 Make it a break it is this fight they kept on having for two weeks at the 50 day moving average That's the make it a break it here. We're just trying to get baby steps here. We're just trying to 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 evening everybody. Welcome to another edition of the axis of trader calm nightly wrap-up show Hope everybody is doing well. So Now that may is here, right? We wanted to see what the market at least for the first couple days can do after the worst performing month sit on the S&P lost almost nine percent's lowest since 2020 and the absolute worst month for the Nasdaq since 2008 going back to The mortgage crisis and you know the market posted. I guess you could call it right back-to-back Up sessions, right? That's the best way to say it. Is it, you know, are we getting anywhere? Probably not right if you look at most channels most names are very very tight, okay? I think The market is on pause Waiting for the Fed to give us a little bit more kind of guidance of what happens next You know, is there another rate hike ahead of us for tomorrow? Probably right? I think it's all Already been discussed the plans laid out now. The question is, you know, how aggressive do they want to get that? They want to go 25 they want to go 50 Whatever the case may be again as much as I would love to have a whole conversation About transitory inflation. Yes, it's a word. I will use now in a sentence to word transitory You know, it is what it is, right? There's 3 million people have different opinions It is what it is with inflation moving high on gas moving prices To the all-time universe highs and all that stuff and they're squeezing the middle lower class is very very tough to get excited About what the economy is holding but again, it's not our job. We can't control Everything that is around us. The only thing we can control is well our craft, right? Our craft our trading our ability to wait our ability to strike when things are aggressive when things are clear N1 sentiment matches Technical analysis and that's all it is and what we've seen now for the last couple days, you know, look yesterday when I logged off You know that the Dow was down the Nasdaq was was down a hundred and points or so But ended a day, you know a nice little rally, you know a nice little turn around again The bull could turn around and say well, that's it. You know with it. That was the that was the tradeable bottom We're gonna go higher from here the bears gonna turn around say oh dude Listen, we've been you know, we were down for four and a half five and a half hours We rallied in the last half hour. Everybody's gone. They're both right, right? They're absolutely both right and nothing nothing guys remember nothing is going to materialize In any shape or form until number one we get that News out of the way tomorrow, but more important is kind of from the technical point of view The balls did at least a good job today, right? Reclaiming the five-day moving average on a back-to-back victory again Call it what you want today green is green the scoreboard is a scoreboard The market had an opportunity if you guys remember last Thursday to kind of follow through to the upward bias At least for one more day and the next day what happened was the next day was Friday They failed to do so the net the Dow towards end of the week on Friday lost 900 points So tomorrow let's see, you know, can we at least follow through Get back to this 10-day moving average and then slowly but surely we'll take baby steps These are all questions that it's very very tough to answer because this there's not a lot of emphasis here You could you could see it with your own eyes For the exception of for the exception of today's session We haven't had a back-to-back, you know back-to-back sincere right since 418 This is the complete breakdown of this this Bollinger Band lower So it's very very tough to get excited one way or another and most important is you got to look at it from the Trading aspect point of view. There are no breakouts, right? They're absolutely very very few stocks in any aspect of the market the S&P again You could turn around for the oil trade like a name for example Like an oxy right and they for example like oxy looks good, right? And then you get for you know a bunch of oils you can make a case. Hey, they look okay They're not really tradable yet. They're invest in veal's you worst case you buy them two three days You use the previous days low as you stop but that they're not the darlings of Wall Street It's technology right and the whole point of technology is two things are happening either stocks are way below Their supply and that pretty much goes for everything or they're trying to get above supply But they're just not enough room for them to go on this Gargantuan gangbusters run because there's no emphasis people don't believe this and then there's a good reason They don't believe this because well where way below supply when you look at that just on the cues when you look at the Spies as well, right spies, you know is just completely lost the 50-day moving average Traded down put in a nice hammer, which is a little bit bullish trade it up today Okay, cool got rejected off the five-day moving average so they couldn't even close above the five days So I think tomorrow will have a little bit more Kind of a guideline of what's going to happen Maybe for the next day or so tomorrow By no stretch of the imagination is going to be a make it or break it for the market because we're not even close to that You can look at any index in the world make it or break it is this fight They kept on having for two weeks at the 50-day moving average. That's to make it a break it here We're just trying to get baby steps here We're just trying to reclaim today's highs and going back to the 10-day moving average reclaim the 10-day Going to the 20 and on and on and on but that is not here not there and it all kind of depends what happens Tomorrow with the Fed the one thing that I will say, you know not too much to report today Right when every when things are kind of in a holding pattern, okay And everybody's kind of waiting for you know, what's going to happen tomorrow with the Fed as you can possibly imagine There wasn't 85 dollar moves one way or another people are just sitting people are just washing people are just maybe even positioning even Even the options market today. It was pretty quiet and that is again Understandable was there, you know, was there pivots for us to take advantage of only a couple right literally only a couple One of them is obviously the greatest stock in the world And this is again when we talk about how why option flow is so duper super duper important when it comes to Facilitating a possible confirmation It gives you a guideline where the institutional money flow is going But other than that there's really not a lot to talk about for today's session after the close You got a mixed bag Of earnings AMD nice little quarter, you know considering this whole supply chain Supply chain status quo right AMD putting up a nice quarter Airbnb who got you know pretty beat up Throughout the day is rallying back a little bit after the close Not so lucky on the other side lift is getting a pretty good A pretty good haircut here. You can see his really really big move down Match.com apparently my tender account has been suspended because I just don't understand the stock is Is going lower but more important is again, you can see the structural bowels not here not there Nobody's really predicting nobody's really making a point of reference of emphasis. Which way we're going to go next Again for me, I don't need to guess right We don't need to try to figure out what's going to happen You know what's going to happen a month from now a year from now The only thing we care about is what happens tomorrow right and again You could continue to continue to use the word sell buy a sell buy a sell buy us Until we at least start reclaiming the 10 day moving average and have a tradeable At least have a tradeable little bit rally back to the 20 day supply But as of right now status is quo It doesn't make a difference the markets up a little bit today the market is down a little bit today The matter of fact is stocks were Contracting the channels there wasn't any emphasis like I mentioned before the options market wasn't screaming This is going to go this way. This is going to go that way. We're just pretty much in a holding pattern Waiting for tomorrow and again, that's the discipline right you only trade when you get value You only trade when you have clear channels and this morning when you look at You know when you look at the twitter feed this morning, you know, there was literally I literally put what? three or four pivots and I and I basically say I got look You know market rally gested into the close and really messed up downside setups right leaving us with very few tickers To the upside with room right that's the optimum word room any stock can move up But the point is can stocks move up enough that there's range that you can take advantage of a trade That's not the case with most stocks. Uh, and that's kind of the those the mo for the whole day Just things were just not moving. Uh, and that was the the bottom line So and I said, listen, I'll put additional pivots as they develop especially tesla tesla definitely save the data Right. Definitely save the day today and it's obviously one of the stronger names. So let's talk about today again Not a lot of room anywhere Facebook one of the very few that actually had it. I guess a low ball Beat today, you know beat this quarter on earnings. Uh, 12 50 13 needs to build again Not a big move right the initial move is less than a dollar went up like a dollar in change went from that 11 12 50 13 area ultimately to about 15, you know, listen tomorrow if we follow through could it get to 17 18? Yeah, I think it can but again, it's very very tough to get excited This isn't exactly, you know, this isn't exactly the go-to pattern Structure of a stock, you know, normally, you know when a market is good The last thing I want to be is in anything that has gapped down Several times into their into their quarter and now trying to recover But again beggars can't be choosers and this is definitely One of the aims at least has a little bit of visual room That you could take advantage of so, you know, nice, you know, a nice little pop there on Facebook Netflix never got to uh, 205 I really thought we were gonna have a I really thought we were gonna have a pivot today on on on On docu right they got downgraded today by wedbush 81 is the pre market low for experienced trader However, this needs to confirm the daily 80 30 80 and if it builds below can flush potential of 77 It never even confirmed docu. It's the most the wildest thing docu Traded down to 81 17 and all it did was literally from the word go Just it actually went green at some points. It never came close to even Confirming to the downside, which I thought was extremely puzzling, but it is what it is This is the one that definitely saved the day 9 11 tesla 9 11 needs to build This is one that we talk about how important the importance of option flow is We started seeing the 9 75 we started seeing the thousand weeklies come in And tesla took out this whole channel here, right took out this whole channel here And went from 9 11 all the way to the 9 24 daily measured potential and why was it 9 24? That was the 150 day supply zone. So again tesla continues to be even in the tightest ranges Continues to be just a just a godsend. That's the only thing I could say just a godsend When this thing is finally going to go higher it needs to confirm Last what was it last thursday last fridays High so if they could confirm the 50 day moving average, then this thing could wake up But again, we're far away from that the most important thing is again just take it One day at a time. So again, nothing really I think that's about it, right in the video Towards the end of the day exploded. Excuse me. It's spiked up after the close On amd's earnings stock is moving above that level right now, but that's it I mean, that's it and sometimes again, you know as much as Social media feeds you the whole thing about, you know, everything's moving. That's moving. That's moving this moving I don't know what market you're looking at But you know anybody that has been trading for a very long time knows that value is value Not value is quantity value is quality and that's the most important thing that we'd like today is quality But that's this one, right? You sit because you are waiting for measured potential Not because you're dying or itching for a trade that's called gambling That's called an addiction and that's something you might want to see somebody about but that's it guys It all comes down to Fed day tomorrow is a possible we have a gang buster Two three hours before the Fed fingers crossed, right? But there's also a possibility that we're just sitting there playing with our hands Until the Fed comes out with the numbers again These are things that every professional trader is going to be all watching exactly the same way I promise you my you know my view of the market is going to be exactly the same as yours and vice versa So all of us are in the same boat. So guys have a great night everybody. God bless Stay safe. Stay happy. Stay healthy and all this help. We'll see each other tomorrow. Take care