 Guys, write this down, 280 is the intermediate double bottom right now. Is it possible? 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, a nightly update show. I hope everybody is doing well. I hope everybody had a good trading day. We'll get into the particulars in a second. If you are new to the channel, welcome aboard. If you could be so kind, subscribe so you know exactly when our videos are uploaded. Like the video to always help out the channel so we can try to help you in a non-unbiased way. And that's kind of what we try to accomplish every day. So let's talk about the tape, right? Last night we talked about the jobs number, yesterday's move. We lost basically half the jobs number, excuse me, not the jobs number, it's getting a little late in the day, sorry about that. We gave back half the drone power rally, right? The drone power rally on November the 30th had this whole big move in Gulf two weeks worth of selling, to follow through, to lose its range, to go back yesterday in half a bar. So what happened today? If you watched last night's video, and again we'll get to the individual pivots in a second, very, very strong day, we were ready for the sell off, right? We were ready for the sell off, something just felt, you know, something just felt not good, right? That's the best way of saying it. It didn't feel good. We lost yesterday the 10-day moving average on the Q's. When we looked at the spies yesterday, we lost the 10-day moving average on the spies. And now we are pretty much, we gave back pretty much about 90, 95% of the power rally. And now the question is, what happens next? So this is where we, you know, this is where we put on our logical hats, right? We put on our logic hats, and we see, and we let the market dictate to us what happens next. So here's the levels that we have to watch, right? The bottom of the power, prior to the power rally, was this 279 area. You see the lows from November the 29th, right? It was 279 on the Q's. The next day it was 280, right? Today we doubled bottomed off that 280. Everybody see it? Today's low is 280 and a quarter. The power low was 280, right? So 280 becomes intermediate pretty strong area that the bulls need to defend, right? So far today, they challenged that 280. And again, if you look at the indexes today, again, you got some pretty big moves. That lost 500 yesterday, lost another 350 today. NASDAQ lost 200 yesterday, lost another 200 today. So it's not pretty, right? It's definitely not feeling good. Three days ago we were feeling a lot better when the bulls kind of negated the strong jobs number, right? But now we're kind of faced with the reality of what potentially could happen next. So guys, write this down, 280 is the intermediate double bottom right now. Is it possible? Is it possible? We have a dead cat bounce tomorrow, of course. Anything's possible. That tends to happen once in a while when there's a double bottom, especially faced with an event, right? An engulfing event. Here's also a flip side, right? If we start confirming down below this 280 level, right? If there's 280 level here and take down this 279, then we're going to be in the crosshairs, right? Of getting a measured potential move to the 50 day moving average. This is where, and again, I don't want to kind of jump the gun and talk about what potentially could happen after the 50 day moving average. But you guys already know, if you've been watching this broadcast for a long time, you could see what happens after, you know, when you lose the 50 day moving average. Here's you lost the 50 day moving average, you're going to go a lot lower. So if we start losing this 280, 279 area, we're going to go down to this 277, do or die area for the bulls and any close low, the 50 day moving average, it's not going to be a pretty thing. And again, for all you guys who lived through the last, you know, 8, 9, 10 months that we've been primarily underneath the 50 day moving average, you kind of know. No matter what happens, no matter what you think, stocks will go lower. Sure, there'll be days that the market will go higher and there'll be multiple days that will move higher. And you can see by the illustration here below, right? You have multiple days up, ultimately go down, multiple days up, multiple days down, ultimately go to the bottom of the range here. So before that happens and before we have a completely different conversation below the 50 day moving average, we already know what's facing us, right? So if we hold again the 280 level, we might start rallying tomorrow. If we start losing the 279, we are going to be faced with a 277 reality of a back test to the 50 day moving average. Now, does the market usually break the first time it tests the 50 day moving average? No, it doesn't. Usually you'll have one attempt and then the market will be bought generally off that test, especially retest of the 50 day moving average, but then it's almost like putting a bandaid on the severed head, right? And we already know there's a potential casualty up ahead, but the most important part is, you know, at least you'll have some time, especially if you're an investor and you're watching this for the first time. Remember above the 50 day generally is good, right? Below the 50 day, there's nothing good about it. So before that happens, let's worry about the 279, 280 level. And if there is a wash, we'll definitely be prepared for tomorrow's action, right? Primarily, you know, again, it's very, very tough for me to turn around. Just like I said yesterday, right, you know, 99% of my game plan going into today was to the sell side. Again, even that I'm aware that we potentially could have a dead cat bounce, 100%, right? 100% of my game plan for tomorrow is, you know, possibly taking down this 279 level and going into the 50 day moving average. We'll see. Again, you know, I'm not naive. I understand the market doesn't have to go straight down. The market doesn't have to do anything. That's the whole point. As we say every single night, we're just trying to put ourselves in a position that we are aware that we're not caught with our pants below our ankles and surprised what's going to happen, right? We know there was a double bottom taste. So we know if we test that double bottom again and trap shorts and go red to green, yeah, I think the market will rally. But again, like I said a few minutes ago, there's a flip side. We start taking down this 282, 79. We should get a test to the 50 day moving average. So that's kind of where how my thinking is going into tomorrow. Now the worst thing in my opinion, right? Especially after a three day, no, especially two day sell off is the last thing the bulls want to do. And it happened again today, right? If you guys remember, you know, the future is gapped up a little bit. That's the last thing you want to do. Any reversals or intermediate reversals you want to see is for fear, right? It's for fear. It's for carnage. It's for anxiety. It's emotional baggage, right? We don't have that yet. None of that is ever going to happen if the NASDAQ, you know, gaps up 40, 50 handles. You need a reversal of a bottom level. The only reversal I could see possible is having off this 277, 50 day moving average. We'll see about that. So going into tomorrow, let's see how the market plays out. I'm going to give the bears probably two hours, right? Maybe not even. I'm going to give the bears the benefit of the doubt in the first hour. If we start seeing that the market can't crack today's bottom ranges and anything that's acting strong that's having some deep out of the money, especially weekly calls, we'll start to pay attention back to the upside. But at least, again, for tomorrow, I want to give the bears the benefit of the doubt. My game plan is for the sell side. If it plays out the right way, hopefully we'll be having a conversation at this 277 level. We'll see, right? We'll see. Again, I don't care about being right. All I care about is that you should is being prepared on all type of scenarios and being prepared for your game plan to be confirmed, or maybe it doesn't, but that's the whole point of trading, being prepared and being more prepared than the person on the other side of your trade. So, again, as you can imagine, like we talked about last night, Amazon, Apple, right, Tesla, I mean, everything got hit today, right? Everything got hit. We talked about Goldman Sachs. We're going to talk about the financials, right? How crappy the financials were. Again, we'll get to individual pivots in a second, but this is not a great sign. It really is not that everything is getting hit. The leaders are getting hit, but more important, Apple got hit today, right? And it's very, very tough. It's really, really tough to turn around and look at a market strength if the leader arguably, right? Think of an argument that the leader for the last, you know, 10, 20 years has been Apple, right? You know, financially, product-wise, cult status, it all boils out to Apple. Apple today lost the 50-day moving averages. Again, we say all the time that 50-day breakdown is super duper important. You can see here, 50-day breakdown only a few days ago before the Powell candle had two days worth of selling. Here was the first day. It's tomorrow, part two. Again, they came with a lot of 140 weekly puts. A lot of 135 weekly puts. So we're definitely watching there. So let's talk about today's action. Again, as you can possibly tell, even from last night's video, yeah, we were sell-bys. That's the whole point. We were prepared for it. We got our pivots. We got our, you know, it was really, it was pretty strong. I mean, that's the best way of saying it. I'm not, I don't sit there and do a whole touchdown dance. The pivots are the pivots. And if you believe in technical analysis, you know, every, you know, we were prepared. I mean, that's the most important part. So let's talk about this. CRM. Yesterday broke down below that 142 earnings low. Today's confirmation was 132.88. If it confirms, can flush more. Ironically, and again, you can make a case that, hey, yesterday went down 10 and it did. If you caught the trade today, you know, it went down, you know, not a lot. You know, it went down like, you know, a little less than two bucks. Here's the break here below this 32.88 went down to 130.90. So, you know, a couple of bucks, nothing big before it kind of, you know, firmed up a little bit. Tesla, again, it's just a beautiful, beautiful thing. Didn't close like I thought, but nice, really nice trade. So yesterday broke down 187.50, 187. If it builds welcome flush. Today's pivot. And this is kind of what we talked about last night, 180 and a half and 179 held twice. Buyers were coming in for the 175, 170 weekly puts. And here is Tesla, right? Here is Tesla. You're a nice move here. Took out the 80, took out the 79, right? Took out the 80, took out the 79. The range we talked about in the last night's video went down to 75. You know, I'd like to see maybe Tesla go sideways for maybe a day or two and see if that, if today's channel could get confirmed for more downside. We'll see, we'll see. But today was definitely a really, really solid move on Tesla. Apple got smashed and they also forgot what the news was, man. It was so, I feel like this day was so long as far as like news and stuff like that. But Apple 145.65 is the 50-day support. Again, there's no bigger support on intermediate timeframes. If it builds below, it can flush. Here was Apple, right? We talked about Apple. Here is Apple. It took down this channel right here, this 145.65 went all the way down to a little under 42. I think it has more downside to go. Goldman Sachs, we talked about last night in the video, got absolutely manhandled. I'm sure the rest of the financials did, but there's no reason to look at all of them. All you just need is one. Goldman 369.30, 369, if it builds below, can flush. Here is Goldman Sachs, right? Took down the 369.30 and went all the way down to the 360. If they confirm one more day, it'll see 355. Target, not a big move. Yesterday Target got smashed 154.75 if it builds below. Lost the 50-day yesterday, not a big move on Target. At least until I logged off. Yeah, not a big move. It took down 74, took down 74. I'm sorry, I got the wrong chart, it is getting late. Yeah, not a big move. It took down the 54.79, went down to like 53 and changed and rallied back. But again, Target looks lower as well. Zeus, not Zeus, I called Zeus. ZS 119, if it builds below, can flush. Again, part of that cloud space. Again, it took out the 19, went all the way down to 115, which is the lower Bollinger Band. This thing is one day away from losing macro. Matter of fact, guys, let's set an alert. Let's set an alert for the bottom channel here. As you can see here, I love setting alerts. Let's set an alert on this thing. First of all, to today's lows. But if it starts losing this bottom channel here, if it starts losing this bottom channel here, you could have a macro leg done. So big, big moves. Big moves everywhere. Netflix 310, if it builds below, can flush. Again, you kind of get the picture, right? Netflix lost the 310 little range here. The five day moving average went down to 303. If the market goes lower, I still like Netflix for one more day. Qs, right? Qs. ETF players, 286, if it builds below. I thought the initial move was gonna be the 284.50s, right? That's where the trade was. And then next thing I know, it just kept going on lower and lower and lower just everything I've destroyed. And the Qs went all the way down to 280. And again, we talked about the line and the sand for the Qs. And Amazon, definitely one of the better ones today as well. Amazon, we talked about this last time in the video as well. 9080, 9060, the last two areas of daily support, if it builds below, can flush. Here is Amazon. They were coming for the 90. They were coming for the 87 weeklies went all the way down to 8790. Guys, this thing is close, very, very close from a macro breakdown as well. So it's definitely keep an eye and continue to keep an eye on Amazon. And I believe that was it, right? I believe that was it. Yeah, that was it. So listen, good day, good solid session. And guess what? It's over, right? It's absolutely over tomorrow. You don't know if we need a dead cat bounce. You don't know if tomorrow is going to be another move lower. But again, at the end of the day, like I say all the time, be prepared, that don't come at all, right? If you don't come strong, right? If you don't come correct, don't come at all. And that's what she said. Guys, have a great night everybody. Enjoy your night, enjoy your life. God bless and I will see you all tomorrow. Take care.