 You're talking about 35 point rally from the bottom of this channel all the way into the 50 day moving average and the cues were down less than a dollar today. That's super duper bullish. 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, getting everybody happy Monday and welcome to another edition of the access a trader.com weekend or actually Monday update show Freudian slip. It's Monday talking about the weekend. Hope everybody had a good trading day today. So after last week's really huge. I mean, that's the best way of saying it. Huge 8% move in the NASDAQ. The question was, what was going to happen today? Right? I thought, especially going into this today's session, I really believe three things were going to happen. Okay, we were either going to get rejected off the 50 day moving average and have a violent implosion. We were either going to advanced above the 50 day moving average, again, kind of stretching out the rally that we had from last week, or the most logical part about what was going to happen today was going to be an inside day. And that was kind of the first things we kind of let off with, you know, kind of let off with a morning strategy today. You know, a lot of times, you know, people get so aggressive, and the whole euphoria of the market that they're thinking gets really, really clouded. Okay, and they believe that no matter what happened the previous week, it automatically spills over and things are going to continue to continue to continue. And like we talked about in the weekend update, things need to breathe, right? And that's not great sometimes, depending on what style of trading you are, or what stocks you trade, but it's very, very healthy. And inside days, and distribution days, whatever you want to call them, they're very necessary. Okay, they play a huge part in the organic movements of stocks. Because again, like we talked about on the weekend update, if stocks get too aggressive, too far, too fast, even the biggest bulls are going to turn around and say, Yeah, that's enough. You know, I can't. This is way too much. This is way too extended. You don't want to give the bears too much ammunition to have them turn around and say, See, we told you so, let's start selling stock. And that's exactly what happened today. The most important part about what we saw today's day was what we saw after the Fed, right? It feels like the Fed is literally speaking. You had Powell started speaking towards the middle towards the middle of lunch or so. And what was great about the morning session was the market was pretty lethargic, really did nothing. But technology names continue to build. You had Tesla on a big, big move yet and the video huge moves, you saw Apple moving up, right? You saw Apple moving up. Amazon never gave back never gave back any gains. And this was super duper bullish. And Fed, you know, Powell came out, he started talking about inflation, the same comments that basically rallied the market last Wednesday, knocked down the market this this afternoon, at least in the beginning. And if you look at the 60 minute view here was Powell, right? But what was exceptional, which is very, very notable kind of what's been going on for the last several times, we've been getting any type of bad news or any type of negative news, the bulls did exactly what we did last Tuesday with the Putin comments, the market swished it back up last Wednesday when Powell speaking, they swished it back up. And then exactly the same thing today, you know, the Fed started talking, Powell started talking, they took down, you know, they took down the cues again, very aggressively from 352, all the way back down to 345 and look, you know, look, look what happened at the end of the day, you're talking about 35 point rally from the bottom of this channel all the way into the 50 day moving average. And the cues were down less than $1 today. That's super duper bullish. And when you look at a lot of the names, right, they got big, big moves. They either consolidated today, or an inside day. And now the market just needs to kind of breathe, right? Look at look at all the stocks, right? You have Amazon, you know, really, really big move into supply. It needs to go sideways. You have NVIDIA had a huge, huge, you know, four day move into supply. It needs to go sideways. Tesla is just an absolute monster. But look at Tesla stop, right? Right into the supply zone here in this 343 level. Again, it needs to go sideways. And the one thing that they always remember, okay, sentiment is great with organic option flow, right? Option flow is usually one of the biggest indicators of what potentially could happen next. And even when we saw today, the Nasdaq down, you know, 150, 200, ultimately only down 50 points in the day, the one thing that we kept on seeing that we saw from continuation of last week, we saw a big, deep, out of the money call buying on a lot of names with short term expiration. That's exactly what you want. That is the ultimate bullish sign. Now the question is, again, how long is this distribution, right? How long is this rest necessary? Okay, because remember, these stocks need to catch their breath. There's a lot of names that had big, big moves off the bottom. But you're going to see a lot of the common denominator stuff that supply, you can go through the Nasdaq 100, whether it's Apple, Amazon, Nvidia, Tesla, they all got stuffed into supply. Now, the tricky part for new traders are, you know, just because you see these things start turning red, doesn't mean they're shorts, right? Like I like I've been saying, for the first three months of kind of the cell bias, when you get a debt cab balance in a cell bias market, right? Stocks are going stocks are moving up, but they're not going higher. When you have bullish distribution or rest, okay, stocks might be moving down, but they're not going lower until technical damage confirms them going lower. So the question is for the next day or so, how long is this going to be a rest, right? It could be one more day. It could be two more days. But the key now for the bulls is to get their feet onto them, okay, get back above the 50 day moving average, and now start their bigger, aggressive, stronger push back to the 200 day moving average, which is ultimately going to be a big, big battleground. And that's when you're really going to know who has control of the market. So you're not going to get quote unquote, big breakouts tomorrow, or at least you shouldn't if there's a little bit more rest. But the key in this type of market, you want to buy the stocks that had the big, big move like in the video, like an Amazon, like an Apple, like a Tesla, you want to buy them into dips. Okay, because again, you're gonna have a light volume dips and the key on those light volume dips to make sure there's buyers coming in the options market that are still buying those deep out of the money short term expiration calls. And now they're buying them into weakness. So you got them into strength, you got them into weakness and the key right now to every single stock, you want to kind of buy them on the on the rising five day support, right? But remember the five day support, whoever has control of the five day support is probably going to have the control over short term sentiment. So if you get a pullback, whether it's the cues, or it's your favorite stock, it could be Nvidia, it could be Amazon, it could be Tesla, whatever the case may be, if you get an arrest type of scenario for the next day or so, and they pull in back into the five day moving average, and you are getting that continuation of short term expiration call buying. Those are the names you want to buy because it's the high probability they're going to get defended off the five day moving average and start to bounce. And remember the longer the distribution in the cycle without the market going lower, the higher probability in the next two, three days, whatever the case may be, right? If we start getting above the 50 day moving average, that should start its next leg up where we have to be worried. Again, this is you know, we don't you know, we don't trade the markets with rose colored glasses on it gets it's it's it's it's everything is determined based on the closing price. So today's closing price was great, it's just an inside day rest. But if we start losing the 20 day moving average, that's where you have to really pay attention. If you start losing the 20 day moving average on any one of your stocks, or the cues lose their 20 day moving average, obviously, the narrative changes, the sentiment now changes. And this becomes nothing more than another cycle of a dead cat balance going into supply, just the way we saw here, just the same way we saw here. And now we're saying it here. But right now, we are going to give the bulls the benefit of the doubt. Obviously, anything changes on a dime in our decision making changes on a dime with it. But based on technical analysis, not what we want to see happen. I know you see a lot of people talking about say, well, we just had a four day rally. The bulls had their fund now we're going to roll over and go red. Maybe we will maybe we won't. Again, we don't know that nobody has a crystal ball. We can't tell the future. But my game plan, I think for the next day or so, let these stocks, you know, go through distribution. If they come into rising 60 minute support, they're going to be buys if they come into rising daily support, whether it's the 20 day, the 10 day, the five day moving average, they're going to be buys you want to give the bulls the benefit of the doubt until the winds have changed and until these stocks start breaking and closing below their rising daily support. That's going to be a very, very big key. Going into tomorrow again, you know, I don't love anything. You know, again, these energy stocks look good, right? I mean, again, you got to you got to play them a different way. You know, the energy name should be bought again into rising support. Look at the names like Southern companies, right? We don't talk about Southern companies, but it's a nice looking chart. You know, look at the name. Look at the name, for example, like FLR, right? This is a nice looking chart, but it's not Tesla, right? It's not Amazon. It's not, you know, it's not Apple. It's not UPST. It's not, you know, it's not Roku. Okay, it's FLR, right? And maybe it goes, maybe it doesn't. So if you are a beta trader tomorrow, you probably want to avoid these names, right? If you are a swing trader and this whole theme continues, then yeah, you got a nice looking chart. Look at Splunk, right? Nice looking chart here as well. This is one of the names that I will be watching for tomorrow. But again, had a big, big, big rally off the bottom. It's at the 50, it's at the 150-day moving average. It probably needs a couple more days to relax as well. But a name like an ENPH, that at least you have the same theme as the solar's energy, blah, blah, blah, blah. This actually looks good if it starts confirming tomorrow. Again, this is not a Tesla, but it could wake up tomorrow. Again, if all these names start following through. So tomorrow is a little bit tricky, right? A little bit tricky. If you are a beta trader, stick to the dips, enter rising 60-minute support. Or if you want to take, you know, maybe some take a little time on the sidelines, that's fine. But again, arrest is good. Maybe it doesn't affect you on a day to day, but structurally organic. It's very, very good and it's very, very necessary for stock. So let's talk about today's session. Again, here is my, you know, here is my, basically my thoughts before the morning. Remember, we had a monster for they run a percent move. It's very possible they have a spike at the open and get stuffed and have to take off the formal hat. That's exactly what happened. Everything spiked at the open. You had a big Tesla spike. You had a big NVIDIA spike. A lot of these names did spike and then they kind of came back in. And the most important part was we were prepared for it. So here's the, you know, here's the day. So NVIDIA, huge breakout on Friday stopped at the 266 supply. And today, like I said, it's a 266 meets a strong base for a 271 push on NVIDIA. Here was NVIDIA. It took out the 266 and went right to 271. So it, again, needs a couple more days to relax or break, excuse me, or a slow, volume, lethargic move back into the rising 16 minutes support for a little bit of distribution. Tesla continues to be a monster. 923 rejected twice pre-market. If it builds, can see 932 and a possible move to 943. I mean, look at Tesla. Here's exactly where it stopped. So here is the whole, here is the whole break and it stopped right at 943. 942. 85 is the high. And again, it needs a couple of days break. We'd like to see a little bit of weakness to get it into rising 60 minutes support. I believe that was it for as far as natural pivots. Airbnb never got this. CRM never got there. Crowd never got there. Tesla, big, big move, blah, blah, blah. Yeah, that's it. That's it. So I think the key, I think the key is the word patients now. Let these dogs breathe. Let them relax. If you are trading other sectors, if you do your homework, you will see some pretty good potential setups for tomorrow. ENPHs of the world, floors of the world, and things of that nature. But if you are trading technology, just remember, patients will definitely play a big part in your career. But more important, patients plays a big part in distribution and a next potential move in that direction. Guys, have a great night. God bless. Happy Monday and I will see you all tomorrow.