 So the market's just not going to write tap you on their shoulder and say, look, this is selling is done. I'm going to go back higher or, you know what? This is a blow off top. I'm going to go back lower. Again, you have to always prepare for the worst case scenario and always be conscious that the other side of the market can really, really push you away. 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, giving everybody welcome to another edition of the access a trader dot com. We can update show. Hope everybody is doing okay. Hope everybody's having a great start to your weekend. You'll probably get the video somewhere around Saturday evening, Sunday mornings. Hopefully everybody is doing well. So let's talk about the market. Yeah. So here was the scoreboard towards the end of the week. Right. We had two days of pretty good rallying off the bottom of the ranges on the cues on the SMH is a lot of the indexes. And despite the really big aggressive strength, you can see here on Friday, the cues are up seven. This is a really, really substantial move. And if you look at the scoreboard towards and the week, you'll see, you know, pretty muted, right? You had the SMP and the Dow down over 1% for the week, despite these really pretty aggressive 24 hour rallies. And the NASDAQ 100, the composite was down about 2.5% for the week. Despite again, this is despite this really big move off the bottom in continuation on Friday. And there is some really good news and bad news kind of situation and all this, the good news is the market finally stabilized a little bit. When I say the market, especially if you're a new viewer here, I'm talking about the NASDAQ 100. I trade 90, 95% all technology names pretty much represented the NASDAQ 100, obviously, affiliates as well. So when I talk about the market, I talk about the NASDAQ 100, the heavy tech NASDAQ, not the Dow Jones industrial average that represent only 30 stocks. So the market itself, the cues had about three weeks of selling into really good news. If you guys remember earnings, right? Everything was sold. Doesn't make a difference. What they said, Amazon, Apple, Microsoft, Facebook, Google, Tesla, Netflix, didn't make a difference. Anything that came out good, bad, or indifferent was being sold, but especially good news. And we had that for about three weeks. And then the NASDAQ 100 did the worst thing possible. Okay. As the Dow was skying high and saw this really big disconnect from technology into everything else, you know, especially the, you know, especially the banks, the brokers, the retail names are very, very good in the same period of time as technology was getting pulled. And then we started losing the 50 day moving average, which was very, very important because this is where the rally that started all the way back into the end of January, February, March, the end of March had this really majestic move and then came all the way in and then we were threatening to lose this area where it broke out and then we lost it for the next several days. We saw really, really aggressive selling. If you've been watching kind of the broadcast just for the last three, four days, you know, I've been sell bias, right? Sell bias on technology, not the market, but sell bias in technology. And when you look at names, for example, like a Tesla had this marvelous marvelous sell off this whole week, despite the strength of the market, you could turn around and you say, well, what is going to be the cattle? So what is going to be the next thing that's going to stabilize technology, not just Tesla. I mean, you look at everything else and you look, you look at the cues, right? They had this really, really big move and they actually closed below this rising support for the first time in like forever, right? And you saw names like individual names like Amazon really get hit and Netflix and all of them, right? Apple didn't make a difference which one it was. And the question was, well, what's going to be the catalyst to get this market to stop selling to kind of rebound again? And here's the greatest part about the stock market. The stock market doesn't owe any of us anything, right? Doesn't owe any of us any explanation or why things are happening, why things are not happening. Is it rational or is it irrational? Again, if you were having this conversation at the start of the pandemic in March 2020, nobody in their right mind would say, hey, by the way, we're only a stone throws away from all time hunts, right? Irrational, it didn't make sense. Again, another perfect example that the market doesn't owe us anything. It doesn't owe us any explanation. So we came into Thursday's session. If you guys remember Wednesday's video, I was 100% selling buys and at one point the Dow was up 500 points on Thursday, right? At 500 points on Thursday and I kept on reiterating the point on the live one, I can't find anything to buy. There's nothing to buy in technology. They're not rallying. And then finally you saw these really big, aggressive polls on Thursday's session. Despite the indexes being super strong, you saw Tesla getting ridiculously pulled. You saw Alibaba, it had quite a nice move on Alibaba. Alibaba came out earnings got really pulled and everything. It wasn't even just them. I mean, just literally everything technology was pulled. And you turn around and say, well, how is this possible? How are these stocks so weak and the Dow is up 500 and even the Nasdaq composite as a whole is up 100 points? He started saying to himself, well, this has to follow through with the Friday, right? This is why we play the game, right? This is why we always have an opinion. We always have our plan of action. We have our sentiment check, everything lined up. But again, like I said a few minutes ago, the market doesn't have to do anything, right? The market doesn't have to do anything that you want it to be. You could plan for it. You can have an opinion. You can have your whole game plan, play out for more selling. The market turns into a dime. Everything takes it with it. And Friday we had this really aggressive rally, right? Everything rallied. Even Tesla that was threatening two days in a row below the 200-day moving average finally woke up towards the end of the day. And the Nasdaq composite and the Nasdaq 100 did something really, really good, right? They finally reclaimed the 50-day moving average after three full days being below it. And for a second, Wednesday and Thursday, looked like we were a moonshot, where we were a magnet for that 3, 12, 50 level and never got there. And this is why we say random actions happen when you least expect it. And that's exactly what kind of happened, kind of going a little bit further back. But that's exactly what happened towards the end of the fourth quarter in 2009, when people started to turn around and saying, well, when's this market ever gonna go up? I mean, up again. We have the financial crisis. Everything's horrible. And then one day you woke up and then we had the bottom of the generational bull market back in 2009. So the market's just not gonna right tap you on the shoulder and say, look, this is selling, this is done. I'm gonna go back higher. Or you know what? This is a blow off top. I'm gonna go back lower. Again, you have to always prepare for the worst case scenario and always be conscious that the other side of the market could really, really push you away. And the good news for the bulls, right? Was that the cues reclaimed on the close the 50 day moving average off that 326. We needed that close over the 326 to kind of for the bulls to get control. So this was very, very bullish. And if you have to, if you go through your charts today or this weekend, again, every single trader, no matter how long they've been the game, if you do so, you're going to kind of notice a bad news, good news, right? The good news is, yes, the bulls reclaimed the 50 day moving average on the cues that's super duper bullish. If the bad news is this, if you go through charts and you go through a lot of charts and I went through a bunch of NASDAQ 100 names, I went through the S&P 500, I went through the Russell, I went through the Dow Jones, I went through S&P, I put in a really, really long, pretty good charting session this morning. And I noticed a lot of things and I'm sure a lot of you guys who've putting in the time this week and are about to are going to notice a bunch of the same things as well. Charts are not as good as the close on the NASDAQ 100. So for example, the NASDAQ 100 reclaimed the 50 day moving average, but you can see all these supply zones, right guys? For all you guys who are joining in for the first time, again, I'm not a predictor of future events, okay? I don't know where Apple is going to be a week from now, let alone five years from now, right? We can guess, we can try to predict, but again, it's not what it's about. We trade channels, right? We trade channels to the long side, we trade channels to the downside and it's all very, very important to me of what happens next. So now it happens three days from now of what happens tomorrow. And all my research is based on the next trading day. And if you look at the NASDAQ 100, the cues, you'll notice one thing, good news is we reclaimed the 50. The bad news is it's not gonna be now, well, now we reclaimed the 50 day moving average, anybody who's short the market over the weekend is dead. Doesn't quite work that way, just because if you believe in the theory that stocks trade from supply to supply and demand to demand, you'll notice a whole bunch of trees in the forest. And for all you guys who know what I'm talking about, these are supply zones. You still have the 10 day moving average. You still have the 200 day moving average. You have the 150 day moving average. You have all these trees that the market needs to come down. And if you look at a lot of charts, you're not gonna turn around and say, hello, that's it. This is a bull market, let's buy stocks again. Am I bull biased going into Monday? Yes, I am. This is probably the first time I am buy-buy. So I want to use the word buy-buy instead of bull bias. But this is the first day going into Monday session that I am slightly, right? Buy-buy is going into Monday session just because we did reclaim the 50 day moving average. If you look at the Russell, right? This was like one day away from really falling over. And they reclaimed, you know, the five and they reclaimed the 10. So this is bullish as well. If you look at the diamonds, right? If you look at the Dow, it reclaimed the five day moving average. That's bullish. And the SPY as well reclaimed the same major level. So everything is lining up for us on the buy side, okay, of Monday session. But this is where you start putting in the work. This is where you start breaking down stocks. You start breaking down charts and seeing where are the cleanest patterns. So the good news is we reclaim. Here's the, I don't want to use the word bad news, but here is the more not as good news, right? If you look at charts, especially from the NASDAQ 100 this morning or this weekend, you'll see a lot of similarities. Stocks still don't look great, right? So if you look at Tesla's chart, although again, it reclaimed the 200 day moving average, okay, it still hasn't even taken out the previous days high. When you look at Amazon's chart, right? Okay, Amazon reclaimed, right? We're about to reclaim the 50 day moving average. Kind of mirroring the cues, but it still didn't reclaim the previous days high. If it does, that's cool, right? If it does, that's cool. But don't expect like you had a 300 point move here, right? Just because you had no supply zones, right? This really, really big move. The first time we claimed the 50 day moving average, you went on a 3, 400 point run in a week and a half. You're not going to get the same thing on Monday. Even though the 50 day got reclaimed the same way the 50 day got reclaimed here, the difference is here is no supply on the way up. And here you have supply zone, have the supply zone, have the supply zone, have the supply zone. Same thing with the video, right? And the video went on this massive move here when it reclaimed the 50 day moving average the first time. Again, the reason why it had no supply until it hit its linear regression line. So you had to move from 540 all the way to 614 before there was any type of supply. This time around it reclaimed the 50 day moving average, but again, look how much supply you have in front of you, right? You have the 20, on and on and on. So you're going to run into a lot of names that it did exactly the same thing as they did from March the 31st or towards the end of March. The only difference is this was clean coming out of a big macro channel versus a reclaim or remount that it now needs a lot of work. So even though you're going to see, if everything goes well, you're going to see upside bias in the indexes. Remember the indexes still have to pull everything up. So if you guys remember the Qs rallied first, right? The Qs broke out first above this 324, 325 level first and then everything started going up with it. Nvidia, Apple, Amazon, Facebook, on and on and on. But this time around, even though we did reclaim the 50 day moving average, don't think for a second unless we get really big gaps unless we turn around and you're watching this video Saturday night or Sunday night and you see the futures rally 250 points Sunday night. Obviously it's a whole different conversation. But again, you can't assume we're going to rally 250 points in the Dow and 100 points in the Nasdaq. Maybe we do, maybe we don't. So even though I am by bias going into Monday, just remember when you are looking at charts this weekend, just understand there's plenty of supply zones above them. So for Amazon to be good, like really, really good. And even though if it can reclaim this channel here and start making its way up, you know, $10 here, $6 here, for Amazon to really have a clear channel, a really big, clear pocket, it's going to need to reclaim like 3370, right? Or at least a close, excuse me, not even 3370. Maybe a close above what, 3330, right? For me to clean, right? You see a clean pocket 3330 all the way to 3500. For Tesla, and again, Tesla did a good job. For me to get excited about Tesla or at least have a viable trade on Tesla, at least it's going to need to clear out the five day moving average, maybe to get to 620 and then maybe to get to 630. There were some good aggressive late day coal buyers coming in on Tesla along with everything else towards the end of the day. So would it shock me to take out, you know, for Tesla to take out some levels Monday or Tuesday and finally kind of wake up? No, it wouldn't shock me. There are some clean charts out there, right? If you look at technology, like Facebook is clean. You could see Facebook is clean. This is the first day above the 10 day moving average. If it reclaims this level, then yeah, you could see that Facebook does have room all the way back to this 330 level, right? It looks very, very clean. If you look at Microsoft, right? Going into this weekend, you know, again, it did a great job for the last couple of days. It's gotten rejected into this supply zone here, right? The 20 day supply. And look at the last time when it got rejected at the 20 day supply, it came right back in. So it closed at the 20 days. So for Microsoft to wake up for this week, it has to reclaim Friday's levels. And then you can get a move maybe into the 250. So even though we reclaimed levels and especially on the cues, just we understand we're not at the woods just yet. I think it's a great first start, right? You know, again, if you've been watching these videos, I've been really sell buys for the last like three weeks, especially when you see these stocks just couldn't rally on earnings, couldn't rally on upgrades. This is the first time that I am buy buys, right? I am buy buys going into this week. I do believe the market needs a little bit of work. Okay, I do believe that, I do believe they need a little bit of work and it's not gonna be just kind of a linear line into success, but I think it's a really, really good first start. So here's some names that did look good, right? Facebook I like, it's probably the cleanest name out of all the beta names. Again, if it starts reclaiming, maybe you could get a move to the 330s. Look at even Peloton. Peloton has so much bad news. If I feel like got hit within that last couple of, you know, last three, four days has been resilient. And the last bit of news was there's some sort of probe on Friday, there's some sort of probe into something, something other, Peloton and Lulu, who the hell knows? But it did a good job, right? And it kind of brushed the news and now it's starting to move up here. First close over supply. So if Peloton can get above this channel, who knows? Maybe you can get a move back to this 104, 105 level, right? It looks really good. Even names like Funko have nothing to do with beta, right? You got a nice little channel here, had really, really good move consolidate for like five, six days. And if it starts getting above this channel, maybe it can run up as well. A name like PRMW that I really don't know about, but look how long this channel was and it finally got above it on Friday. Even the vaccine names, right? Like Moderna still needs a little bit of work, but you could see at least it's now back to the 10 day moving average. Again, yes, macro, it's gonna need to reclaim this 169, 170. But at least you can see that it's getting above these channels or trying to get above these channels to start waking back up again. So if you are going into this weekend bull bias, just like I am again, I am slightly bull biased. I am sell biased this weekend. But again, I know we're not out of the woods yet. I know even though we could see some indexes strength Monday, Tuesday, it's still gonna need a couple of days for these stocks to kind of catch up to everything. So guys, that's it. Have a great, wonderful weekend. Sometimes technical analysis is very advanced. Sometimes there is a healthy, good, healthy discussion between the bulls and the bears. For right now on the surface, the cues did reclaim back the 50 day moving average. That's a thumbs up. Is it an alternate green light to be determined? Guys, God bless, have a great weekend and I'll see you all in my next video.