 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 theaccesandtrader.com nightly wrap-up show. It is Wednesday. Yes, they started the broadcast. It was Monday. All days are messed up. But either way, hope everybody is doing well. Again, if you are brand new to the channel, like, subscribe, click alike. All that crap that goes along shows support for the channel. Again, we continue to give you daily updates of unbiased information. Let's talk about a lot of stuff going on. Today, we had Fed Minutes. As you can imagine, Fed Minutes pretty much came up like a dud. As far as I understand, the economy has not changed in the last 32 minutes since the previous. Fed Minutes came out from the CPI number and the PPI number and every other indicator in between. The world is kind of the same, right? As we always say, these guys just seem to get paid by the word and not by the value or the validity of what they're saying. Same thing. Fed affirms basically the fight continues against inflation. Nothing new and it was a pretty much muted event. Nice spike into the event. It was a little bit of a sell-off and a little bit of a spike and a little bit of a sell-off. Ultimately, finished down 84 points. S&P notched its fourth straight day of losses and the Nasdaq eaked out a little bit of victory considering how the market played out from yesterday's session. Two and a half percent move on the downside for the Nasdaq and another 700 point loss for the Dow. The bulls can't really feel that great about today's session. If you look at how the day played out, you saw a number of things continue to be conserving. Number one, we put in our fourth straight day. Actually, fifth straight day, one, two, three, four. Fifth straight day of lower highs, lower lows. The bulls failed to rally on anticipation of potential news. They failed to take out the previous day's high. Again, that's not really a good thing. The leaders continue to drift. You have Microsoft now continues to drift. You got a name like Netflix. Again, this is all the high beta names. They continue to drift. The name, for example, like Meta, they had great earnings, right? Great earnings. The earnings feel like a long, long time ago and they continues to drip. You look like Apple, for example. Again, continues to drip. Bounce off the 150-day moving average, but nothing really great. Tesla today, we talked about it last night on the video. Beautiful, beautiful move today. Wash out into the rising 20-day support. That was fine, but again, it's not really here or there. It still needs a couple of days to get out of this channel. But the most important part is how the market continues to digest information. You got a slew of earnings that came out on the video. Finally reported it was supposed to come out a few minutes after four. They decided to come out about an hour later. But, hey, video, great, great move on earnings. The earnings were great. I don't think they were great. They beat them. They beat by eight cents. The key word to this earnings report was AI, right? AI is the hot thing right now. And AI is the reason why NVIDIA is surging. And not only is it surging for tomorrow. We're going to have to be watching all this channel up here to see if it could take out recent highs. Etsy, another retailer, online retailer, blow it up, right? Had a really, really good quarter. Not so much for Lucid. Lucid data about 8% after the close. They fell short of production estimates. I think they only produced 7,000 cars or so. Nice-looking car, man. I will say this. Nice-looking car. They did have a showroom. I live in New Jersey by the short-hills mold. They used to have a Lucid display. And despite that, I've only seen literally one Lucid on the road in the last couple of years. And again, apparently their production numbers are validating what I just said. But more important is we want to see what happens tomorrow with this NVIDIA earnings. Usually you would turn around and be like, everything would just be exploding after hours. I mean, look, you got Tesla up about a buck, right? The Q's are up. The Q's are up. What, about a buck or so? About a buck, even less than a buck. Considering that NVIDIA is a NASDAQ 100 heavyweight, and not only does it represent itself, it represents, you could arguably talk about the most important group in the NASDAQ 100, which is the semiconductor. So let's see how the overall market reacts. I'd like to see how NVIDIA handles the first dip. And because, again, just because the stock comes out with good earnings doesn't mean that first dip is going to get bought. Just ask the good folks today if I do, right? This thing gapped up today about 10, 12 points, and then just absolutely got destroyed. So it's going to be very, very important to see how NVIDIA handles that first pullback. Can it get above the recent highs? And can they start building above recent highs? Alibaba, I believe, reports tomorrow as well. I used to trade the stock all the time. As you can see with these God-awful, these little God-awful channels, this stock, at least for me, completely untradable. I haven't traded Alibaba probably in about two years. I used to trade it all the time. And once it started putting all these little gaps with the average who range shrinking after the gap ups, I've completely lost interest in this thing. But, again, it's going to represent another cog in the retail slash wholesale online arena. So we'll see how the market handles that. From the point of reference from the ETF side, you've got the spiders, right? Holding on to the 50-day moving average. That's where they bounce, right? This 397 is going to be super-duper important going forward. Because, again, anything, remember, guys, and especially if you are brand new, when the market is above the 50-day generalizing, it's going to bring in bullish action. When the market is below the 50-day moving average, it's going to pull some things in. You could clearly tell by the point of reference. Here we are. Here's when the spies lost the 50-day moving average, went on a form on the bender, right to write the hell in back, when the market finally reclaimed the 50-day moving average, started moving higher. And here we are, right? Here we are. We defended the 50-day moving average today on the spies. That's the 50-day. For the bulls to start to get traction, they're going to need a build above 401. And for the bears, any close, and again, set these alerts, guys, any close below 397. And this whole narrative in the market might change very, very quickly because that's the importance of the 50-day moving average. And if the spy in the near future does indeed get below that 397 on the close, there's going to be a very, very different conversation we're going to have on the next video. You got QQQs, again, which I pretty much follow on a daily basis. Again, nice move down. Again, we had five days in a row, like I said a few minutes ago, lower highs, lower lows. Two below the 20-day moving average, which again, it's not that big of a deal. We're going to start calling it a big deal like I talked about in last night's video when we get to the 50-day moving average, but it doesn't mean that we can't continue to take advantage to the downside. So here's the big levels that I'm watching for the next couple of days. For the bulls to get back into the saddle, kind of resume the massive, massive rally we've had since January the 6th, the QQs are going to need to reclaim, roughly, $2.99 on a close. Everybody see that? That would be reclaiming the 20-day moving average. If the bears want to continue this swan dive or this mini-sha swan dive, they're going to need to confirm down this $2.92.50. So if they start confirming this $2.92.50, then we start looking at 287s, 288 levels, and then ultimately, we will get a step closer to the 50-day moving average, and then the question will be if the spies get below the 50-day, well, are the Qs going to pull up back the spies above it or are the spies going to pull down the Qs? Usually, in my general experience, whatever index gets below the 50-first and can't rally, they're going to pull everything else down. So again, that 397 level is going to be super important in the near future for the SPYs, and obviously, we're still about 10 points away from the QQQs. Going into tomorrow's session, I'm kind of Delta-neutral. I like some things. I don't love some things. I definitely like some names. I definitely like some names to the short side. I like some names to the downside. Let me give you guys a couple of names. Let me give you guys a couple of names that I'm watching for tomorrow, and then I have to go take my daughter to basketball practice. So yeah, let's talk about some names here. Let's look at Home Depot. Home Depot had a crappy quarter, as you could see, gapped down a couple of days ago, put it in an inside day, didn't take out the highs, didn't take out the lows on half the volume. It might not trigger tomorrow, but keep an eye on the earnings low. This thing starts, maybe in the perfect scenario, maybe it goes sideways for another day or so, but if Home Depot starts losing the earnings lows, I think the next leg is going to be lower, obviously. OTTR, I'm not really familiar with the name. And again, this is kind of when you know, usually I'm talking about NVIDIA, Tesla. Well, I'm still talking about NVIDIA, but you kind of get the point. When I'm talking about beta, it's a premium session. We get a really clean kind of move to a perspective where I think the market's going to go. When I'm talking about Home Depot, when I'm talking about OTTR, again, these are nice looking, valid charts. I'm both sides of the market, but the market is not screaming premium, right? Not yet, right? Not yet. Again, the bulls need to reclaim 299 in the Qs for us to open up the floodgates. Well, maybe that's a bad example. Point of choice of words. Maybe open up some of parting the Red Sea. Maybe start the bulls, start the next leg up. But look at this. OTTR looks great, right? You have a two-day, three-day consolidation after earnings. It starts taking out the earnings highs. It can move higher. Airbnb, right? It had a great quarter. It had a really nice quarter. Since then, straight down four days in a row, they defended the 10-day moving average. I definitely want to watch if they start taking out the 60-minute channel, right? If they start getting above the 60-minute channel, maybe the stock finally wakes up. Same thing would kind of like Roku as well. Kind of same play, right? Roku had a really nice quarter. It had a really good two-day run. They came in just like Airbnb that tested the 10-day moving average. Roku held on to the five-day moving average. So look at the 60-minute view on Roku, right? It's getting pretty tight here. If this thing could start reclaiming back the channel from two days ago, maybe this thing finally wakes up, especially if NVIDIA can spark a general rally, especially in all technology. It's something definitely to keep an eye on. And one thing I kind of like for all you guys who trade these smaller cap names, it's part of that AI group, keep an eye on this SOUN. Maybe it doesn't go in the next day or two, but keep an eye on this thing for your radar. If this thing, this is a nice long distribution, one, two, three, four, five, six, seven, eight. You talk about almost two weeks' worth of distribution. If they could get above this channel here, maybe this thing can start waking up as well. So that's it, guys. Everything else, I'm obviously watching. I always watch Tesla. I always watch everything else. Again, tomorrow I want to definitely see how NVIDIA handles its first dip, right? Obviously, right now it's surging after hours. And if it handles that first dip and traps, we might get a pretty good value bet on the rising 60-minute support. If not, I will watch this thing opening range for potential strength play. All right, guys, everybody have a great remainder of your day. Tomorrow is Thursday. Just remember, tomorrow is no video. Tomorrow is my regular evening off for all you guys who are joining us in the live webinar. All the stuff I talk about here, we talk about the whole day. It's a lot of non-stop. Six hours of me talking, blah, blah, blah, blah, blah, blah, blah, blah. And eventually we do get into some stock talk as well. Guys, have a great night, everybody. God bless. And I will see you all soon. Take care.