 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 the AccessaTrader.com weekend update show. Hope everybody is doing well. If you are brand new first time here, thank you very much for giving us an opportunity to fully have a brain of nothing but nonsense and hopefully chime in with a little bit of unbiased technical analysis on the next day's potential. So thank you very much. Hit like, share, subscribe, all that stuff they tell you on social media to do. I recently learned how to say all that stuff. So thank you very much for bearing with me and my lack of ability to navigating social media. So let's talk about the market. If you look at the final school board, nothing really jumps off the shift. You have a little bit of decline in the S&P, a little bit of a decline in the NASDAQ 100, four tenths of a percent for the NASDAQ 100 through the week. But the bigger story continues to be that we are just trapped in this. I don't even want to use the word distribution channel, but we're just trapped in this channel. And the biggest problem I've had through September is not the individual setups. The individual setups have been great. You know, Tesla has been strong, Amazon has been strong, Apple has been weak, and the video has been weak. So the individual trades on both sides of the market are actually really performing, like really performing very, very well. The problem is from the macro sign. This is kind of what I continue to talk about is we just can't get out of this channel. We had several opportunities to get out of this channel this week, and we just couldn't do it. Even on Thursday, we had a 2% day in the NASDAQ. Everything was going great, and guess what happened on Friday? We gave it all back. So it's a very, very weird tape as far as continuation. The day-to-day continues to be very, very solid. Okay, again, we always are prepared on both sides of the market, but at some point it's going to get a lot of the swing and position traders very, very frustrated because realistically, if you are a swing trader or an active swing trader and you're using the previous days low as your max pain, well, you're getting stopped out a lot, right, from the swing training aspect of it. So it's very, very important. The market kind of gets out of this range. This past week, we saw the anticipated ARM IPO. Well, everybody else anticipated. I didn't know the damn symbol was even alive till Thursday. But ARM came out. Actually, a pretty decent move. A pretty decent move, gave a little bit back on Friday. It is an ADR, an American Depository receipt. So eventually, you're not going to be able to trade this thing because if you look at all the ADRs that trade, they're all choppy names. They're all very, very choppy names. And eventually, when the Luster dies down with this one, it's not going to be... You'll see in a few weeks or even a couple of months, this is going to be not tradable. It's just the initial hype of all that liquidity came in. But eventually, all ADRs become super, super impossible to trade. All they do is gap up or gap down and just sit there primarily for the whole day. But this obviously was kind of a big deal for the week. You had a lot of companies that had pieces of it like NVIDIA. But the one thing NVIDIA that we kept on talking about throughout the week was, if you guys remember when the first time when it broke the 50-day moving average, it had a hard time reclaiming it. And Friday we had a really nice pivot on Friday in this thing below the 5-day moving average and traded all the way back down Los Mondes Lows. This is a name that does look lower. When you look at a lot of names, they do have really terrible charts, like really, really terrible looking charts. Even the stocks that were strong, they just continuously give it back. Like Microsoft was strong, right? Microsoft was super strong, gave it all back. Amazon, then I had a really good trade on Amazon this week. I bought this thing through the breakout price, a gap of about two and change. And look what it did. It came filled in this whole gap and broke below the gap that level. Apple continues to be, just hit on every single rally. They had some news of delays, I believe in the iPhone 15 on Friday. It didn't really help out its cause. It's kind of sitting at the bottom of the channel here. And this is a name we should definitely watch in the bottom of the channel this week. This thing, if this thing loses the bottom of the channel of August Lows, this thing isn't going to get hit. NVIDIA is the same thing. NVIDIA, this is the lowest close in this whole formation. Now, if you guys remember a week ago, we had this great trade below the 50, stopped at the 50 EMA. Well, Friday it lost to 50 EMA. And now you're looking at another seven points or so for measure potential to the lower Bollinger Band. If this lower Bollinger Band starts to lose, guys, there's not much room you have. You have room all the way down to the August 14 Lows. There's a lot of potential on the video, to the downside this week. A name that I was swinging for since Monday was Tesla. We bought that 66 opening range high stock trade up as high as the 278 this week. Friday it got to 79, it got rejected at 79 twice. And I wound up kicking it out. I think all of us pretty much all kicked it out. Up about eight points to finish off the runner. The only reason why I kicked it out was because the index is closed below the 50-day moving average. That was the only reason. If the queues didn't lose that 72 area that we were talking about the whole week, I probably would have kept it. But it's OK. I look at it from more of a feasible point of view of, you know what? Look, it still has to attack the top of the range. There's no reason to sit for it. In this scenario, we buy back the top of the range and see if it confirms later in the week. And again, remember, there's no guarantees it even does so. The way the indexes start this week, let's talk about it really quickly. You got the QQ queues. The big support on the queues, guys, write this down. The big support on the queues is going to be 369. 369 is the big level going to this week. This represents the lows from September 7th. And that is also the rising 50-day EMA. If any close below 369 in the queues, guys, it's going to be violent. Look at which room we have. You have about 10 points of downside on the queues. On the other side of the spectrum, look at the upside here. It continues to get rejected off this area. It has to close above 378. So as you can imagine, more stocks are opening Monday session closer to the bottom of the range to the top of the range. And like I said in a couple of videos ago, it's not that I'm going into tomorrow's Monday session negative. I'm just looking at more setups to the bottom of the range because that's where the queue is wide. But again, anything is possible. And if the market does rally, obviously Tesla has the best formation out of this whole group. And if the market goes sour, guess what happens, right? And the video has the best setup to the downside. So we are ready on both sides. We're ready to go. Look at the spies. Spies start this week right on support. Guys, watch this level here. Any close on the spies below this 442.5, 442 level could be lower prices coming this week. So it's very, very important that the bulls defend this 442 level on the spies. Or we're going to have lower prices going, potentially testing this bottom range right over here. The big kind of component for this week is going to be the FOMC that is on Wednesday. We had a lot of data this week. We had the CPI, the PPI didn't really move the needle. You have Friday at the Michigan, the Michigan sentiment index. More readings of inflation sold the market. We rallied on the PPI. We sold off on the Michigan consumer, Michigan sentiment index. And here we are, right? We're nowhere better or worse off than we did start the week. Pretty much flat on all indexes. So we have to have an open mind, guys. But again, if you are charting this weekend, you have to take the market from a phase value, especially if you are an intraday trader, a day-to-day trader. You'll see a lot of setups to the downside. And let me give you guys several before we continue with our weekend. Obviously, NVIDIA is going to be my top watch if the market continues lower. Again, you just have a lot of potential here to the downside. NVIDIA already gave back the 50-day EMA. So if it starts losing Friday's channels, there's a lot of room down. Look at AMD, right? We talked about AMD at two areas of interest. We talked about the 105 that went to 103. It lost the 103, went down to 101. Now it's very, very close, guys. Look at the August lows. If AMD starts losing the August lows, again, you can see it's all correlated with the QQQs. This thing can get hit as well. A couple of names I started swing positions in on Friday. Peloton, this is the lowest close in the whole formation to the downside. Obviously, if this thing starts pretty much confirming how all these earnings low plays play out after they lose earnings lows, well, maybe we could have a nice fade this week, but I started a short position this thing on Friday. Same thing with CarGurus. For some reason I call it CarGill. It's CarGurus, same thing. They blow up on earnings. This is the lowest close in this whole formation. Keep an eye on this thing for a potential move lower. AMBA is a name I gave you guys a couple of weekends, a couple of days ago, another earnings low play. Again, this is the lowest close in the whole formation. Watch this umbrella for potential downside moves. Look at Square. Square is very, very close to losing its earnings low as well. Obviously, for any strength in the market, I'm going to continue to watch Tesla. I don't have a position in it now, but if it starts confirming, especially Friday's pre-market high, I think this is going to wake up. Let me give you guys one speculative name. For all you guys who trade these crazy stocks, remember this stock VFS that had this really, really crazy run and went from 11 to 90. It's not that far of waking up. Guys, watch this thing above this channel here. It doesn't necessarily mean it's going to wake up this week, but keep an eye on it. It's starting to go sideways three out of the last five days. There's a green candle, which means a higher close than open. Keep an eye on this thing. If it could just reclaim back the 50 EMA, you might get a push here back into the 50-day SMA. Keep an eye on this thing this week. Again, it's not something that I'm generally going to look at, but I just found this chart and I saw how big of a run it had. You never know if this thing starts taking, especially reclaiming back to 50 EMA, maybe this thing wakes up as well. Let's see, guys. We have our FOMC coming up this week. We have a lot of names closing the bottom of channels. We know where our pivots are to the downside of the keys. We know what our pivots are to the upside of the keys. Now we just have to be mature adults, wait for it to confirm and see what happens next. Guys, God bless. If you are joining us on Monday, please use this opportunity to watch the PS60 workshops. They're actually free for everybody. If you've ever been curious about pivots, guys, it's a free workshop. There's two separate videos, about eight hours worth of data that's breaking down the theory. Again, if nothing else, watch it, see if it's something that you're interested in and maybe apply it to your own training. Guys, have a great weekend. God bless and I'll see you all on Monday. Take care.