 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 TheAccessToTrader.com. Nightly wrap-up show. Hope everybody is doing well. If you are brand new to the channel, guys, just like, share, subscribe, show support, and we will continue to bring unbiased context to be a technical analysis. I'm going to try to keep this very, very short. Today is my daughter's first varsity basketball game. She's literally the only freshman on varsity, so I'm super-duper excited. So she has a game in one town. My son has a game in another town. There's only one of me, so I got to get there. I got to get there. I got to get at least one of the kids. Hopefully they'll get home. So I'm going to make this kind of short and sweet. So yesterday, we saw what pretty much was, at least for the short term, a soft landing off the rising 20-day support. We lost the 388 level on the Qs, and we traded down all the way down to 382, which gave it a hammer. If you watched last night's video, we talked about a hammer. It usually is bullish. It doesn't mean that is the bottom. It just means that usually the next day, the market will at least facilitate a little bit of a snapback, right? And that's exactly what we got today. If you look at a lot of names, a lot of names did have snapbacks. Yes, a lot of names didn't participate, but a lot of names did have the snapback based on this hammer. When you look at all the big ones, right? Amazon had a nice move up. NVIDIA had a really nice move up. Microsoft had a really nice move up. Apple had a really nice move up. You've got to get the point. And the most important part going into tomorrow's session is kind of understanding where we are in the dynamics of things. Yesterday, we did hold the rising 20-day moving average. So write down these levels, right? 382.66 is yesterday's low. That is the line in the sand going forward for the next couple of days, couple of weeks, whatever the case may be. This will be the big number. It's not a number that you have to sit there on social media and argue with somebody about that is the number. That is the rising sports. If the bears get it below this rising sport, there's a lot of room down. Now, there's a flip side to that, right? So if you notice today on this rally, again, call what you want. But on this rally today, the bulls got up to the 5-10-day moving average and they got rejected off that. That is your pivot to the upside. So 382.66 to the downside. You have 388.50, which is now the 5-10-day cross. And if the bulls can close above 388.50, then we're going to start the next leg up into the upper channel, which pretty much has shown how strong the market is in the last three weeks. If you look at some of the other groups, IWM has had a phenomenal move off the bottom. A very neglected group. The small caps very neglected for the first, you know, pretty much 80-85% of the year or having an incredible, incredible run since the October lows on all major indexes. Today took a breath. Again, the key is try to see if you trade the IWM. Try to see if you can get a back test into the 5-day moving average for a potential bounce. If you look at the SPYs, SPYs kind of are looking like the NASDAQ 100 did before the pull. What I mean by that is take a mental snapshot, right? So if you see here, this is how you see how the Qs were hugging the 5-day and kind of talked about this yesterday, right? And eventually when they snapped below the 5-day moving average, that was the move to the 20. Keep an eye on the SPYs. They're kind of doing the same thing. Right down this level, guys, for the SPYs, 453.30. That's the line in the SPYs. It's kind of the same mirror image of the line in the Qs. If the bear start getting back below 453.30s, then you're going to have a back test just like on the Qs. Again, the groups that are still strong within the S&P 500, obviously you have the Apple. They've got to upgrade to a major move here. The Microsofts are still very, very strong. But again, it's the names like the banks. Banks are holding this rally really, really well. Look at the retailers. Look at the retailers continue to show really good strength, right? Look at Etsy. Even Target that I've been swinging now for a week and change. Even the down days are very fractional. So the S&P 500 is still correlating pretty, pretty well, holding and maintaining the 5-day and the 10-day support. And that's going to be the key going forward. Tomorrow, how do we begin? Again, we're right in the middle of the channels. They're definitely selective stocks that do look very, very good going into tomorrow's session. Qualcomm, I like a lot. Qualcomm is consolidating, has not sold off. Even when they try to sell off the market today, it's one of those names that couldn't go down. It's just a really, really strong move. AI has earnings, I believe, tomorrow. Again, depending on the earnings, keep an eye on AI on the top of the channel here. In case they come out with really good earnings, this one could do pretty, pretty well. ARM, another recent IPO semiconductor name. It's holding very, very well. Watch the top of the channel here. If they start taking out on November highs, this thing can wake up. This thing looks really, really good as well. Zoom, right? Zoom was the darling of the whole stay at home movement and the whole COVID craze. Honestly, it's not that far away. They had pretty good earnings. They've been building above the 50-day moving average. Watch the last supply here. There's literally one last supply here to go. Maybe it gets there, maybe it doesn't. But this is a name we definitely have to keep an eye on for the next couple of days if it starts to wake up. I'll tell you one thing. Today was absolutely nuts with Tesla. We call Tesla pretty well today. It wasn't a fact. Here's the crazy part about Tesla. You see this whole candle here? We'll get to the pivots in a second. Tesla today had incredible. What I mean incredible, we had incredible $250,000, $255,000, $260,000, both weeklies and the $12,000, $22,000 exploration. And they just weren't coming with $5,000, $10,000, $15,000, $20,000. They were coming with six and seven figure bets. At one point, it looked like Tesla was about to go back to last week's high. Give us a five and a half, six point move incredibly out the open and just as fast, right? Just as fast as the stock did an incredible move, it's like they took out life out of this thing at lunchtime. And it gave pretty much 50, 60% back into this area. And if you look at the daily chart now, it goes back into the range. It went absolutely back into the range, which is very, very odd. And it looked like the first part of the morning, there was padding buying to get out of the stock. You could see it by the 60 minute view. It was padding buying, getting into the stock. And it looked like a forced liquidation coming out of the name. Again, there was no news on it. At least I see specifically, but I'm assuming the next couple of days based on this price action, we should get some sort of clue of what that will happen today, but pretty good move. Definitely, definitely good move. And that's that. NVIDIA, right? NVIDIA, it's had a really hard last several weeks, has come in, held a 50 day moving average. And keep an eye on NVIDIA. You see how it keeps on getting rejected off the orange line, right? That's the five day orange line rejection, orange line rejection, orange line rejection. It got to the orange line basically today. It needs to reclaim back that five day moving average because if it does, it could start moving higher. So it's very, very important that the cues kind of get out of this channel. Again, the big number is going into tomorrow is the cues need to reclaim. The bulls need to reclaim 388.50 to the upside, which will reclaim back the five and the 10. And the bearers, their job is to take down and confirm and start building below. Yes, these lows, which was 382.60. Other than that, guys, I apologize. I have to cut this short. I got about a 50 minute drive to Spartan, New Jersey. I have no idea what the hell that is, but it's about 50 minutes away from my house. And hopefully I'll make it there in time to see my second born. Second born play her first varsity basketball game. Guys, God bless. Have a great night. I will see you all tomorrow. Take care.