 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 theaccesotrade.com. Nightly wrap up show. Hope everybody is doing okay. If you hear some random screams in the background, nobody's getting murdered. Nobody's breaking in. My son has like two or three friends, two kids in the house that literally after I have to do this update, I have to take them to basketball practice. So not only do I have to drive my own kids around, apparently I have to drive somebody else's kids around. That is that. So let's talk about the market. What you're looking at right now is Nordstrom. Why is Nordstrom a big deal? They didn't say anything different than any other company in this last quarter of earnings, right? Soft sales, the economy stinks, inflation's hurting us, everything's hurting us, blah, blah, blah, blah, blah, right? Same thing happened with Zoom last night, right? Zoom came out with earnings. Last night they said exactly the same thing. The economy's slowing, blah, blah, blah, blah, right? So why is this different? And the whole point is it's not. Every single company said exactly the same thing on these earnings for this quarter. The only difference is how the market perceived those headlines based on sentiment. If you guys remember when all these companies were coming out with earnings, right? Microsoft missed, Google missed, Netflix missed, Metta, everybody missed, right? If you guys remember every single company basically under the sun missed, but it didn't make a difference because we were above the 50-day moving average and that was a bullish statement, right? That was a bullish sentiment. And now, right, after the last five, six days worth of rallying, the market got tired, right? The market pulled back 2.5% last week. The market couldn't rally today after a 350-point decline yesterday on the Nasdaq and a 600-point decline on the Dow. So it's not even what the headline is anymore. It's what basically where the sentiment is anymore. And right now there's a lot of people turning around and say, well, this is obviously a bear market rally. Obviously, right? Obviously. And again, I've been saying this for weeks. Call it what you want, potato, potato, tomato, tomato. The fact is that bulls reclaimed the 50-day moving average and went for a month-long run. That's the facts. I don't care how they got there. I don't care what it's called. That's the facts. And now, the last six sessions, you talked about five from yesterday, five from last week, actually session number seven, one from yesterday and one from today. So far, the bulls cannot get their footing back. And the question again, if you guys remember during the weekend video was, well, was this the top? Was this indeed the bear market rally or was this just an orderly retest of what things to come for higher prices for later? And my whole existence is, don't guess. We don't need to guess. I say this pretty much every single video. Let the price action tell us what happened. And what we saw today was pretty loud and clear. And the reason why I say that if you're a new trader and the most important part is how the market closes, how much emphasis there is, how much institutional money flow there is, especially in the options market. Today was very, very important for the bulls because again, like we discussed last night in the video, what the bulls really needed today, like really, really desperately needed was kind of a gap down, kind of wash out around that 310, 311 area. That never happened. Instead, we got the opposite. And we got the gap up. And I knew right away, there's no way in hell you ever buy a gap up. And we've been saying this for years and years and years. There's no way you ever buy a gap up after selling because you're going to be buying stocks into supply. And slowly but surely, you can see what happened with the Dow Jones industrial average. Let's just use the diamonds as a proxy. You saw the Dow literally, here's the 60-minute view. You saw the Dow, the market opened up and just went straight down. Even the Q's that tried to rally a couple of times, right? They really did. They tried to rally. They just couldn't do it. And the NASDAQ closed on the day. That's not a good thing. When you're down six days in a row heading into today's session, and the most important part is start reclaiming levels that you lost, especially this 318 level. The fact that they couldn't do it is it can't sit really well with any bull going into tomorrow's session. Again, anything that happens in this market. The market is out of its mind. What you think is normal is completely out of the ordinary and vice versa. So nothing really surprises many more as far as price action goes. But again, going into tomorrow is very, very tough. If you're a permable to turn around and go, yeah, I can't wait for tomorrow. Well, which part can you not wait of? Now, yes, are there names for tomorrow you could watch the upside? Of course, and we'll get to that in a second. But if you look at the majority of names that we talked about last night in the video, they're still right at the bottom of the range where they started from last night. The only difference was it was almost like a pregnant pause today instead of a second day violent sell-off, which I really, really wanted, which I really didn't get. But if you look at the charts, you'll kind of see what I'm talking about. Right? Look at the cues. The cues held yesterday's low and basically in just teetering. Again, going sideways after this big move is not a good thing. They're not resting to go higher. They desperately need to take out the previous day's high in which they couldn't do today. And at the same time, they held the lows. It was a very, very odd day. And when you look at the individual names, right, some names are just hanging in there, right? They're hanging in, didn't take out the previous, didn't take out the previous lows, but hey, didn't take out the previous highs either. Look in the video. They report tomorrow. Right? One of the companies that reports tomorrow. You guys remember, they got it lower two weeks ago. Everybody knows they're going to have horrible earnings. They're going to be a shock if they report horrible earnings. They told you two weeks ago, we're going to report horrible earnings. That's why they got it lower. Now, the question is, well, can the video be a byproduct of what technology for the most part has been absorbed from bad news and take the stock higher or are they actually going to treat bad news as, well, crazy as it sounds, bad news and take it lower? Again, we shall see. But you can see here, even before tomorrow's earnings, you can see it's just sitting there on the 50-day moving average. It didn't take out yesterday's lows by a few pennies. But what happens tomorrow? Right? What happens if they do confirm the 50-day moving average? Again, nobody's taking this thing into earnings tomorrow night. But is there a trade? Right? Is there a trade if they start reclaiming back the 50-day moving average to the downside? 100%, right? Look at a name, for example, like Meta today. Right? We talked about Meta yesterday. This is day two below the 50-day moving average. This is one of the actual names that actually went lower than yesterday's channel. A name like Square, which I actually lost 50 cents on today. But the funny thing is, look at Square, right? You've got Square sitting here with right underneath the 50-day moving average. This thing confirms down. This thing is ready to go, right? It's really, really ready to go. So if you look at today's session, and again, I'm a little bit concerned, but a lot of the moves we had today were just very sneaky channels. There was a nice upside pivot today on Tesla in the early parts of the day. The smaller cap names did really, really well today. The Hooses of the World and the KOS's of the World. So it's not an indication of how the overall market structure was today. But if you look at the big picture, right? Netflix continues to go lower. Again, I still think this thing sees 21, 22. There's one more pull tomorrow in the market. Coinbase has held the bottom of the range here now twice. If it confirms, I think it has more room to the downside as well. So again, if you are a bull, you're just not getting that warm, fuzzy feeling in going into tomorrow. Are there names that we could watch in tomorrow to the upside? Sure. And again, this is why we always maintain the point. Try to trade from both sides of the market. So for example, a stock like ENVX, right? This thing actually looks pretty good, right? I don't know how many guys are familiar with the name, but look at the stock. It's gotten rejected here at the five-day moving average three separate times. They came for short-term expiration, right? Short-term expiration of the 2250s. They even went for the 2750s for October yesterday. Tesla, right? Tomorrow after the close is their three-for-one split. Again, for my opinion, I don't think there's going to be any difference for the stock trading at $900 or the stock trading at $300 after the three-for-one split. You're still going to have massive institutional money flow. You're still going to have monster range. Again, at the end of the day, it's still going to be a $300 stock. It's not going to be a $40 stock, right? You're still going to have big, big ranges. The only difference is, quote, unquote, people care more after the split. Don't ask me why. It's not an institutional thing. It's a retail thing. Believe me, the institutions don't care, okay? Whether the stock is 1,000, 1,200, 300, 600. They fall in love with a cold hero. That cold hero is on their books no matter what price there is. So again, again, if you're buying Tesla tomorrow, strictly from the point of it's going to split, it's going higher, well, it's not going to go higher if the rest of the NASDAQ goes lower. That is a pretty important part. However, right? From the technical point of view, Tesla did wake up today and you could make a case. Again, granted, the split comes effective tomorrow evening, right? Tomorrow evening. So you have a full session of people fueling other people to saying, you got to get long for the split. You got to get long for the split. Okay, there were 920s coming in. There weren't some 950 weeklies coming in. The key is for Tesla. Again, there's nothing to do with the split. But the key is for Tesla. If we can get above this five-day moving average right here. You see it, guys? You see this whole little channel here? Remember the last time it got above this whole channel, right? Just look at muscle memory. This is what we're talking about muscle memory, right? You see this candle here at 915? You see this area here of supply? Once it confirmed that, it went to highs, right? This is the same line, same supply zone. If we can just get above the supply zone, it could open up some airspace, whether it's going to be because a split is coming, a Schmidt is coming, whatever you think is coming. The point is technical analysis needs airspace. And if Tesla can get above that level, it's a very, very big if, then it maybe can't supply a measured potential move ahead of the split. So yes, there's definitely names on watching to the upside tomorrow. I will watch Tesla just in case it confirms. I will watch this ENVX just in case it confirms. But at the same time, guys, look how many charts you have to the downside as well. You have Amazon, right? You have Amazon. I still like the square. Netflix looks terrible, right? You got Netflix that looks terrible. Zoom, I think, has another day down tomorrow. Why wouldn't it not, right? If the stock missed earnings, and if everything else gets taken down, shouldn't this thing have one more day of selling? So I'm definitely watching Zoom tomorrow for a second day of selling as well. So we're definitely getting some value. And again, it's very, very tough for somebody to turn around and go, well, the bulls rested. It's not the bulls that rested, right? When you have an inside day after a 350-point move to the downside, after six moves off the highs, it's not the bulls that are resting, right? Just really keep that into perspective. So okay, guys, I'm sorry about this. Got to cut it short. Got to take these kids to practice. Have a great night. Stay blessed. Stay healthy. God's help. I will see you all tomorrow. Take care.