 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, here to give everybody welcome to another edition of the access to the trader.com nightly wrap up show. Hope everybody is doing well. As everybody knows, the stock market gets most aggressive after hours. I'm obviously joking. We'll get to that in a second. If you are branding to the channel, we welcome you award. We thank you very much for your viewership. Thank you to be so kind. Like, share, subscribe and colorboard on this journey to longevity with a non bias approach. So let's talk about it. So yesterday kicked off a two day meeting. I apologize. There was no video yesterday. I had to take care of some last minute errands that had to well be taken care of. So there was no, there was no time, especially my kids schedule. So I apologize for that. But we are here today. So yesterday kicked off a two day session. Obviously, the capped off with the two o'clock Fed announcement on interest rates followed by Chairman Jerome Powell's comments, the Q&A, and the whole Kibben Kaboodle. So we knew kind of going into today's session, there was a chance that the market was going to give us a very, very slow session because again, who's going to really start getting aggressive ahead of ahead of the Fed. And we got that. If you look at the cues, if you look at the cues throughout the day, before Powell came on, they did absolutely nothing, like literally nothing, right? We went literally sideways the whole day. If you see it, the whole day we went sideways. And then finally Powell came on 25 basis point hike that really wasn't a surprise. That's what the street was anticipating. They also, you know, he also started giving a little bit of hints that, hey, there maybe is a light at the end of the tunnel and hinted on certain fronts, at least at the language started playing out that there actually could be a scenario that they start putting an end to heights maybe as early as the next meeting. We don't know by now. But the key was the market did nothing as far as the market is the market. Powell was commenting that he was looking for and his goal was 2% inflation. We'll see what that good luck with that. But again, the market did absolutely nothing. And finally, you know, the market started jolting, going up, going down, going up, going down. You can see it, big spikes up, big spikes down. And then all of a sudden we had a, you know, pretty aggressive sell off into the close. And if you look at the surface, it really wasn't that bad, right? It really wasn't that bad because if you look at the formation on the cues, there's still way above the 50, above the 20 day moving average, but they did lose the five day. Here's where things got spicy, right? And if you sat there like me throughout the day, I was just literally watching paint dry. I did not put on one thing in the like literally one thing in for six, nearly six hours of the day. And then finally, we started looking at some banks. We started talking about some banks the other day with Key Corp with H-Ban. Everybody knows the whole fiasco, what happened with FRC. Everybody knows what happened with Pag W for the last couple of days, but it's the shoe that dropped after the close. And Pag W, they came out and they basically had a PR that said that they are open for sale. Hell, at this point, they're open for a couple of coughing. And the market did not like that. That means, again, that's a sign of being desperate, right? That's not a sign into strength. That's a sign into weakness. Yada, yada, yada. Pag W is down more than 50% after the close. And if you guys remember yesterday's session, yesterday's session was driven because of bank's fears, right? More bank failures. Well, we got that, you know, we got that another shoe to drop after the close again today. Everything is getting slammed. Like literally everything is getting slammed in the banking space. There's a couple of banks we'll show you guys. Finally got something. Finally got something towards the end of the day. Obviously the Pag W announcement, helping a lot of our friends wink, wink, but more important is it does look like it wants to set the tone. If you look at the cues after the close, right? If you look at the cues after the close, you know, they're down, right? They're down. They're not getting slaughtered, you know, because again, it's not about technology when it comes to the banks, but again, they're going to feel sort of the effects. The key is what happens tomorrow, right? Again, you're going to see a lot of fresher, at least initially on the SPYs right before the recording. I was looking at this level and go, well, they held this 407, 80 level three times. If you look after the close, right? We're, you know, we're down a dollar below. So it's going to be very interesting to see if the bulls could continue to buy the dips. I mean, the buy the dip theory has been alive and kicking now, you know, since the January 11th remount, all this 50 day moving average and pretty much all the indexes. And it's going to be very interesting to see how the bulls hold to, you know, try to defend this 405 level. I've already seen this 405 level, guys. That's where we stopped last time. That's where we stopped last time on the 50 day EMA, right? So now this 405 area is going to be super important for tomorrow. So that's the line in the sand for the bulls, right? If the bulls can't defend that 405 level, then we're going to go down to the 50 day EMA around 403. So it's going to be very, very interesting open tomorrow for the bulls. Can they defend the 405 level? For the cues here, you're going to see what's going to happen here in the 16 level. That's kind of where the cues are trading right now after hours. If you look at after hours, they're trading at this 316 level. That is correlating to the 20 day moving average. So for the S&P, for the spies, they're going to have to hold 405 or not. Tomorrow we have a different conversation. The cues, they have to hold this 316 level that's going to spill over into tomorrow's session. Or there's going to be more selling that's going to come by. Right now, it's all about the banks, the jitters. I think the interest rates story is obviously a big deal. At least some sort of trying to get a little bit of closure today for at least the bulls and the bears to kind of lead for tangible headlines instead of the what ifs that we've been kind of tackling since the last year, year and a half or so. So a little bit of closure would be wonderful, but it's very, very important that spies hold that 405. Cues hold the 316 because if not, you're going to start seeing a lot of breakdowns for tomorrow's session. Let me give you guys some ideas for tomorrow before we go into the pivots. Watch Netflix for tomorrow, right? If the cues start breaking down, watch the earnings low here on Netflix. If Netflix starts losing their earnings low, this thing can get hit. So definitely, definitely keep an eye on Netflix. AMD had crappy earnings. It stopped at rising support. Is there a day two for selling for AMD? Well, again, that kind of correlates into the 60 rising 60 minute and daily support on the cues. If the cues start losing, that's 16. AMD is going to get hit as well. Again, as far as I understand, it's still part of the NASDAQ 100. You got names like, let's see here, you got names like, let me just give you a couple more names. NET broke down today. They came out with earnings a couple of days ago. They blew out at earnings. They stopped at the linear aggression line. NET starts losing today's channel tomorrow. Look, there's a lot of room all the way down. So it's in the cloud space. So everything is correlating. If the cues break down, everything, you're going to see stocks starting to set up one by one by one. And the last thing you don't want to do is if both the spies and the cues start losing support, the last thing you're going to want to do is try to catch a falling knife because there's going to be room. So very, very important outing tomorrow for the bulls, for the bears, and sees who has control. If the bulls want to survive, they're going to need to sit there and reclaim, reclaim that 316 level of on the cues and obviously defend 405 for the spy. So let's talk about the day. It was really slow, man. When I'm talking about really slow, I mean really, really slow. Was watching Tesla, it didn't break. Didn't break to the downside. Didn't break to the upside. Here's the one that finally got hit. We started talking about this KEY a couple of days ago. Guys, they were coming in for aggressive put buyers were coming in for the May, the June expiration for the 7, 8, and 9s. It finally cracked right at the close. It finally cracked at the close. Closed below this 957 area. And now the stock is at 890. Congratulations to all you guys who sat there all day with me and say, oh my God, let's wait, let's wait, let's wait. We talked about this thing nonstop. They finally cracked it into the close. And here it is after the close, trading under $9. If this thing could get to 8.5, $8 tomorrow would be absolutely wonderful. Again, make sure, guys, for all you guys who are watching this, take some covers obviously after hours, especially if you're in equity. And then keep a runner for tomorrow for potential in another move. Again, HVAN, another bank on 994. There was a sneakier pivot to the upside, to the downside. Kane gave it to us around 10 or 7. That's where it closed. But H-Band is getting hit as well, trading 960s. NET, I missed this thing at the open. It just wasn't my thing. But 4275 builds below can flush broke earnings lows. It did flush, but it was right at the open. It was very, very thin. So I didn't get a piece of that. But like I said, if this thing went down a dollar, if this thing starts losing tomorrow's channel, today's channel tomorrow, it's going to get hit more as well. And nothing on IDYA, nothing on AUPH, nothing on Airbnb. We're still watching Netflix. NET, I went up about 50, 60 cents before the Fed. Nothing there. It was literally a dead day until, and you can see here, Tesla never got close to the 166th level. Oh, here it is, right here. So H-Band 1007 and 994 macro level, $7 June put buyers came in today. It closed below the 1007. Now the stock is trading 960s. For all you guys who got that as well, great job as well. So again, another day, another looks like another bank failure. Again, is this something that we just have to learn to live with? We'll see. We'll see. But the one thing that you have to remain very, very vigilant, you don't buy dips in these banks. Well, if you're doing it for a day trade, that's cool, whatever. But don't, again, especially when you see the formula, and this has been the formula, if you guys remember a couple of days ago when PACW was at 960s, right, that first pivot below 955, right, they were coming for the 9, 8.5, $7 put. So the stock went to 6.5. Today this thing cracked more and now the stock is trading in the twos, right. So be very, very aware of any banks, especially with optional flow. But those are the best bets to the downside. Again, Key breaking down. Finally, H-Men for all you guys. H-Men, I didn't get. Key was so far so good. But all in all, guys, have a great night, everybody. Stay safe. It really does prove a point that we sat there all day. Nothing confirmed. We didn't try to find trades that weren't there. We just sat there, waited for value. And like I said, when I started tonight's update, everybody knows the biggest value is after the close. Obviously, I'm being sarcastic. Have a great night, everybody. God bless. And let's see what we got for tomorrow. Take care, everybody.