 And again, guys, remember, every trader is looking at the market exactly the same way. There is no special lens, a special binoculars that's one trader seeing everybody else. If the technology sector is weak, then everybody sees the technology sector is weak. If the technology is strong, there's no reason to fight it going momentum. 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 morning, everybody. Welcome to another edition of the Access a Trader.com Weekend Update Show. Hope everybody is doing well. So let's talk about the markets this week. So if you look at the scoreboard this week, there's really nothing that you can really decipher. In other words, if you're not an active trader, if you're just a passive investor and you just looked at the final tallies for the week, plus or minus a little bit, really didn't do anything yet. The Q's, the NASDAQ 100, down a little bit, the IWM this week really didn't show anybody one way or another which way the market's going to fall. Because, again, it had a pretty good run off the bottom, reclaimed a lot of supply zones, just kind of hovering about the last reclaim. If you look at the SPY, kind of the same thing, right? It just had this big, big run and now we're kind of going sideways. But again, like everything else, like an onion, there's layers, right? There's just not an onion. There's layers to that onion that will tell you a bigger story. And the biggest catalyst this week was earnings, right? You had the big heavyweight tech earnings this week. Last week's actually started with Netflix that, you know, underwhelmed. Okay, I think that's the best way of saying it, but this week you had Apple, right? You had Apple and you had Amazon, right? And you had Amazon and you had Google and you had Microsoft, all the names. And if you look at pretty much all of them, right? Especially a lot of names in the NASDAQ 100, like, you know, like a Starbucks as well. There's a lot of names, right? There's definitely a lot of names. The one thing, and you'll see the common denominator in everything was that a lot of these companies really did well in the earnings, right? So for example, Amazon had a ridiculous quarter of 44%. I believe I read in revenue boost. Again, who doesn't love Amazon? Who didn't believe that their numbers were going to be good? The only question was, how's the stock going to react? And just like in Amazon, just like in Microsoft, just like in Apple and a lot of these names in the tech space, they had an initial really good move and then they sold it off. And, you know, again, you can make a case here. You could turn around and say, here's the bull case. You could turn around and say, well, these stocks had really, really big runs ahead of earnings. This is just profit taking. These are fantastic companies. They have still a fantastic growth rate and they will be OK two, three years down the line. But I don't think there's anybody who would take the other side of that argument. I agree with that 100%. You could definitely make a case of, you know, stocks had a big run up, right? And they did a fantastic job, especially when the Qs reclaimed 50-day moving average. And this, yeah, this is just maybe just a byproduct of literally, you know, literally stocks just needing a breath. And that's fine as well, right? And that's fine as well. The bear case scenario is, well, we had this big run. The earnings came out. Yeah, you can make a case. This was a sell the news type of scenario. But if the economy is recovering and the market and the Fed is still printing money and there's all these other factors holding up and there's a buffer. Well, why do you need profit taking? Right? And maybe this is just a sign that the market needs a more of a bigger than rest, right? And you can make that case as well. And you start, again, peeling over, you know, those layers of the onion. You start looking at the other names that held a big, significant portion of the key run up. And that was the semiconductors. You guys remember the semiconductors? They led the market for a long, long time. And why the semiconductors is so significant was, well, is because they are predominantly representing the components of the Nasdaq 100, the QQQs, you know, the Intel's of the world, the Amats of the world, the Vidious, so forth and so on. And if you look at the semiconductor chart, right? The SMA chart, well, this is the fourth close now, right? This is literally the fourth close on the 50-day moving average. You know, it held once, twice, three times, four times. And you turn around and say, well, how many times can you keep on pushing through the levy before the damn breaks, right? And that's a very significant point because if you combine taking profits in non-semiconductor names and you combine that with semiconductors potentially taking down this bottom channel here and now we pretty much reported all the big names and the earnings and you're turning around and say, well, what's left? Where is the catalyst? At least for the short term. And again, I'm always speaking devil's advocate. I don't believe in. You look at, you know, you look at a chart, you look at the economy, you look at fundamentals and you make a broad statement. The market is very fluid. It switches, you know, it switches on a dime. You can go from bullish to bearish to bearish to bullish in a drop of a hat, instantaneously. And the most important part is you have to be prepared. So it would be kind of naive for me to turn around and say, well, the numbers are still great. Everything's going to be great this week. What? Right? The market spoke to you. They already told you we sold off on good news and we told you the biggest, the biggest leaders on the past run with the semiconductors are very, very close to breaking down these levels. And if you are an active trader, and again, we're just, again, we're just playing devil's advocate. We're not saying the market's going to tank. We're not saying the market's going to go higher. We just want to be prepared on both sides. So if we're taking all this information, we're trying to process this data, it'll be very naive for us to come Monday morning and say, OK, what are we buying? Right? What are we buying? Amazon got sold. Apple got sold. A Starbucks got sold. Netflix got sold. Right? All these names got sold. What are we buying on Monday? Right? Doesn't make sense. So we really need to be 100% committed to reality, right? And trade the market that we have, not the market we want. And the one thing that I will tell you is it was very, very odd. And this is, you know, we started seeing that selling after strength for two, three days. But when Amazon couldn't push through the all-time high, and you can see the all-time high here, right? If you see the Amazon all-time high chart of that 35, 53, 35, 354 level, once you saw that double top being put in, because Friday's highs are 54 and you saw the volume dry up at all-time highs, you kind of knew that this was at least a pregnant pause for the technology bull case. And we did have a pretty aggressive sell-off. And you see the reversal here on Amazon pretty aggressively into the close. And it took down a lot of stocks with it. Now, is it possible that this was just like a scenario that we have two, three days kind of taking a breather and then we start resuming, you know, that's kind of in the middle of the week? Absolutely, 100%. I would love to at least, I would love to, for at least the cues, if that's going to be the case, I would love to see the cues at least touch this bottom level here of 334. Right now, we close at 338. I would love to see what happens on a macro case of the cues somewhere around the 334. Obviously, any close below 334, then again, if you believe in respect technical analysis, you can see how much room you have down. Again, nobody saying we're going to go back down to the 50-day moving average. Again, we just want to be prepared. So it's very, very important we're conscious of levels. 334 is kind of the line in the sand in the cues. If you look at the semiconductors, the line in the sand in the semiconductors is this 241 level. So any close under 241 on the semiconductors is going to have an impact on the cues. Again, if you look at predominant ways on the cues, you have the intel of the world, a lot of the semiconductors are represented there. And the fact that we really have no catalyst going into this week for just kind of the macro case, I could definitely see kind of a back test. Now, is there going to be names that could wake up that already got hit? Absolutely. Look what happened, for example, on a name like Tesla. Tesla got sold off on earnings. And again, I don't even think the earnings were bad on Tesla. But they sold the stock. And that's fine. You had to sell off on the stock. And the stock came in from the highs in the last couple of weeks from 780 all the way to 666. And we had a big reversal on Friday off the lows. I mean, look, you can make a case. Is it a one-day reversal, just kind of a dead-cat bounce? And it's going to be kind of sold off with everything else going into this week, possible, right, possible? Or is this kind of like, OK, you know what? We're back on track. Tesla's a monster. If it reclaims the 10-day moving average, then you have a lot of room to the upside into the 726. And obviously, anything, any close over 726, starts a new cycle of potentially going back to 800 levels. So that's on the table, right? So that's definitely on the table. And again, we don't need to guess. We need to just kind of see how Tesla's going to wake up on Monday morning, have a theme going on. So if they do get rejected back in the 10-day moving average, you know it's possible to go lower. But if they start reclaiming Friday's levels, then obviously we have a next leg up. And even a name like Netflix, who was the whole fire started, right, of the whole technology earnings two Mondays ago. And they gap down. And now they're just they kind of woke back up on Fridays. Everything's getting sold off. But it's very, very hard to get excited to turn around and say, well, if Netflix is now demonstrating a strength. Well, Netflix was demonstrating weakness as the market was going up. So how can you possibly get excited about Netflix demonstrating weakness strength on a dead cat bounce situation if there's a potential for semiconductor and the cues to spill over back to the downside? So there's a level here that we're going to be watching on Monday. And if this level gets reclaimed, then yeah, maybe have a multiple day move back to the upside into the 320s level on Netflix. It's kind of a counterplay kind of like Tesla, the same thing. Or if Netflix gets rejected at the 10-day moving average, then we have a very, very specific area and then say, well, well, this was the dead cat bounce. It hit the 10-day moving average. It got rejected. Now there's a very specific level there. And if it doesn't take that out, we can go short using the days high as are out. So there's a lot of scenarios on the table here. And if you go through your charts over the weekend, you'll see there's not a lot of really great longs that stand out, right? There's some names. Facebook, for example, is it possible that you could have a day to run or kind of what I call a second day play? Absolutely, right? It's always on the table, especially early if there's strength in the market. Because again, Facebook did have a great quarter, right? They piggybacked off the whole customer acquisition click at the click space and the same thing where Google took advantage of. So it had a monster move on Thursday and it rested on Friday. So is it possible that Facebook kind of wakes up, opens lower, shakes some trees, reclaims level and starts making move back to the upside? 100%, that's on the table as well. So we have to have an open mind going into Monday's session. I think if you go through your charts, you will notice there's a lot of ugly looking charts out there, especially in the tech space. That's why when I started this broadcast, I kept on saying, what are you dying to buy on Monday? Right? If you go through your charts and you put in your work this weekend and if you're really doing your work, you'll see exactly the same thing that I'm looking at. And again, guys, remember, every trader is looking at the market exactly the same way. There is no special lens, or special binoculars that's one trader is seeing everybody else. If the technology sector is weak, then everybody sees the technology sector is weak. If the technology is strong, there's no reason to fight it, go with momentum. This week, you don't have major players reporting earnings. You do have PayPal on Wednesday. Let me just go through it really quickly. You got Pfizer on Tuesday. We'll see exactly how the vaccines will help. You have PayPal, Uber on Wednesday, and Thursday looks like kind of the bigger picture in technology. You got Roku, you got Square, and the fake me, right? You have Beyond coming out as well. So the major earnings are out of the way. And now we just have to see because of there's a lack of kind of catalyst, the least short-term catalyst, how the market reacts to kind of a non-biting situation, just kind of trading on their own merits. We'll see what happens there. So let me give you some ideas that I kind of do like for this week. First of all, Peloton, I caught a short on this couple of days ago. Peloton does not look good, right guys? It just absolutely doesn't look good. I have a Peloton in my house. I got it five years ago. Full disclosure, I think I've been on it six times in five years. Love the product. The seat, if you're a guy, is just a tad small. Again, having a prostate exam every single time I go into Peloton is not exactly the greatest thing in the world. Again, maybe some for others, but not my cup of tea. But if you look at the Peloton chart, you could tell it broke down below this 99 level, two days in a row below the five-day moving average. And this whole channel here is on deck. So if there is a significant or any type of pull in the market, you have to look at weakness. You have to look at stocks that potentially never rallied with the last move or underneath supply for multiple days. And if they start really confirming and the cues get hit, well, this is one of the names you definitely want to look at. And Intel as well, again, this is the leader of the semiconductors. They came with earnings and they were already weak into earnings. It wasn't like Intel was this monster moved into earnings, but again, you could definitely make a case that, hey, it did have a big run up. So they made sales on Intel the same way they made on Microsoft. But again, it's the same thing. If semiconductors start breaking down and watch Intel at this level, maybe it starts breaking down with it. Tesla watching, definitely watching Tesla. Maybe there's a multiple-day run on this thing. Maybe there's a multiple-day. It did reclaim the five-day moving average. It did reclaim the 10. I didn't think the earnings were bad to begin with. So maybe Tesla has its own bull cycle. Remember, Tesla doesn't need a reason to rally and sell off. That's why it's the greatest stock ever. When it goes, it goes with tremendous option flow you saw on Friday that were coming for the 740s and the 750s for this week's expiration. So they're going to get paid. Then some levels are definitely need to get reclaimed. So I'm definitely watching Tesla, but if it gets rejected off the supply, then we have a clear channel back to short. Again, we're watching for day two, maybe run on Facebook, had a big run Thursday, rested on Friday, maybe it resumed on Monday. And Zoom, I know Zoom is great and everything is wonderful with Zoom. There was actually a big, big call buyer that came in, I believe it was for the 380s and the 390 short-term expiration from Zoom, but, and again, I have to check their earnings date, but you can't really ignore this chart, right? Look how close this thing is to really breaking down. And once we establish kind of a range of trend for Monday morning, if there is any type of weakness, names like Zoom, names like Peloton, you definitely want to pay attention too. So that's it guys, that's it. We're kind of set up open-minded, anything can happen. Obviously the macro case on the Qs is still very, very strong. We're still way above the 50-day moving average, but it doesn't need to translate into this week's session. It doesn't need to translate into Monday's session. We can still have weakness and we can still take advantage of it if levels start to confirm. So guys, have a great weekend everybody. God bless. I love everybody. Thank you for all your kind words, your support and always great feedback. I wish everybody the best of love, like and everything in between. God bless and I'll see you all Monday. Take care.