 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, good evening everybody. Welcome to another edition of theaccesotrader.com. Nightly wrap up show, hope everybody is doing well. Hope everybody had a good trading day, some really, really good action today. If you are brandy to the channel guys, thank you very much for finding us, tuning in, give us a couple of minutes of your day and we will try to provide you with unbiased day to day market analysis. So a couple of days ago, I made a video and the video basically was, hey look, this market is beyond euphoric. We've run out of superlatives. It reminds me of 2000, 1999, 2000, but it's going to end one day. It is. It's going to end one day before you know it, it's not going to tap you on the shoulder and just be very, very careful because again, if you're just in the mindset of nothing's going to happen, well something eventually is going to happen. The next couple of days we saw a lower high put in and then we saw today a pretty steep decline for the majority of the day, nice little squeeze back towards the end of the day, but nice little decline. By no means do I think this is the top, at least it doesn't give us any really heavy duty signs that was the top, nor am I trying to call the top or anything like that. I'm not trying to play fearmonger, all I'm trying to do is just give you a pretty good dose of reality. If you noticed a couple of days ago, we had two stocks that continuously started getting weaker and weaker. The first one was Google, right? First one was Google, lost the 50-day, continues to get lower. The second one in Apple, we've been kind of talking about this Apple range if you've been watching the broadcast for a while, for a while, finally got below the range, got absolutely hit, apparently their iPhone sales in China not going according to plan. The stock got really, really hit today and obviously Apple took a lot of the names with us. Tesla, right? Tesla turned into be an absolutely incredible move, absolutely incredible move for all you guys who took it with us yesterday, followed through today, just absolutely amazing. This thing is literally a stone throws away, maybe a day or two away, three days away from testing the bottom of this February lows and I'll be there for that. The more important part is today was the first time that gave us another clue of, hey, potentially watch out for this. If this thing happens, and I'll tell you what that is, if this happens, maybe more stocks are going to start to come undone and that was kind of a very, very big theme. So I saw the news come out from Apple, obviously Apple is about 11% weight on the NASDAQ 100. It started taking down stocks with them, right? And today was the first time that I can remember, for the exception of the three names we just talked about, you started seeing other names start losing previous days channels, right? So for example, Meta lost the previous days channel, okay, stopped at the 20-day move, 10-day moving average. Amazon lost the previous days channel. Who's the other one? Oh, Microsoft. Microsoft had killed that. Microsoft lost a weak worth of channels. Here is where it gets super, potentially super aggressive, that's when you really have to pay attention to what the market's telling you. Once you start seeing the majority of names start losing multiple days worth of channels, that's where you're going to have a very, very big problem if you can't identify what's going on or if your approval is talking about by the dip, bro, by the dip. Yeah, it's going to work a lot in a bull market. It absolutely is. But when you start seeing multiple names start taking down bottom channels, that's where a problem can absolutely occur. At the same time, you had Bitcoin, right? Bitcoin, congratulations to all you Bitcoin shareholders. First time today, well, not first time, but the stock, well, that's stock, the coin took out all time highs, went up to like 69,000 change, retreated about 7% from that level. But congratulations, absolutely congratulations. The one thing I want to point out, certain people believe I'm anti-Bitcoin. I'm not. I just don't care about it. It's just one of those things that it's out of sight, out of mind, right? I've never flown private. I've never sat courtside at a game, right? It doesn't mean that my life is less fulfilled. It's just one of those things I just don't care about. I think I have enough going on with the high tech mega cap stocks to really fill my time. So if you know, congratulations. If you made money on these coin bases and all this stuff, congratulations, but not everything is for everybody. So believe me, I'm not anti-Bitcoin. I'm not anti anything. I still care. This is one of those things that I have my own lane. I trade what I trade, how could I miss something if I don't care about it, right? Think about it. Congratulations for all you guys who've been riding this Bitcoin and other Ethereum's and all these other stocks, all these other coins I just don't know the name of, but congratulations on that. So what do we need to see going into tomorrow? Well, here it is. Number one, we need to see, you see how the Q's held the 20-day moving average, right? The Q's held the 20-day moving average, which was very, very important. The line in the sand now becomes this 433 level, right guys? Everybody see it? This is 433.50s. So that's going to be the line in the sand. That's going to be the area that if it does start taking down that range, that means multiple stocks that we just discussed and will discuss in the future will probably carbon copy the mirror image of the Q. So write this down, guys. Send an alert for yourself on whatever platform you have. I use e-signal, legacy, literally, legacy is literally the, I started my profile in 2001, so a long, long time. So just set an alert, right? I use set alerts all the time, set yourself an alert. So if the bulls start giving up this 433.65 level, that's going to be a very, very big problem. I'm assuming tomorrow just because how strong the market is, I'm assuming tomorrow the market might have some sort of dead cat bounce, right? Just because number one, we tested and held successfully a major rising support and two, we haven't had two consecutive really horrific moves from technical damage since 2023. So I'm just kind of playing the cards, but I am ready. And like I said, on the weekend video, I wasn't ready for the pullback of the dot-com era. I wasn't ready, fully understood with the ramifications of what happened during the financial crisis. I'm ready, baby. I'm ready. And today was absolutely great, Tesla. We came in short, Tesla. It took out every level yesterday, took out that 198 level, closed on the lows, lowest formation. The damn thing went all the way down to 177. Guys, this is the bottom of the range here, okay? The bottom of the range here is in February. If you look at the weekly chart, and again, I'm not saying it's a get there tomorrow, but if you look at the weekly view on Tesla, you could see how important those February lows are. In the next couple of days, yeah, who knows? Maybe Tesla bounces tomorrow, but in the next couple of days, if Tesla starts losing the bottom of the weekly channel, it's going to go lower. We saw incredibly aggressive put buyers for today. We saw them coming for the weekly 180s, 175s, 170s. We saw for next month, 165s, 160s, hell, we even saw some for April for the 150s. So yeah, there's a lot of institutional money flow coming in for Tesla, phenomenal two-day move. Congratulations to what you guys recorded. This was phenomenal, absolutely phenomenal move. And now our next big entry is going to be below those February lows that's going to potentially confirm the weekly chart of Tesla. The other names you have to watch for a potential, or at least clues, is NVIDIA. NVIDIA is just a rock star, just an absolute rock star completely on its own planet. Again, huge coal buyers came in again this morning. It actually was down like 10, 15 points, came all the way back green. Again, as soon as this thing starts losing the five-day moving average, that's when it's going to be a nice reversal in the name. And talk about a call of 2024 without guessing and catalyst. A guy came out roughly when the stock was, I would say, when the stock was right around here, 1037. A guy bet 2.8 million, I put it out on my regular Twitter account, 2.8 million for the 1,100 weeklies. Okay, 2.8 million for the 1,100 weeklies. As the market looks like it's about to fall into the abyss, look at this move here into the close. Man, this guy for just again to borrow the term, the saying from billions, from dollar bill, he was not uncertain. This is an incredible move. So these two are obviously continuing to hold up the bull case on their shoulders, but right now we definitely have a line in the sand drawn on the 20-day moving average on the Qs. We definitely have a lot of names that are starting to mirror that 20-day support on the Qs. We have Tesla in the next couple of days that potentially could be massive. If you think of them for the last couple of days, we're good. This thing loses the weekly channel. Oh boy. This is going to be really, really good. The key is to let the market tell you what's going to happen next. Tomorrow, is it possible we have a dead cat bounce day? Yeah. If we do have a dead cat bounce day, IBM continues to hold up very strongly, had an inside day, NVIDIA, a good look. If they're going to rock this thing to 900, let's watch this thing above today's range for tomorrow. I'm sorry, this is a bad print. So there's going to be things to do. The key is just relax, let the market speak to you. Get these setups. Don't anticipate. Don't guess. Don't fight with anybody on social media. Nobody knows anything. Price action is the key. Your opinion, in my opinion, is like to meet somebody turning around to me and say, damn, what do you think Tesla's going to be next week? I couldn't tell you what's going to be tomorrow. Okay. But I do know the bottom of the channel and I know how important it is. So guys, have a great night, everybody. I hope everybody does well. I'm going to cut this a little short. My daughter has her end of the year varsity basketball dinner. I will have to attend because my wife cannot. I get to be social Dan. It's like putting a bull in a china shop. Not exactly the most delicate thing for people who are about to embrace my presence. Guys, have an incredible night. God bless everybody and I will see you all in the field tomorrow. Take care.