 If you're a permable and you believe in the whole bull market theory, the bulls need to stay above these levels. It's crucial. OK, it's absolutely crucial. 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. Happy Hump Day, everybody. Welcome to another edition of the Access a Trader dot com. That the wrap up show, hope everybody had a good trading day, hope everybody is happy and healthy and alive and hearing this broadcast. So let's get to the market. So no deal done, right? No deal done. The deadline, which really wasn't a deadline, which everybody knew it wasn't a deadline, it came at Wednesdays Wednesday, right? The deadline was yesterday. The problem is, it's not that the market is not doing anything. We all know the market is doing things. And we'll talk about what the market is possibly telling us what's happening next. But if you trade the technology sector, and that's kind of what we do, you've been seeing something that's been happening now for two, three, four days. And not even two, three, four days of selling, but two, three, four days of the market kind of basing right on this big, big level of support. Now again, if you're joining us for the broadcast the first time, you understand why this 282, 283 level is really, really big. Because this is where the whole market took off, right? This is the range that started all the way back from September the 11th, finally broke out. And now we're just nestling. The problem is the longer we continue to sit below the five day moving average and build and build and build, eventually something has to give. And you can see here is one closed below the five, second closed below the five, third closed below the five, fourth day below the five. Now again, the bulls are doing a good job hanging on, right? G.I. Joe with the Kung Fu grip, they're hanging on for dear life, right? They're seeing this whole area here get defended, but the problem is how long can it last? And if you do trade the technology sector and you pay attention to the high fliers of the world that had their really, really big runs, the JK Solars of the world, right? The JK Solars of the world and the docus of the world and the ZMs of the world that had their really, really aggressive moves up, really big moves up, investors did great, traders did great. But as we've been talking about for a very, very long time now, you get, you cannot look at the stocks that already made their big moves. That's right for weeks and weeks and weeks, we've been concentrating on stocks that were coming out of the channels, the bottom channels, the middle of the channels, because the first thing that gets always pulled are the high fliers. And as much as the bulls are defending these levels, you can clearly see the money is aggressively coming out of these big, high fliers. And the most important part, and again, I know people love their stocks. Again, I still don't understand the world-win romance you have to your individual stock, but I get it. Okay, some of you guys are new traders, new investors. I get it, you have some sort of bond. In time, you'll realize your stocks don't love you. But again, for the rest of you guys who've been trading for a very long time or even starting your trading journey, again, technical analysis, again, is not subjective, okay? It's not a discussion if the market is gonna go or it's not gonna go. Usually when you get multiple points of data, eventually that data is really gonna get breached or it's gonna reclaim high levels. So again, here we are, three days in a row, right? Mainly four below the five-day moving average. We have the line in the sand now for three days in a row, something has to give. And if you do your research tonight, okay, and you go from stock after stock after stock, they were basically the biggest high flyers even in the last month, month and a half, you'll notice they're all on the chopping block, either got already destroyed in the last two days or ready to hit that panic button. And again, you don't need to have a lot of clues, guys, all you need to look, right? We talked about JK solar, massive reversal. Again, and you can turn around and say, well, people were talking about this top for a while. Again, our job is not talking about the top, our job is talking about when stocks break technical levels. As soon as it broke the five-day moving average, that's where again, it's moonshocking back to the 10. If you look at, again, the names that had the biggest runs, they're all setting up. Look at Amazon, right? Look at Amazon, literally, right? 3160 is low here, 3160 is low here. Again, what do you think is gonna happen if the bears take control of that 3160 level? Again, this is, you can make an argument, well, this already came down from 3500. It's 3160, the stock is oversold. Maybe it is, maybe it isn't. But again, this line in the sand is real. Peloton that had a monstrous run, really huge run. You know, rallied three months in a row, put in a high of 137. Again, people tell them, well, this is just a pullback. Maybe it is, maybe it isn't. By the way, Goldman Sachs downgraded them after the close. Again, now it looks again, first close below the 10 day moving average. Now it looks like it wants 115, 110. Zoomed that we had a phenomenal move on, right? Phenomenal move, yesterday was that first pivot. We talked about yesterday, 562. We'll talk about the pivots tonight. There was another pivot this morning at 533. The stock now, again, took out the five, took out the 10. This thing looks like a moonshot going up to 500. So again, if you do your research tonight and you really see where the next possible players are at the downside, it's pretty obvious. Amazon really needs to defend this level or this thing's gonna get clipped. Nvidia really needs to get defend this level or it's gonna get clipped. BYND that I traded yesterday, held on today for one day, right? Stopped at exactly the same level but if it loses this level tomorrow, it's gonna get clipped as well. And again, just go trade by trade, set up by set up. Again, these stocks are not hiding, folks. They're not. There's some names that actually look pretty good. Baidu, right? Baidu had a pretty aggressive option buying today in the November, November and December, 135s, 140s, 150s, we even saw 160s. So this thing is actually setting up very, very well. But again, if you look at the majority of the market, they're looking like they're about to get hit and looking like they're about to get hit incredibly aggressive. Again, just ask the players what happened today in square, right? Big, big run up. Again, they pulled the plug on square and that kind of brings us to what happened today. And if you notice, again, I share my morning notes, especially for the people who are not in the live webinar, they do not hear the kind of the play by play during the day. So I kind of give a little bit of a micro analogy of what exactly, excuse me, kind of what's going on and what I'm thinking throughout the day. And the most important part is again, we were ready for the downside pivots. We saw the lower highs being put in for the last couple of days. And now we're just looking for rotation. Stocks, they just haven't got hit yet. They're on the chopping block. And if they do get confirmed tomorrow, you should see more selling. And again, guys, that line in the sand, again, is not a subjective point of view. It's helped three days in a row and if the Q's lose that third, the fourth day's a charm, you're gonna see a really, really aggressive mass selling tomorrow. So again, big, big day coming for tomorrow. Again, if there is no stimulus deal done and it doesn't look like they're close, doesn't sound like they're far, but it doesn't look like they're close. Maybe you get something done by the weekend, maybe by Friday, but for now, again, you can't trade on the hopes of a stimulus package saving anybody. Again, you have to take technical analysis for what it's worth. And after all the cards are dealt, then you can see how it kind of plays out to your individual process. So let's talk about today's session. Baidu, 134, 135 big spots upgraded this morning. I thought Baidu was gonna be, I thought Baidu was gonna be much more than it was. I really thought Baidu was gonna be much more than it was. It had a nice run. Don't get me wrong, it was actually very, very strong. It traded to that 36 area, okay? But again, I think tomorrow, if it starts confirming, if it really, really starts confirming tomorrow's action, then you have 139 really, really quickly on deck and that's very, very important. So we're looking for a big, big push here. Again, if the options market continues, again, this is at least one of the stronger names that could benefit if the market doesn't completely tank. So I still like Baidu for tomorrow. This is the trade that kind of, I was very puzzled about this trade here. NIO, so I got one NIO and it kind of stole that, which was very, very odd considering yesterday there was a lot of call volume. It took out the previous day. So I wound up losing about 18 cents on the trade, not horrible obviously, but the point is I'm still trying to figure out why the stock, why the stock didn't work out considering that Tesla was coming out with earnings today. Earnings look pretty decent. Again, for Tesla to really get stronger, it really needs to get above like that one, that 442 area, 443 area to confirm. But again, we'll get to that for tomorrow. Uber never confirmed. And again, here's a perfect example of a stock that was incredibly strong, had a big run and then it got destroyed, right? Tullo 308 307, if it builds below, can flush. Here was Tullo, right? Here was Tullo, here is took out the 308 307 level, went all the way down to 297. Again, this thing confirms as much more, much more room to the downside. ZM got destroyed as well. Again, second day in a row, second pivot in a row. 533, if it builds below, can flush more. I thought it was gonna stop. Personally, I thought it was gonna stop at 521. It traded to 521 and traded all the way down to 513. Again, I get it, it was a big move, but if this thing confirms today's prices, this thing has a shot to get to 500 tomorrow, so we're gonna keep an eye on that. Netflix actually had a pretty decent trade on Netflix. It was tons of upgrades, they got down 5%. And obviously again, this was for experienced traders only a dollar max paying. So I got along Netflix and it went right up to 507. I was making sales along the way and I knew 507 was gonna be supply. My last sale, I was literally offering out, right here, you see right here? I was literally offering out 507, traded 506.85. So I wound up, didn't get my sale, my last sale, and wound up scratching on my last piece, but again, it was a fine trade. Beyond, I still like, still held this level, didn't reach it today, but I still like it tomorrow. Tesla, nice little spike ahead of earnings today. 526, if it builds, can spike for cashflow ahead of earnings tonight. So here was Tesla, right? Here was Tesla, excuse me, let me just show you on this channel here. So here was Tesla right here in the morning. Here was the whole 526 area, stock traded to like five, almost 531, obviously. And this is kind of where I'm talking about that 442 level for tomorrow's session. So Tesla was fine as well. Square got destroyed, 181 if it builds below can flush more, again held that level twice so big support, so here was Square, right? So here was Square, here was the 581. This whole channel here, 581 went all the way down to 175, just got completely destroyed there as well. Yeah, take on the way up. Again, you gotta be in scout mode. Guys, Sennler, for all you guys who are trading these smaller names, Sennler for INO, I really like this setup here. It's not really my thing, but I found it today and I kinda like this setup here. Look at this INO, just for all you guys who trade smaller names, look at this INO setup. If this thing clears out this whole channel right here, you see that guys? If it starts clearing out this whole channel roughly around, let's just call it 10 and a quarter, so if it starts clearing out 10 and a quarter, this thing could really, really get aggressive to the downside. So keep an eye on that, obviously still valid, destroyed, new lows coming up. But yeah, I thought 527, new lows, and I thought it was gonna get down to 521, it got really ripped off. So again, I think tomorrow is going to be another big day for the indexes. I think it's incredibly important if you're a permeable and you believe in the whole bull market theory, the bulls need to stay above these levels. It's crucial, okay? It's absolutely crucial. They stay above these levels. Matter of fact, they really do need to reclaim roughly 288 on a close for this whole ugly downtrend to kind of wake up. And if they don't, any close below 283, again, you could see what's gonna happen in this future because it's gonna go right back into the channel that it literally took a month and a half to get out of. So it's going to be an important day. Guys, God bless, have a great night everybody. Hope everybody stays healthy and I'll see you all in the field tomorrow.