 Yeah, there is a side of the market that does get choppy. There is a side of the market that equity prices that do come in. So you better understand that both dynamics, you better learn how to trade from both sides of the market. 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 AxisTrader.com Nightly Update. Hope everybody's having a great weekend. So very interesting week last week in the markets. And if you look at the Skoll board, you really don't get a really good appreciation of what happened. Pretty much everything flat, right? You had the S&P down a little bit, the Dow Jones down a little bit. And the composites squeaked out a little bit of a gain. But when you look at the dynamics of where we were only a month ago, three weeks ago, to where we are now, if you're a bull, you're feeling a lot better, especially bull on the technology front. So only two, three days ago, if you've been watching this broadcast, we've been navigating pretty well. The queue has put in a double bottom, right? Double bottom a couple of days ago. And we had this really two-day, big, big, strong rally. And if you watched the Thursday night video, I usually don't have a video on Thursday night. It's usually my res day, but I took Wednesday instead. We talked about a couple of scenarios playing out for Friday's session. Number one, I believe that the fact that we had these two really aggressive days on the queues going from 316 all the way back to the 329 level, there was always a chance. There was always a probability or a possibility that a lot of members in the technology space were going to have a res day. And that's what happened, okay? And that was very, very good. The second thing we talked about on Thursday night video was, even though the indexes have a chance to kind of rest for Friday's session, I believed based on the idea that we finally reclaimed the 50-day moving average on the queues for Thursday's session, I felt even if there was a res day on the indexes, you're going to find a lot of names getting pulled up, just because we've said this on Thursday, just because you get a closed macro on the indexes doesn't mean everything's going to go at the same time. I made that point pretty clear. I felt like names like Amazon were still underneath supply and you look at Netflix still underneath supply and I said nobody's really running out and looking for Apple for Friday's session because again, everything is still at supply. But I also believe that names over supply we're going to make some sort of move. And names like in the video, and I'll tell you one thing, out of all the names that we discussed for the last six months or so or a year or even longer, the names like Amazon and Google, Amazon, Google, Shopify, booking.com, ISRG, those names, right? They're so lofty and so spreading and at times so illiquid. Those are the names we were looking for for potential split. So when you woke up and congratulations for you guys who had in the video overnight, when you woke up on Friday morning and you turned around and you said, wow, what the hell's going on in the video? And the video is the one who announced a four for one split. And the most ironic part, it didn't need one, right? Maybe according to the board it did, but if you do train the video, I train the video, this is probably one of my top three favorite stocks to trade outside of maybe Tesla. It had the speed, it had the power, it had the liquidity. So I was a little annoyed that this was the next one to announce a split, but again, it is what it is. I believe, and I have to double check, but I believe it's either June or July that's going to be taking place at some point to trade around 150 bucks. So again, is it better for retail? Absolutely, is it better for liquidity? I mean, I personally think liquidity here was pretty good as well, but again, big, big move there. So you had a bunch of names that cleared out supply. You had names that we watched. And again, we'll go over the pivot to the second names like RBLX that I felt like I was talking literally every video for the last two weeks. So hey, maybe today's gonna go, maybe today's gonna go. And finally went on Friday and I was a little fortunate enough to catch this thing. But what I liked about Friday's session was the market did what I thought, right? Res day for the indexes. You had a bunch of names that woke up just because the indexes confirmed the previous day, especially the NASDAQ 100, and gave you really good opportunities and a bunch of names like a Boeing or a letter U or RBLX names like that, while the rest of the market kind of rested. Here was the curveball, right? Here's the curveball. Everything was looking good around 230 or so. If you remember guys, the Dow was up, the NASDAQ was down 15, 20 handles. And I said, look, as long as we don't sell off into the close, because remember, it took a long time for the NASDAQ to reclaim the 50-day moving average. So I said, look, as long as the market doesn't sell off and bears reclaim the 50-day, I think that's fine. I think we're just having a good, healthy rest and the market should resume on Monday and lo and behold, what happens at the close, you get a pretty disgusting candle into the close and we give up basically the 50-day moving average in the process, which basically throws a really big monkey rush into Monday's session. Now look, is it possible? Again, if everybody believes in dollars to donuts, lower highs, higher lows, all that stuff, the one good thing about losing the 50-day moving average, the day after you reclaimed it, the only good thing about it is we put in a higher high and a higher low. That's the only thing that I wanna give the bulls to benefit of the doubt going into a Monday session. But again, it doesn't really make you feel really, really great that the bulls are completely in control and the one thing, all they needed to do from Friday's session was, again, I didn't care that there were down on the day, the one thing I cared about is that stocks didn't have aggressive moves off their highs and give up a lot of gains and that's exactly what they did. And if you look at the names, like at Amazon, that again, we talked about on Thursday night, needed a big move before we talked about macro, there was no reason for the stock to go down 44 points. If you look at Alibaba, pretty aggressive pull off the 10-day, if you look at Apple, and again, this is another name we discussed, wasn't yet ready for prime time, but at least it didn't need to kind of reclaim demand on the bear side. So again, I'm not 100% loving what I'm seeing on the technology names and you really have to stretch your head and say, well, why can't these stocks get a good footing? Why can't they just sustain a rally? And just because it doesn't look good on paper now, doesn't mean that they could reclaim it right back on Monday. And that's kind of how erratic the NASDAQ 100, especially the technology space has been. It's been just when you think you're about to crash, they rally back and just when you think you've got a good foot holding on what's happening back to the upside, they sell the market right back. So look, I definitely want to give the bulls the benefit of the doubt for Monday's session. But again, you know, the proof is in the pudding. The tape doesn't lie. So if I don't see, you know, if I don't see technology kind of reclaiming back to 50 days supply within the first, you know, two candles of the day. And again, for all you guys are watching this broadcast for the first time, I only use six 60 minute channels throughout the day. So, you know, two candles of the day is enough, enough size, enough data for me to realize who's going to have control. So I definitely want to give the bulls the benefit of the doubt. But if everything starts losing steam, we go right back. And the one thing, the only reason I am giving the bulls the benefit of the doubt, I do kind of like the way the semiconductor, the SMHs kind of held in there. Again, remember, that's the leader in the NASDAQ 100. They're the ones that let us up. They're the ones that let us down. And now they're the ones leading us up again. And the one thing that's a little bit different from the SMHs and the Q is that semis never reclaim the 50 day yet. This is a big, big number coming for a Monday session. I think the semiconductors need to close this week over 242. I think if they could reclaim 242 on the SMHs on the close, then you could see how much airspace you have all the way to this 254, 261 level. So I think if the NASDAQ 100 is going to have any type of strength, semiconductors are definitely going to have to lead the way this week. You're going to need to see some of the formal leaders or the tech heavyweights really wake the hell up. The Facebooks, the apples of the worlds, especially Amazon. I mean, it's really sad to say, this is where we kind of go back into stocks that should be splitting, they are not. Amazon is literally tradable four times a year. It really does feel that way. Four times a year, it puts like a 300 point move in two weeks and then you don't hear from the stock for another quarter. So that's that. So that's where I kind of believe the tech space is going to need to get its leadership from the semiconductors. When you look at other groups, like for example, the biotech space, again, here's another perfect example, almost like the mirror image of the NASDAQ 100. And think about who is the biggest component, it's the biggest weight in the NASDAQ 100. It's biotechs and semiconductors. Bios had a chance to really stamp their stronghold on the 50 day and they closed below. Semiconductors did not reclaim the 50 day yet. So yes, the bulls have a very, very important job. It would be nice to kind of see who's in control kind of by mid-morning on Monday so we can have a clear opinion and a clear channel to see which side of the market we wanna trade next, whether it's long or short side. If you look at the SPYs, right, SPYs are building. They did a great job. They never broke the 50 day moving average, right? There was a double bottom here. You could clearly see it. And now you have a couple of days more of building. If the SPYs can just reclaim this 418 level, then yeah, I think we go back to all-time highs. So the bulls have some work to do. Again, when you go through a lot of charts this weekend, you're gonna see a lot of crappy looking charts. And this, the funny thing is these stocks could have been really good on Friday if there was a continuation there. We got the gap on a lot of names. Everything was up pre-market and there was a nasty pull that pulled a lot of things back. So going into Monday's session, I will give the bulls the benefit of the doubt. If I look at my watch list or my preparation list for Monday's session, it's all upside, right? It's all upside. Again, I was sell bias for three weeks. I became bull bias on Thursday from, excuse me, from Wednesday into Thursday and Thursday into Friday. So, and now, again, just as you guys can see it, especially for all you guys who've only been trading for a couple of years. Yeah, we've had a tremendous bull market. We've had an unbelievable bull market. And now you've seen the last two, three months that there's a lot of worry. There's a lot of things that are unclear. You can't get a lot of, you can't get a lot of continuation. Long, short, people are chopping themselves up. Yeah, that's exactly what most people sign up for every single time they open up their first brokerage account, just unfortunately you don't realize it's gonna happen to you until you live with it. And you've been trading for 20 weeks or 20 months. Yeah, there is a side of the market that does get choppy. There is a side of the market that equity prices that do come in. So you better understand that both dynamics, you better learn how to trade from both sides of the market. And if you are a long-term investor, have a long-term plan. Don't let the day-to-day fluctuations of the market hurt you. And especially for all you guys who are in the crypto Bitcoin space. Obviously, I'm not a guy in that space. I'm probably the least qualified to speak in that space. I don't know if these things are, right? But if everybody's been watching the crypto space in the last several years, you've seen the rock star of Bitcoin has been. You've seen the rock star that Ethereum and all these other alternative coins have been. And now you're kind of seeing the other side of it. Does it mean that's the top and these things gonna crash forever? No, of course not. But again, just remember, asset classes, whether they're stocks, bonds, future, whatever it is, Bitcoin, they're gonna go up, they're gonna go down, right? It's been like that for generations before you. It's gonna be like that for generations after you. You just have to kind of keep it in the stride, keep a level ahead. Know exactly what you want your long-term outlook in these things and just always understand, like I've been saying this for years, always keep this in mind. You wanna make sales when you want to not when you have to. So let's talk about Friday's action. Pretty good session. Not a lot, right? Not a lot, but a pretty good session. Nevertheless, Tesla is still on the supply. And again, Tesla was great this week, not to the point that a lot of people are gonna turn around and even recognize, but actually gave us, if you've been watching the broadcast, it's been giving us like really good channels in the middle of the week. You could catch some water flow in the middle of these channels. Macro wise, nobody in their right mind would turn around and say, well, you know what, Tesla's great. It does, right? It absolutely doesn't. It had a chance to reclaim the 10-day moving average and it got rejected at the same area. So Tesla's just having a hard time just staying above the 200-day moving average. So it's not one of those names that you really want to focus, especially on the long side, until they start reclaiming. So finally, right? RBLX, we've been talking about this thing and as I joked around, it feels like 500 times, maybe this is the day. And you know what, finally today was the day. You saw a really, really big, or Friday was the day. You saw really, really big moves, big option buying coming in for the June 90s, the June 95s, the June 100s, the June 105s, I even believe. This was definitely great. And I was very happy with the trade. RBLX, and finally, right? We've been talking about this name for weeks and weeks and weeks. And finally got above the 78 level and took out all-time highs at 83, went to almost 85. So really nice move. I know some of you guys are holding a runner. Obviously the play and the sting kind of going forward is any dip into rising support is obviously good. We're at the green for experienced traders or remount above Friday's highs. So really nice job there. Congratulations for you guys who are still holding. Lamb research never got there. Snap, not a big move, but again, it started popping with everything else and then it kind of turned around with everything else. So Snap, I was watching that 57, 50, 57, 50, 58 level, 57, 50, 57, 75 level. And again, not a big move, went to 54 and a half, assuming 58 and a half before everything got pulled. And obviously this thing is not gonna be any different. Letter U, nice move there. So here's another name with a lot of big option flow. Letter U, 93 Needs to Build. We saw also the August and I think September, and I'm assuming the July and August, they came for the hundreds, they came for the 105s, they came for the 115s. So it took out this whole little baby channel here at 93, went almost to 95. I still like it. The market has any type of juice next week. You could see 98, 99 on Letter U. So keep an eye on that. Google never got there. Zoom never gave you a second entry. It opened up above that 28 level, put in a high of 29 and change, and then just completely died with everything else. Maxim, I still like. Again, if the semiconductors are going to have any juice this week, I mean, this is such a long chart. I mean, this is such a long setup. Look at the weekly view on this thing, right? This is a daily view, but look at the weekly view on Maxim, right? This is a channel going all the way back to January, right? I mean, this is a long, long channel. If you could start clearing out the top of the supply, I still like this thing. I think this thing goes. Boeing, nice move on Boeing. 232.50 needs to build. Here was Boeing, right? Here was Boeing. It took out the 232.50 was the highest candle into supply, and it traded all the way up to 36 and change. I still like Boeing. Boeing confirms there's a lot of room up into the 40s on Boeing. As I can see here, finally, right? Finally, finally spiked up. Boeing take on the way up. Here comes 83, 41 all-time highs. The 90 call buyers come in, snap, take on the way up, grinding too high to highs. And this was kind of a big deal. This is kind of what we knew. There was a potential for a reject in the market today. Beware, this is one of the more, this is one last supply zone here in the 3050s area when entering the position to make sure it doesn't get rejected. The high of the day was 3080s, and then obviously had a big decline and everything else. So this is why we always say it's incredibly important to understand where your supply zones are and not the trade with a blindness. So 94 on deck, I just went to 95. And that's it, right? And that's it. So going into Monday, I definitely want to give the bulls the benefit of the doubt. I do, again, have a very short memory. I do remember we were sell buyers for three weeks on technology. Something eventually we'll give in. You'll see it, very, very clean. It's probably the next first two hours of the day. And again, we'll take a step back, we'll reassess, and obviously we'll have a better cleaner opinion for the following day. Guys, have a great night, have a great weekend. And with God's help, I'll see you all Monday. Take care.