sounds crazy, but what happens? You just have to be prepared for that, okay? If it was just as simple as buying stocks and anticipated catalyst event, then everybody would just be long, right? Everybody, like for example, Apple had their Apple event, right? They had their Apple event. And we talked about Apple to the downside levels. We talked about the 110 area, 110 area, 50-day moving average. We talked about all these different things. We saw what happens in, again, they ran the stock up into battery day and then they sold it. So my point is again, don't fall in love with your piece of paper, okay? Don't fall in love with your ability to completely close your eyes and hope for the best. Stock market, again, we don't know what's gonna happen in the battery event. It sounds cool, right? A thousand-hour battery, whatever it is. Whatever they announce, it sounds cool, but at the end of the day, does it really make a difference? And again, if it was so easy and it was such a slam dunk that they were gonna explode this thing into battery day, then everybody'd be long. There's a reason why people are making bets on the other side of the market. Again, we don't know. It's like going into earnings, right? You never know what's gonna happen in the earnings. You know, companies coming out in earnings, they're supposed to be good, but you know what? There's sometimes they sell the stock off no matter how good news. So again, if you are a perma-bull, especially in Tesla, just keep in mind, again, there's always a possibility for a sell-the-news type of scenario. Again, I would love to see Tesla back to 500. Okay, I would love it. You know, again, it's a feel-good story. It's a growth story. But again, I'm not naive. If they come out with some news that the market feels like, okay, it's cool, but it's not cool enough. There's a very, very strong possibility they can sell it off. So just be aware of that. Again, stocks go up, stocks go down. Be a responsible trader. If you don't want to be a responsible adult, be a responsible trader. You know, trade would eyes-wide open instead of eyes-wide shut. And just understand there is a possibility, and crazy it sounds, but there is a possibility that stocks will not go in your direction. So let's talk about the technical view. I know I got a little sidetrack. So here's kind of what we are. Here's kind of what we are on the cues. So we got it rejected off the 10. We talked about on Wednesday's video, I believe the importance of the five-day moving average, that confirmed Friday, as you can see here, confirmed the whole macro channel. And again, as we talk about in part of the PS60 theory, stocks just don't stop. They stop at areas, they stop at areas from supply to supply and demand to demand. So the fact that we stopped at the 62 level, that's exactly what we were talking about throughout the week. Again, I'll show you on the pivot if you're feeding a second. The problem for this week for the bulls, okay, you see all the supply here, right? All the supply, every single time it kept on hitting supply, got rejected, right? Got rejected off the 10, got rejected off the five. And now we're kind of going back here. So we could get a day, because again, this is a hammer, right? This is a hammer just the way it was a hammer right here. So we could get an update on Monday, but just watch your levels. Because again, if a lot of stocks are bouncing into supply, and you'll see here here, for example, 74 is the level of supply for the cues, you have to make sure whatever stock you're trading on Monday or investing in, again, doesn't get rejected off the 74 area on the cues. Even if you don't trade the cues, you need to have an understanding where supply is. For the bulls to have a shot to go higher and kind of start reclaiming levels, we need to close over 274, right? That's the 10 day moving average and slowly but surely baby steps that needs to go to 277, so forth and so on. But again, keep in mind, supply is real. It's areas, again, if you ever watch the PS60 workshops, again, we talk about this very, very clearly, supply is the areas that emotional buyers meet technical sellers, the technical sellers, I give you my word, will win that nine out of 10 times just because the area of supply is so obvious. So it's incredibly important to understand your levels. To the downside, if we get rejected off this 274 level and we close lower, then again, there's a very high probability that we'll retest this 262 level on the cues. If the cues lose this 262 level. And again, if you believe in the theory, stocks trade from supply to supply, demand to demand. And again, you can see 257 is next and 254 coming up after. So it's incredibly important for the bulls. Again, there is no bias. I couldn't care less which way we trade the market. It's very, very important for the bulls to reclaim this 274 area, at least baby steps back to the next supply level. If you look at the S&P, right? If you look at the S&P, we talked about the importance of this 3425 level several times, and you can see here, it got rejected twice throughout the week through this area here, tested back to this rising port of 3310, broke the 3310 and went absolutely lower. Again, same thing with the S&P. Like right now, you can see here the 10-day moving average is 3368. Everybody see that, right? 3368, you can even make a bold case. We really need to reclaim 3390. Because they're kind of next to each other. 3368, 3390. So the bull cases, they need to at least get control and reclaim back 3390. And obviously the macro level here is where they kept on getting rejected off 3425. Again, let's not put the cart in front of the horse. So one step at a time, 3368, they need to reclaim then 3390. And obviously this is gonna be the big area here. But now at least we have a very definitive level to the downside as well. So this candle here, which is 3292, if it starts getting violated and you'll see this bull in your band going lower and lower and lower, this will be another sell signal. And again, if you get a macro sell signal in the market, MS and P500, then you have it room all the way down to 3229. So again, I'm not a bull, I'm not a bear. I'm just a realist, okay? I'm an idiot, the king of the idiots, all that stuff, okay? But I'm a realist, I'm an opportunist, I don't fight the tape. Wherever the market goes, that's where we're gonna go with price action. Because again, our opinions mean absolutely nothing. So let's talk about Friday's session. It actually turned out to be a very, very aggressive session. The problem is again, I was trading with very, very little time. They had to cut off my house, my home's power. Monday they're actually finishing up, they're actually finishing up my generator. But the action was very, very aggressive. So let's talk about this. So Tesla, 448 rejected twice pre-market needs to build. Again, this 462 is still the macro area. Again, even if it doesn't get there on Monday or Tuesday or never gets there, just remember guys, this 462 area to the upside is a very, very important level. Though the problem is, Tesla really didn't get going on Friday. If you look here, 448 on Friday, only went up a few points. And that was the problem here. Let me just show you, I'm sorry. The charts have still haven't updated from my e-signals. So here is 448, it got rejected here twice. That's what we talked about. It got rejected here twice pre-market. So it only went up three points. Only went up three and then got rejected again. But again, I like the way Tesla held up. And again, kind of goes back to the beginning of the week. They're going to hold it up. The value in Tesla until the battery date is definitely by on dips into rising 60-minute support. And you can see here, every single time it hits rising 60-minute support, it bounces as well. So we want to watch Tesla, we definitely, I'm definitely long biased Tesla up to the event. Okay, I don't know what's going to happen after. Again, it might be sell the news. There might be a gap in run. We don't know, but at least until the battery event, there's going to be people buying this thing on dips. So you're not going to get any fear. So the value play up to the battery day is definitely by the dips into the rising 60-minute support. And then things got really, really aggressive. Unfortunately, I wasn't here for the ZM move. ZM went absolutely nuts. ZM, we talked about 41950, 420 needs to build. ZM went absolutely nuts, like really, really nuts. So here was the whole channel, right? Right over here. It took out that 420 level. And this thing, I mean, this went, like this went towards the end of the day. I was already long gone. I logged off. It went from 420 all the way up to 442. Again, there are parts of Europe considering, because of the spike of COVID, considering going back into some sort of form of lockdown. Again, this is obviously the biggest beneficiary of any type of home, a continuing stay at home movement. So ZM is a huge move. If you've caught ZM, congratulations. I was watching NNLX for another washout. If you guys remember on Wednesday into Thursday's pivot, we had a pivot of 30, it was a 34, 35 to the downside. Obviously, reverse course went back to the upside. There was never, never came closer to 28. Snow, right? The biggest software IPO of all time. 235 needs to build on the 16 minute channel. And again, it was very, very clear instructions. We've never traded this thing before. So definitely tiered down your size. Again, Snow went after I logged off. Unfortunately for me, if you guys did catch it, congratulations. And again, this is why I stopped trading IPOs for years, the first day, right? The first day it came public, big premium, went to 300, went reverse. You have no, you know, you have no course of measure potential. You have no course of a safety net. Okay, at least when you get to day two, day three, all these little squiggly lines, right? That a lot of new traders say, hey Dan, how can we have all these lines? Yeah, no reason, right? They're just there to give you a reference point of where the stock can go, what happens next. So we talked about this pre-market, this 235 level right here, right? You see everybody see this 235 level right here. So it took out with 235, almost ran to 250. So if you caught Snow, congratulations, big, big move there. MLHR, I still like it. It never got to this 330, 330, 330, 330, 330 level for a bounce. The 3520 I still like here. Facebook never got to 260, 50. NKLA never got to 35. This is my only, literally my only trade of the day and then I logged off. Amazon 309, if it builds below can flush. Amazon got murdered. We identified several key levels throughout the week where I thought it was, you know, have an area of potential flush. 3309 was the low macro wise, right? It was the low, where the hell was the low? Where's the 60 minute channel? It was this low right here, this whole channel here. So 3309, it took it out. It just got absolutely murdered. Obviously I minimized the trade because the big move came towards the afternoon, but it was okay. That was okay. I was fine with the results. It took out this whole channel. Just went down, you know, went down almost like a hundred points or so. So if you did catch the whole move, congratulations, I obviously minimized the trade there. But again, Amazon was really, really good. Yeah, 3309 and 2976. And then there was measure potential went down to 2944 and ultimately went down to 2905. So again, the generator people were screwing up my internet. So I had to log off, zoom again, take on the way up. Apple got hit as well. Again, we covered a couple of areas of Apple this week. Number one, the 50 day moving average got pierced. That was that 110 level. Then 10830, 108 for builds below can flush. So here was Apple, right? So here was Apple, here was the 110 macro wise. 108 was the previous day's low. 10830s and traded all the way down to 106. So big move on Apple. And here's the macro channel, right? Here's the macro channel. And again, unfortunately, all this happened after I logged off, but 266.65 macro area. Any close below confirms the September 11th lows and can see 262 next week. Guys, I said next week, it happened in an hour. And that was the most aggressive part of the queues. So here was the 6650, right? 6650, we talked about getting down to the 262s, right? And went down to 262.63 in an hour. So really, really aggressive flush. Definitely monster moves all around through the day. And it actually continued to get more aggressive. Netflix 467, big area if it builds below can flush. 463 is macro. And again, unfortunately, all of this happened after I logged off. So if you guys got all these trades, congratulations. I'm punching the air as we speak. I know all jokes aside, great job. 467 needs to build, 463 is macro. Here was Netflix, right? So here is the 467, right? 467, right here, excuse me, 467. And went all the way down to 458. And again, just tested it right into rising support. So it was a big move there. And Peloton woke up. Peloton went absolutely nuts. 86 needs to build on Peloton and Peloton went nuts, right? Here's Peloton. So it took out the 86, these two channels here and traded right to 90 bucks. So you got some really aggressive action. You really did some big, big moves coming in on a lot of these names. And now we're kind of waiting to see who has control of Friday's action technically. The prudent thing to do is definitely watch, watch the action for the first 30 minutes. Again, there's gonna be a lot of noise. There's gonna be a lot of emotional buyers and sellers coming in for the first hour, first half hour sold to Marcus. You kind of let everything play out. Obviously, there's some definitely strong names out there. Zoom continues to be incredibly strong. You can see where your measure potential is. So this is a name I'm definitely watching for any weakness for a possible dip buy into rising 60 minutes support. Peloton looks incredible as well. Again, it's all these stay at home stocks released some of them, right? Netflix got killed, Amazon got killed. But some of these stay at home stocks are starting to wake up. And you can see again, potential on Peloton all the way to the 96 area. So it all depends exactly where we are, how we open up. But again, we have to use the Q's 274 area as definitely a guide over under. Any reclaim over will go higher. Any rejection of 274, there's a very, very high probability we roll over. So guys, have a blessed Sunday. I wish nothing but the best in health and happiness for everybody. If you are a new trader, just again, relax, okay? Trust technical analysis. It doesn't make a difference. If I'm saying the stock, I like the stock higher and you think it's gonna go lower, deal with it, right? It's just technical analysis. If I'm wrong, I'm wrong. If I'm right, I'm right. Again, the world doesn't stop. The world doesn't end. It's not a contest, okay? It's all about technical analysis. The market's gonna do what the market's gonna do. Your job is to be aware, understanding the dangers and to use common sense. Guys, God bless, I love you all and I'll see you on the field tomorrow.