 So, that is the big, big question going into next week. You can't be naive or an arrogant enough to turn around and say, well, I know what's going to happen next. Nobody knows. Okay? I'm trading 22 years. 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, everybody. Welcome to another edition of the AccessToTrader.com. Weekend update show, everybody is doing well. Before we even get started, I want to give a special shout out, a special acknowledgement to all the wonderful, wonderful, hardworking, dedicated dads who are there for their kids no matter what is going on in their lives, good, bad, or indifferent. And that's a great definition of being a role model, a father, a leader, and everything that's important in your child's life. So I want to wish all the dads a very wonderful, happy, healthy, and relaxing Father's Day weekend. You guys deserve it, and hopefully you guys will have a phenomenal, phenomenal day. So let's talk about the tape. If you look at the scoreboard this week, you would notice one thing. That is the Dow Jones Industrial Average was down about 3.5%, really, really big move down. You'll notice the S&P got hit as well, and now it's tackling these levels here right at the bottom of the range. The one thing that if you've been trading, especially the technology set there for the last three weeks or so, and again, we've talked about the importance of the cues reclaiming the 50-day moving average and starting to go on a big, big run. So if you've been trading the technology set there for the last three weeks, you don't even know or even realize what's going on in the other indexes. And if you guys remember, this is going to about, let's see here, I would say January, February, March, right? If you guys remember in March, we were pretty much sell buys every single day because the technology names, there were dead money. You guys remember just going back to video after video after video, there was dead money. Money flow was going into everything else, but technology, Amazon was dead and the video was dead, Apple was dead, Facebook was dead, everything was dead, right? And if you go back to like April, you notice that the Dow stocks, the Dow Jones industrial average was up every single day, like literally every single day, while the NASDAQ just couldn't get out of its own way till finally, right, till really, really finally we got going back somewhere around May the 20th. That's where the first close over the 50 day moving average. And nobody really noticed, if you just watched CNBC and you're a retail investor, you didn't even notice because they kept on saying how hot the market was. And for all of us who traded mega cab beta stocks, the technology names, we knew how horrible they were and how much dead money they were for literally about a month, month and a half. And something happened in the last couple of weeks that completely switched, right? Completely switched the formula. You know, for the last three weeks, technology has been out of its mind, completely out of its mind. Amazon, if you've been watching this broadcast, had this monster breakout from the 3,300 level. I know some of you guys are still actually holding runners. Congratulations. This is a 200 point move in about a week and a half phenomenal move. Apple, although not as great point wise, did phenomenal, right? The great from this 28 and a half breakout went all the way up to 32 and a half still consolidating wonderfully above the range remount. Did great. NVIDIA ever since it announced its split. And again, this, again, just started off the 50 day moving average, only has gone from 585 to 775, just wonderful moves, very, very strong. And again, a lot of them as well. You have Roku, big moves off the bottom, coming from the 270s all the way to 370s. So I'm at a 100 point move in a month, zoom shook off all its, you know, all its negativity or earning stigma started putting in great moves. Amat as well. All these semiconductors had really, really great moves. And when you look at the scoreboard at the end of the week, you'll notice that that was down 3.5%. The S&P was down and it felt like to me, and I know a lot of you guys feel the same way, it felt like to me, like the Nasdaq composite was up 30% of the week. That's how it felt. That's how the action was. And if you look at, if you look at, especially the last two days of the week, right, Thursday, there wasn't, you know, there wasn't a video because Thursday, I take my regular night off. But Wednesday's videos say, look, we were still very, very bullish on technology. And Thursday's session, there wasn't a down take. There was literally not a down take the whole day on technology. They just all went nuts. So Friday, we had a flat open, flat the down open, the Dow was down again. Again, the Dow was literally down, felt like two, 300 points every single day. And Friday went down 500, nobody even though it's till about, I realized this around one o'clock, 1.30 in the afternoon, I go, wait a minute, how's the Dow down 500 points? How's the Nasdaq down 100? I don't get it. Everything is still absolutely exploding. And that's how good the market is. But now we're at kind of technical, you know, when you take a step back and you start looking at the overall picture, again, you can't have the blinders on and say, OK, the Nasdaq has been out of its mind. It's been completely strong. Amazon's been going nuts. All these stocks have been going nuts. You can't just turn around and say, I'm just ignore kind of the data where we had on the close. And if you look at the data on the close, you'll notice that the S&P 500 closed right on rising support. Now, before any alarms go off and you start thinking, oh, my God, is this finally the demise of this bull run in the S&P? Just keep this in mind the last three times, one, two, three, right? Times that we tested this level the next day, the market rallied right off rising support. So if you believe in the whole bull case, you've got to turn around and say, well, you know, the S&P needs to hold 41.56, right? This is going to be a big level going into next week on a close, especially from Monday's session. If you get a gap down on Monday and the bulls reclaim 41.56, then you can have the reality of, well, the bull thesis is still very much alive. And if you can see here, the same happened the last couple of times. It hit this number, went through the number they reclaimed, they rallied. They hit this number, they went through this number, they reclaimed their rally. So yeah, I think Monday's going to be a big test for the bulls, for the bank, you know, for anything including the S&P 500, you know, the banks, you know, it's been very, very important. I think that's very, very important. If you look at the diamonds as well, you know, the diamonds, you know, they had a big sell-off, right? Really, really big sell-off in the last couple of weeks. And again, if you trade a technology, you never even realize it. Again, unless you looked at the scoreboard and said, wow, the Dow was down 500 points, you would never even know the market was down to about one to two o'clock in the afternoon. And a lot of things started selling off their highs. But again, there is going to be a definitive area for the diamonds around that, you know, 330, 331 level that the bulls need to defend. It's going to be very, very important. So you can't just turn around and say, ah, who cares about the Dow? Who cares about the S&P? If I'm trading, if I'm trading Roku, if I'm trading Xeam, if I'm trading Facebook, ah, we don't care about that. Eventually, again, you have to start asking the question. And this is the question that we had going back all the way to all the way to the beginning and towards the end of May. And that question was, is the Dow and the S&P going to pull up the Nasdaq 100, right? Or is the Nasdaq 100 finally going to pull back the S&P and the Dow? Well, we got our answer then. The Dow obviously stood very, very strong. The S&P stood strong and the Nasdaq 100 got pulled up, reclaimed the 50-day moving average and now is moving up. So you kind of have to kind of reverse that question, OK? The Nasdaq 100 has been incredibly strong. Now the question is, what happens next? You know, we know how important that level is on the S&P that we just talked about a couple of minutes ago on the rising support held it three times. So now the question is, is the S&P going to pull down the Nasdaq 100, right? And or is the Nasdaq 100 finally going to, because of a strength, pull up the S&P 500? So that is the big, big question going into next week. You can't be naive or an arrogant enough to turn around and say, well, I know what's going to happen next. Nobody knows, OK? I'm training 22 years, although. I have a pretty good grasp of what's going on. There's always curve balls. And the most important part is to be prepared for those curve balls. Don't be arrogant enough to think, well, my stock has been strong Monday, Tuesday, Wednesday, Thursday, all of a sudden Friday comes in. It takes away the first four days gains because, again, technical is a screaming at you. The question is, are you going to listen? So that's a very, very big, valid point kind of going into this week. I would like to think that the bull market thesis is very strong. This week is going to be a little bit lighter volume. The reason why I say that Fourth of July weekend is coming up. And because of the really horrific weather, if you guys remember Memorial Day, I was supposed to go on vacation. I was supposed to be in the Hamptons of Memorial Day, the whole four day weekend. And I couldn't go because it was pouring nonstop for three days. So I think a lot of people are brain dead. And it's going to be really nice weather, at least forecast going next week. So I think a lot of people will be taking off at some point going into next week, at least starting Tuesday, Wednesday, going into the Fourth of July weekend. So you could have a lot of standstill in the market. You could have a lot of stale days. But I think the more important part is what are the bulls that are still engaged on a day to day activity? Are they going to defend these levels? And again, if you go into next week, you have to know how important this is, you know, 40, what is it? 41, 41, 56 levels in the S&P. Because again, any close below, you know, 41, 56, and you got you got 100 points to the downside. Again, the only reason the bulls been doing a great job and being spared at those levels, they kept on defending and reclaiming those levels into the close. So this is a big number. But again, the action has been unbelievable. If you've traded technology, just tell it in the last two out of the last two trading days, you know how really, really good the moves have been, how incredibly exaggerated the moves have been. The video went nuts. Amazon continued to go nuts. Roku went nuts. Zoom went nuts. Just phenomenal. Just absolutely phenomenal. And it's really nice feeling to know that, you know, all of the last several months when they've been dead action or pretty much sell bias, it really is good to know that we were so in control because that, you know, we weren't looking at the market from a rose colored glasses point of view. We stuck to our guns. We didn't deviate from our process. Although I found myself trading a lot more smaller names over the last like two, three weeks, I never deviated from technology. I never deviated from the core value of these pivots. And, you know, it proved to be really, really great when these things finally remounted a couple of weeks ago and started doing that thing. So let's talk about Friday's pivots. Thursday was just what literally everything went up on one candle. And Friday, we opened lower, right? We opened up lower and all the major indexes. And I tweeted out, I tweeted about 10 minutes of the openness, like, like how long, you know, how long is, you know, how long is it going to be until. Technology wakes up and starts going all time highs. And I made a joke. They go out to me about 90 minutes. It happened in 10. Everything went ballistic off the open. Congratulations to all you guys who caught some of these pivots. Zoom was great. Tesla was really, really good. I'll show you guys another sneaky pivot below before 26. Roku went nuts. Zoom went nuts. Square went. NVIDIA just out of its mind, completely out of its mind. So phenomenal Friday, great way to end the week. And now we have to see what happens next, right? You have to be a little bit open mind, a little bit cautious going into, going into Monday's session. Because again, you can't automatically assume technology is going to, you know, is going to just be there and it's going to be OK. And every dip is going to be bought. Eventually, you know, buyers get tired. There's a buyer strike. Buyers, buyers become very, very complacent and take into and take into the regard that every dip will be, you know, bought and their positions will be OK. And sometimes it happens, but sometimes it doesn't. So we have to be prepared for it. But other than that, check out some of these moves. Just monster moves. Roku 354 needs to build. Here was Roku right, literally right off the open. You know, check out this 350, look at this whole 54 channel just went absolutely bananas. That first candle was $10. And then went up another, they went up another seven. It's a huge move on Roku. NVIDIA just continues to be NVIDIA. 757 needs to build. I really love the stock. I really do. It's just, it's right up there now with Tesla. Here's the whole channel here at 757. 757 went all the way up to 775, just went absolutely bananas. Zoom, I caught pretty nicely. Zoom 375 needs to build. Here was Zoom 375. You can see perfectly into supply. Here was 375, went perfectly into supply of 380. Really nice move there. Tesla we'll talk about in a second. There was a sneakier pivot on Tesla before the 626. 238 Square needs to build. Nice initial push. Again, the futures kind of died out towards the end, but it took out the 8, took out the 238, went to about 240. I still like, I still like Square going into next week. If you look at the daily, it actually built upon this remount of supply. It was coming in for the 245 and 250 calls. I still like it. The market continues to be strong. This is definitely one to watch for next week. So Square was really good. AYX, I still like for next week. Guys, look at this chart on AYX. I really like the consolidation. I really like, you can see this pen in here forming off. If you guys remember, we had a nice pivot here off of 83. Went into 86. Look at this flag here, a five day flag building. This thing starts remount in this 86 area. I still think the stock goes to 91, another one to watch for next week. You guys are going to think I'm sniffing glue. I'm really not. And again, look, there's no description of what's going on with AMC, right? As I joked around so affectionately, lovingly said, movie theaters are obviously the future. We all know this is BS, right? We all know this, right? But the stock is not going down. It's not going down. And I hate to say this, but you see this channel here. And again, there's no guarantee it's going to get, I'm not a bull. I'm not, what do they call them? The gorillas, the monkeys, the schmucks, what do they call them? The guys are not selling, right? The dog pat, what do they call them? Something insane. The gorillas, something like that, right? Anyway, you see this level here at 65, right? Hit 65 once, got rejected. Got 65 twice, got rejected. Look, I'm not a bull or bear. I have no dog in this fight. I don't trade this AMC, but I'm telling you, this damn thing is not going down, right? And if this thing starts reclaiming 65 bucks, this thing's in a rub. It really will. Look at this thing, got rejected perfectly at 65. It reclaims 65. There's a shot, this thing goes to 72. And if you looked at the option flow in this thing, they're not betting 10, 15, $20,000. These things, they're betting hundreds of thousands of dollars. We saw some seven-figure bets as well in this thing. So if this thing starts remounting 65 and starts building at 65 level, this thing has a shot at 72 and much higher prices. So if you are one of these gorillas or dogs or whatever they, you know, Wall Street pets, or whatever the hell they call them and you're into this thing, watch that 65 level if it starts building. Hell, you could get more upside. It's really, really amazing to strengthen this thing. Just doesn't go away. It's like Jason and Freddie from like Friday the 13th. This damn thing just doesn't want to go away. ISRG, I still like, I still like this letter. You, on the video, take on the way up. Zoom, take on the way up. Roku, take on the way up. 64 on deck, 74 on deck. You kind of get the point. These things just absolutely erupted. As you can see here, 770 on deck. You know, I said there's a shot at 778 with the 775. Roku, just a monster. CPRX, I still like, it touched 6590. I still like this thing for you guys who are trading these smaller channels. This is the last trade of the day. We caught this really nicely. There's a sneaky pivot here on Tesla 622 for serious traders. If it starts to build above 626, can spike buyers came in and look how beautiful this trade was. And sometimes again, Tesla's one of the very few stocks you can trade without a daily chart. Again, this thing is not even close to reclaiming macro. But look at this channel here. And this is where we talked about the 622 level. It took out this whole area here, right? Took out this whole area here. So we got along with that 622. It took out the 622, took out the 628 and it was a rocket ship right to 628 and change. So a beautiful trade on Tesla. I love the stock, Nvidia Tesla. We'll see on the video acts once it splits, but Tesla was just a monster. Great job to kind of end the week. So that was great as well. Bingo, right? Bingo. Beautiful move, big spike on Tesla. And I believe that is it, right? Fantastic move to end the week. So that's it guys. Again, I am cautious going into next week. I am still bullish. I still like some names, but again, if I see stocks gassing out and opening levels, let's start getting a little bit more passive in the aggression on the upside and maybe start looking at channels to the downside. Guys, have a great, wonderful weekend. Happy Father's Day. God bless you all. And with God's help, we'll see you all Monday. Take care.