 So now that the Bulls found love and we're above the 200 day moving average, what does this mean for us? Right? Number one, it's not a green light to buy. 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 AccessTrader.com that we wrap up, show hope everybody is doing well. So the big story going into today's session, if you watched last night's video was, well, is this the day, right? Is this the day that the Bulls are going to step up to the plate and make the world known, hey, we're back, right? We're back. This is more than a dead cat bounce. This is the start of the next leg up. We reclaim supply and that's it. This is a small blip in the road. Or was this going to be the day that the market was going to gap up, get stuff, start rolling over, close at the lows and yada, yada, yada, you know the routine, we're going to retest, you know, back to lows. And there was nothing really going on. I would say, you know, 90% of the day, there was really nothing that the market gapped up. A lot of names gapped up into supply and they slowly but surely started drifting. And the crazy, well, I don't know these are crazy, but the odd part about today's session was the market didn't, it never got rejected off anything, okay? There wasn't really a rejection area you could turn around and say, well, we tested the 200-day moving average. Now we got rejected. Now we're going back lower. It just kind of like got rejected somewhere, right? I looked at the chart over and over and over again from this morning, couldn't figure out what. But slowly but surely they started going lower. But the most important part was the NASDAQ 100 did not go down, right? It went a little bit lower, but it didn't go down, which basically told you it started to play possum. And as much as we weren't getting a lot of setups, right, there was some, you know, some Tesla bounces in the morning, yada, yada, yada, nothing, nothing nuts. But the one thing that I kept on seeing was every single time one of these stocks started going lower, it kind of stopped, right, it started moving back higher. So it wasn't the fact that we were going up today that was more important. The fact is we weren't going down. And you know, slowly but surely things started getting quieter and quieter and quieter. And we got it, right? We got it because there was a whole slew of earnings coming out today. You had Google. We'll talk about all that in a second. We had Google. We had AMD. We had PayPal. We had Starbucks. By the way, I'm truly convinced I'm the only one left that goes to Starbucks and keeping the lights on. I mean, does a stock ever beat a quarter? Unbelievable. But the most important part was we were sitting there and waiting, waiting, waiting. And the question was, was the market going to wake up, right? Or we're going to start going, start, you know, kind of melting down into tomorrow's session. And again, nobody would have, you know, nobody would have even kept that fault that if, even if the Nasdaq would have went down today, we had such a powerful two-day bounce that a breather would have been perfectly okay. And the most important part, I went to, I had a session, I had a session, and I came back and the market started, you know, really, really exploding. Amazon exploded. I mean, like everything exploded out of their ranges. And we closed literally, we closed right underneath the 200-day moving average. And the question was, well, how are we going to get through, right? How are we going to get through? And the answer to that was earnings, right? The catalyst, we had some big names reporting. And right after the close, Google came in like, you know, a white knight with the sword, with the shield, with everything and said, yo, get on my back the same way Apple did a couple of days ago. It said, yo, get on my back. I'm going to push you guys through. Like Leonidas, right? Leonidas leading the 300. And after the close, the queues absolutely exploding $2.5, $3 above the 200-day moving average. It's to these guys, right? It's the credit to Google. They came out with earnings and not only did they come out with earnings, they announced to get ready for this, not a two-for-one, five-for-one, 10-for-one, 15-for-one. They announced a 20-to-one stock split, right, which is wild, which is absolutely wild. And I don't know how I feel about it yet, right? You know, it would have been a three-for-one would have been good. And the reason for that was, well, number one, beggars can't be choosers. For years and years and years, we've been saying Google needs to split. The liquidity sucks. Netflix needs to split. The liquidity sucks. Booking.com needs to split. The liquidity sucks. Amazon, you know, the liquidity, for the most part, sucks. We need to split. So the idea that Google finally announced a split, it's very, very tough to turn around and say, well, it sucks. I wish it would have done something a little bit smaller, but it is what it is. The one thing that we kept on talking about in the webinar this afternoon, and it's so ironic because it's split, I kept on talking about it. The key words is, if you hear any of these stocks, use the word split, you know, usually I would turn around and say, oh, never chase this. Chase the damn thing, right? Chase it. I mean, look at the stocks. So Google went from literally up 40 to being up 250 points just like that after announcing the split. And, you know, it's basically taking anything to do with .com up with it. You've got Amazon exploding, right? Amazon exploding. They report in a couple of days. You have anything, anything under the sun. AMD came out with phenomenal earnings as well, big move on AMD, and it's taking everything up with it. You know, you've got NVIDIA going up as well. All the semiconductors are just going absolutely nuts. So yeah, that's the groups, right? That's the group. You have the internet, right? Internet, commerce, cloud, semiconductors, they're all being pulled up. Not, you know, not everything's so rosy for everybody else. You had PayPal come out and, you know, we actually saw some pretty good, you know, pretty good bets to the upside. We saw 190s, right? Being traded pretty heavily too. And, you know, this is kind of the point of, you know, sometimes you're getting, you know, call volume, right? One direction or even put volume one direction. And sometimes it just doesn't play out. We all know, you know, options are a crapshoot. But again, when they are lined up with a daily chart, right, in the middle of the day, usually good things happen. Again, when you're betting into a future result, such as earnings, FDA, whatever the case may be, everything is off the table because nobody really knows. And that's exactly what happened to PayPal, Starbucks, again, I love Starbucks before this COVID hit. I was doing twice a day, right? Literally twice a day, you know, Starbucks is great, but apparently Starbucks is just not great everywhere in the major metropolitan cities. It's awesome. And maybe, you know, Bismarck, North Dakota, maybe not as much. I don't know, right? I don't know. But the point is, you know, Starbucks, again, just not a great performing on earnings, PayPal is getting hit. It took down Square with it as well. So now that we are up, right? Now that, you know, like the old heavy D song, now that we found love, what are we going to do with it, right? So now that the bulls found love and we're above the 200-day moving average, what does this mean for us, right? Number one, it's not a green light to buy everything. Number one, because again, when you go through a whole bunch of charts, you'll see that there's a lot of stocks that are still way underneath supply that need to get the head above water. So it's not a, you know, it's not a blind buying frenzy, but the most important part right now of the Nasdaq 100, it has to stay above it. Now that we found love, what are we going to do with it? Now we got to build, right? We got to build above it. The build is a very, very fancy word. We're not so fancy at all, which basically means price action needs to continue to stay above the 200-day moving average, which is $366, right? So any close, any continued close over $366 on the Qs, that means the longer it stays there above, the higher probability stocks will get pulled up because remember it's always indexes first, and then comes the individual stocks. So now we have the indexes above it. Now their job is to stay above it and keep on building, right? Building above those levels. Obviously you have more catalysts coming into play that's going to basically mess around with those numbers. And you've got tomorrow, you've got Facebook coming out tomorrow, you've got Qualcomm, you've got Spotify, you've got Ab-V and T-Mobile, but the big ones are definitely Facebook and Qualcomm and Spotify. Thursday is Amazon, okay? Amazon, if you told me two quarters ago they were going to miss numbers back to back quarters, I would think you have four heads, but that was the reality. So you have Amazon reporting on Thursday. Is it possible to miss their quarter again? Right? We'll see. But the key is there's a lot of catalysts now. The more we stay above this 366 level on the Qs, the better it will be and your favorite stock will probably start getting above it slowly, but surely remember the old index as we say, indexes first, then stock, prices go. So going into tomorrow, you know, again, we want to look at names that are not gapping up crazy. Obviously there's a lot of names are, but let me give you guys some names that are not gapping up on nuts that I think can still, you know, do their job and do their job really, really well. You know, look, I think Tesla, it didn't participate today, but it didn't fall. Now is the most important thing. It's now two days above the 10-day moving average. You can see this 60-minute channel. It's starting to form. If it could get above the 60-minute, maybe it wakes up. Apple had a really nice move a couple of days ago, if you guys remember, off the 171 pivot. Now we just had a nice rest day, right? Had a big two-day move rested today, if it could get above this channel, maybe this thing explodes. You know, UPS had great earnings today, really, really good earnings. Apparently people are still using UPS, right? So tomorrow, any dip into the rising 60-minute support, a red-to-green type of scenario over today's channel is obviously a good thing, so you want to keep an eye on that. You know, I'll tell you one thing. Some of these Chinese stocks are starting to look pretty good as well. NTS had a really, really big move yesterday. It rested today, right? If this thing could confirm the 50-day moving average, this whole channel here, maybe this thing wakes up ahead of earnings as well. So the most important thing for tomorrow, we don't want to chase anything into tomorrow in the first half hour or 30 minutes. Remember, a lot of these stocks are still underneath supply. You don't want to buy stock in the supply. You want to buy the stocks that are above supply that rested yesterday or rested today and potentially could move above previous days' channels tomorrow instead of buying something into supply and getting rejected. And that's not a good thing. I have to cut this a little bit short, guys. My daughter has basketball practice. If you think trading is hard in your first couple of years, try teaching seventh grade girls the 1-3-1 full-core press. Welcome to my world. Guys, have a great night. God bless. I'll see you all tomorrow.