 Right, we all have a choice as traders. Wake up in the morning and jump on anything that moves or be very, very patient. Think about your longevity. Think about the long game. Think about where you want to be or even if you want to be doing this in the next five to 10 years and your answer should always be simple. 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 theAxisTrader.com. Nightly update, hope everybody is doing well. So let's talk about the market. Couple of good things that bulls did okay today. I think that's the best way of saying it. It wasn't good, it wasn't bad, it was just okay. We've been trading kind of in this tight channel now for the last three or four days, really, really big, good, constructive move up digestion and that's kind of where we are. We're in this kind of holding pattern and what I like what the bulls did today was, we started going lower and again, remember the word lower doesn't mean we're going down. It just means sometimes you need a back test. So I like the fact that we came in a little bit today, we touched the 10 day moving average, held it perfectly and reclaimed it, right? That was good. I like the fact that IBM, and yeah, we usually don't talk about IBM and there's a reason why. It feels like IBM topped their quarter today and it feels like they haven't topped their quarter since like 1826, okay? This is, I don't remember the last time. Matter of fact, if you look at the charts, you'll see. Here's a quarter that got it lower, right? Here's another quarter that got it lower. Here's another quarter, right? I'm guessing somewhere here. Here's another quarter got it lower. So it's good, right? The NASDAQ held, the Dow Jones industrial should be held, should be held by IBM because they beat their quarter and there's a pretty good way on the market. But there's a lot of things that kind of, if you look at the market today, it's very stale. It continues to be very stale. We're kind of in this holding pattern and maybe Netflix that comes out with earnings tomorrow, will finally get this market moving in one direction or another. At least right now, we know that the bulls have held serve, right? We also know that the sellers are very comfortable at these levels. If they weren't comfortable at these levels, then we'd be all the way back down to start filling this gap that we reclaimed the 50 day moving average. So there's definitely a lot of positives that if you are a longer term bull that you have to feel very, very good. If you're an intraday trader, then all of us know the worst kept secret in the last several days, the action has been very, very stale. And this is just the reality. If you look at any one of your favorite technology names, and granted they have this marvelous run and nobody is taking away from anything they've done for the last two weeks or so. But if you go one by one and see where the money flow is right now, it's kind of on the sidelines, right? Amazon had this monster pivot today. We'll get there in a second. Had this outrageous pivot today. And we discussed this kind of on the weekend update and did absolutely a 360 complete full circle at the end of the day. Google had this really, really pretty good move here right at the word go, right? Had this nice $7, $8 pop and kind of came back in. Tesla did some good things to it, right? Tesla came in successfully tested the 705 level. And I'll show you kind of a plan that we had in the morning, held the 705 50 day moving average and you know, close above that. Now the question with Tesla should have even got down to this level in the first place. Again, there's a whole big news this morning talk about people, something about the driverless car, it crashed and blah, blah, blah, there's an investigation, who the hell knows? But the point is, if you look at the dynamics of everything that's going on in the market, you really have to be very, very creative in finding some good value. And honestly, I don't think that's our job. We actually, we talked about this in pretty decent length on the weekend update. And if you are, you know, if you are one of these adrenaline junkies and you decide to, again, close your eyes to the fact and say, look, look, I don't care that the market's open. I know there's action. I need the action. I need the juice. Well, you kind of know what you did today. And let's be honest, unless you were in a stock like a FUTU that had a really, really aggressive day, it's very, very tough to turn around and say, well, here's where the aggression was. Here's where the value was. I'm very, very happy about this. And this is where I think is going to happen tomorrow. And if you go through a lot of charts, again, I really, I go through a lot of charts every single night and I'm pretty thorough. Again, you do have to be a little bit more creative. And I do think tomorrow, for example, Netflix comes out with earnings. This is the first release from the beta space. We're the technology space. I do believe they'll kind of set the tone. If you remember last quarter, the Netflix was the first one to really set that really great tone, right? I mean, really, really great tone. They had a fantastic quarter. You had growth in all different parts of the world and yada, yada, yada. The stock has not done anything, right? Like absolutely anything since the last earnings release. Is it possible to give us a trade for tomorrow running into earnings? Yeah, why not, right? And if you look at the 60 minute channel here, you can see it's rejected here several times. Maybe it does give us a trade into a run up into earnings. Because again, if you look at the macro channel, right? It starts accumulating these levels. Maybe we can get a push into the 570s. Again, we'll see, right? We'll see. There's really not a lot you can turn around tonight and say, well, this is gonna happen. That's gonna happen. Financials still continue to be good, right? If you look at Goldman Sachs reported last week, when sideways, you know, listen, maybe if Goldman Sachs starts getting above, starts getting above the 414 highs, can this thing spike up as well? Yeah, I guess, right? So this is kind of where we are right now. We are in the world of slim pickings. And if you are one of these kind of like social media junkies that relies on social media for your fantastic ideas or jump on everything that's gonna move, then you're gonna find yourself like a ginsu knife. You can chop yourself up and you're gonna realize after the close, every single day that maybe the value that you thought subconsciously in your mind was actually not there. So we have some work, definitely have some work to do, but that's kind of the whole point of we talking about, you know, waiting for your pitch, playing the premium hand. You don't need to trade every single day. Like today, like here's my day today, right? I took a couple of balances today on Tesla, one was successful, one was not, right? Then I scouted a couple of bucks on GameStop and almost took out macro, blah, blah, blah, blah, but it didn't. And that was kind of the end of the day. And if you look at today's action and you really dive into it, unless you're trading the Bangladesh stock exchange or some cryptic world that the Dolecoin or the Parakeetcoin or the Fishcoin lays on, then you kind of had probably the same experience. But that's okay as well. And again, we always talk about the long term, right? And having a long term playing the long game instead of having a short term view being an adrenaline junkie and trying to catch something today. Again, it's cool catching a trade today but it's much more important to be mentally and fundamentally prepared for tomorrow. And it's much more important because you know you'll get your value day. Is that value day gonna come tomorrow? To be determined, right? We don't know about that. But the good news is, as long as you are not, and I've used this term a lot, as long as you are not prostituting your money, I think you're going to be fine. If you're sitting there throwing caution to the wind and start putting everything on deck because some guy on social media saying it's going to go higher, it's going to go lower, then you know it. You don't have to even raise your hand. You know it when you're sleeping at nine, you're about to put your head on the pillow. You know what you did today. And everybody is looking at the market the same way. So if you're looking at a stock like Apple, you know it did nothing today. It held pretty much pretty good relative strength and it does look very, very good. Like it's about to come out of a channel and maybe they do run it up ahead of earnings. But you kind of know, right? It kind of know it really didn't do anything. A name like Swear has been strong, has been tied into Bitcoin and Bitcoin's been kind of moving down in the last several sessions and so it hasn't really done anything as well. So you're having a lot of names, even a name like Microsoft had a really, really great run in the last four or five days hasn't done anything as well. So we have a choice, right? We all have a choice as traders. Wake up in the morning and jump on anything that moves or be very, very patient. Think about your longevity. Think about the long game. Think about where you want to be or even if you want to be doing this in the next five to 10 years and your answer should always be simple. You like to trade, but you don't have to trade. You want to trade, but you don't need to trade. And that's kind of the psychology going into every single trading day. If you are getting that hand and you're getting that hand to the Queens, the Jacks, the Kings of the Aces, you know what's possible, right? So there's a macro channel, for example, at any point coming up on Tesla whether it's the long or the short side, I know I'm gonna be both hands in, right? Whether the long side, right? There's a sneaky channel here and at least today we put in a definitive bottom, okay? Well, excuse me, a definitive trading bottom that if it confirms in the next few days, you can see where your measure potential is. Even a name like NVIDIA that had a really, really big run, you could see it, right? It got tapped out, it got tired. It had some news today that their deal, their arm deal might be up in the air. It sold off a little bit. When I say a little bit, I'm obviously tongue in cheek gave back $22, but at least here it's giving you a double bottom here and you say, well, look, if the third time's the charge that they start confirming this channel, can this not go lower as well and give you another 11, 12 points at a 10 day moving average? Absolutely. So again, we're on a holding pattern. We're in a wait and see situation. The market's not along. The market's not a short. It's kind of there, digesting information and you can just see that by the NASDAQ 100. You could see how tight this channel is. Today we held the 10 day moving average. That's a good thing, right? It's an absolutely good thing. The only difference, the only problem is we got rejected off the five and you can see how tight this channel is. So something has has to give. We're either going to lose the bottom of the channel here, which we obviously know the area of reference is 335 level is gonna be super huge if the market decides to pull back and if the market decides to rally, well, we need some sort of catalyst. Maybe the earnings season will finally give us a next push higher and hopefully Netflix will start giving us that push for tomorrow. So we'll see what happens. So again, when you look at the pivots today, you could see we had a pretty aggressive game plan today on Tesla and sometimes you just putting in a very, very clean pivot that say, hey, if it takes out this level, it should go higher. If it takes out that level, it should go lower. Today I decided to kind of get a multi-layered game plan on Tesla and obviously the big number for today's channel was that 750 level. Obviously never got there. And here's where that there was a two-sided trade in this thing. Again, some of you guys, I know took the 720 breakdown to the short side. I know some of you guys took the 705, 707 level back to the upside. So it was something was there for everybody, but this wasn't one of those clean trades that every single trader took part in. So Tesla again, this obviously never happened. 720, congratulations for you guys who did took that trade into 720. It went all the way down to actually the 705 level and you'll see in a second, I actually put a different price up here, but I actually did not take the short side. I took the upside to that 705 channel. And again, they did reclaim that 705 channel on the close, close somewhere around the 714 level, but it wasn't without a really, really big fight for the Tesla bowls, but at least you have plenty of reference now, both to the downside and both to the upside of what potentially happens next. eBay just died out at 65, did nothing. Gilead did absolutely nothing. You can tell this is where we kind of were. Envex had a late day surge towards the end of the day. It traded up to like a little bit less than 220 and never confirmed everybody came close. GameStop, we actually took off the opening range high of 72. The funny thing is I actually made some sales around 75. Excuse me, I'm sorry, in the 74s, it stopped at 75. It was basically the high of the previous channel. It just kind of died on a vine. MITK, I wasn't watching. What was MITK? Wasn't watching, I still like this MITK. Guys, watch this MITK for tomorrow as well. It kind of held up here. I'm actually gonna put this on our watch list so we don't forget, but keep an eye on this MITK. I still like this thing. This thing starts reclaiming this top of the channel here. It could go higher, but obviously you can see. Nothing really, not too many things. This was huge. Congratulations for all you guys who took Amazon. Amazon and Google were really, really big. Amazon 3408, 3410 needs to build. Again, here's the problem with Amazon though. If you missed that first move, right, and here's the first move, right, it took out that 3408, 3410 level, put up a $30 can, there was nothing wrong with it. But if you didn't catch that move, look at the 360, right, look at the 180 that Amazon did. It ran up like 30 points and then it died like 30 points. So, you know, crazy action there. Google, Netflix did nothing, never gave us a second entry. Google 229, 2297, 2300 put up about a $7 candle that exactly the same thing as Amazon. Take on the way up, take on the way up. Again, yeah, so this is where I kind of switched the, I switched the, I switched the bounce. It was actually 705, that's where I got along my first bounce. Yeah, that's that. So, DVACs never confirmed for a second entry. Yeah, and I said, listen, take some sales on the way up, use break even now as you stop free runners. So again, this wasn't a premium deck, okay? Nor do I expect tomorrow to be a premium day, but again, if you are a professional trader, where you're aspiring professional trader, as much as you want those $25, $30 candles. And again, going back to two weeks ago, who didn't love NVIDIA, who didn't love Apple, who didn't love Amazon, who didn't love Tesla, but now it's time to be an adult, right? And I've been saying this, distribution, rest, whatever you wanna call it, usually takes place for three, four days. Tomorrow's day four, okay, and maybe something has to give. We're either going to lose the bottom of the channel on the cues and obviously then we'll start going sell bias, or if the market starts building off the previous days lows, which were today on the cues, maybe we can finally start bursting above the linear regression line. We'll see, we'll see. The point is, let the market dictate to you what your next move is. Don't sit there, try to guess. Believe me, guessing is a very, very terrible and a very expensive habit. Guys, God bless, have a great day, and I'll see you all tomorrow.