 they closed right at the 50-day moving average, like literally at the 50-day moving average, and it really does kind of setting us up for a claim for it. 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 weekend update show. Hope everybody is doing well. I hope everybody is having a great weekend. It's like Christmas, right? Opening day, well official opening day of NFL kickoff today, awesome day, and a lot of you guys, just like me, you've been kind of really looking forward to this in this COVID stage of life, it's like the little things that make us so happy, and I spoke to so many of my friends this weekend, it really is like Christmas for a lot of us, so make sure this weekend, this weekend, this Sunday, definitely enjoy the games, go relax. I know again the pressures of life are incredibly hard these days, just in general, but make sure, again guys, make sure you put in that work, if you're like me, you're probably gonna be on the couch today for a long time. You don't need to sit there listening to every single word the announcer says, no matter what type of trader you are, make sure you have your charts in front of you, okay? The more, just understand this business, and I talk about this all the time, but this business is a game of failure. It's like baseball, right? In baseball, if you succeed three out of 10 times, you're considered a $100 million player. In trading, you succeed three out of 10 times, you're not trading, but the most important part is just understand this is a game of failure, okay? You're going to be wrong. You're going to be wrong a lot, okay? If you're sensitive, if words hurt, if you're a thin skin, I guarantee you won't be trading. I guarantee you, and unfortunately, social media, and again, I don't want to embarrass the platform, but social media is literally become guys that trade three shares, telling guys that trade two shares how big of an idiots they are. And it's like a roundabout type of game, and if words hurt, if somebody turns around and says, the market looks like it's about to confirm lower, right? We'll get to exactly what we're talking about. And you turn around on the internet, you're wrong, man, you're an idiot, man, right? Words hurt, you're soft, right? It's like my daughter's a wreck game yesterday, she had a wreck soccer game. We were up five nothing, and the coach told my daughter to stop going aggressive, okay? We don't want to hurt the other team's feelings. At some point, you got to grow up, okay? This is the stock market. Stocks go up, stocks go down. They're going to go up when you're in it, they're going to go down when you're in it. Get over it, okay? How soft do you have to be that if somebody turns around and says, hey, by the way, if the queue's confirmed the bottom of the channel, we're going to go lower? No, man, you're wrong, you're an idiot. Go kill yourself, settle down, right? You're soft, so forget about trading, okay? Grow the hell up, okay? The market is going to be here. Doesn't make a difference if you're in it or not. Stocks are going to go up whether you're in it or not. They're going to go down whether you're in it or not. The most important part to stop being a little fragile, little fragilina, right? Grow up, look at charts, understand technical analysis, understand that the market does go up and down, okay? Don't fall in love with your stocks. They don't love you. Again, perfect example. Tesla's the most emotional stock in the history of the planet. Nobody loves Tesla more than I do, okay? Some of you guys are so emotional about Tesla that you would sell your kids to be right, right? And some of you guys just literally have started trading Tesla. We've been trading Tesla for the last three and a half, four years, and nobody knows how great Tesla is, both on the long side and the short side. But at the end of the day, it's a piece of paper, it's a vehicle, no pun intended, okay? To get you to point A to point B. The idea that you have to be so emotionally attached and tell another person on the internet of all things that they're wrong, it shows you not how smart you think you are, it shows how fragile and how weak you are. So get over yourself, right? Get over yourself, learn technical analysis. At the end of the day, you're gonna be right, you're gonna be wrong, you're gonna be wrong a lot. But if you put in the work and continuously put in the work, the moral of the story is eventually you'll start to identify the areas that you are technically weak and start slowly to admit them. Other than that, if you don't put in the work, I promise you you're not gonna be trading too much longer, and it's so important to understand your deficiencies and cut them off as quickly as you can. So let's talk about the tape, right? So the scoreboard, the scoreboard is the scoreboard, right? NASDAQ composite down a little more than 4%. The Dow down a little 2%. And I think, if I remember what it was, I feel you don't even remember what the S&P was down. But the moral of the story is the market has been weak. It's been weak now, since it's kind of this blow off top here around the 302 areas on the Qs. But the more notable part about this whole equation is kind of what we talked about the last three, four days. If you've been watching this broadcast since Tuesday, even since Tuesday, we talked about this line in the sand here. This line in the sand here is a very, very important area. There was, again, something that you can't really have a discussion on. Okay, if you hold, you go higher, if you break down, you go lower. That's the moral of the story. That's what technical analysis is. And we're trying to put everybody in a position that you're thinking with your head, you're not thinking with your heart. Again, everybody loves a bull market. Everybody is smart in a bull market. Everybody's taller in a bull market. Everybody's richer in a bull market. Everybody's better looking in a bull market. But again, bull markets, no matter if they stall out or stop, eventually are going to be a victim of gravity. And the first part of this whole move was just gravity. And again, we talked about the day to day. I'm not going out. Again, I've been saying this for the years. I'm not smart enough. I don't know what's going to happen three weeks from now. I don't know what's going to happen two days from now. I don't know what's going to happen on Monday. And we'll get to the technical aspect of it. But what I do know is how stocks behave at certain levels. And the most important part is, if it looks like a duck and quacks like a duck, and walks like a duck, I promise you it's not a rhinoceros. It's probably a duck. And what we saw here in the last several days of the market was a very, very notable. And noticeable area of a big, big buyer strike in the speculation numbers, speculation names that had a big, big run up, you know, the Amazons of the world, the Facebooks of the world, and the videos of the world, so forth and so on. Yes, was there pockets of strength within these dead cat bounces? Absolutely. But we saw the one continued common denominator, stocks started stalling out at very, very specific levels. So our example, even though we held, and again, this was the day I was, 5,000% sell buys going through the next day, with a confirmation, right? With a possible confirmation of the 50 day moving average that never happened. Again, this is the point we talk about, you can be wrong, you can be wrong a lot, as long as it doesn't cost you money. So again, we waited for the confirmation. We didn't anticipate. But slowly, but surely, we saw what happened next. And this is why, again, technical analysis is so important. The queues got rejected off the five day moving average. The five day again continues to be the shortest term sentiment you could possibly have. Again, I don't know why so many people won't recognize and acknowledge that the five day moving average is important, but again, that's a whole different conversation for a whole different time. But slowly, but surely, you started seeing things play out. And came Friday, right? Came Friday morning, first of all, very, very aggressive week. If you traded beta this week, you know how incredibly aggressive was, not only to the short side, towards the end of the week, but it was to the upside as well. Again, interval by interval, trade by trade. Again, we're now trying to figure out what's gonna happen next week. But Friday was different. Sometimes you hear this expression, this time it's different, right? It's usually conversational piece every time. It's like basically you're wrong for a long period of time and turn around and say, well, this time is different. Friday we started seeing, it was kind of going to be different. So we closed the previous day. We closed the previous day right here right at the 270, 56 low, right? That was right on the 50 day moving average. And if you can notice two days before, we closed on the 50 day averages as well, and we gapped up. So we got a gap up, right? We got a gap up Friday morning. The difference between the Friday morning gap up and what we saw the previous day's gap up after touching the 50 day moving average, slowly, but surely, we started seeing, this was very, very, very clean. We started seeing after eight o'clock, lower lows on the 60 minute on every single stock, compared to the day that we went up 650 points the following day we touched the 50 day, things were taking out higher highs. So I turn around and say, this time is different. And if you watched the video on Thursday night, I wasn't gonna put out to the market guides which way I was looking at, right? But I started saying, look, I'm not gonna say which direction I'm looking at, but it rhymes with frown, brown, clown, right? Didn't wanna tell the market guides which way I was looking at. So it was very, very important I didn't put that energy out there. I'm joking around, but it's the truth. So we started seeing lower highs coming in over and over and over again. And when you're getting a channel that's this type, and you're looking at legitimately two pieces of information, again, remember, trading is all about gathering information, gathering data. We knew we got rejected off the five day moving average. We knew we closed on the 50 day moving average and we started seeing lower highs throughout the pre-market. So these are all checks, right? These are all checks that the market it was not going to explode higher. And oh, by the way, if you look at every single chart of beta to Amazon, to the videos, Apple, anything too low, Alibaba, you started seeing lower highs throughout the week. So it wasn't one of those scenarios that you turn around and say, well, I think we're gonna go lower, right? I think we're gonna go lower, but just in case, let me get some longs. I don't think I had any more, I don't think there was been a pre-market time that I've ever put in 100% sell by shorts, maybe one other time before. Maybe I think it was maybe when we had a blow off top several months ago and we had a pretty big waterfall. So Friday's session I was 100 to 800% sell by us. Right, I don't think there was any more, I don't think there was any more room for interpretation. I had all the data that I needed, okay? I made my opinion, now is just a series of events that needed to confirm. And the one thing, and again, I continuously talk about every single video. Again, it's not about being right, okay? Nobody cares, it's not about being wrong. Nobody cares. It's all about being aware of your environment, and being prepared for the worst case scenario. And the most important part, when I was sitting there, I always try to get a little bit of sentiment, right? Just from the idea of where retail is coming from. And I'm looking at a social media outlet and everybody's talking about bears never learn, bears never learn, bears never learn, buy the dip, bears never learn. And I've already gathered all this information, okay? And my opinion was very, very definitive. And I knew right away, there's a reason, guys, okay? When you trade with retail, you're gonna get retail results. And trading is all about putting your opinion and waiting for the confirmation. And once you see, and you could clearly tell, these comments were coming from very, very new traders, like traders that were literally in this tape for the first year or two, again, that never have seen a potential waterfall. And the comments I made it, I was even more, I was even more put into conviction that this was gonna happen. And slowly but surely, we had one of the more aggressive, really, really aggressive waterfall sessions. And the most ironic part was the big pull, right? There was a pull at the open and I caught Tesla. That was the first thing I caught at the open. I fought with it a little bit, okay? I got it once and then it got me back and then I really, really got it back on the confirmation move into rising support. But the big, big move in these stocks, they didn't come, usually when you get a really aggressive flush. It's towards the end of the day, after two o'clock when wills are broken, people lose money, people are tired, especially on Friday. The big aggressive pull came at lunchtime, came around 12 o'clock. And it was ironic because what happened next was even more ironic that we actually rallied back. And this was kind of the line in the sand. And again, if you've been watching this broadcast, we talked about this in nausea for several days. It's this 50 day moving average. And even Thursday's video, I said, look, we get below that 50 day. Again, there is no room for interpretation. We're gonna go lower, okay? If the bulls hold, you're good. Remember that? You're good, you're good. The bulls weren't good. Market broke down, right? Market broke down. They took out not only the previous day low of 270.56, they also took out the low of 269.56. And when I tell you, this was an aggressive sell-off, if you weren't trading Thursday or just weren't around the lunchtime, you couldn't really appreciate how aggressive it was. But if you think about it, the cues went from 270.56, right? The previous day's low. They went down $4, $4.5. You're talking about a $4.5 move within the lunchtime interval. Just really simply amazing. And you're really not going to get a really good understanding just by looking at the 60-minute channel. But look at these candles. I know if you trade the cues and you understand a dollar move is a lot, right? Picture a $4.5, $4 move within an hour of trading where most people went to lunch was pretty extraordinary. And if you look at the pivots, they were just literally one by one. Again, we were 1,000% sell bias. I kept on saying, I don't even want to, I don't even want to look at the long side. There's nothing that I want on the long side. There's zero. There's no reason. Sometimes you get so overly convicted that you can get FOMO, but if you have that overly conviction feeling and you let things play out, usually good things are going to happen. So let's talk about Friday's session, super aggressive, right? Super duper aggressive. Netflix, and again, green to red or red to green, they're not pivots. They're not mental, excuse me, they're not technical areas to get into trades. They're all momentum. So, but a lot of times when you're about to test major levels, you could do green to red trades or red to green trades, depending which way the market's going to set. But it's very, very important to understand that there is no technical safety net. In other words, if you're shorting Amazon green to red, understand they could take it red, right? Take it down to three points and then rally up third. So you really have to understand what you're doing when you're trading red to green or green to red. You have to have a very, very specific area to where the hell to get out, even though I use 60 minute channels to get into my trades. It's very, very important to use the previous five minute high if you're short and the previous five minute low if you're long, because if you get caught on a green to red move, again, there is no safety net, right? Because again, it's not a real entry, it's just all momentum. So every time when I put out, for example, on the stream, watch it for experienced trader green to red, there's always a very, very important area of technicals where it needs to build. And one by one, they started confirming. The other one that didn't work was Boeing. And it was very, very odd because Boeing was, I called Boeing the previous day on the short side, very, very odd stock is terrible yet they held it up. So Netflix green to red, again, on watch note, this is not a pivot. 478.50, 478, if it builds below can flush. Here was Netflix, right? So here was the Netflix flush. Here was the 478, right? 478 and went all the way down to like 483. Excuse me, four, what number did I put in? Hold on, did I put in the wrong number? 478.50, did I put in the wrong number? I might have put in the wrong number. 478, I might have put in the wrong number, guys, I apologize, even though, I think for those who did trade Netflix, I apologize, I think I put in the wrong number, it should have been 485, but if you took the 478, it only went down a couple of points, so I apologize, I apologize about Netflix. Boeing didn't work, actually didn't give you a second entry. 157, if it builds below can flush. It only traded down to like 156.40s, didn't make it, okay, didn't quite make it there. And ironically, Alibaba didn't even confirm, not even close, but slowly but surely, you see all these names, they got murdered. Amazon 3170 support, if it builds below can flush. Here was Amazon, pretty aggressive move. So here was the 3170, right? 3170 got just destroyed, went down to 3083. NVIDIA, again, green to red is not a pivot, blah, blah, 46 if it builds below can flush. Here was NVIDIA, right, one by one. So here was the 480, here it is, 486, got down below 486, went all the way down to 475. Big move there. Apple got smoked as well, 212 big area of support, if it builds below can flush. And that first move on Apple, it was like a flash crash, it really was. If you look at Apple, here was the 412, right? Excuse me, held the 112 several times. See this channel here, 112 here, 112 here, and it traded right to support at 110 very, very quickly. This becomes obviously a big area going into this week, this 110 area, so we have to watch that as well. Facebook 26650, if it builds below can flush, right? Here's Facebook, here's the 26650, that was a previous candle, went all the way down to 262. Pretty big moves, and considering this came, considering this came at lunchtime, it really did catch a lot of people by surprise. Again, in my notes, where I'm gonna give this more, the bears every opportunity to confirm today, if we still don't crack by mid-morning, then we'll start looking at some long-term ranges, but I wanted to really give these bulls, I really wanted to give these bears every opportunity to succeed. This was pretty good, I had a good trade with Tesla. 375, it builds below, can flush. Again, experienced traders, only not every single trade is for everybody, so here's the 375. Let me show you the pre-market. Again, my e-signals still messed up from the split. So here's the 375 right here, and you can see this candle, big, big move, and it stopped right, tad of 360, which was a very important level because that's the bottom here. You see this triple bottom here? One, two, three, four, excuse me, quadruple bottom. So this 360 level becomes very, very big. And again, I know you guys are emotional. I know it, man, from both the long side and the short side, Tesla's the worst, Tesla's the best, just trade the price action. Again, you don't need to go on the internet to tell somebody they're wrong. You sound like a fool, okay? You sound like a two-year-old, enough, really. And the worst part of it is you're telling an experienced trader you're wrong at the worst level that you could possibly long or short. So again, we love Tesla, right? We love trading Tesla, long side, short side. Elon Musk came out and said some big announcements coming. The funny thing is after he said the big announcement came, they actually sold the stock off $8. Again, everybody gets the whole battery event. It's cool, that's great. But again, price action pays much more than opinions. You see this whole area here? This is a huge area here, guys, going forward. Everybody see it? Right here, this whole area here. This thing starts building below this area. Then Tesla, I don't care what the battery day and the go to Mars and this, that, the other thing. And again, I love Tesla. I trade it both ways. But if we start losing this range here, we're gonna test the lows of September the eighth. So again, I understand that you guys love Tesla. I get it, I love it too. But it starts losing this range. Again, held once, held twice. But if it doesn't hold the third time, this is at least the $30 waterfall in the stock. So we have to be definitely prepared for that. Tesla was good, excellent, perfect on Amazon. New lows, new lows. And again, this is where the selling, so we literally got that first poll, right? We got that first poll and some names. Now we said, look, we need to see what happens next. And this was the big number, right? Any close under 270.50, it's a sell signal macro. That sell signal came right away and we traded down to Tad under 267. So really, really big poll there as well. Amazon next stop, 311, they destroyed. If you go back to 311, went down to 3083. And I said, there's the flush. There's the flush. Again, oh my God is right. When you get a $4 poll on the Qs, I think it's pretty good saying, oh my God. And that's it, and that's it. So I think here's the tricky part kind of going into this week. So you gotta give the bulls credit for one thing. They could have completely died down after they broke 50 day support. They could have completely rolled over and died and said, you know what? It's Friday, who cares, we're tired. Let them, you know, let the bears have their ways with us. But you had a huge rally, really, really big rally off the bottom. And the most amazing part is, they closed right at the 50 day moving average, like literally at the 50 day moving average. And it really does kind of setting this up for a coin flip, right? A really big coin flip going into a Monday session. And, you know, as much as I had conviction for Friday's section, I can honestly say I have no idea what's gonna happen on Monday, okay? And, you know, I put some longs on the feed. I put some shorts on the feed. Again, you have to be definitely prepared for both sides of the market. There's definitely some good looking setups, both long and short. So for example, like a workhorse, right? Workhorse actually looks pretty good, right? It held up very, very well. And if you look at the 60 minute channel, if it starts, you know, taking out this whole channel here, maybe it goes back to the highs. So workhorse looks good. Peloton, right? You know, Peloton had a big run, right? They sold the damn thing off, okay? They closed it right at the 10 day moving average, at the 10 day moving average confirms it has more downside. So there's definitely plays both to the upside and to the downside, but this is the one day going into tomorrow's session, I can honestly say, yeah, we could rally up 500 points. We could sell off 500 points. Like I have no idea, but you know what? That's okay, okay? We're not being paid and congratulated for having an opinion. We're being paid for having that opinion confirmed and see what happens next. So the idea that, like most of us, and I speak to all my friends all the time, we've been doing this for a long time, most of us have no idea what's gonna happen on Monday, okay? And that's okay, okay? And that's okay. And I am pretty certain to say, I'm gonna let everything play out in the first half hour. More chances than not, I am going to start my day probably at the first candle of the day at 10 o'clock and see what confirms, okay? Because again, for the bulls to get really, and these are kind of the numbers for the week and you wanna really pay attention for the numbers, any close on the queues above 275 is bullish, or at least the buy signal, bullish would have to clear out this whole supply here, but at least a baby step going bullish, right? So if we close above 275 on the queues, right? That's at least a buy signal. If we close under 270 on the queues, that's a sell signal. So you really don't have to fight with anybody on the internet saying buy the dip, sell the dip, whatever the hell you wanna do, right? You're an adult, okay? These are the numbers, these are the facts. You could take these numbers and have useful guidelines where you're next area of placing your bets, or you cannot, right? But it's up to you, it's your dime, your dance floor, everybody's an adult. Again, 275 bullish, 270 bearish, yada, yada, yada. It's all good. Guys, have a great, amazing trading week. Enjoy yourself, smile, okay? We only have one life, folks, okay? We don't get any do-overs. So the most important part is be a friend to yourself, be a good person, learn to smile, learn to actually like people, easier said than done, but that's the point. Guys, God bless, have an amazing Sunday, and I'll see you all in the field tomorrow.