 Even this crap woke up right even even the leader of the cesspool today took out 1118 took out 1135 and trading to the 1150s So you had a realization today 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, give me a buddy welcome to another edition of the axis of traded calm Nightly wrap-up show. Hope everybody is doing well. I just want to welcome all our new friends who hopped on The squawk box audio feed hope to work with you guys soon. Hope to meet a lot of you guys soon So more important again as you saw today doesn't make a difference what it with the case may be Technical analysis whether you're trading Amazon you're trading a meme stock We'll get to them in a second It all as long as you have volume right as long as you have volume and a confirmation channel Whether it's the long side to the short side you have a high probability of making the right decision. That's all it is It's all probabilities of knowing that the wind is at your back. So let's talk about this So last night we discussed about Walmart the whole retail The whole retail reporting trade this week, okay We talked about last week or three weeks ago To kind of paint the picture how strong the market has been Walmart guided lower three weeks ago, right and everybody was screaming. This is the end of the world and the world and now That news is already out the way. So we talked about it last night Unless Walmart was literally closing down old stores and by by no means is that a crazy headline anymore like what Peloton did Well, not all the stores, but you know what I'm saying You know, everybody already knew they were gonna come out with bad news So they came out earnings. Were they great? Were they bad? Who the hell knows doesn't make a difference This is how strong the market is. It took the information that it got three weeks ago engulfed it right completely engulfed it just the way technology names have been doing this for the last Three weeks or so and took Walmart and took all pretty much all the retailers with it You had Walmart moving had a big big day at Kohl's who's reporting a little bit later in the week Yeah target, right and all these companies basically showing it doesn't make a difference that people are not spending money We know this the most important part is how the market is trading Trading on this news after fact, and it really does show how exaggerated the market is and before before we even talk about the Meme stocks, okay? I just put something at the perspective the spies hit the 200-day moving average today, right? This is three weeks after reclaiming the 50-day moving average. That is crazy, right? Just think about this This is absolutely crazy a dead cat a balance that have been here here would ended somewhere around here This is three and a half weeks going from the 50 day to the 200-day moving average, which is Magnificent absolutely magnificent. You have the cues right going up 40 points in three weeks Okay, that's not a little deal. Okay, that's not a what one of those things. I'll come back later This is a 40-point move in three weeks. That is a big deal and it really does show you kind of a Putting the gas on the fire of what Walmart did and what technology did kind of brushing off earnings This market is pretty powerful. Okay, and if you if you Really don't have an understanding on a day-to-day basis how really aggressive this market is Well, I think we could all agree right forget about if you're trading Tesla if you're trading Amazon, right? Those are speculation darling names. Those are hedge fund names. Those are mention a mutual fund pension fund means right? Those are institutional money flow So you're going to get a lot of speculation money because everybody wants to own those stocks and upward bias But the most impressive thing what we saw today. Okay was the rebirth of the meme stocks, right? And it's something I usually don't talk about I don't care about them, but when in Rome, right when in Rome The rest of the NASDAQ if you look at the NASDAQ stocks for the exception of Amazon that woke up today And we'll get to individual pivots in a second. They all pretty much rested Okay, and the new res day for the NASDAQ composite is down 25 handles, right? That's nothing I mean look at this move. They held a five-day moving average business as usual But what's crazy about it is these meme stocks they represent Speculation they represent retail and they represent what everybody fears that their career is going to turn into the chasers Right the chasers that it's going to the moon crowd and with all the stocks kind of Basically resting today you could just see for the exception of for the exception of Amazon They all rested today you had on Netflix continues to digest recent gains You have meta they're all resting right they're absolutely all wrestling But they're resting in a consolidation channel, which is super duper bullish instead all the money flow literally went from Beta right technology names and they hit names like BBB why? right BBB why they hit names for example like EAR talk about Stocks are not strong look what happened to be and look what happened in EAR just in the last hour, right? So it took if you go if you go my Twitter feed you'll see 165 got rejected twice right This has just happened in the last hour. Okay the stock went into the 220s again This is called chasing speculation money again. I'm not judging here You know again today was a perfect day to kind of see where hey chasing today would be good But chasing today would be good out of technical levels and we'll get you know We'll get to that in a second again. If you know you take a look at names like apron right again These are pivots. We had right apron our names like what's the other name we had we talked about last night I'll show you on the Twitter feed in a second, but names like BB, you know blog the blockbuster a Blackberry woke up right the the cesspool of the cesspool right the leader the commander in crap Even this crap woke up right even even the leader of the cesspool today took out 1118 took out 1135 and trading into the 1150s So you had a realization today that not only is the market strong in retail technology Now everything is waking up and again you can make that count the argument again I can make that count the argument again as well If I wanted to take the other side of this trade or the other side of this kind of conversation I would turn around say well, that's it the bulls did a great job They traded to the 200-day moving average on the spies. They got rejected off the spies You can see this intraday hiccup here, right? You can see this kind of intraday hiccup here They get you know, they hit they hit the 200-day supply and everybody knows again, this is not a this is not a Untruthful statement and you can turn around and everybody knows the last group is always to go is the crap, right? You can make that statement and that's a probably not a far fetch off type of statement But if you look at how the market has been trading, okay? This is not like the 55th day these stocks are up. This is one of the very few days Yes, I grant the BBY was up for the last few days. We even talked about that on on on last weekend's video But the point is money is being allocated to different asset classes Whether it's beta whether it's retail whether it's banks, right? Look at the look at the move the banks have been on right and this is a this is a group who literally wakes up once a year So you're getting something for everybody, but the most important part is and again We discuss this every single day. Don't be naive, right? The market's not going to go up forever at any given point. It could just stop There'll be a buyer strike, but I tell you the way we saw the market today It probably won't be tomorrow, right? Just the way the market is moving up here and I will say this much Technology I've been praying every single day. Please rest. Please rest. Please rest. Please rest and they've been resting, right? They've been doing a pretty good job resting against a lot of the symbols We just talked about but here's kind of the most important part of everything here is going on You don't need the indexes for these stocks to wake up, right? The Dow was up 200 points today, which is fine. Okay, which is absolutely fine I really just show you the strength of the S&P and strength of the diamonds But most important today was even when the you know, even when the Nasdaq today was down 100 100 and change Nobody even felt it because again the scoreboard is just literally a conversational piece Stocks that are being pulled up every single day above supply. They are waking up because this The money flow has to be retop. We kind of rotated into some place and that is a sign of a really really Strong market. So let's talk about the technical aspect of it cues look cues Probably still have you know a good run in them I think the top of the channel here will kind of represent what the spies did But what it shocked me for tomorrow that we get a rest again at the end of the day The spies did hit the 200-day moving average if you thought the first time hitting the 50-day moving average was important Well hitting the 200-day moving average is kind of a big deal So I think in a perfect world these stocks just rest right just rest. It's what what's one's what Wednesday Rest tomorrow rest Thursday every single time I want to rest right want to rest these Stocks just keep on going and going going and we keep on pushing and pushing and pushing But again, we're not we're not you know We're not blinded that in fact stocks have continued to go up in this very very strong market But the point is again be wary right just be a little bit wary Let's watch, you know, especially the members of the spies if they start dragging everything down And we'll really confirm that today we hit like a little bit of a soft a little bit of a soft buffer Right not a concrete wall and the most important part is let these stocks breathe for a couple of days And when they do when they finally start waking up, it should be really really good again. So let's talk about it, right guys so Crazy day. I mean, I mean, it's just really really absolutely crazy day today. So Look for all you guys have been swinging Tesla for the last three days. We knew how important 941 right was right and this is kind of you know But we're also not naive that stocks could stop at levels of interest And that's what's cool part about technical analysis You don't need you know, you don't need a thousand different opinions, right? Stocks are either going to confirm on a level which is very very important, right? Or they're going to fail that level once they fail that level, you don't need to sit there and kind of be like oh Well, let's see what happens next. No, you have to react. That's the most important part So this morning we talk we talked about 941 only area left that matters if it confirms on a second entry Which it didn't okay, that's the most important part This is why we trade second entries for you guys who don't know what a second entry is That's part of the ps60 theory But if you guys notice it took out 941 went to 944 and that became the second entry because that's you're waiting for the first First pullback and it never got the second entry. So we knew right away and we talked about this at morning strategy If second entries confirm it should get to 960s But look there's a flip side to this and this is where we talked about don't fall in love with the stock Don't fall in love with the side of the market, right? Be open-minded trade both sides of the market if it fails that area It will create an earnings double top which it did and we will look for a channel for a backside move Obviously, we want to give the bulls the benefit of doubt, but again in life. We usually don't get well most of the time Don't get what we want. So life gives you lemons you make Right, so we'll talk about this in a second. So Amazon Broke out today. This is actually the highest close in this whole formation But Amazon is going to mirror the the SPY and it's going to mirror the Nasdaq 100 So it was actually a pretty decent move it went 44 60 ran up about a couple of bucks and then once the SPY's got pulled It got pulled as well But this is the highest close in the whole formation if Amazon goes sideways for the next couple of days and Starts reclaiming today's highs and starts building that much airspace. Yeah, there's a lot of airspace in Amazon But a couple of dollar move on Amazon You know one of the very few beta names that actually Stood out so nice move there TTD I still like never got there on the video. I still like never got there AMD I still like never got there, right? You see you see a recurring theme here. Everything was in the smaller cap names This little little sucker looked good. I'm still in this thing. I mean, it's down like 10 15 cents I kind of like this thing still this thing could start reclaiming $8. Let me show you the chart You know this thing is just building here as long as it doesn't lose today's range tomorrow If this thing could just reclaim back to $8. I think this thing could wake up So I'm I'm still in this thing underwater a little bit, but I still like the chart I'll give it one more day to see if it wakes up and here is where you I kind of sat there and I go Wait a minute. What's up with all these crazy little stocks waking up? And if somebody goes those are the meme stocks and once I saw BBY and by the way speaking of BBY It got so crazy at one point with these meme stocks They were buying size in the january get this not 30 dollar calls not 35 dollar calls They were coming in for the january 80 dollar calls in size Right past what you got allegedly Allegedly so we started watching all these meme stocks right because everything else in beta kind of rested expr 236 needs to build again. Usually you're not going to see a lot of small cap stocks I try to give our guys a lot of people do trade them Um, I try to give some you know some of these things. I think we talked about this thing yesterday Even the last night in the video So it got above 236 went all the way to 270 on this supply zone really really nice move on expr But that's not all right. That's not all that's when it just started up Then you got aprim right they started coming for aprim. I said look there's a shot this thing gets to 540 Right there's a shot shot it gets to 540 right and that's a crazy shot No way aprim gets to 540. It didn't get to 540. It went to 640 absolutely madness Here's the 540 confirmed this channel went to 640 again Absolutely bananas what these things are and here's kind of my point where we talked about earlier if the if the earnings highs fails Let's watch the downside. So here was tesla 923 is the double support if it builds below can flush I said 915 907 next stop tesla got the 908 nice move nice move But the point is it's still consolidating in its range. So again, you got a finagle, right? There's something called the juki pookie. You got a juki pookie yourself around this market You can't just sit yourself on one bias watching the stock move up and down You have to know levels and where these levels can have price action So look, you know 540 next stop figure 60 cents on a $4 stock, right? Apparently it's not enough went to 640 EXPR new highs 56 next stop went to 70 Hood I figured look I figured like this, right? I figured like this If all the garbage is moving up and I say that in the nicest most respectful way to each his own Right, wouldn't the king of the septic tank have to wake up first, right have to wake up as well 1120 1135 big areas. They had taken up all the crap Right respectfully speaking, of course, so here was hood not a huge move But here was hood it took out the 1120 right took out the 1120 took out the 1135 went to 1160 nice move there Uh, and then I started joking around how strong this market is would anybody be really really shocked if today tesla confirms the 944 area. That's how crazy the market is right now and that's how crazy the action is Um And I think that's it. I think that's it everybody was pretty much in a good spirits Um Amazon to the house amazon was up 22 points Um I think that's about it. I yeah, I think that's about it And good job for danie one of the people who took advantage of the squawk box So anyway guys the most important part Is technical analysis is your friend your savior your priest your rabbi Whatever you god you believe to okay, you don't need anybody's opinions all the information is right in front of us So going into tomorrow Yeah, I think there's a shot that some of these stocks can still Rest a little bit now you're getting another pop here bby after the close Maybe everything else starts being pulled up uh as well But most important part is remember you don't need to trade every single day your stocks will not be um Thrown into the spotlight every single day just because it's rotation everybody trades a little bit differently But the most important part is never settle never deviate and if you feel comfortable You can spread your wings through other things like a little bit of the meme stocks But if not wait for the value trade right don't wait It's one thing we always say don't short a dull market and at this point in the juncture I think a lot of bears are starting to figure that out guys. God bless. Hope to see a lot of you guys soon And I'll have god's help. I'll see you all tomorrow. Take care