 It's chart by chart, it doesn't make a difference, you know, if the market does have a day to sell off tomorrow, it's not going to make a difference. If one goes down, they won't go down, right? 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 Access a Trader.com Nightly Wrap-Up Show. I hope everybody is doing okay. Hell of a day, right? Hell of a little sell-off we've had here. Going into today's session, we talked about how that bounce yesterday, you know, really did us no favor today. There was no really technology names that I was sitting there today, I go, wow, I got it on. Because again, when you have a deck, well, I don't want to call it a dead cat bounce. But when you had a bounce yesterday, the initial test of the 50-day moving average, it left a lot of charts in the middle of the ranges. So last night's focus was away, right? Away from technology, especially to the long side. And we talked about names, you know, that we talked about names, other names, right? You know, names like Caterpillar that usually again, you know, you wouldn't look at. They were very, very aggressive names, you know, names like Oil Names, Oil Names had a second run before a pre-aggressive reversal. And we talked about yesterday, the banks, what was the last time the banks had a two-day run? And again, so everything started slowly butchering, souring, right? Very by little, you could see it over and over and over again. And the names that were weak yesterday, the technology names that couldn't rally, it had that, you know, pretty good aggressive snapback into the close because the queues held the 50-day moving average starting getting weaker and weaker and weaker. Now the question was, well, what was going the Fed kind of give us some new clues, right? They've been talking about interest rate hikes for three years. And every single time they're about to do it and they even announce a day they're going to do it and a month they're going to do it and the second they're going to do it, all of a sudden the game plan switches, right? So every rate hike that was supposed to be imminent for the last three years has been pushed back. And kind of here we are now. So there was a lot of weakness initially today in the NASDAQ. You could just see it. NVIDIA was super weak, you had Facebook super weak, Apple was reversing, more put by and coming, Amazon never really rallied. We talked about Amazon yesterday in the close, even beyond, right? Remember that chicken headline that we talked about last night? Again, who the hell is walking into a Kentucky fried chicken, okay? And ordering fake chicken. I'll wait. We'll talk about the pivots in a second. But the most important part was what was going to happen with the Fed? And the Fed came out basically of every hawkish stance and they're saying, well, expect another rate hike, right, well, excuse me, a rate hike in March, okay? We'll shall cease at the blind man, okay? This has been going on for years and years and years. So until we actually get a rate hike, their only dude is literally talking about a rate hike. But it got the market nervous. It got the market jittering. Obviously, the whole COVID thing is not helping anybody out. Everybody knows somebody who knows somebody who knows somebody else, including themselves that it's probably sick from this thing. We all agree, probably you're not going to die from this thing. Again, who the hell wants to be sick? And yet everybody's sick. So what happened today after the Fed got really, really aggressive, right? You could start seeing really big money being put down on the option side and the put side of a lot of your favorite technology names. You had NVIDIA, when NVIDIA was at 293, 293, they were coming for the 275, 270 puts out of nowhere, right? Short-term expiration. When the video was taking out yesterday's channel below this 283 level, they started coming for the 275s, very, very aggressively as well. Amazon, right? They just never rallied, just never participated in any rally here in the last couple of weeks, finally closed below this whole macro range. Again, this is not a good thing, right? Again, we all know, we all agree that Amazon's going to be at 5,000 one day. It's probably not going to be at 5,000 tomorrow. That's the most important part is what we can see and we can catch on day to day. That's the one thing. But the craziest part about it is, I saw so many stocks. Again, tonight, I could have easily, if you did your research tonight, right? You could literally, any stock you want, right? Any stock you want that closed below rising daily support, you could put it on your watch list for tomorrow's day two selling. Now, the question is, is there going to be day two selling, right? Or at least aggressive selling continuation from today's move? That's the million dollar question, right? Nobody knows. Is it possible we get a dead cat bounce tomorrow? Because again, you got a 3% decline today on the NASDAQ 100. That's kind of a big deal. 3% on one day is a big deal. And the most important part is, which stocks are going to continue to go lower? Now, if we do have a dead cat bounce tomorrow, I have zero, absolutely zero interest on the long side. There's not a chart out there that I'm going to turn around and go, wow, this thing looks really, really good when you have the masses looking like this, right? And I looked at a chart, like for example, like Netflix, Netflix is approaching its 200 day moving average. Forget about being rejected off the 50, this, that, the other thing. This thing is approaching its 50 day moving average. You have Facebook that lost its 50 day moving average. You have Apple, who's been the pillar of strength, closed literally right, right? Closed literally right on its upper trend line, okay? If this upper trend line loses, we started seeing really big aggressive 170 short term expiration in Apple. So if Apple starts leading the way, you know, this thing, you know, the market can really start escalating if you have rising rates and you have, you have a correlation disconnect if technology moving lower. You've got names, for example, like Microsoft, I mean, look at this move on Microsoft approaching really, really exaggerated support here. So again, it's going to be very, very important for the bulls tomorrow, especially if we get a washout at the open, if we get a gap down, the bulls really need to reclaim, right? They really need to reclaim macro levels and if it's going to be, if you're going to get a reversal tomorrow, it's going to be a very, very big if, but if you are going to get a very, very big reversal tomorrow, we have to have a down open. We have to have a down open, throw the baby out with the bathwater. You want to make sure that retail is screened and no masks, right? Hanging the white towel is saying, I don't want to be in anything, sell my stocks at every single level. I just don't care. That's where you're going to get your reversal. The worst thing we want to see, if you're a market participant, especially on the buy side, right? If you're a permable, the last thing you want to see tomorrow is a gap up. Okay. I'm telling you, the last thing you want, you're not going to get a gap and go after this type of sell-off. If you get a gap up tomorrow, there's a high probability whatever stock you're looking at is going to get stuffed right at 60 minutes supply and reverse course back to the downside. If there is a bullish type of dead cat bounce tomorrow, and again, that's a very, very big if, you're going to need a complete washout tomorrow, complete, aggressive, really, really big amount. I'm out of the market. Forget about the market. This market's the worst, right? That's the feel, right? I don't want to use the word capitulation because you can't be in a bull market and be in capitulation, but you want to get people who bought stocks at really, really random prices and got caught really, really off-centered, right? With their pants below the ankles, those are the ones you want them to kind of quit and say, I'm done with the day. I don't care what happens. Let me sit on the sidelines. Cash is a position. That's what we're looking at tomorrow. But if we do gap up tomorrow and we start rolling over, right? Get rejected of 60 minutes supply. Start rolling over. And again, guys, you can go literally chart by chart. It doesn't make a difference. If the market does have a day to sell off tomorrow, it's not going to make a difference. If one goes down, they all go down, right? So Amazon looks terrible. Netflix looks terrible. Facebook, right? Facebook looks terrible. Rivian looks like it really wants to test its IPO lows, right? That looks terrible. There's literally wind on the casino space, first close today, below this whole range here. That looks terrible. We're talking about Intuit. Look at Intuit. Right? Look at Intuit. Usually a name that I wouldn't look at, but again, look at this first close below this whole rising support. So there's a lot of value tomorrow on the short side. Again, you don't need to be too creative if we'd have another wave of selling. Just take your favorite stock. Make sure it takes out today's lows, right? Make sure it takes out today's lows. Let it put in the bottom, or excuse me, let it put in the low, right? Put in today's lows. Let it rally back, and that opening range low, if it takes out the new low, that's the guns blazing. That it will be another wave of selling, and this is where you can capture some pretty good alpha on the way down. So it's going to be a very, very important day tomorrow for the bulls. If you are a bull and you're looking for a reversal, you really need a gap down and then kind of wash red to green scenario. If you are a perma bear, you're praying to God for a gap up, stuffed into supply, 60 minutes supply, reversing course, going green to red, and start taking out today's range. That's it. Usually, I know it sounds funny. It says we're either going to go up or we're either going to go down. But yeah, but that's what the case is, and it all depends which way we're going to open up tomorrow. If the futures are good tomorrow, it's a sell bias. If the futures are bad tomorrow, we're either watching opening range lows or reversal back to the upside, red to green for a dead cab out. So we'll see. We'll see. Sometimes you have a game plan that's one-sided and you want to see everything confirmed. Tomorrow, you're literally seeing a possibility on both sides of the market kind of wanting and maybe getting what they want. So let's talk about today. You had some really, as you can imagine, some really aggressive selling today. Again, we talked about last night how technology just wasn't in bloom. We were talking about the caterpillars of the world and stuff like that. But there wasn't a case to be made about how, quote, unquote, strong. There was no strength in technology based on last night's bounce off the 50-day moving average. So these were the big levels on Amazon. The most important part of Amazon, you can see the 3320s, 3312s. This was 3302, excuse me, I'm dyslexic sometimes. Amazon's putting in its lowest close in this whole formation. This is the lowest close in this whole formation here. The last piece of area you have is roughly around the 3270s. If Amazon starts, again, if Amazon gaps up tomorrow and starts putting in, taking out today's channels on the low side, there's a lot of room down. There's definitely a lot of room down, especially if we have another wave of selling that looks really, really good. Amazon got hit pretty hard here towards the end of the day. Caterpillar 219 needs to build. Ironically, caterpillar, if you talk about strength in the market, that's where the strength of the market was today. Caterpillar got above the 219 level and went all the way up to 223. Congratulations. I know some of you guys traded this thing, not really my thing, but congratulations for you guys who did. Citrix got nowhere near $100. And then they started coming for NVIDIA. They started coming for NVIDIA, especially in the afternoon, very, very aggressively. First they came out off that 287 level, got it down to 285 and changed, snapped it back, but the key was here, that 283 level, that was yesterday's low, if it confirms you can see 278. NVIDIA got absolutely smoked really, really hard. It took out this 283 level, I thought it was going to stop at 278, went all the way down to 275. And now this whole bottom range here isn't playing for tomorrow, as you can see here. How many times it held this bottom range. So a huge move down on NVIDIA. The initial game plan today on Tesla was, if there is a week open today, a wash into the five-day moving average for a bounce back, that five-day wash was like after the world was imploding after the Fed, that was zero interest, at least for me. I was too scared to take any bounce on this thing. The worst part of it is I didn't even take the upside move in Tesla. There was a pivot here, 1156, I didn't even take it. I just wanted no part of the upside. It went up like $10, $11 before a massive, massive reversal in Tesla. Adobe got destroyed right from the word go, 538 if it builds below, it can flush. Look at Adobe, got massacred, absolutely massacred today. Got downgraded, traded all the way down to 514, Caterpillar, blah, blah, blah, take on the way up. Beyond was great. Beyond was actually pretty good. I just wish I had more liquidity. This is now an active swing. Last night we talked about they announced a deal with KFC to put their meatless chicken in Kentucky Fried Chicken. Correct me if I'm wrong. If you're going to Kentucky Fried Chicken, you want that nasty shit, right? You want the shit that gets you a cholesterol 2,000 points where it's supposed to be. You're not looking for no healthy chicken. The whole PR didn't make sense to me. Anyway, this was definitely the move, one of the bigger moves, 63, 60, if it builds below shots to go red. Again, this is an active swing, guys. There is no reason to be buying this stock. Everybody buys a stock now. I just don't get it. Anyway, it took out the 63, 60, closed right at the lows in 58s. I think this thing goes lower until this thing starts, there's no catalyst to buy this thing. I just don't see a reason why this thing should be bought. The PR got sold off very, very quickly. 63, 60s got sold, confirmed it's 63. It sat there for like an hour and then finally just absolutely collapsed. Again, everybody, everybody. I hate Facebook. Not hate Facebook, but I dislike it. Initially, I took a short of this thing. It goes down like a dollar in change and then some news that comes out. Some news comes out. I covered something into a wash. Some news comes out. It stops me out, break even on the balance. It runs up $2 and some fake news, yada, yada, yada. You turn around and it loses the 200-day moving average again. I looked at the close. This thing is down 7 from the 200-day moving average. Anyway, it is what it is. Qualcomm, not a big move, ran up about $1 off at all-time highs. As you can imagine, everything got sold off after that as well. Tesla, again, this is, you know, leave this thing alone. Anyway, here's my comments. Here's comments on Beyond get down to like 30% to 50%. This is at 61. Now it's at 58. Everybody should be down to like 10%, 15% on their runners. So a really good move there. The video is getting slammed next week's puts coming in for the 114, 270s, 79.50 next stop. It traded down all the way down to 75. Got absolutely manslaughtered. And that's it. And that's it. So going into tomorrow, again, if you're a brand new trader, it might be challenging. Okay, it might be challenging. There may be a lot of whipsaws. If you are fairly new to training, you might want to sit out the first half hour. Okay, let the market kind of develop, you know, develop some sort of personality. If there is going to be a DebtCat rally tomorrow, you're going to see it, right? You're going to see it, especially after a wash. If there is going to be another wave of selling, you're going to see that as well. So if you are brand new to trading, again, sometimes it's good to kind of digest, take a step back and just kind of appreciate the moment, kind of appreciate what's going on in front of you. So next time around, you're mentally prepared for it. Other than that, for all you guys who are experienced, should be a pretty good day. Should be a pretty good day. Let's see what happens exactly. Worst case scenario, we'll see if there's a theme develops after 10 o'clock, but most important part is let the trades come to you. Guys, have a great night, everybody. God bless, and I will see you all tomorrow. Take care.