 We have a very definitive channel here, right? You got 30, you got, let's just call it 339, right? You got 339 to the downside in the Q's and you got roughly the 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 theaccentrader.com nightly wrap-up show. Hope everybody is doing well. So if you weren't an active participant in today's tape, today's 600-point rally looks pretty damn good considering, well, we sold off 600 points yesterday and the day we made it back today. But if you traded today, if you're an active trader, this was one of the wildest, if I can remember, one of the wildest sessions in a very, very long time. Last night, we were looking for kind of a confirmation. My game plan for coming into today was looking for confirmation on a lot of names that closed at or a little bit below the five or the ten day moving average. And the way the market started, you know, we were getting that plan, right? The plan was was playing out a little bit. You had some moves coming in that direction. You saw a lot of weakness. And the one thing that we knew was going to happen today was the Powell testimony, right? But I didn't anticipate Powell, usually, you know, you get a Fed day. You get a Fed day from two o'clock, right? Fed minutes, this, that, the other thing. I didn't realize this dude was going to literally be speaking for the whole day. I mean, I think he was getting paid by the word today. And, you know, every single, no matter what he said, no matter, literally, no matter what he said, the market was either going up or down, up or down, up or down, up or down. And, you know, the violence, right? That's the best way of saying it. The violence that we saw on the tape today was just out of control. And I was joking around that I posted one of these gifts or GIFs, whatever they're called on one of the famous matrix scene, right, when he's going on his back. That's what it felt like today. It felt like every single trader was like in the matrix, dodging bullets. If you were long, it was exciting. It was if you're short, it was exciting. And the one thing I've been saying for years, if your strategy, if your process, if your day is exciting, you're doing something wrong. Trading is not supposed to be exciting. It's not supposed to be fun. It's supposed to be methodical. It's supposed to be boring and methodical and boring equals predictable. And the one thing that we did not see today was predictable and up and down, up and down, up and down, with every word coming out of his mouth, you had a new channel that was being compromised. And then you started seeing headlines coming from the whole Ukraine-Russian affair. And then you started seeing that there was a headline that the delegation from the Ukraine, supposedly we're going to be Russia for potentially some talks, the market like that as well. And then you started hearing the language of the Fed and he started talking about, he would endorse a 25 basis point move in March and then slowly but surely the market started going higher. And that was kind of like, well, what happens next, right? And what happens next scenario was playing out all day. And the most important part of what we saw today, the wildness, the aggressiveness, the action, the sexiness, right? The violence, right? I think that's the best way of saying, Powell woke up today and he chose violence, right? He chose violence for the market. And all this is happening above the five day moving average and below the 20. Everybody see that, guys? This is how tight we are. So imagine how much violence there has to be. And I saw a lot of trade, like I started looking at social media today after four o'clock and a lot of people just having the same kind of reaction. Well, what the hell happened today? Where did, how could a tight channel day in the queues, right? How could such a tight channel interval in the three days in the queues be so damn violent? And that's, well, hello, welcome to a war slash fed driven fluid motion news type of news cycle. And that's kind of where we are. And you have to make adjustments. It's very, very tough to be in a position and just kind of just go outside and go to the park and just let the position play out. You're going to come back and you're going to be dumbfounded of how the hell did we get here? And that's kind of what we saw today. And as much as there was opportunity today, I really do believe that if Powell did not speak today or speak today the whole day, I do believe the game plan would have played out today. I really do believe so. We saw just tremendous amounts of weakness this morning into an incredible amount of aggression this afternoon. So the question going into tomorrow's session, which way do we break, right? And that's not, you know, that's not an answer I can give you. That's not an answer I think anybody can give you. If you look at the daily chart on the queues, we have a very definitive channel here, right? You got 30, you got, let's just call it 339, right? You got 339 to the downside on the queues. And you got roughly the 349, 350 area here on onto the upside. Something has to give tomorrow, right? It really, you know, something really has to give. If not for tomorrow, maybe the next couple of days, but something has to give here. And when you look at the activity today and we'll talk about, we'll talk about the individual pivots in a second, it's very, very rare. I'll give you a perfect example. It's very, very rare that if you're trading Tesla, you're probably going to be one sided for the day, right? Because again, based on the daily chart, right? Where it is in the spectrum. Today, just to give you an example, there was a pivot to the upside. Then the stock, for whatever reason, decided to sell off 40 points, created a pivot to the downside. Then towards the afternoon, it gave a pivot to the upside. There was a reload seller there. You know, a cup of coffee game, maybe $2, $3 before, you know, a couple of bucks, excuse me, a couple of bucks before it came back in and then ripped into the end of the day. And now you turn around after the close and Tesla's down 10, right? And everything's down, selling off after the close. And a day like this, you can really burn a lot of mental equity and kind of just kind of the point of Tesla. You know, usually if you get a move and stops in one channel, usually holds the previous day as high or low, yeah, you could see it trading both sides. But if Tesla is giving you two or three different pivots throughout the day and they're not correlated at all, it really shows you that violence is real. It was upon us. It probably will stay here within the next couple of days or so until or maybe even the next couple of weeks or so. But the most important point is you have to adjust to it, right? You really do. You got to adjust to it. You got to figure out where's the safest course of action. And you got to take, you know, you got to take your flow when you get it. It's almost like to the point of you can't sit there and wonder if your stock is going to come back. The probable chances of that is not. And that's kind of what we're seeing over and over again. The good news is I kind of like what the market with the bulls actually did today. And if you look at where we closed, we actually put in a higher high in the last couple of days, although rejected off the 20 day moving average. For now, again, we can reclaim it tomorrow while putting in a higher low from the five day moving average that they reclaimed yesterday on the close. So that on the surface looks pretty okay. But again, there's just so many variables right now moving around. It's so tough to get comfortable and it's so tough to prepare for a trading session one way because you know there's a good chance the downside or the upside is going to come into fruition. So tomorrow, you know, I have some longs. I have some shorts that I like, you know, I'm going to watch Tesla, right? I'm going to watch it. I like this 60 minute channel is getting tighter and tighter here. I'll keep an eye on it, right? But for every Tesla, you know, look at a Netflix. And again, we'll get to the pivots in a second, right? And look at a Netflix, you know, this thing is one day away. It hit a double bottom off the February 25th lows. You know, this thing is one day away and it never rallied from starting to test the lows here for every UPST that looks, you know, really, really good, right? Starting to set up, you know, it needs a day or so to confirm back to the upside. You have a name like Rivian that, you know, couldn't get out of its own way. And now it's approaching a very macro channel. So for tonight, you have to, in my opinion, again, in my opinion, you have to create an actionable trading plan for both sides of the market tomorrow. It is so unpredictable. It is so wild. It is so deranged right now that whatever you think could happen, it can happen, but it could happen later, cannot happen at all, or or it could happen to completely opposite case. So it's incredibly violent, incredibly exciting. And we don't want that. We want boring, lethargic, predictable. So we'll see what happens with tomorrow's session there as well. So let's talk about today's day. There wasn't a lot, but the ones that went, you know, they were pretty aggressive. I'm still watching this umbrella. I had a really big move down yesterday on earnings, dead cat bounce. It kind of reminds me of, do you guys remember the Roblox, right? The Roblox trade, right? So Roblox went down on earnings, the next day bounced a little bit, and then the following day got destroyed. Well, take a look at Ambrella for tomorrow as well, AMBA, right? Look at Ambrella. You have this big move down, had this little move up, right? I want to watch this thing for tomorrow. This thing confirms the earnings lows. This thing's going to get hit. So keep an eye on there. It didn't confirm obviously today. DWAC, nice pop, 222 highs and they had some sort of negative hit piece on it later, but the February 22 highs, 99 needs to confirm. Here was DWAC, right? Had the initial pop, right? Had the initial pop above 99, went to about 102 and then reverse cores. Good job for all you guys who got it. You know, and this is kind of what we talked about, you know, the Fed kind of killed the day. So here was, you know, here was Amazon 29.98 for builds below can flush. It went down about 25 bucks, right? It went down about 25 bucks or so. And then you started seeing Fed, Fed, Fed, Fed, up and down, up and down, up and down, up and down, up and down, up and down, up and down. And ironically, you would figure the market would have such a strong day, Amazon would be up 50, 60 points. And here's my point, right? Only up 18 points. Again, markets demonstrating weakness, demonstrating strength at the same time. But boy, oh boy, trying to figure out what could have been. Netflix got hit and never rallied today. That was the most important point, 382, 381, if it builds below can flush. And this is my point, there was value on both sides of the market, despite some very, very aggressive notions. So here's the 382, 381 level, traded down to 375. That's me, the big line in the sand going forward. Facebook never got the 202. Abercrombie and Fitch got hit pre-market. I don't think anybody got the 32 off. It went from 32 all the way down to 29 before rebounding. I don't think anybody got this thing off. Tesla was pretty good. Tesla was pretty good both sides today. You had the 875 break, although it was very, very thin. You had the 875 break, basically 880 second entry today, initially traded up to 886, came back in and then here's my notes. I go look, we're watching both the upside and the downside today. Here's the upside channel, 875 rejected three times. Went to like 886. And then there was a pivot to the downside as well, which was good. Here, nice spike in the morning. If 853 builds below, it can sell all the way down to 844, the initial 10-day moving average. And this one actually worked out pretty well, right to the 10-day moving average. And look at the low of the day today, right? Right to 844. So the market's just all over the place. It really, really is all over the place. If you're a newer trader, that's the best way of saying it. I think if you're a newer trader, maybe you should sit and watch this for a couple of days just to see what's what. Because again, you need to train your mind to absorb this type of violence, to absorb this type of really aggressive moves. And sometimes because of your experience, and some of you guys have been trading a year or two, three years, your mind is not catching up to the speed of the action. And a lot of times you're making a lot of emotional mistakes or emotional judgment plays based on what you think is going to happen instead of confirming. But guess what? In this type of environment, what we've seen now for the last 12 hours or so, 24 hours, even when it confirms, you have outside elements to kind of disrupt the trade and kind of take it the other way. So crazy, crazy action. The one trade I messed up on today, and this is kind of where I messed up, there was a big buyer today came in for, I think it was the June or July, June or July. Man, I don't even remember which one it was. Was it the 120s, 120 puts? So I shorted Rogue who opening range low off that 32 area, and it got down to like 131 and change. Now, why was that a problem? I forgot to look at the daily chart 99.9%. I look at the daily chart and I'll say, All right, let me let me wait till it confirms that number. I didn't do so. So I shorted it and only went down like 60, 70 cents. It started rallying back only lost like a dollar and change. It's not the point of the money. But here's the problem. If I would have just waited for the daily chart, right to confirm, look at the damn thing did. All it went down was $7 without even an uptake. So guys, remember, as cool as your intraday charts look, and they look great, and they're looking about to go in that direction, remember the ultimate, ultimate judge jury and executioner is the daily setup. Guys, God bless, have a great night and I'll see you all tomorrow.