 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 AccessaTrader.com weekend update show. Hope everybody is having a wonderful 8, almost 80 degrees here in New Jersey. Unbelievable. Global warming, whatever it is. Hey, we love it, right? We love it for now. We know the doom and gloom of winter is coming. Don't forget to change your clocks back. So, hey, get the Prozac ready because now it's going to start getting dark at 4.30. Come along guys, just a quick reminder. If you are getting value from this channel, I'm assuming you are because you're still watching. All we ask is drop a like, subscribe to the channel so we can grow the channel so we can help you out with more content on a weekly basis. And the most important part is we can all grow organically. So if you can be so kind, drop a like, subscribe to the channel, and we continue on, right? So let's talk about the tape. So when you look at yesterday's session, right? You had the jobs number come on. Actually Friday's session right now is Saturday. Well, it would be yesterday. So you had the jobs number came out. Strong numbers came out once again, just like the last time. Again, sometimes good equals bad. Sometimes bad equals bad. Sometimes even good equals good. Mark, I didn't know exactly what to think of it yesterday. Again, we'll get to individual pivots. But there's something that we always talk about when there's an old data just as beauty is in the eye of the beholder, right? Everybody kind of knows that phrase, one man's trash is another man's treasure. And the question was, was the market up or down on Friday, right? If you look at the scoreboard, you know, if you're not an active trader, you turn around and go, what do you mean? What kind of stupid question is that? The Dow's up 400 points, the S&P's up 50 points, and the NASDAQ composites up 132 points. What are you trading, Dan? The Bangladesh exchange? Now, before you come to commit me to an asylum for asking that question, let's look at what exactly happened on Friday. Number one, as we know, technology has been really the ugly redheaded stepchild of the four major indexes. Before we had any type of resumption of selling starting on Monday, we had a really strong market for everything. For every single index, for the exception of the Qs last week, right? You had this magical run on the diamonds, really, really big run on the SPX, and poor old little NASDAQ composite just couldn't get going, right? Not only could it not get going, all their leaders, right? Your Microsofts, your Apple's, not even necessarily Apple, we'll get the Apple in a second. Microsoft, Meta, Google, and Amazon all blew up on earnings. You guys remember that? And no matter how much they tried to prop up the market eventually, right? Even with Apple's help the previous Friday, the market couldn't just let go of the selling bias, and they never reclaimed a 50-day moving average. And after they started making sales on Apple, and they said, wait a minute, the earnings maybe were not that great. Everything started going down with it as well. So even when we had that really good monster week last week, when the Dow went up 6.5%, if you guys remember, the NASDAQ somehow went up two. But it was a little bit different this week. And when you look at the final tallies, you turn around and go, okay, you know, the Dow is only down 1.5%. That's not bad at all, considering we were up over 6%. The S&P, you know, it gave, you know, we were still up almost 5% last week, gave back 3.3%. Here is the multiple, right? The NASDAQ composite not only did not run when everything else ran, it lost, gained about 2% last week and lost just under 6% this week. And that really, really stood out. And when you look at Friday's action, and again the jobs number came in strong, and initially they rallied the market to sell it off, to rally the market to really, really sell it off. And towards the end of the day they started rallying up again. You turn around and you go, how is this market even up, right? Cloud names got absolutely destroyed. We'll get to the individual pivots in a second, right? You have the cloud names just destroyed, right? BILL, Massacre, NET, right? Massacre, DDOG, right? Massacre, Snow, Massacre. There's a lot of these names, right? TTD as well, right? Massacre as well, right? You have all these stuff. Apple could not stop selling. Really could not stop selling. We got all the way down to the daily Bollinger Man bottom channel here. Microsoft until later in the day could not rally. Finally you got some dead cab balances on a name like Amazon. So I get how the NASDAQ was up, right? You got a little bit of dead cab balance on Amazon, which is still put in a red candle. It basically shows there's still a lower close than open, right? It gapped up and then went lower, right? Google finally had a little dead cab balance as well. Microsoft, they got absolutely destroyed this week, which was an absolutely amazing mover this week on Microsoft to the downside. Finally had a dead cab balance. And when you look up and you say to yourself, how the hell can somebody turn around if you trade technology and say the market, right? The market was actually up for the day. And again, we say this all the time, guys. Don't structure your day. Don't structure your thinking based on the scoreboard, right? The bright lights. When you're a passive investor or passive trader and you look at Friday's session, it goes, man, oh man, everything must be ripping, says the social media trader, right? It says the social media trader. But the reality is we all know. If the active trader, we all know what happened on Friday. There was phenomenal selling all across the board on software names, cloud names, right? And the most interesting name that sold off and Friday turned out to be a really, really good session was Tesla, right? You guys remember on Wednesday's session when the market was selling off towards the end of the day and I said towards the end of the video, I go, oh, by the way, don't think we forgot about you? We didn't. And that's the whole point. If you look at the candles, right? If you look at these candles, these two candles right here, we actually even made three candles right here. Usually you see these type of candles right at the open, right? Usually when the first hour off that first pivot area, you see that at the open. Usually you don't see this type of, and this is what it looked like, liquidation, right? If you traded Tesla, and this is a phenomenal move for us on Friday, if you traded Tesla, you knew this looked like it was liquidation mode. It went from literally for about two hours. It went from 222 all the way down to 203 on no news, right? Again, it's very, very odd, really, really odd that you see this type of move with absolutely no news. There was a couple of noticeable bets that stood out. There was, I don't want to mess this up. Let me just read you guys off my notes. There was a bet that came in for Tesla for the December 180s, right? For the December 180s. So that wasn't that crazy. It was still $40 out of the money. But there was one bet that came in for the February 165 puts for $3.8 million in premium. I mean, is it possible somebody knows something? It's all very possible. I don't like to speculate. I don't like to try to guess what's happening. The whole saga with Elon and Twitter and this, that, the third. But price action speaks the loudest. The options market was betting definitely in that direction into strength before the pull. And hey, I wouldn't be surprised if something does come out after the weekend at some point next week to kind of see. I mean, this looked like some sort of forced liquidation. The market was ripping higher. And this thing was just absolutely getting as they say in the Disney, in the Disney library, double fisted. So very, very aggressive action there. Like again, like I said, the cloud names got completely annihilated. And now the question is what happens next, right? So let's look at the indexes and we'll kind of try to make things, you know, try to make things a little bit more clear. So this week alone, we failed when I say weed. And as that composite or the cues, they failed to reclaim the 50 day moving average as everything else. The other three groups, they did, right? The other three major benchmarks, they did. They lost this whole range here. If you've been watching the video since Monday, we talked about how important this 272 level was and it lost it and then followed through. You still have the leaders, right? You still have the leaders absolutely getting destroyed throughout the week. And oh, by the way, the one silver lining, the one, you know, the one knight in shining armor that actually tried to save the market, Apple, well, they kind of turned around and say, ah, maybe it wasn't that great, right? We're talking about a move from Apple from Tuesday, from 155 to 134. And it gives a really, really definitive line in the sand here kind of going forward. If you look at Friday's low, you know, the low here was 134, 138. If you look at the low from October the 12th was 134, 137, right? Tell me technical analysis is just a random thing. So if they start continue going in after the leaders for the next week, again, it's very, very tough to paint a rosy picture, at least in the technology space. Again, the Dow guy has his own thing going. The S&P has his own things. You know, the banks are actually looking pretty good. I mean, look at the run on Bank of America, right? I mean, this is a pretty, you know, pretty aggressive, you know, look at the run on Bank of America, Goldman Sachs. But if you look at technology, again, just for me, right, for me alone, that is where the sweet spot is. That is my specific lane. That's my niche. And I don't go, I don't go, I don't go out of my lane. You know what I mean? I don't go out of my lane. I don't look to the trade other names that I don't feel comfortable that I don't have some sort of relationship with some history with and I don't know their tendencies. That's why I always say, you know, first of all, I trade 95, 90, 95% of all my trades are the same 10 stocks. So I always say when you trade random stocks, and unfortunately that's what happens when you were first, you know, in this business for the first two, three, four years, you're going to get random results. And that's why I kind of try to stick to my lane. So let's talk about it, right? So the QQQs now for the Qs to be good, or for a potential snapback in technology, we would have to get above this 271, 272 level on the Qs, right? This level right here, this level right here, this level right here, this 259 level becomes an additional area that you know, you have to be conscious on. If you are especially a permable, and you got caught up with all the selling last week, you got to watch that 59 because if they start confirming 59, then we go all the way back down to the October 13 lows, which is 254. And if we close below 254 again, I don't have to tell you what happens later. Because again, the only way a market rallies, significantly rallies is to get above the 50 day and stays above the 50 day. And kind of like, let's go back into the S&P now, right? S&P got above the 50 day, stood three days above 50 day. But a couple of days ago, they just weren't having it. You know, they just couldn't sustain it. And they lost, right? They lost the 50 day moving average. And now this is day three below the 50 days. So for the bulls in the SPY to get aggressive again, right? And start a rally back into the holiday season, they need to reclaim 381, right? 381 to go back to the top of the range here. Now here's the other side of the equation. The low for the week is roughly 368.79, right? If the SPY start losing this 368.79 level, then we go all the way down to 363. If they lose 363, you have another 10 point drop in the spools. The IWM I really don't want to cover. The diamonds so far are holding up really, really well. All the consumer cyclicals, the banks, the brokers, insurance companies, they're hanging on really, really well. And this is the only one of all the groups that actually held the 10 day. They didn't even come close to the 50 day moving average. So again, you kind of see a continuation of disconnect, continues in the market. And this is why I always say for a long, long time, guys, there's no such thing as a stock market anymore, right? It's no such thing as a stock market. Now we just have a market full of stock. It's like going to the grocery store, right? When you go to the supermarket, you don't buy everything, right? Like when somebody says on social media, yo man, just buy everything, right? When you go to the grocery store, you don't buy everything. You buy what you need, right? You buy your bread, you buy your cheese, your water, your salts, or whatever it is, your vegetables, and then you move along. So now we are experiencing a very individualized, specific market of stocks. And I think going forward until they start correlating again that everything starts moving, I think you have to assume that this week is going to continue. And again, I think more of arbitrage traders this week are probably still looking at a scenario of long diamond short accused. I mean, that's what's been working definitely for the last two and a half weeks. Does that continue, right? Does that continue this week? Maybe, right? Maybe. Again, I try to give a very unbiased view every single day. I'm not a bull. I'm not a bear. I'm a realist. And I go where technical analysis tells me to go. So we'll see. We'll see. As of right now, it's very, very tough to get excited about technology. But again, you never know. That's how crazy this market is. Things drop at a dime. They turn on the dime. And next thing you know, your bias switches very, very quickly. So that's why you have to be incredibly open-minded. So let's talk about it. So the Dow was up 400 points, right? The Dow was up 400 points. The S&P was up 50. And the Nasdaq was up 132 points. And if you notice here, pre-market and morning strategy, and again, for all you guys who are joining us this week, either in the live webinar or in the squat box, welcome aboard, please use this weekend an opportunity to go through the PS60 workshops. There's a lot of information there. There's a lot of moving parts, considering we're the only ones who trade it. It's a very, very unique and proprietary way of looking at the market. And it's definitely not the normal. So if you are coming aboard this week, welcome aboard. So if you notice, everything we had was to the short side, like literally, like everything we had. Matter of fact, I wrote right before the market opened up, I go, I'll put in upside pivots as they developed. That was a 400, right? Nasdaq was up 130. I'm still waiting for those upside pivots. And that's the whole point. You don't trade the market. You trade individual setup. So let's talk about it. You're going to see all these cloud names for the exception of Chewy and Apple, all these cloud names, right? TTD 4788, if it builds below, can flush, right? Here's TTD, right? It takes out the 4788, it goes all the way down to 44. Does that sound like a market that is up on the day? Maybe somewhere else, but not in technology. Chewy held twice, the 50 day, right? 50 day is a very, very important level. If it builds below, can flush, right? Chewy 35, right? This has nothing to do with beta. This has nothing to do with cloud name software, right? It took out the 35, traded all the way up down to 3189. Again, doesn't feel like a strong market. Apple, in case it gives up its gains, 138.75, if it builds below, can flush. Apple got destroyed, okay? Again, doesn't sound like a great market to me. So Apple takes out the 38.75, goes down to 134, puts in a double bottom off the October 13 lows. Again, this is a massive line in the sand in case this market gets weaker this week. But again, just absolutely destruction in Apple. DDOG, another cloud's name, 74.30, 74. It gave up its gains from earnings from the previous day, and then it took out the previous day's channel of 74.38, went all the way down to 68. That's a huge move, man, considering how strong the market was. Snow, again, you kind of get the theme, 145.50, 145, if it builds below, can flush. Here was snow, right? Here was snow. Took out this 145.50, went all the way down to 129. Again, these stocks were acting like there was a mutual fund liquidation, like the Nasdaq was down 1,000. This is the one that just got hammered, and it was definitely, I couldn't trade this one. It was way too thin. One 1225 bill, if it builds below, can flush. Another cloud name, look at this thing. It took out the 1225, went down to 98. Torture, absolute torture in the stock. Like I said, I'll put in upside pivots as they develop. Again, it's Saturday, it's 10 to 5 in the afternoon. I'm still waiting for those upside pivots. NET, 45.60 below, if it can flush. Just destruction in these stocks. Here's NET, took out the 45.60, went all the way down to 39.39. Really, really big move there as well. Then, Disney only went down like 20, 30 cents. Zi, I made a cup of coffee on Zi before they killed it later. It went down to like 28. But this was right here. Remember Wednesday's video? I said, hey, don't think we forgot about you. We didn't forget about it. If you guys were watching Tesla on Thursday, they kept on defending 214 on 10 consecutive 60-minute candles. Let me show you. Let me show you. Let me show you how. You see this whole area here? Check this out. Look how many candles they defended 214. 214, one, two, three, four, five, six, seven. That's seven hours, eight hours, right? Nine hours, 10 hours. You had 10 hours of data of them defending 214. So basically, if it builds below 214, it can flush. And boy, oh boy, dare we say, yeah, it flushed. Absolute destruction went all the way down to 203. We got to watch this thing, guys. We got to absolutely watch this thing for next week. There's a very, very good chance, especially if they start coming in with very aggressive put buying deep out of the money. There's a shot here that if it starts really confirming Friday's channel, it can go all the way down to this 198 area. And if that breaks, the dam breaks, the levee breaks, the next thing you know, there's a little bit of moisture on your hand. So that's it, everybody. You know, again, beauties in the eyes of the beholder. Was the market up on Friday? Was the market down? It all depends who you ask. Guys, God bless. Have a safe weekend. And God's help. I will see you all Monday. Take care.