 Welcome to Access to 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, giving everybody welcome to another edition of the access to trader.com nightly wrap up show up. Everybody's doing good. Hope everybody's doing well. Everybody's happy and hopefully everybody is trading properly, right? If you are bringing to the channel, guys, thank you very much for tuning in. You will see on a daily broadcast, it's all unbiased. It's all based on data. I'm a very data kind of guy. I believe in data. I collect data and I trade off data, not opinions, not hearsay, not thoughts, not guessing all about the price action. So all we ask is, you know, click like, click like. If you like the content, share, subscribe, come aboard. And hopefully we will continue to give you a great value. So before we get started, I just want to mention cut this video a little bit quick. My daughter has a basketball game, so I have to kind of get to that. But I wanted to record a video to kind of share my thoughts. So we had a really, really big run up. We've been in a big run up. We've been enjoying this big run up since 2023. And going into today's session, we knew there was going to be three of six companies in the next couple of days to report. That's going to really have a pretty big weight on what's going on for the foreseeable future. Today, we had Starbucks come out, AMD, Microsoft, and Google. Those are the big four. And the question going into today's trading session was, well, did these stocks enjoy the run up? And are these earnings already priced into this run up? And there's no possible way to guess or at least guess correctly before the price action hits after the earnings release. But we're getting that indication right now. Let's start off with, let's start off on Microsoft. Microsoft, after this incredible run up. Just in the last month, the stock has gone from $366 to $413. After the close right now, Microsoft down about $4. Here's pretty much the highlights. They beat revenue, $62 billion versus $61 billion. Their cloud revenue was slightly better, $25.8 billion versus $25.3 billion. Operating income all looks pretty good. Again, looks like it's at least from the time I'm recording the video. It's around a quarter to five Eastern time. Again, I don't know when you guys are going to see this video, but around a quarter to five, it looks like for now it's baked in. Obviously, by the time that the conference call can start, maybe it's up five, maybe it's down another five. But as of right now, it looks like it's baked in. The next one is Google, right? Google had an incredible run up just in the last month, $135 to all the way up to $153. That's a really, really big move. After the close, Google right now is down about $7. Again, pretty good numbers. They beat on revenues by about a billion. They're advertising rows, so there's slight beat on that. They're U2 ads revenue, slight beat on that. And the cloud business slight beat on that. Again, it looks like it was baked in. And the last one, which was AMD, right? AMD looked like a pretty decent quarter. Year over year, you had a 10% rise in revenues. Gaming revenues, unfortunately, took a little bit of a hit down 17%. That's the whole gaming, AI, gamer thing. Gamer thing, right? Gamer thing, the clouds, all that stuff, a little bit down as well. And as you can see here from the last couple of days, they've been selling off AMD. Matter of fact, if you remember, yes, this video, again, we were saying watch the five day. Watch the five day. AMD ahead of the five day, lost the five day and had a pretty big move today. It went from 174 all the way down to 169. So they were definitely selling this thing, losing the five day, which was very, very important. The one name that actually had a pretty good quarter. And again, this is near and dear to my heart. They didn't have a run up. And that's the whole point. Starbucks did not have a run up into earnings. And it's doing quite well after hours, up about three points after hours as well. The key metric going into tomorrow is kind of what we talked about, the level on the cues. And you guys can see the cues that we're still sitting above that 423 level. Everybody see that, guys? This is going to be the line in the sand for tomorrow. If this is truly an isolated incident and the buyers are going to step in and buy the dip in tomorrow on Microsoft, on AMD and Google and others, well, the cues are going to meet the whole 423. If we start losing 423 and lose the five day moving average, it's the same thing as we talked about on AMD. Here's the five day. This is the orange line. It lost its day. This is even before the earnings came out. It lost the five day moving average and it got hit pretty hard. And that's kind of the same play going into tomorrow's session is this five day moving average on the cues. Guys, watch that 423 level. If the bears start building below that 423 level, yeah, then everything's going to get pulled. Remember, guys, we've been saying this for weeks and weeks and weeks. It wasn't like the sky is falling type of scenario. We've been saying for weeks, okay? Reversals will come at any point, especially in the linear market. They don't have to tap you on the shoulder and say, hey, by the way, it's about to happen. They just do it. Every linear bull market, no matter how aggressive it's been, you can go from 1999, 2000. The internet craze, the generational bottom of 2009, the COVID market 2020, 2021, and the current market that we're having now from 23 to 24. Every majestic, every parabolic move in the market eventually will come in and come in aggressively. We've been saying this for a couple of weeks. Make sure you know your levels. If the Q's start losing their 423 level tomorrow, you're not going to want to sit there and start buying dips. Again, you already saw firsthand what happened with AMD losing the five-day today. This is a potential and a reason for the bulls to really give up and have an incredibly aggressive move to the downside. We've seen it. We've demonstrated this time and time again over random levels that get confirmed that have caused technical damage. A lot of people don't know they're there and they give up. We only talked about this yesterday on the video. They give up two, three, four weeks worth of performance in one candle, usually in one day. Again, guys, for all you guys who are especially invested or have exposure to the NASDAQ 100, the QQQ's, guys, watch that for 23 level. The question is, where is the bull market going to go? Again, we're still in the bull market. It doesn't mean the whole market has to roll over. If you look at today, you had the NASDAQ down about 7 tenths of a percent, obviously getting hit after the close, but the Dow Jones industrial average today was up 100 points. If you turn around and use the Jim Kramer, there's always a bull market somewhere, there actually is. This is a group that is not sexy anymore. It's not usually traded. It's not usually highlighted by a lot of traders anymore, but it's a very important group. It's a very important group in Main Street America, in Wall Street America. Just ask what happened in 2007 through 2008, and it is the banks. Tomorrow, you had FOMC, Fed Rate Decision, and ahead of the FOMC tomorrow, the banks are breaking out. You had Morgan Stanley this morning come out pretty positive on a lot of names on Citibank, on JP Morgan, on Goldman Sachs, on Bank of America. Look at these charts, guys. Look at Bank of America's chart. This thing is about to break out. Look at Citibank. About to break out. Look at JP Morgan. This thing is breaking out. Goldman Sachs, very, very close to breaking out. If tomorrow, if we have one of these scenarios that money is coming out of technology and has to go somewhere, especially ahead of the FOMC, could be the banking stocks on a potential day two. Obviously, tomorrow, I will be looking if we have a lot of weakness in the tech space. Obviously, right now, we are selling off as we speak, pretty decent amount as well. I definitely want to take advantage of some channels back to the downside. For example, one of the ones I want to take advantage is Tesla. Tesla imploded into earnings, but again, we were catching this thing below the 50, below the 200-day, caught this whole move down pretty much. So it deadcat bounced today. It actually held up a little bit on the day. The key is tomorrow with Tesla. If it could start losing back the five-day moving average, then this little rally deadcat bounce into the five-day will be all for naught. And if it starts losing back the five-day and the keys start getting hit as well, we could see a move right back to the low. So the key for the bulls tomorrow is buy this dip, right? Buy this dip, protect that 423 level on the QQQs. For the bears, your goal is to get back into control of the five-day, that 423 level on the Qs, and ride it down to that 424-18 level when we'll see the next soft landing, as you can see here by the chart, right? It's actually now 421, the 10-day rose a little bit. But the point is the line is in the sand. We already know what the number is. The key is to come in tomorrow with a nice fresh head. No opinion. You know your levels. You know what we want to do with those levels. And the key question is now, is this dip going to be bought or are we going to have a really good aggressive backtester? We haven't seen now in the last probably... Well, let's see. Where are we right now? We haven't seen one in 2024, right? We really have not seen one in 2024. Again, is tomorrow going to be the day to be determined? And as the old adage goes, we shall see, said the blind man. We shall see. Guys, I got to cut this off a little bit short. I got about a 45-minute drive to my daughter's game. Have a great night, everybody. God bless. Stay healthy. And I will see you all on the field tomorrow.