 We finally got the interest rate hike that they've been talking about that was imminent for the last five years. They finally came out and said, damn it, the economy is great. 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. Hope everybody is doing well. So let's talk about today. Today was a busy day. Obviously the big story today, two stories, right? First and foremost, you saw overnight, if you guys remember the last week or so, even two weeks or so, even a month or so, the Chinese stocks were getting murdered, right? Absolutely murdered. The theory was, well, not the theory, the rumor was, well, you know, Securities Exchange Commission is going to delist these things and, you know, they were taking to the woodshed, yet Baidu murdered, right? Murdered for weeks and weeks and weeks and Ali Baba and everything to do with the Chinese market. Anything that was listed, do a listed or even an ADR listed in the States got absolutely murdered. And the yada yada yada, as we all like to say, we wake up this morning, everything is up 20% because the Chinese government basically said, we're gonna do with everything possible to stabilize the Chinese market. That's a good thing, right? Nobody likes chaos, nobody likes anarchy, nobody likes uncertainty in neither of these stocks. And they basically put the notion to bed. They're gonna do everything on their behalf to make sure these stocks are stable and everything basically that they lost pretty much in the last two weeks got engulfed today. So that was very, very bullish. Another thing that everybody was waiting for is was the Fed, right? 25 basis points, I believe that everybody or at least majority of the economists believe that it was already baked into the market. And the question was, well, what was gonna happen next? Were they gonna get more aggressive? Maybe do a 50 or were they gonna panic and not raise rates at all? What was gonna happen? Because what was on the table was seven interest rate hikes over the next year or so. And that's what we got. We finally got the interest rate hike that they've been talking about that was imminent for the last five years. They finally came out and said, damn it, the economy is great. Look at us, $7 a gallon in the gas. Everything's great. Inflation is great. We're gonna raise finally raised rates. Okay, cool. So they raised rates and the initial reaction was, market's going higher, right? Market went higher. And then he started speaking. Powell started speaking. And the one thing that Powell has been doing over the last two, three months ever since like this bearer cycle has started, every time the guy opened up his mouth, he literally put a coffin, literally the nail into the coffin on every single trading day in the afternoon, but today was different. Not today, right? Like I took my son to a Jets game against the Tennessee Titans and that overtime victory. I said, not today. My son laughed at me, not today. So the bulls finally did what the bulls finally needed to do. Let's kind of backtrack yesterday. Yesterday, there was a headline that Vladimir Putin was not really entertaining any ceasefire as of yet. Normally a headline like that would have buried the bulls. Absolutely buried the bulls, but it didn't yesterday, right? This time is different. And the bears were able to embrace that news, take in those, you know, take out in those flutter of bids being hit and took the market back to the highs of the day. And if you guys remember, the one thing I kept on reiterating over and over and over again in this downward cycle, ever since it started below the 200 day moving average, people always ask, well, when is it gonna finally stop? And I kept on saying, two things have to happen. We have to have a roundabout bottom, okay? Which slowly, but surely, as you can see, this little roundabout bottom is happening, but more important, bad news needed to be engulfed, needed to be embraced, taken and moved to the side. And that's exactly what happened again today. So when Powell started speaking, the Dow was up, forgot what the Dow was up, but the NASDAQ was up about 250 points. And next thing you know, this guy opens up this trap and NASDAQ goes red. It could have easily turned around, basically stopped ever, no matter where you were, right? Unless you're trading one share, you're getting stopped, right? There's no way you're holding onto a position. Again, unless you're trading one share, there's no way you're holding onto a position. NASDAQ goes from up 250 to red in a matter of one bar, and you're like, yeah, yeah, I'm good. I'll wait for it to turn around. Okay, maybe, you know, again, tell these stories to people on social media. But more important than that, more important than that is what the bulls did. They stepped up and if you look at, if you look at what happened here, the bulls stepped up. This is one candle, guys. This is literally the bulls going from 336 when Powell started speaking, went all the way down to 328. They talked about an $8 bar, and the bulls started pounding on their chest. The bears got complacent. The sellers got comfortable. The buyers got comfortable. And next thing you know, the market takes out the high of the day and starts moving higher. And in the process, right, did something that we couldn't have done since, where are we? Since, since January the 4th. And that is close above the 20 day moving average. You see this? 20 day rejections. 20 day rejection, rejection, rejection, rejection, right? This is the highest close in the weirdest way above the 20 day supply ever since January the 5th. Now again, are we out of the woods going, you know, are we out of the woods that you could go max size overnight on everything? Absolutely not. Because again, we still need to reclaim the 200 day moving average. But hey, baby steps. That's how round about bottom start, right? Again, we're not bears. Nobody's saying we want to take the market to zero. This isn't Jim Chenos, right? This isn't the other idiot who's screaming about gold prices. Hope everybody dies. What's the name? Shift, shit. What's his name is, right? It's not that, we're traders. We trade long. We trade short. We trade channels. We trade reality. And that's the most important part. And this really, really does prove that everybody could coexist, right? The bull could coexist with the bear. The bear could coexist with the bull. But the most important thing is the common denominator about everything else is common sense and technical analysis. And literally, this is the first night. Again, and nobody knows what's gonna happen tomorrow, okay? But at least this is the first night that the bulls can have a little bit of a deeper breath. Okay, they did not have the ability to take that deep breath anywhere here, right? Because this is all below supply. But this is at least the first time we're able to close above the 20 day moving average. And now, if the bull could continue this process, and again, we don't need to have an update tomorrow. But as long as we don't give back the bars, even if we have an inside day tomorrow and we start building above the 20 day moving average, if you believe in the theory stocks trade from supply to supply, demand to demand, then you have a move, a correlated grind, and hopefully this doesn't happen in one day, but you have a correlated grind going all the way back up to 350 on the queues and going all the way back up to testing at least, right? This 200 day supply where this whole, you know, carnage started in the first place. So baby steps, right? That's the way, you know, we always tell this to traders, to brand new traders all the time, you don't need to know everything, right? You don't need to embrace, you know, somebody's 20, 25 years of experience in your first year of trading. Same thing with the bulls. You don't need to jump up here. Let's take baby steps. Let's, you know, you did a great job reclaiming the five, reclaiming the 10, reclaiming the 20, and if everything goes well, we'll have a two, three, four day rally until we get back into this 50 day moving average. The only thing that could derail this little momentum that we've picked up in the last couple of days, if tomorrow doesn't prove to be an inside day, and then all of a sudden the bulls give up the 20 day moving average, that becomes a different conversation piece for tomorrow night. But hopefully again, and I think I can speak for everybody, I think I'd like to see some buying for the next three, four, five days, just to kind of feel what it's like for more than one or two days. So good news for the bulls. They did a great job. Bad news for the bears. They gave up the 20 day moving average. But again, if you've been trading on the sell side for the last predominantly two and a half, three months, is it really, really the worst thing in the world? The kind of flip gears, take your hat, put it on backwards, and now you're concentrating to the upside. Again, we'll see tomorrow if the bulls can continue this buying spree that we've started from yesterday. So let's talk about today's pivots. Look, the morning was aggressive, right? You saw some pretty good moves right out the word go. And then as you can imagine, things just kind of quieted down. And obviously after pal spoke, everything went red, right? So that was a little bit scary. The most important part, the most important takeaway that I had from today's session was that I think that this is an area of the market that is pretty important, okay? Like I said, bulls did a very, very good job kind of defending levels and reclaiming levels. But the most important part was what the bulls did after the grim reaper, right? Pal, that he literally destroyed the market the last three months with his comments. This time around, they embraced their comments and went higher. So let's talk about it. So four, F-O-U-R, 52-50 needs to build right from the word go. Very, very strong move here all day. So it took out this whole 52-50, 53 level, traded all the way up to this 56 level into the next supply. For this thing to go higher, it's gonna really need to reclaim like 58 to really, really wake up. Amazon, this was a really good move at the open, right? It, you know, went up 17, 18 points. I'm talking about in seconds. This was a huge, huge number. It needed to confirm the 24-1 stock split. It took that out, traded into the 30, 30-10s, 30-13s. I'm talking about in seconds, very, very good move. And then the market just kind of just started sitting there, sitting there and before Pal spoke and after as far as spoke, this thing went all the way down to the 29-60s. This is where I really fumbled everything and I got really disgusted. And anyway, I don't wanna make a long story short, but when the market went red, obviously the best thing to do is always use break even as you stop on the dip. Not this 29-95 level. This is another trade, what the bottom of the range. And I was so frustrated because I watched the market go red and I said, you know what, let's get out of this thing. And, you know, let's get out of this thing, break even a cup of coffee on the second entry. And I was so disgusted because I started watching the market go green. And when you look up, it was 100 points higher. So I'm kind of disgusted to myself on that remount towards the afternoon. But again, the market goes red. Amazon could have been down 100, right? It's easy to turn around and say right now, you know, 2020, well, yeah, it was the right, you know, I should have held, yeah, I should have held for one. Again, if you're trading one share, you could hold, but boy, oh boy, very disgusted to myself, but you know, it is what it is. UNH, good move, again, good initial move on Amazon, but that's second entry, boy. Oh God, I'm gonna throw up. UNH three times rejected at 500, needs to build. Here is UNH, write the 505. We talked about that 505 level, really nice move. Took out this whole 500, 501 level, traded to 505, nice little pop there on UNH. Tesla, you know, big move on Tesla, 825 rejected twice on the 60 minute. The first move was perfect, right? 825 for all you guys who held the entire of the move, 825 traded to all the way to 840, and then it came in. Again, another perfect example of that second entry bounce off the 814 level. They held it, it ran up a couple of bucks, you know, took a little bit of flow, stopped out break even, watched this thing go down 10, right? Which is again, the permanent thing to do is to break even. And then this thing just went bananas into the close. Again, I don't know how many people are trading one shares, but I don't know how you, how you can hold something 10, 15 points against you, especially in the intraday ranks, but whatever, it is what it is. So anyway, you know, good moves, good moves and cumulative on Tesla, but definitely missed the big, big move, especially in the afternoon. So again, I'm feeling a little disgusted, but again, may your worst day be a profitable one. You know, so that's that. So Amazon, nice move there. Moderna, Moderna, nice little move here. 167 supply, if it confirms, can get to 172. Close at the highs. I still like this thing for tomorrow. It's coming out of the bottom channel, took out the 67, closes 69. I still like this thing going into tomorrow's session. And that is it. So look, I think the bulls did a great job. I think you don't need to be perfect. You don't need to be, you don't need to be perfect every single day. We're not perfect parents. We're not perfect friends. We're not perfect spouses. We're not gonna be perfect traders. So you're going to mess things up, but the most important part is if you're gonna mess up, mess up technically, don't mess up emotionally. At the end of the day, let this be a worst trading day. It could be a lot of people could be looking at much worse of situations, but it did set up something for tomorrow that we did not see now for the last two and a half, three months is a potential for a continuation follow through for day three. Guys, God bless, have a great night. And with God's help, I'll see you all tomorrow.