 show baby step, bullish sign that this whole range, whole right, this whole downward range could finally be broken and that's kind of what we said we go into this week. 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 Nightly Update or Weekend Update show. Hope everybody is having a start to their weekend pleasant start beautiful weather we're having so knock on wood life is good because again we're all alive and we are all healthy. So let's talk about the market. We are right on the doorstep of the elections okay which means that a lot of fund managers, a lot of index funds, a lot of hedge funds or even a lot of more experienced individual traders are pretty much in a holding pattern okay I don't think anybody can turn around and say look we know exactly what's gonna happen after November 3rd we know exactly what's gonna happen with the whole stimulus bill that by the way we had a you know a line in the sand last Tuesday and here we are Saturday morning and nothing has been done yet so all lines in the sand or just as much as worthless as anything else so there's a lot of uncertainty okay yesterday we had the highest spike in corona cases at this point so there's a lot of things up in the air and what you're going to see when we started seeing into the latter part of last week Thursday into Friday there's going to be many days that you are really going to find a lack of value okay and that's kind of what we saw on Friday was one of more slower sessions that I can remember in a very very long time especially in the beta the tech space and we'll get to that in a second but what I think is going to happen between now and the election day and again like I said in previous videos I don't think once the election results are released I don't think it's gonna be one of those you know smooth transitions that Trump or Biden is going to bow out gracefully with the results I think there's gonna be a lot of dispute I think there's gonna be a lot of doubts and there's going to be a lot of indecisions of what's happening next with the leadership of our country and these are all things again Wall Street doesn't like Wall Street doesn't like anything that is up in the air okay I think that's it's a very very known fact that when there are things that we are kind of out of our control ranges are going to tighten up and that's kind of what we we want to understand as traders again most days you're going to have really aggressive channels okay because again especially the stocks that I trade you know the tests of the world Netflix Zoom you know beyond the video stuff like that they're gonna have natural big average two ranges so you could always spine on most days some value either to the long or through the short side and obviously when there's a macro confirmation you know you're going to get really really exaggerated value but when things are kind of in a holding pattern and we're what you know we're kind of waiting to see what happens next with a possible vaccine or stimulus again everybody is hoping that the Democrats and the Republicans could kind of find their way and finally just kind of get a deal done just get it over with again it's not going to really reflect what is going to be the guaranteed next move in the stock market but at least it's one less thing overhead so hopefully by the time this broadcast is released hopefully there'll be at least a deal done maybe Saturday maybe Sunday Sunday night maybe Monday but hopefully just get it out of the way one less thing we have to talk about so I think between now and the election day I think if you are especially a day trader somebody who trades in the intraday ranks I think you just have to come to the grips that every single day might not be your day and I'm not talking about P&L wise I'm talking about the idea that something that organically you trade every single day is just not going to be available for you for a value to your situation and if you look at most of the week Monday through Thursday we're really really good matter of fact if you look if you've been watching this broadcast again there was really good value to the downside we talked about the macro move in the queues a couple of days ago that finally broke we talked about the queues reclaiming supply on Thursday's video now we're going to kind of talk about what happens next what I think is going to happen next or it should happen next if technicals confirm but again you have to be a grown-up about these things so again if you're trading you know if you're trading the futures for example if you're a mini trader and the ranges are just not big enough for you to take advantage of a possible macro move you can't squeeze more water out of a rock you can't just put on a trade and hope it goes in that direction for expect expended measure potential same thing with stocks like if I'm trading the video and the video is a tight range for like five days and there's just no room for a trade I have to be an adult about it or give away my money again there's only two things you can do so I think going into this week maybe even into the November 3rd deadlock election day I think you're going to run into a many more days that are in a holding pattern I get you have two choices either try to squeeze water out of a rock or maybe kind of sit those days out against we talk about all the time we don't trade because the markets open we trade because we get value so I think you're going to run into more days from now till November 3rd that are like that but if we do get macro channels that do confirm okay and that's the most important part the macro channel not the intro they move that you can squeeze out 50 cents a dollar dollar 50 in a trade we're talking about the bigger macro channels once that confirms that's when you can see a bigger measure potentials and those are the days you get your jacks you get your queens you get your kings you get your aces and those are the days you do usually do very well and that's kind of the segment where we're going to right now in the queues if you look on Friday although if you look at the scoreboard towards the end of the week you saw the Dow and the Nasdaq down about 1% for the week the S&P about down 5.5% which is actually great considering we've been literally down for the last two weeks right 10 days in a row two weeks of trading literally down so the idea that the bulls actually held Thursday's area held the 50-day moving average and you can see here on Friday reclaimed the five that is at least an initial baby step bullish sign that this whole range whole right this whole downward range could finally be broken and that's kind of where we segue going into this week so here the levels that I think are going to be very very important now again we can't assume that these levels will be confirmed we're just talking from the point of if this happens then stock prices will follow higher if we start closing below the 50-day moving average obviously we go lower so the big number going into this week on the QQQs is the previous days high that got rejected off the five-day moving average which is roughly 286 right 286 a reclaim of the bulls and they start building over that number give us an organic move to 288 which doesn't sound like a lot but that's the birth of the trade again if you've ever watched his broadcast and you really believe the theory of technical analysis works which it does you can see how twice it got rejected here at this 288 level which is the 10-day I call the 10-day moving average the birth of the trade so if we can reclaim and again these are baby steps you don't want to put the cart in front of the horse but if we can reclaim Monday this 286 level and close above 288 then we have a big macro potential big macro measure potential to go right back to this 295 295 297 level the highs that we put in on October the 12th so it's kind of important again if you believe in the bull thesis the bull sentiment that this has to happen right 286 288 and then we have a big big moonshot to the 295 297 ever however right again because there's always two sides of the market the trade if we confirm the move that we had on the 22nd which was Thursday the 50-day moving average any close below this 280 281 level on the cues again is going to start a natural selling cycle now again a lot of you guys still don't believe the technical analysis is kind of important you're you're gonna believe right you're gonna really believe if you're on the wrong side of where the cues confirm either down to you know down move back to 277 or up to the move of 295 so again you could say what you want you can have your opinion of what's gonna happen five years from now we don't know what's gonna happen a day from now let alone try to predict what's gonna happen after the election or even further down so this is we use technical analysis as a guide okay there is no guessing we're not smart enough to guess okay I haven't yet met a trader who's smart enough to tell me what's gonna happen tomorrow without technicals kind of matching up to their theory so it's incredibly important that we let these areas play out okay right big basic stuff 286 to the upside starts an initial move 288 macro move starts an aggressive move any close below 281 we start having the conversation to the downside very very important if you go through charts and again I really encourage traders to really really embrace this business again even if you trade once a week okay if you trade once a week or if you're a full-time trader okay this is not a business that you can take for granted this again this is the hardest business in the world for a reason so even if you're trading once a week you still have to put that full-time effort so if you're going through charts and again every single trader no matter if you're trading for 10 weeks 10 years or 30 years you have to put in that work every single day okay and more on the weekends because again you at least will have a little more downtime but again in this business you get out what you put in and there you can't skip steps okay you really can't you really have to put in that work and make sure that you really understand what potentially could happen next measure potential or your potential dangers if you go in every single day blind and you're in your your only your only research is five minutes before the opening bell to see what $2 stock you're buying of 500% you're not trading you're guessing again you might as well bet sporting events at least you have a legitimate chance of betting you know betting the favor team so be very very important take this business for you know take this business seriously and really do put in that work so if you look at a lot of names today and there's a lot of names especially in the Nasdaq 100 have already started breaking out ahead of the Q's confirmation which is very very bullish if you look at charts like Google big big move on Google if you look at Facebook big breakout on Facebook you're starting to see stocks strong leadership and again granted maybe they're running ahead of earning season this Thursday coming up you have the Super Bowl of you have literally the Super Bowl of tech stocks you got Google you got Facebook you got Amazon you got everybody right Microsoft so this week we are red snapdab into tech earning season we're going to get a lot more clarity but again it's a really good thing that as the market was coming in for two weeks you're getting the breakouts and these really big aggressive cult like stocks Facebook Google and stuff so it's very very important again we kind of try to get as many clues as possible but again really good stuff here and if you start looking at charts that are about to come out of range is you know names you know like a Microsoft right they're kind of mirroring the Q's you can see how right you can see really similarities of what the Q's chart looks like and what these individual equities look like they're very very similar so if you look at Microsoft again it might be a day away if you look for example like an Uber right really really good aggressive November and December $40 call buying again it's very very close as the market was selling off this week with this thing was just building building and building and all it needs to do is confirm this channel here so you're getting a lot of really good value even this even the leisure and you know the leisure travel space if you look like Las Vegas Sands you know it's like one day away maybe two days away from really really busting out so you have a lot of really good value plays if these indexes confirm even banks for example and again these brokers and banks in my opinion they like rally like literally twice a year even JP Morgan is very very close to busting out this top of the channel so everything is lining up for us on the positive side this week we just have to wait for everything to confirm that's it we have an opinion we gather the data we did the research we're prepared for Monday's session all we need to do is have these things confirmed so you know again I have to give the bulls the benefit of the doubt going into Monday's session and again assuming there is a deal done or if there's not a deal done at least we are prepared we're not going into Monday morning blind you know blindside of what could happen at least we understand where everything else so let's talk about Friday's session again what in my opinion one of the more slower sessions of the week you really had to sit there tight and find the value okay they just didn't just jump at you it wasn't like one of those days if Amazon confirms and Facebook confirms although Facebook is very very strong it was one of those days you really had to kind of grind it out and if you watch the action the first especially like the first hour hour and a half or so you really did not get aggressive option flow even into next week's potential earnings nobody was really positioning so you kind of saw the big aggressive big money kind of on the sidelines and the action really really reflected and if you if you look at the pivots it really took some digging to really get going for the day and I said this is one of one of the slower days that I can remember in a very very long time so let's talk about this letter you gave the initial move to 104 I still like this setup it gave the initial move to 104 and then the second entry just never happened okay just never happened so I still like this letter you it traded to 104 if this thing can confirm 104 next week who knows you can get a big big run but again guys this is what we talk about second entries you let the stock go through the pivot put in a high letter retrace and once it goes right back to that pivot that is the second entry so I still like this thing into this week but again just didn't confirm the proper way uber 3690 37 the high of the day was 3699 again did not confirm this one was pretty good we actually covered beam in the previous night's video 36 needs to be needs to build beam put up a really nice move here so if you look at beam here is the 36 confirm the 36 went to 38 and change really really nice move on beam congrats for all you guys who took the trade again that's the whole point of what we talked about there wasn't value in in beta right we haven't even talked about not one beta name yet again there was a nice pivot on tesla towards towards the middle of the day but there was no value at least for from from my point of view from the stocks that I trade there was really no big value there draft kings never got to 44 zoom never got to 531 I like this sonu by the way it started gapping up after the close I think it was trading 1620 1630s this is one to watch for this week look at it look at the chart look at the daily chart here right this is one to watch if you could see the 16 minute view after the close it was trading 1620 1630s I didn't see the news on it but we got to watch this thing they were coming in for they were coming in for the December 1750 calls I have to check I have to check if that covers earnings but this is a really nice looking chart keep an eye on this thing again there was no nothing confirmed Roku 2550 26 needs to build never even got close Allergen was a big move congratulations for all you guys who took Allergen but again the common theory is no beta name is confirming Allergen rejected 459 twice needs to build Allergen took off congratulations for you guys who caught this trade here was the 459 put in a $10 move so big move on Allergen and I kept on saying I look sit tight I mean there's no edge here sit tight again there's nothing guys remember there's absolutely nothing wrong of waiting for your setups to play out okay it's it's not a it's not a measure of weakness it's a measure of maturity so again sitting on hands when nothing is playing out is completely different sitting on hands when the market goes down again there's people a lot of people use the excuse cash is a position sit on your hands because they don't have the ability to trade from the short side but again if the market is dead and the ranges are contracting that the smart the prudent thing to do the adult thing to do is kind of wait till things play out so again big big difference so big move on 36 here is the only beta name here was absolutely the only beta name that took off for the whole day and again you can see here painfully slow day Tesla 414 strong base for cash flow keep an eye on that so here is 414 here is the 414 on Tesla let me just show you guys so here is the whole 414 level here you see this 413 84 413 39 so 414 started a really good move on Tesla when it's highest to 421 and you know Tesla starts building who knows maybe slowly could start moving back up so that was literally the only beta name that confirmed for the whole day but that's okay okay that's okay it's again is what we say this all the time it's not how many you trade it's how many you trade properly again if you if you have ever wondered about pivots and you want to check it out you know try you know try the the try the the webinar for 30 days if it's a good fifth it's great again pivots are not for everybody again if you have a $2,000 account there's no way you can trade pivots but again if you've ever wondered about pivots you know definitely check it out it'll definitely give you a kind of a different look at the market that you're used to you know not the normal so it's kind of it's kind of a cool way to trade that most people are not not subjected to so guys have a great great weekend again bullish to start the week we'll see if it confirms and if not again we we look back the other way guys god bless i wish you all the best of luck and may god continue to bless you take care guys