 But tomorrow's session is gonna be super important in probably dictating which way the wind is gonna blow for at least for the remainder of the week, right? Kind of setting up for the week. If not for the year, you know, fourth quarter run. 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 morning everybody. Hope everybody is having a beautiful, wonderful fall weekend. Welcome to another edition of TheAxisTrader.com. Weekend update show up, everybody had a great week. Again, I'm still getting countless emails from this Friday's session. We'll get to that in a second. Market is very close to kind of re-establishing greatness from the technical side. And that's kind of what we always look at before we determine how aggressive or how passive you wanna go as an individual trader, as an individual investor. If you guys remember, and again, this is the most purest form. Before, you know, a lot of you guys are brand new traders. A lot of you guys have fallen in love with the concept of trading, and that's awesome. I really think that's awesome. If you wanna do it, make sure again, you get all your ducks in a row. Again, it's another time for another place, but it all starts out with technical analysis. And we've been saying this for a number of years. Nothing good in the market generally happens below the 50-day moving average if you are a long-bias investor. Nothing good in the overall market ever happens above the 50-day moving average if you are a short-bias investor. And so you can see clearly here when we lost on September the 24th, when we lost the 50-day moving average, the predominant action has been on the sell side. Of course, there's been some really pretty good dead cat balances followed by rejections, followed by reclaims, but nothing will ever be really expanded and really exaggerated until we clear the 50-day moving average. And yada, yada, yada, here we are again. And the last time we were at the 50-day moving average was September the 28th, right? Doesn't feel like a long time ago, because it wasn't, right? It was only about three weeks ago. And that day proved to be another proving ground for the bulls and the bears to try to seize control. As you can see here, the market got rejected, the queues got rejected off the 50-day moving average, and we started to roll over for the next week and a half. Going down pretty aggressively. We went from literally 370 to 350 on the queues in a matter of five, six days. So that was pretty aggressive. What the bulls did right was dead cat balancing initially, dead cat balancing initially to the 20-day moving average. And again, another battleground type of area, the bearer sees control for the next four days, sold the market off. But what the bulls did and what the bulls continue to do for generation to generation to generation, again, going back from the Asian crisis in 98-99, going back to 9-11, going back to the mortgage crisis, going back to the pandemic. Remember a long time ago? Still in it. And the bulls keep on being resilient, and that's the key, and that's the most important part. And what the bulls did was they reclaimed the five-day moving average, bouncing to supply. If you guys remember, I did a video on Thursday night instead of Wednesday, my daughter had a soccer game. They reclaimed the 20-day moving average, and we were really bullish, right? We were definitely very bullish going into Friday's session. Again, that Thursday video was pretty clean, right? Once we reclaimed the 20-day supply that we kept on getting rejected nonstop, it really gave us a high probability that we were gonna get to the 50-day moving average. Again, that'll be the first one to admit it. I didn't think we were gonna get to the 50-day moving average Friday, right? I just didn't think so. But I said there's a high probability we kinda get there. Again, stocks go from supply to supply to supply. And here we are again. We're right back to the 50-day moving average. A lot of names that incredibly well on Friday, but more important, it's not even what happened on Friday and there was some amazing moves. We'll get to that in a second. It's what happens when we're about to, and let's just say for argument's sake, and we're about to reclaim this 50-day moving average. Again, if you scroll down to your charts and go all the way back to May the 20th, it's kind of a reference point that I keep on reiterating to, May the 20th was very, very significant. May the 20th, we reclaimed the 50-day moving average right over here, right? And it started May, June, July, August, right? It started a four-month rally, which was a very, very big deal. As you can see here, how big this rally was from the reclaiming of the 50-day moving average, and once we lost the 50-day moving average for the next month or so, we were below, okay? So this is why the 50 is such a big deal going into tomorrow's session, and I will say this much. If you are permable, we got a reclaimment on the close, right? If you are a permable bear, then you got to defend that 50-day moving average well all you might, like you did on September the 28th, but tomorrow's session is gonna be super important in probably dictating which way the wind is gonna blow for at least for the remainder of the week, right? Kind of setting up for the week. If not for the year, you know, fourth quarter run, and traditionally, if you guys remember, traditionally for you guys have been trading long enough, the fourth, end of the fourth quarter is a traditionally really aggressive speculation month. You have smaller caps moving up, you have the darlings of Wall Street technology, high beta moving up. So this would correlate perfectly with the remount of the 50-day moving average and reclaiming it higher, because if that's the case, then we have the Halloween, right? The Halloween festivities spilling over to the Thanksgiving rally spilling over to the Santa Claus rally, and it's spilling over to the first quarter of 2022, the quote-unquote January effect, where fresh money is being put down by institutions. So yeah, you know, not to kind of look forward, not to put the cart in front of the horse, but yeah, tomorrow is gonna be a pretty big day for the bulls, and I do believe if we can close above the 50-day moving average tomorrow, then all these little things that we've been kind of talking about in the last few minutes, all these different events, all these different holidays could be real, and the market, you know, just like that, we could be, you know, in a month from now, we could be talking it all-time high. So it's gonna be super-duper important. Sometimes, you know, sometimes you have to look at a million charts and look at a million groups and million indexes and ETFs and all that good stuff to kind of try to figure out what happens next. It's right in front of us, okay? Everybody has the exact data in front of us. I don't care if you trade pivots, if you trade small caps, if you trade mid-caps, you know, you know, whatever the case may be, that 50-day moving average is going to either make it or break the week, and it's going to start kind of a snowball effect of what potentially could happen next. Bulls reclaim, we go higher. Bulls get rejected on Monday. We go lower and possibly test the back channels here. So it's one of those cases. It's pretty simplistic in nature. Build over, higher, build under, lower. Not too many days, not too many days throughout the year, you're gonna have such a simplistic view of kind of what happens next, just because not every single day, there's a really big fight, an aggressive moment at the 50-day moving average. So we're kind of set up into Monday's session. The one cool part, which I mentioned a little earlier was, number one, we have a catalyst in front of us. Banks already started coming out with earnings. JP Morgan, fantastic, Bank of America, fantastic, Goldman Sachs, fantastic. So banks did really, really well. They continued to kind of come out with earnings. And now it's technology's turn. Now you have Tuesday Netflix, that starts off the technology for beta names. Netflix has been on a magnificent, magnificent run. Ridiculous amounts of catalyst. You have the Seinfeld debut October the 1st, right? Biggest show sitcom in TV history. You have the Squid Game that's breaking all types of records. And by the way, you got you, right? If you haven't seen it, Tom, you should watch it. If you like these psychological thrillers, fantastic, season three. You got Narcos, Mexico coming and Ozark, finally Ozark, a finally trailer. So Netflix has a lot of good stuff happening. Now let's see if that translates into higher appreciation for the stock. The stock has been absolutely on fire. This is literally the only one out of beta that did not get rattled on any sell-off all the 50-day moving averages and continue to trade high at Tesla. An absolute rock star ever since Tesla reclaimed this linear regression line here at 777 and took out the previous channels high at 807 has been absolutely a monster. They've been kind of walking it up every single day. And you can see these tight channels every single day, five, $6, $4, $5, $4, look how tight and then all of a sudden Friday, all those coal buyers that we've been talking about for a number of weeks, the out-of-the-money, 850s, the 880s, the 890s, even some of the sprinkled in the 900s, they all came into roost. An absolute fantastic, fantastic move on Friday. I mean, look at this channel, right? Once it took out that weekly pivot, we'll get to the individual pivots in a second, just an absolute monster move. Amazon went absolutely nuts. One of the biggest, one of the biggest candles I could remember in a long, long time and it started again. This is how, guys, folks, this is how super important option flow is. We always talk about the igniting of stocks usually happens in the options market and it was so innocent, right? One guy came in so innocently for the 3330s. When the stock was 3315, he came in for the 3330s weeklies and then all of a sudden you started seeing 3340s, 3400s weeklies, next week's 3500s. And again, the strongest moves, guys, remember are never off the top. They're always off the bottom. And once Amazon reclaimed this whole 3330 level, I mean, just an absolute rockstar move again, we'll get into the pivots in a second. So we are set up technically this week. You have the catalyst, obviously in earnings. You have the 50 day moving average, which is going to be determined, cross your fingers, hope it does. And the Securities Exchange Commission approved the Bitcoin ETF, right? So as much as, and there's a great love for Bitcoin, some people don't like it. I have really no opinion on it. I think it's pretty cool. I think any time that investors could potentially make 20, 30, 100 times their money is a wonderful thing. But now they're coming out with the Bitcoin ETF. The Bitcoin traded, I guess, above 60,000. And now everybody has a chance to trade it without a Coinbase account, without all that stuff. So that'll be pretty cool, right? That will definitely be pretty cool. So there's a lot of speculations, a lot of snowball bullishness effects that could turn this market really into rabid mode. But again, it all starts for tomorrow's session. And I am going at least into tomorrow. I really want to give the bulls the benefit of the doubt. I am 100% buy-bys for tomorrow. So I'll be really, really disappointed if this kind of market gets rejected off the 50-day moving average. But again, I'm not a child as well. I understand there is a potential and I am always ready if we do get rejected. So let's talk about Friday, right? You know, just an absolute, absolute, I mean, it's really tough to kind of put, you had to really see what was going on with Tesla and especially Amazon and Tesla. It's one of the craziest things I've seen. Again, I know a lot of you guys did incredibly well, just ridiculous, just absolutely ridiculous. Anyway, so let's talk about it. Google, I still like, remember the previous day, it took out the 2817. I still like this thing, it kind of rested. You know, it still had a pretty decent day, but it did rest here. I still believe if they could just get above this 2840, I do believe you could still see 2870. So this stock still looks really, really good. Nvidia triggered on Wednesday, again, this is still an active sequence here. Nvidia 213.50, that was from Wednesday. Fantastic move so far, 299.40. It still continues the big number here. I still like it, I still think it goes higher, especially if we reclaim the 50-day moving average. I still believe it could get to the supply zone here. Again, ahead of earnings, still looks really, really good. Here is one of the two rock stars of the day. And if you notice, it's pretty much all high beta stuff. So Tesla started an active swing a couple of days ago, right? Four or five days ago, it was on Monday, I believe, that 805, 877 level was big. And Friday, like I said, 821, it was gonna be the magic number, that's the do or die. So Jeffries came out, they raised their price target on Tesla for 950. Now why was 821 such a big deal? If you look at the weekly chart on Tesla, and this is kind of, this is where you really have to understand technical analysis. This is the last channel, everybody see this, right? The February 15th, 2021 highs, right? That was 821, that was literally the last hurdle before the stock really has potential to erupt. There is literally no supply above 821 all the way to 900, which was all-time highs last January. Now again, is it gonna get to 900 before earnings on Wednesday, who the hell knows? But it looks really, really good. I do believe because the market is so good right now, or at least hopefully continues to be good, if Tesla gives you any types of dips, especially before earnings, definitely, definitely watch those rising 60-minute supports. But if not, the stock was trading after hours, nearly 850, it was up another six, seven bucks after the close. So it took out the 821 and just won absolutely bananas, just bananas, just absolutely bananas. Again, huge, huge move here. Dash, 8214 needs to build first supply to 1650. Here was Dash, not something that I trade, or at least not trade a lot, not trade often, just because it's a little too thin, but it traded exactly how I thought. Yeah, here's a 214, I traded a little high of the 217.50s into supply. You got a nice little move there as well. Snapchat, talk about crazy. We saw pretty big buying coming in, Snapchat for the last couple of days. We saw the weekly 79 and 80s. And I talked about this one, 77.41 rejected twice at the top of the range, needs to build, size buyers came in yesterday for the 77.5 and in November, 80 calls. Here was Snapchat, it talked about a move. It put up, this is not even exaggerations. Here's a 77.41, right? Hit it once, hit it twice. So right, it took that out and it's, look how fast that move was. This thing put up a $1.50 candle. If it was 45 seconds, I think that would be too long. It was probably under 45 seconds, how big this move was with a lot of volume. That's the crazy part, with a lot of volume, with a lot of liquidity. So great, great move, very, very big move there. Amborella, 169.5, 170 needs to build. Again, a lot of technology just went really nuts here. So it took out the 69.5, 70, traded the 74.5 before it reversed. Letter U never got up there. Here's Tesla, 829 supplies. And then came Amazon, right? And again, like I said earlier, the biggest moves are always coming off the bottom channels, never the top. Most traders are never looking at the meat of the move. This is what we call the sneaky pivots, right? Every here we talk about the sneaky pivots. And Amazon, the bottom of the range was that 33, 27, excuse me, 33, 28, actually had to correct myself. And this is one of the biggest moves that I could probably remember in a long time that had nothing to do with earnings. So here was Amazon. I noticed some of you guys are still holding runners. They came for the 3,500s. So once it took out that 33, 27, 33, 28 level, the first supply was 33, 47. It got there pretty quickly within a few minutes. And then what transpired after was just absolutely nuts. This was a $50 candle in a matter of 10 minutes, right? Five minutes, right? Five, 10 minutes. And the stock closed all the way into daily supply perfectly at 3410. This thing confirms 3410 ahead of earnings, right? Maybe even tomorrow, if it opens up lower into rising 60 to mid-support, you have to buy this thing into a dip. Next stop is this 34, 34, 44 level. And then obviously earnings takes place, but just ridiculous. A ridiculous move, Tesla, next stop, 3840. It's traded 850 after hours. You can see here, 3347 for supply, 3382 for all possible runners. This one, absolutely nuts. Dash and Barela. I mean, you can see technology went, technology went really, really big here. Square, I still like. I think, why the hell did I delete square? I mean, it was a 47, I don't know. It never got there. I still love the 52. I love that 52 area on square. I think it looks amazing. It really, really does. It's one of the names I really like for this week. Couple of weeks ago, couple of weeks ago, they were coming for, I believe they were coming for the end of the month, 260s. Please double check. I don't remember. Please double check. Apple, I still like. I really, really like Apple. So let's talk about some names that I definitely like for this week. Assuming we, assuming we are confirmed, right? I like Apple a lot, right? Apple, it kind of looks like Amazon. Do I think Apple's gonna put up an Amazon move? Probably not. But look at this whole supply here, right? If this thing just starts building about this whole channel here, you could get a move into the 50-day moving average. That looks really good. Square, as I mentioned a few minutes ago, look at the square chart, man. If this square could just take out this whole channel that started, it is basically a quadruple top. If this square could just get above this quadruple top, I think you get a really, really quick move to the 50-day moving average. Even a name like eBay looks good, right? A lot of Nasdaq 100 names. eBay had a really, really big move. Now you're going sideways. Pretty good distribution here. If eBay could just get above this channel here, can really start ramping up as well. And Microsoft. Microsoft looks like it wants all-time highs, right? Look at this long distribution. As we say all the time, the longer the distribution, the bigger potential, and that's kind of where up. So we are set up for a Monday, guys. Again, if you're a permable or just love buying stocks, tomorrow is gonna be a very, very big day. Cross your fingers, cross your toes, or anything else in between. Because again, if we do reclaim the 50-day moving average, I believe starts a next leg up in the market. Guys, have a great day. Have a blessed day. Smile, enjoy your life. And God's well, I'll see you all tomorrow. Take care.