 You have to be a little bit flexible. You have to put yourself in a position that you are comfortable trading both sides of the market. I say this all the time, if you are a trader. 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 accessatrader.com nightly wrap up show. We can update show hope everybody is doing well. Very summer day, I think unless you're living under a rock today is the 20th anniversary of the 9-11 attacks I can't believe it was 20 years ago that unfortunately left 3000 innocent people, right? And innocent people just dead. It was one of the most somber moments of my life. And I think anybody who's old enough to remember where they were during the 9-11 attacks I could remember it like it was yesterday. I opened up a branch of generic trading where I first was trading in Bayridge, Brooklyn when I was living at the time. I opened up my office either in July or August and the attacks were September. And I can remember being on the phone with my buddy when the first plane hit. And we were like, I can't believe some idiot just went into the towers and then moments, well, not moments later, but a little short time later, another plane hit. And it was an absolute crazy day. My wife, I forgot which tower she worked in at the time but she was there after the first plane hit. Never made it obviously into the building but you could remember what happened. If you guys also remember the towers went down, right? The cell phone towers, excuse me, the cell phone towers went down so anybody that you try to have any type of connection with you couldn't reach them. And once he saw the second tower hit and fall, every crazy thought in my head happened as well that I thought it was my wife and all that stuff. So it was just an absolute incredible day. And my hearts and all of our hearts and prayers go out to all the victims and obviously all the families of those who were affected unfortunately one of the worst days in American history. And I lived in an area, if any of you guys from the tribes, the area, I lived in Bay Ridge, Brooklyn at the time and there was a lot of firefighters and a lot of cops and first responders who lived around that area and from Bay Ridge to downtown Brooklyn is about a 20 minute drive, right? So you can see every, you can especially if you're on the roof of my building you can see all everything, the smoke, the soot, everything. So again, for all you guys who are living a happy, healthy life, always reflect and appreciate what you have because unfortunately, September 10th of 2020, 3,000 people went to bed that night and it had no idea that they were never gonna see their families ever again. So be very, very thankful and be very, very grateful for what you have. Life is very, very precious. Moments and experiences are very, very important. And again, it's cool and all to buy a watch and buy a car and all that stuff. But it's the memories and the people who are near and dear to your heart, they're the most important. So hopefully you guys are doing great and God continue to bless you all. So let's talk about the market down week for the indexes. You saw the NASDAQ down a little bit less than 2% the S&P down a little bit 2% and the Dow down about 2.2% on the week. Again, nothing earth shattering yet. The market has been on a really aggressive run. And when you look at all the indexes, all the NASDAQ 100 data, the Qs data was, again, yeah, it got below the five and below the 10, but it's approaching the 20-day moving average. It's not a big deal yet, right? The big deal only comes when we lose this whole majestic big trend line that started off the May 20 remount that we talked about for a long, long time. If you could see here, we reclaimed the 50-day moving average and started this big move. So any close below the 50-day moving average on the QQQs would obviously be a bad thing, right? Considering we're still about 10 points away from that bottom trend line, it's still very, very tough to turn around and say, well, that was the top of the market. We're gonna go lower. We're gonna crack, right? You can't, you can't either think it, right? You could think it, you could prepare for it, but you can't really have that opinion because the market has been bought very, very strongly. And when you turn around and you see how the market here had the kind of the same situation here, lost the five, lost the 10, it got to the 20, reclaimed and started its running again. So we could be looking at a scenario such as this same thing as well. When you look at the spies, again, a little bit different, right? The spies are closed below the 20-day moving average and now they do have room to the 50-day. And if you could see what happened here on the 50-day moving average and why this is a realistic target for the S&P because every single time it closed below, right? Below the 20, it touched the 50. Closed below the 20, touched the 50. Closed below the 20, touched the 50 and on and on and on and on. And obviously here's the came to the same scenario. So if you look at the S&P and the NASDAQ 100, they're a little bit disconnected, right? The composite and the cues are still stronger than the S&P. But again, we use indexes not to, you know, not to measure our performance based on the indexes, but just to kind of give us clues of what happens next. And again, going to my head on the S&P, yeah, I think we, there's a high probability unless we gap down, reclaim Friday's low and reclaim the 20-day moving average, where we're probably gonna go down to the 50-day moving average. Again, the line in the sand is drawn here as the same way it was drawn here, the same way it was drawn here and here and here and here. So nothing yet macro-wise to go crazy. Yes, we could get a back test more in the S&P 500. If you look at the diamonds, you know, kind of the same thing, the dial broke the 50-day moving average. And now you're looking at this move here back to this 344 level, which is again, very, very conceivable. So if you go into, go into Monday's session, you know, you have to come to the conclusion that there's a lot of weak names setting up. Doesn't mean that a lot of names are setting up technically for a breakdown, but as we all say all the time, if you go back to the May 20 reclaim on the QQQs, the Qs reclaim first, and then you started seeing stock by stock by stock reclaiming the 50-day moving average as well. So you're not gonna have, just because the dow goes down and the bulls reclaim, excuse me, the bears reclaim the 50-day moving average, doesn't mean everything will get pulled down. Eventually, the longer they stay below it, you're gonna have a ripple down effect, a domino effect to get these stocks lower, but you can't assume Monday and just turn around and say, well, diamonds are close, crappy, sell everything, spies close, crappy, sell everything. The QQQs is still a little bit, the jury's still out, but the point is going into Monday's session, if you're an investor, if you're a short-term investor, you know, you should really pay attention to what the market is telling you based on the closes. But if you're a long-term investor, you know, look, it's really nothing you can do on a day-to-day basis if you are not a proactive investor. If you're a passive investor, just let everything play out here. There's nothing materialistic that says the market should go to hell in a handbasket, but at least be conscious that do understand that, hey, if you are subjective to your portfolio via the spies, the spies are probably gonna retest this 439, 440 level. So you could have a down-bias week for the overall indexes. Again, I think if you're trading very, very specifically, right, and if you're an active participant in the market, for example, if you're a day trader or a war, whatever your title is, I think you could obviously have a good amount of value to the short side, but you're also gonna have a lot of good value to the long side as well. And I think this is a market going into Monday's session. I think if you're short and long-bias traders, I think you will have a good piece of the pie this week without any materialistic news that could really shatter the market. So we did have some news on Apple that took down a lot of tech names on Friday, but again, is this enough materialistic news? And again, granted, Apple was a pretty ugly candle and it took down a lot of names with it. But my point is, is Apple going to be kind of the disrupt, break the camel's back? Again, premature, right? I think there's a lot more aggressive news that could come out the market that could really put a lot of valid into an aggressive back test. But right now, again, just from the overall aspect of the market, it's just a back test, right? It's just a back test. We'll see if the technology names could continue to hold strong. There's a lot of strong names still in technology, but I'll show you charts in a second. There's a lot of names that you could participate to the downside and take advantage of this. So if you go kind of chart by chart, I wanna give you an example. So a name like Microsoft, right? Had its really, really big run, just an absolute great move. Again, phenomenal company. Nobody's gonna turn around and say, hey, Microsoft's going to zero, Microsoft Q in stocks. All that social media BS that you're here. Nothing could be just strictly just a trade. Why does everything have to be so majestic? Either stocks go to a mood or the stock's going bankrupt. Why can't it just be a trade? And a lot of you guys who are brand new to trading, you're so emotional about it. Why can't your long position just have a back test? Stocks go up all the time. Stocks go down all the time. Just be a professional. Even if you're trading with a $20 account, be a professional. Once you start acting like a buffoon and start talking about, you don't know anything, you're this, you're that. The other thing, my stock's going to the moon. You know, everybody looks at you like a clown. Again, this is a stock market. It goes up, we go down. More important is we're traders. We try to take advantage of price action. When Microsoft was strong, coming out of this 51 channel, the stock was along. Now the stock closed below the 20 day moving average. And you can see here, right? Stocks go from supply to supply to demand to demand to demand. You can see this for $5 in the trade. Again, it's a trade. Microsoft, gun to my head, will be a lot higher five years ago, but for five years from now, but it's not going to be gangbusters on Monday unless some crazy news comes out. So my point is if you are a trader, right? Not an investor. If you're in a trader, take advantage of the price action to close below the 20 day moving average. If this thing confirms, we could get more downside. That's all it is, just for a trade. Name like AMD that had a marvelous run. An absolute stellar, perfect run, right? Absolutely crazy run for AMD. And now again, same case scenario. First close three days ago, below the 20 day moving average. It closed at the lowest channel below the five day. Again, look how much Truman has. Again, you have four or five bucks in the trade. Again, nobody's saying AMD is going back to the 2008 lows. We're just saying, stocks go to supply to supply, they go to demand to demand. So you could see a move in AMD if they confirmed the bottom channel. You could see a move back to the 50 day moving average, roughly 101. And names, for example, I'll give you the upside, right? I'll give you the upside of that as well. Look at a trade, look at a stock like Nvidia, right? Nvidia held up very, very well. You have a lot of call buying in the name for the last couple of weeks. You have a lot of short term, very aggressive out of the money call buyers coming in the stock. So if the market is stronger, again, we'll see, right? If the market is strong, it starts taking out this whole channel here. Maybe this thing wakes up, right? You definitely have value to the upside. A name like RBLX that we've covered for the last couple of days, looks good as well. I got a Motley fool tout a couple of days ago, really set this thing off, right? It's maybe a day or two away from coming out of this whole channel. So again, you have to be a little bit flexible. You have to put yourself in a position that you are comfortable trading both sides of the market. I say this all the time. If you are a trader, God gave you two hands, God gave you two eyes and two ears, why can't you trade both sides of the market? It's very, very important to adapt. And when you look at the better value for going into Monday, it is going to be the short side. There's a lot of groups that are very, very weak. Like look at Autodesk, right? Look at Autodesk. This thing looks like it's coming really out of this channel here. And if the market is weak, you have a lot of room down. Look at Roku, right? Roku looks like it wants to belly flop as well. Look at, you know, and look at a name like even like Dollar Tree, right? Dollar Tree's retail, right? They gap down on earnings. Now it's looking to start its next leg down. And so again, be very flexible. Don't let your emotional opinion of what you want to see happen with your position. Guys, stocks go up and down just accepted. Be a professional whether you're trading for 20 minutes, 20 weeks, or 22 years like myself. Be a professional. Everybody's money is green. Just don't act like a fool in the process. Your opinion doesn't count. My opinions and count. Technical analysis speaks louder than words and actions according to your asset allocation will reflect if you believe technical analysis is sure is real. So going into Monday, I am, you know, I think I'm 75, 25 sell bias. But again, I have no problem being wrong. If the market goes up, there's plenty of things to do to the downside, upside as well. So I'm kind of very flexible on both sides. So let's talk about Fridays, channels. First and foremost, congratulations for all you guys who I started putting in a bunch of swings into the Twitter feed as much as I'm an intraday trader. There's a lot of people who do swing beautiful move on mRNA four day move here when 417, we said it could get to 458. It was trading 464 pre-market fantastic move. Tesla was a great move as well. If you guys remember for the last several, several broadcasts, the one thing Tesla's been doing is if you guys remember two weeks ago, three weeks ago, it had just one monster move on Monday, did nothing for the rest of the week. The following week had this monster monster move on Monday, did nothing for the rest of the week. And same thing happened this week. Over a Labor Day weekend, we had Monday off. So Tuesday was a monster move, but this time around it kind of failed. And not only did it fail, it put in a pretty ugly candle, pretty ugly candle on Friday. And it took out the five day moving average and now it's not a slam dunk anymore. It's really not a slam dunk. Again, if you've been watching this broadcast for a long time, you know that on the long side, the 10 day moving average for me is the birth of the trade. So if it confirms the 10 day moving average now to the downside, you could get 12 to 15 points before it becomes a macro issue on the 50 day moving average. So I'm definitely, definitely watching both. But again, for all you guys who are long from the 715, 730 breakouts, very, very tough to be upset in the performance of Tesla going into, especially going into Friday's session. Facebook, nice pop on Facebook before they really sold everything off on Apple's news. 381, 383, next big stock spots to build. Here was Facebook. So it took out the 81, took out the 83. It went to about 84 before obviously the market that really hit on Apple's news. AMC, right guys? We've been talking about AMC. And again, I keep on saying, I feel dirty every single time I put the pivot into the channel, but hey, technical analysis, technical analysis. It doesn't make a difference if it's Dorcoine, AMC, Amazon or anything in between. When buyers clean up sellers at the top of supply, stocks go high. When the sellers clean up buyers at the bottom of the man's, the stocks go lower. 49.50 rejected twice pre-market needs to build. Here was AMC, right? Here was AMC, beautiful move. I mean, really, really beautiful move. So here was the 49.50 got rejected twice. Once it took that out, it was absolutely exploded and went all the way to almost 52 bucks. Congratulations. Again, I don't know what's gonna happen to this thing a year from now, but when the channel looks right and you feel comfortable trading this thing, it's been actually a pretty good mover. RBLX 88 needs to build. Nice pop on RBLX. It benefacted from the Apple news. So it took out 88. It went to like 90 and a half. Again, very, very close to a macro breakout on RBLX. Airbnb 167 needs to build. Not a big move, only about a buck in change, but again, not everything could be a big move. Again, when the news came out on Apple, and again, this has nothing to do with Apple, but again, really did take down a lot of names with it as well. Peloton, this was the absolute monster move of the day. Amazon, excuse me, it's had a huge, huge, right? Had a big, big move on Thursday. Strong reversal yesterday. Needs a solid 108 base for a day to run. I would say that's an understatement, right? The day to run on Peloton was an absolute understatement. It took out 108. I thought the first supply was gonna be 110. It went through 110 like it wasn't even there and went to 119, just an absolute ridiculous, ridiculous second day move on Peloton. Congratulations to you guys who caught that as well. ZS never made it to the 192 area. Again, AMC almost a $3 move there. Peloton first supply, 110s, it went to 119, just insane. Absolute insane move. RBLX is spiking on the Apple news. Take on the way up, 90 tests there. And that's it, right? So, look, you have to be very flexible. You have to put the content into kind of what reality is in the markets right now. There's going to be some value to the upside, but just remember guys, gravity's real. Stocks get tired. Technical analysis is your guide. It's not gonna be your make it or break it, but it is going to be your guide. Again guys, say a prayer tonight for all the families that affected and continue to be affected 20 years later by the tragic events of 9-11. May God be with you, may bless you, and with God's help I'll see you all on Monday. Take care guys, have a great weekend.