 Welcome to Access to 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 theaccesotrader.com. Nightly Update Show. Hope everybody is doing well. Just a quick announcement. Some of you guys, it's a good vantage of, we launched the Squawk Box, which basically means if all you guys, if you get value of me doing these updates and stuff, I speak basically seven hours a day, six hours a day, whatever the case might be, nonstop market commentary, all the setups, all the good stuff and jargon and stuff. So if you are interested, Kyler will put a post or whatever it was, one of these tags somewhere in the video that you can take advantage of, we're running kind of a trial there. And if you are interested, it's pretty cool, right? It's definitely pretty cool if you like hearing me speak for six hours. If not, I get it. I hate myself too. I wouldn't want that as well, but if you aren't interested, check it out. So let's talk about the market, right? So look, Qs continue to go higher, okay? I don't think that is the big story. I don't even think that is the biggest story going into the stretch run of summer, going into Labor Day. I think now the big question of, well, how much juice do the Bulls have, right? And I think that the big key of this earning season has continued to be and continued to kind of spotlight of companies coming out with bad news, right? We've been talking about that kind of nonstop, since earning seasons have started, right? We've seen that with technology and we've seen that pretty much all across the board. Even names, for example, like, oh, Walmart, right, we'll get the Walmart in a second. They guided lower, they're painting a pretty much a picture of where people are spending, where people are not spending and probably pretty much giving you kind of a grim reality of well, people are not spending as much because of inflation and higher gas prices and all that stuff. And the most important part is last couple of weeks we've seen earnings in technology, okay? They've obviously negated all those bad earnings, including the Microsofts, including the Googles, including the Shopify's and the Netflix and Meta and so forth and so on. And now the question is, can they do the same thing for the brick and mortar? Probably the brick and mortar, obviously, this presence on the online space, but this week is all about retail. And if you guys remember, Walmart guided lower on July the 26th, and that's it, right? That was the end of the market. You both had your run, ha, ha, this is it. I don't know what you're celebrating, but ha, ha, this is it, okay. So Walmart guided lower, okay? Guided lower, painted a pretty disgusting picture of where people are kind of sitting on their wallets. And three weeks ago by, right, and no, Walmart is not at the lows, Walmart is attacking the top of this chain here. And it's going to be very, very interesting to see, not just with Walmart, but it's going to be very, very interesting to see this week, can the retailers do exactly the same thing that was pretty much put on a, put on a mulligan, right? Put on a mulligan for the technology companies. Can they come out with earnings, not use the word chapter 11, and kind of negate those earnings and go higher, right? Everybody knows Walmart's going to come out with bad earnings, right? They already told you. They said, we're going to come out with bad earnings. That's why the stock gap down here. They brought them back up. So it's not going to be a shock tomorrow if Walmart comes out and say, hey, our earnings suck. Hello, you already told us that three weeks ago. So we want to see, the bulls want to see a continuation of, hey, we already know everything sucks. We already know nobody's spending money. Let's close our eyes. Let's put on the rose color glasses and continue this wonderful, wonderful rally that we've enjoyed now for about three weeks or so, right? That's a good thing. So if you look at all the companies coming out with earnings this week, primarily they're going to be dominated by the retail space. You got Walmart tomorrow. You got Home Depot tomorrow. Matter of fact, I was at Home Depot over the weekend. I forgot what the hell I bought, but I was definitely there, okay? You got, then Wednesday, you got Target, right? You got Target. You got Lowe's, which Home Depot will probably paint the picture of what's going on there. You got TJ Maxx. I don't remember the last time. I was in a TJ Maxx, but hey, teach his own, right? And then you got, let's see here, you got Thursday. You got Coles coming out, raw stores, BJ Wholesalers, so forth and so on. So that's kind of the next test for the bulls. Can we continue to put a blind eye and disconnect Main Street from Wall Street? Because again, remember the stock market and the actual economy are sometimes like six months to a year. It's a trailing indicator. So you can't really turn around and go, little Johnny's mom doesn't have enough to pay an extra $1.50 for a Happy Meal, but it doesn't matter because McDonald's is at all time highs. I don't even know where McDonald's is. I'm just using this as an example, but hey, that was a shot in hell, right? That was actually pretty much a 52 week highs. So that's kind of where we are. Again, there's nothing really report technically from the landscape here. You got Q's drifting higher. Today was kind of like, for the exception of Tesla, we'll get to that in a second. Pretty much a lot of the names I was watching over the weekend, they rested, right? They're still in really good areas to pretty much attack the next area of their ranges, but a lot of names rested today. You could go through the whole list. AMAT reports this week, kind of rested, Spotify, that had actually a pretty good quarter rested today. You had Netflix that went on a really, really good run, rested today at Amazon, pretty much rested today. Still at the top of the channel is just a question of win. And then you had a lot of stocks waking up for potentially testing those top channels this week, like Meta. Meta's getting very close, getting back to Amazon. Amazon is very, very close. You have names, for example, this week. Again, we're just still watching them, like AMD. AMD woke up a little bit. I'd like to see AMD take out this top of the channel here. We saw pretty decent aggressive 105 short term expirations come in. I still like this TDD. TDD tried to get at the top of the channel today. Didn't quite make it. Again, I think of a lot of these second and third tiers, especially software, whatever the case may be, names, you need option flow. We really didn't see a lot of option flow for the exception of, da, da, da, da, da, da, da, da, da. Let's just call this random company Tesla, right? They still continue to come for the 950, the 980s, the 1,000, the 1,020 weeklies. You could say whatever you want about Tesla, they have competition. I don't know the deliveries in Zimbabwe could be slow, whatever the case you want to say. The stock is right now in a very, very sweet spot. It took out a lot of key levels last week, including that 10 day moving average that we talked about off this 885. It took down the 915 that we talked about in Nausia. And now where stone throws away from the earnings highs with a lot of short term option flow. Does it get there this week? Does it not get this week? We don't know, but again, as we always say, we'd like to get prepared. Again, the market kind of turns on a dime. We know that we want to make sure that we are thinking very, very clear that again, we're not putting Tesla yet at 1,020, but at least we know the top of the range here and this whole top of the range here pretty much correlates pretty well with the recent earnings high. So again, if it gets there in the next couple of days, obviously there's a lot of room back to the upside, which includes 964, 1020s, so forth and so on. And I believe the split is three for one on August 24th. I don't believe in the whole theory the stock has to split to go higher. Stocks go higher because we're in a bull market. Yes, we are in a bull market. I hate to break the news. We are, we are again, and we're above the 50 day moving average for almost three and a half weeks now where this is called bull market action. So I think the main key going into this week is number one, seeing how retail reacts. Again, Walmart, we know it's gonna be crappy. It's like Netflix. You guys remember when Netflix came out with earnings, they also guided lower, right? Everybody knew their numbers were gonna be crappy. You know what's saved Netflix this quarter? We only lost a million subscribers versus the 2 million. They only lost a million subscribers. Congratulations. You see what I'm saying? That's kind of the point. Good news is being very, very much appreciated. Bad news is giving a mulligan because of the whole, everybody's still coming out of the whole COVID thing for a couple of years of mulligan. So right now we're still getting the bull market action. How long this lasts? Like I said, in the weekend video, we have no idea. Enjoy the ride. Again, can we see this 36 level, 336 on the queues? Again, that's what's so far. The one, the good thing about this market is it's been very, very orderly in levels, right? When it took out the 296.75, we talked about a potential move to 313. It took out 313. We talked about a potential move into the 320s. And now we're looking at this 336 level followed by a little bit higher levels. But again, let's get there first before we start celebrating queues at 400. Let's get above 336 first. So again, nothing materialistically changes. That's good news. Like my mom says all the time, no news is good news. You're going to run into a lot of slower days especially where we're down the stretch into the summer. A lot of people who've been on vacation and going back on vacation are going to try to steal that last glimpse of summer. And if you live in the Northeast like I do, you know that winter is hell. So you're definitely going to have some days that are a lot more calm than not. But again, as we always say, you only need one, right? Yono, you only need one. And that's a great segue into the greatest stock on the planet. Look, was today the greatest trading session of all time? No, most of the stocks just chill there, right? I mean, they're still setting up, but they still chill there. But I've always maintained the point. You only need one. And you don't need anything else when this little bad boy here starts kicking into gear. So here was Friday, right? Let's kind of do a little bit of quick history lesson. So here was Friday, right? We never got the dip to 870, but at 885 level was a tug of war for like three hours, right? 885, 10 day supply, huge area there. If the bulls can reclaim, should test 895, right? It did all that. It broke 895 and it closed right at 901. Okay, so let's get rid of that, right? Let's get rid of that. So here we came in this morning for all you guys who weren't long, I know a majority of you guys were long over the weekend, but then 901 needs to build. Why was 901? That was Friday's high. So it needed to build and then it got rejected twice 906 pre-market and they needed to get that. It needed to get about 909, but this was the macro area that we talked about in nausea. If you've been in the webinar or on the audio feed, you kind of know 915, this was the spot. And the reason why, this is the highest candle in this whole supply here, right before the earnings highs. And this thing, it did exactly the same thing that it did on Friday off that 10 day supply of the 10 day moving average. It did exactly the same thing today on the 915. It just sat there, 915, 914, 917, 915, 916, 918, 915. And then finally, like a rocket launcher really, really exploded and it traded within a dollar on the top of the range here. This is obviously a huge, huge number because now it's gotten rejected twice off the same level. If Tesla can reclaim this level. And again, I don't know if it's gonna be tomorrow. Maybe it'll take a res day, whatever the case may be. But if Tesla reclaims this channel tomorrow, then you got all those hitters, right? They were coming for the 950s, 980s, 1,000 calls. These guys were coming in six, seven figure bets pretty aggressively for this week and for next. But if this thing could finally get above this top of the range here, and again, we don't know what day or even if it does, it could start pushing into the 960s, definitely a stock to watch. Again, we watch it every day. We trade it every day. It's not really out of our reach. But again, really, really, I mean, this was definitely the move of the day today on Tesla. Everything else was kind of slow here. TTD, it took out the 7635, trade the 7675. Not a big move at all. They kind of just die out a little bit. I still like this thing. If it starts building above that 77 level. Microchip, slow mover, 74 needs to build. This is the highest close from Microchip in this whole channel. This is a little too thin for me, but you can see it's just a lot. One of these stocks, just the staircase to heaven. Highest close in this whole formation. Now it just needs to get above 75 to get it going. Nothing really good there. Nice little scalp on blue. BLU rejected twice the supply, needs to build. Here was blue. Again, I try to put a couple of small cap names into the feed every single day. Because again, I know a lot of people do trade these things. So it took out the seven, traded right into supply here into the 725 area. Again, not a big move, but it is what it is. Boeing, again, not a big move at all. Only went up, I got so sick of the Boeing. Boeing is not Tesla, right? Boeing is not in the video. Boeing is not Amazon. Boeing is Boeing. It really needs option flow to get going. So I got along the stock at 72. It just sat there 72, 72, 72, 72, 7190, 72. I give up. I just, certain stocks are just not for me, just too slow. Again, when you're trading Tesla and you're trading Boeing, so I flattened the stock. I broke even on the trade. I just couldn't care less. If this thing goes higher tomorrow, God bless. PayPal stopped again at 102. Ford, nice looking chart here. They were coming for the $18 weekly calls on Ford, took out the 1620 level trade. Again, it's not gonna put up a monster move, but it should grind the next couple of days if it starts confirming into the 1660s, into the 17 level, assuming the market holds up. Again, nothing big there on Ford. And again, here is this. It goes 941 last stop. Take a prior sale to 941. It stopped right at 940. Again, if it starts building off that 41, it should see 960s for the next foreseeable future. But again, that's the line in the sand for the next few days. Again, here comes Ford for the 18 calls coming in for September's, and that is about it. So yeah, I mean, there's definitely names. I am watching tomorrow if they, well, let's just say this week. I don't even wanna say tomorrow in case they rest. Metta is getting super tight. We definitely gotta watch this thing for the next couple of days. Amazon is getting super tight. We gotta watch this thing for the next couple of days. In the video, can you guess it? Da, da, da. It's getting super tight. That's what she said. That's what I said. That's what you said, right? Also, we gotta watch this thing if the market continues. So again, let's not overthink. If the stock reclaims a level, it should go. If it stalls out, just get out of this thing. Again, there's so many different things you can focus your intention to than something that is failing a level. If it does fail that level, go on to something next. This type of market, you have that opportunity to do so when you're trading in a different type of environment and you have to be a little bit more picky because your windows of opportunity are not that big. So that's it. That's it, guys. Everything is copaesthetic, spies continue to grind, cues continue to grind, IWM continue to grind. Again, potato, potato, tomato, tomato, stock prices for now are going higher. Guys, God bless. Again, if you'd like to jump on the audio feed and get my just literally six hours worth of comments, commentary every single day, I think it's a pretty good, cool thing. I think it really points you in the right direction of where the wind is blowing and it takes a lot of the guessing out of the way because again, everything functions technically instead of irrationally. Guys, God bless. Have a great night and I will see you all tomorrow.