 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. And just like that, with a snap of the fingers, bullish sentiment is done. Guys, good evening, everybody. Welcome to another edition of TheAx is a Trader.com. Nightly wrap up show. Hope everybody is doing okay. So let's talk about it, right? Let's talk about it. Again, I think one of the biggest problems that, and we spoke about this numerous times in the past, I think one of the biggest issues that new traders have, they are hell bent about being right. Okay, nothing about trading is about being right. Again, nobody cares about what you talked about. Nobody cares about the call you made or the stock that you touted that worked out. Nobody cares, okay? Technical analysis and doing your research, it's all about being prepared the night before, okay? It's all about safety, putting yourself and putting your money at the most comfortable situation that you can't handle mentally, okay? That's all it is. So the ego game should be brushed out the door. The bravado game and I was right and you're wrong and all that stuff. It means absolutely nothing. It's how you can sleep a night, okay? How you can take your capital however way you've got it and protect it until the day you die. And again, if you are careless in this tape and you continue to trade with blinders on, you're going to be gone. You're going to be a statistic. And I know I see a lot of people talking about this market reversal that we saw today in the middle of the day and they were shocked. How could somebody predict this? This market sell-off came over everything. Again, it's not about being right. It's about being prepared the night before. And today played out pretty much how we talked about last night in the video. We talked about this 228 level on the Q's. I thought this area was an incredibly important area that the bearers, if they needed to defend any type of, you know, any type of conversation that this was nothing more than a bear market bounce versus a V-shaped recovery. They needed to make their stance. So the idea that somebody didn't see this coming is it's all about trading, I guess, like this. Your eyes closed, your ears closed, your mouth closed, your rose-colored glasses on, and you're hoping to God that nobody sees this. But again, professional traders, when they're doing their chart work, when they're researching the night before, we're not looking for the alpha. We're looking for the dangers that could be right in front of us. It's like going into a dark alley. Would you go into a dark alley with no lights on with everything hoping to God you get out of there alive? No, you just don't go into a dark alley. And technical analysis is there to protect you. It shows you what your worst case scenario is. Of course, look, we're looking for measure potential. We're looking to see which way the wind is going to blow. But ultimately, we're trying to put ourselves in a position that our money is safe. We'll continue to be safe, that we can continue to stay in business. And one of the things that we talk about all the time is emotional buyers meeting technical sellers and emotional sellers meeting technical buyers. And again, that is the 101 most purest form of technical analysis. And I think if you really ignored the signs, again, you don't need to listen to anything I say or watch any of the videos, like nightly videos. But again, if you went into today's session and you didn't put in that macro chart work from the night before, you are the emotional buyer. You believe that, again, nothing could harm you. You believe that this is a Teflon market. And for the last 45 days, it has been. But it has been on technical levels that kept on getting rejected, that kept on getting reclaimed and remounted and going higher. And now we're kind of in this weird area. And you're starting to see a lot of the really aggressive perma bears. Even, for example, Stanley Drunkenmiller came out, you know, really, really legendary investor, came out after the close and said, this is the most aggressive area that you can possibly put your money. Literally, now, not yesterday, not the day before, not a week ago, not two weeks ago, not three weeks ago, now that we got this rally and we have this massive reversal intraday. Now he comes out and said, wait, wait, wait, let me add the feud to the fire. This is the most aggressive area that you can possibly put your money. Now, look, maybe he's right. Maybe he's not. We don't know. Anything that we were talking about last night on the video of a potential rejection of the 228 level, we weren't talking about. I wasn't talking about the idea. I said, well, that's it. Market's over. Market's over. We're going to retest the lows. See, told you the economy sucks. California, I think just talked about after the close that the governor, I believe so if I'm wrong, I'm wrong. I believe the governor extended an extra three months of the stay at home policy. Things are not looking great, right? So again, this is enough ammunition that the bear has to kind of make their claim. Now, again, it sounds easier than it does, right? It's never the case. Now the bears need to confirm today's price action. They need to make sure there's enough people that got caught, right? Got caught with their hand in the cookie jar, with their hand in the mouse trap, on this 228 level on the cues that they say no mouse tomorrow and starts kind of a waterfall effect back into the next support zone. And the most important part of what we saw in this sell-off today was two things. Number one, we saw that last gas. We talked about it at morning strategy. I believe we're going to get that last push. We'll talk about the individual pivots in a second. But then I believe that the bulls did not reclaim that level, which they didn't, got rejected once again, back to back days. We were going to get a move back to the five-day moving average. Not only did we get a move back to the five-day moving average, we closed below. And again, this is the first time you're watching any of my videos. The five-day moving average for me is the absolute most important short-term indicator for short-term sentiment. If the bulls reclaim back the five-day moving average tomorrow on a close, obviously, you know, the train is still on the tracks. If the bears confirm today's price action, then we're going to go down to the 10. And any close wall, the 10-day moving average, we're going to go all the way down to here. Now again, this still represents a very, very strong aggressive upside buys channel. But again, we're not looking to make macro calls. We don't care for a ride. We're looking to trade day-by-day, channel-by-channel, trade-by-trade. All we're looking to do for the next day, which is tomorrow, is get enough indication that tell us that we are on the right track to which way the wind is going to blow. And, you know, I looked at a whole bunch of charts. I went through all the NASDAQ 100 members. I went through the Dow 30 members. And I'll be honest with you, if you look, if you do your homework for tonight, you will see that any stock close below the five-day moving average, those are the stocks you want to pay attention to tomorrow. Because if they confirm the shortest short-term sentiment, we are going to get a second-day follow-through of sell-offs. And again, just to give you an idea of what I'm talking about, if you look at the cues, right? If you look at the cues, they close right below the five-day moving average. Look what happened to Boeing, right? We talked about Boeing, and we'll talk about the individual pivot in a second. But look what happened when Boeing confirmed the five-day, right? You see this? I just want to show you exactly what we could be in store for tomorrow. So yesterday, Boeing hit the five-day moving average, which is 128. Everybody see that, right? Yesterday they hit the five-day moving average, and then it bounced. Today, we confirmed the five-day moving average and the stock dropped. So if you look at the cues, just for all you people who are kind of new to trading to get an idea, a visual idea, sometimes, again, you want to see it visually, right? So here are the cues. Today, we tested the five-day moving average close below. If we confirmed the five-day moving average, right? We start confirming today's price target, price action, then we go all the way down to the 10-day moving average. Again, hence the whole point of the PS60 theory, stocks trade from supply to supply, and demand to demand. And if you go through the members, again, it shouldn't take you a long time to look at your charts tonight. It'll take you 10 minutes to go, 5, 10 minutes to go through the NASDAQ 100, and it'll take you a minute to go through the Dow Jones Industrial Members. All you need, again, simplify the day for tomorrow. Stocks that test the support today, if they confirm tomorrow, they should go lower. If the market gaps up tomorrow, and that's in my opinion, the worst thing that the bulls want to see tomorrow is a gap up. Because if these stocks gap up based on how we close into the five-day moving average and go green to red and confirm today's price action, it will be a nasty, nasty sell-off. And again, a sell-off is in the eyes of the beholder. I'm looking for at least, again, I'm looking, if you believe in the theory supply to supply, demand to demand, I'm looking for at least a $3.5 move on the cues initially. Again, nobody's talking about the lows yet. Carp before the horse, right? Steps by steps, baby steps. And until that happens, again, this is just an opinion, okay? Until we confirm today's price action tomorrow, again, this is nothing more than just a setup that needs to be validated. So, again, today played out pretty much like we thought, right? Pretty much how we thought yesterday we were going to get stuck at supply and then things are going to start rolling over. So, you know, let's talk about it, right? You didn't have a lot of pivots. It wasn't one of those days that you were going to have 10, 15 pivots pivot because, again, it wasn't a one big macro surge. There was a lot of names coming off of kind of a rounding top when you get rejected. You're still going to get that late-stage dip buyers that believe that the market will never go down, whether it's macro or just even gravity. So, they were still buying a lot of names into rising support, but we lost that rising support. And that sell-off came, you know, after 3 o'clock. So, it's very, very important to understand that every single day you don't need to really step on the gas with all your might. Sometimes you just need to kind of roll, right? Kind of roll, kind of go 30, 40, 50 miles an hour until you get that opening lane, and that's when you start putting the pedal to metal. So, let's talk about today. Amazon, I liked it for today. I thought, you know, this could get one more push and it didn't, right? Great pivot yesterday, needs to reclaim 24, 21. Obviously, I never did that. So, here's the Amazon chart, right? Here's the Amazon chart. Here's the 60-minute channel I was looking at and never came close, okay? So, again, we had to wait. Tulu, Tulu, Roku. Roku is a quick move here. Never confirmed the next channel, which was kind of weird because it did confirm the daily and the 60-minute in the morning. And this is kind of your first clue that stocks started to slow down a little bit. So, 134 needs to build, and here was Roku, right? So, 134 built. It took out this whole range here, and it went up a dollar, right? Went up a dollar and now we're sitting there and we're like, oh, okay. So, where's the next channel? So, where's the next channel? So, where's the next channel? So, where's the next channel? So, where's the next channel? So, where's the next channel? Again, buyer strike. That's exactly what we were talking about the other day. When stocks get tired, again, they don't need a reason to go down. They just get tired. Netflix, again, we're still waiting for that 445 area. Obviously, never got there. Again, here's a perfect example of a quick scalp. That's all we were looking for today just because we were looking for a directional, biased confirmation, whether it's rejected off that 228 level or reclaiming go higher. So, here are the early morning notes. 134, 75, 135 needs to build. I said scalp only. Again, we saw what would be on that. We saw what would be on that absolutely exploded today. But I believe this was the only trade today into the 136 area. And again, obviously, it got to the 136 area because the stock really, really exploded. But here's kind of what I thought, right? So, here's the 130, what was right here? So, here is the 134, 75, 135 area. Honestly, I thought it was going to just get here, right? I thought it was going to get here into the 136 and change, which it did. It came back in and later in the day it absolutely exploded. But again, we weren't going... We weren't in the mindset that we're going to have a really aggressive continuation today just because all the points we covered. But again, nothing wrong with that. Baba, again, this is a perfect example, another example of stocks that got tired. So, Baba, 207, 207.25 needs to build, right? And again, here's a perfect example. Here's the 207, 207.25 and it got rejected again at 208. So, again, never gave you a second entry on this thing. Again, another perfect example, stocks were getting tired. Boeing, again, this is the first one that really cracked. Boeing 128 daily support held yesterday. If the builds below can flush. Again, I know a lot of you guys are still holding puts overnight. Again, here's the 128 that we discussed, right? Here's the 128, which was yesterday's low. It took that out, started building, closed at 125. Again, this thing confirms, again, remember this whole channel is still measured potential to the 119, 120 levels. So, this is still very much on the table. Again, quick hits on Apple, right? 218 rejection needs to build. Again, we were just in scalp mode today, right? So, here was Apple, here was the 218, right? Here was the 218 level right over here, right? 218 level and the stock, you know, put up a move. You know, the 293.19 had changed. Again, if you can see here, there's a lot of similarities. We're Roku, Alibaba and Apple. They gave that last gas, right? They gave you the cash flow, gave that last gas. It gassed out, started rolling over. Again, picking up clues as we go along that's correlated with the 128 rejection. ZM needs to build, never got there. Tesla put up a move. Again, obviously it wasn't 334. Again, excuse the dyslexia. It was obviously 834 needs to build. You know, put up a $4, $5 candle. It was kind of all over the place today. Again, it did give cash flow, gave a pretty good move. But again, very, very choppy. I didn't even trade Tesla today. This was actually a really good move. Congratulations to all you guys who took that. 186.60, 186, if it builds below, can reverse down, experience traders only. And it was a nice move. Tulo was a really nice move here. You can see here this morning, right? So you can see here this morning, this whole 86 area right here went down right to this 81 area. I said as I get down to 181 and change, that was the rising 60 minute support. That's exactly what it got to. So Tulo, take on the way down. And I said here, here's the first support, right? It got down to 81.60s on Tulo. Beyond, again, perfect. Got into the 136s. So Baba now needs to reclaim 208. They never got to. Roku needs to reclaim 135, which never got to. Netflix again, got to the 44 area and then just died again. Stocks getting very, very tired. And then I basically said for the rest of the morning, look, these ranges is super tired. These strong stocks that are rallying nonstop over and over again, they're gassed out. Our window in the morning, it's closing. You can tell that the ranges are contracting just sit tight, just sit very, very tight. And the next thing you know, towards the afternoon, again, any close under 128 is bearish. Boeing really set the tone and then everything else got really, really plugged. And again, tomorrow is setting up for a line in the sand day for the bulls. So if the bulls believe that this was truly a V shape recovery, again, they got to step up because of this five day moving average does confirm tomorrow. And a lot of these names confirm with it. We are going to have a second day of selling. Easiest thing to do with kind of get yourself in the mindset of what you should be looking at. Again, guys, just go through these charts very, very quickly. The Nasdaq 100, the diamonds, look for the members, anything that closed on the five day or below it. That's your targeting audience for tomorrow because that is confirmation of short term sentiment. Guys, God bless. Have a great night. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.