 Unless Colin Powell, I'm joking, Jerome, right? Unless Colin Powell says something crazy, freaky, naughty, freaky, crazy, freaky, naughty, right? The bulls should have an end of the day run. We'll see, we have no idea. 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 Access a Trader.com nightly update show. Yes, Thursday night, usually I don't do an update. Usually this is my day of rest. I took my day of rest of yesterday. I was just so darn tired after yesterday's session. I just couldn't even compose a sentence. Well, that's what happens. For all you guys who don't know, that's what happens, I speak six hours a day, every single day throughout the day. As you can imagine, it gets a little bit tiring. So I apologize, there was no video yesterday. So I kind of just wanted to make a quick one today. So the question was after this magnificent, magnificent four week run that we hit the 200 day moving average on the spies, how long was this market going to back test? Cause at the end of the day, we also knew that, yes, there was a back test in process. We just wanted to see can the process, can the back test last for a little bit of time, or is it gonna be something more than just the back test? And we really got our answer, not yesterday, not the day before, not the day before that, we got our answer today and we'll get to that in a second. The big news going into tomorrow's session is Chairman Powell will be speaking in Jackson's whole. That's what she said. That's what I said. That's what you said, right? Kind of a big deal because it's not that what he says, it's kind of how the market's going to react. Usually the market is going to be all over the place until the guy finally shuts his trap. I think overall the market bias is going to be in the direction where we closed today because where we closed today was significant on a lot of fronts or at least two major fronts. We reclaimed the back supply and that was the most important part. If you look at the sell-off, and again, this is the whole point of kind of understanding market sentiment and trading both sides of the market not trying to predict where the market's going to be three weeks from now or trying to figure out through data points where the market should be tomorrow. And if you see here, we knew about the 200 day then we knew about how important the five day moving average is because that is the shortest term sentiment and you could clearly tell every single time and hit on the way down, right? Hit the five day moving average on the way down, got rejected, got rejected. So the significance of what happened today was the buyers just finally put up a fight, the sellers got tired, the same way buyers got tired up here, sellers got tired down here. And the significance of what today's session was the spies reclaimed not only the 150 day moving average but the most important part if you're trading on a day to day to day to day active trader basis it reclaimed the five day moving average which is the shortest term sentiment. Again, the bulls reclaimed this, right? If you look at the cues, right? Same thing, exactly the same thing. We talked about this 317 level, the significance of this level, we'll show you that on the pivot feed in a second but we knew back to back days the bulls failed at the 317 level. So it was so crucial today that the bulls started reclaiming the 317 level that that was the pre-market highs at one point well, through pre-market, right? And we needed to see the bulls stand and defend and reclaim and build that level and that's exactly what they did and in the process reclaimed once again the five day moving average. And if you look at the IWM, right? You look at the Russell, it did exactly the same thing reclaimed the five day moving average. So tomorrow is the last day of the week usually you will probably get the most aggressive action the last day of the week because there's weekly expiration. A lot of speculation money goes into that weekly expiration. So for example, we saw on Amazon today, right? We saw on Amazon a lot of 139 weeklies. Well, why is it 139 is an important level? Well, that's the measure potential to the next supply, right? Stocks go from demand to demand to demand. They also go from supply to supply to supply to supply. So we saw a lot of, you know a lot of flow on Amazon on the 139 calls even a name for example, even a name for example, like NVIDIA, right? We saw in the video we talked about NVIDIA three, four, five videos before the earnings, right? And we said, look, the earnings everybody knows they're gonna be bad, right? So the fact that they reported bad earnings last night wasn't a shock. The shock was that people turn around started shorting into that bad earnings ignoring that the news is already out and just exactly what happened like we were talking about, you know unless the stock would have turned around and say yeah, we're going bankrupt. You know, you knew that there was a high probability it was gonna get bought, right? And that's exactly what happened. Again, we'll get to the individual pivots in a second but the most important part is again, you don't have to guess now, right? You don't need to understand where the market was three weeks from now, three weeks ago where it was is gonna be three weeks from now the most important part is where is a higher probability is going to be tomorrow? And if you go through your charts, right? And I wanna kind of, you know make this video short and sweet I wanna go relax. You know, you kind of understand that the five days important and if you go through chart after chart after chart, you can go through the NASDAQ 100 it'll take you five minutes, right? Look at all these charts they all look exactly the same. You have the Q's, you got Amazon, right? Look at the same common denominator everything reclaimed the five day, right? Look at Apple, right? Look at Apple, right? Look at Apple, Nvidia, obviously big move up you have Google and you stock in the NASDAQ 100 it's gonna look exactly the same which basically tells you unless Colin Powell, I'm joking, Jerome, right? Unless Colin Powell says something crazy freaky naughty freaky, crazy freaky naughty, right? The bulls should have an end of the day run. We'll see, we have no idea if I knew 100% I would be all in max size overnight at everything but that's not the way the market goes everything needs to be confirmed just the same way we reclaimed the five day moving average today, we have to build on today's channel. So unless he says something crazy I do think there will be another move up, right? I think we're kind of set up for another move up. You have snow blowing away numbers, right? This thing looks like a day to run or even if any weakness on this snow into the rising 60 minute support needs to get bought because if this thing starts confirming that 97, 98 it should attack the 200, should attack the 200 call tomorrow. Amazon, I really like Google, I really like the only stock that traded funky today and this is kind of what we talked about a couple of videos ago, right? Retails screaming, you gotta be long into the split. You gotta be long into the split. Okay, anyway, so the moral of the story is, right? Moral of the story is, look, charting and technical analysis is a years to years journey, right? You're going to make a lot of weird, you're gonna make a lot of weird determinations based on a lot of weird things, but if you have the charts in front of you, okay, and you see exactly what the significance is of moves and lack of moves and going into supply and reclaiming supply and getting defending at demand, you're slowly but surely going to understand the probabilities in the direction that you're thinking. So again, is it a slam dunk that we rally into the end of the week tomorrow? No, it's not, but all the signs, at least all the signs, all the charts and everything in between are showing that at least, number one, again, we had a really good organic pullback from the highs, right? We can see that, right? We have seven, eight sessions, really strong pullback from the highs. We also know that sellers really look like they got tired today. Well, how do you know that? Well, because everything reclaimed back the five days shortest term supply, but the most important part is the big picture, right? And the big picture, and we talked about this every single day during the back test, the big picture is, remember, the macro view is still we reclaimed the 50 day moving average, and the back test came in this uptrend that started all the way back on July the eighth, and that is the bottom line. So we're set tomorrow, right? You can look at 100 charts, whatever you look at, every single chart on the NASDAQ 100, it's gonna look the same. You have even names that had really good, really good, what is it called? A really good earnings place setting up like a name like a bill, right? That looks good, a name like a crowd. That looks good, Google, that looks good. There's a lot of names that look really, really good. So if you do your homework today, I don't think you have to be very, very creative because if one goes tomorrow, if one member of the NASDAQ 100 goes, there's a high probability that they're all gonna go. The most important part is, if you're doing your actionable list to trade off today, don't look at 20 stocks. Take the three, four that you're comfortable with trading, put them in front of you, because again, it's a very basic rule in trading. If you watch everything, you're going to miss everything and that's 100% facts. So take the three, four names, you feel comfortable with trading, put them on your list, put them in front of your face and if they confirm and they start confirming today's channels, feel very, very confident that technical analysis works and you are going to be on the right side of sentiment. So let's talk about today's channel and then I'm gonna just go and just log off because I'm exhausted. So again, here is the day, this is kind of how this whole day started, right? Cues, 317 rejected back to back days. They need to reclaim and build over for ETF lovers. Again, this was the name of the game, understanding where we are in the dynamics. Here's the high here from two days ago, 317. Yesterday's high was 316.87. Let's not split hairs, 317, 317. Bulls reclaimed 317, got above the five-day super duper bullish, right? None of these stocks, well, this one didn't confirm. ARRY 22 needs to build, not a huge move yet but it had a nice little pop on ARRY. Here is the 22, again, going through supply, traded up to 22.75. I still like this thing. If this thing gets above 23, right? If this thing starts building 23, I think this thing could start waking more up. Fold never got to 13. Cano never got to 717. BCRX never got to here. And here's again, here's my point, here's to the downside, excuse me, there was two pivots. One through the downside, they never got there. And I'm gonna show you the upside pivot in a second. Tesla, again, so Tesla today started trading pre-split, right? Or post-split, excuse me. You're not gonna get the same Tesla, guys. You're not gonna get the 30-point candle. But you know what? My first impression today, I scouted a couple of times today. My first impression is, it trades ridiculous amounts of volume, which is awesome, okay? It's very, very orderly. We saw today two separate pivots. The first one, 295.50, 295, should see 291, 292. If you see with the love of the day is 291.60, right? So it was pretty orderly and it was very organic. And the most important part is you could still participate with institutional money. I don't believe the stock is gonna trade that. I don't even wanna call it that thick. But I believe in the next week or so, it's gonna, the average true range, it's gonna start getting wider and wider and wider. And we're gonna find Tesla to be, I don't wanna use the word back to normal where it's trading at 900. But I think you're gonna have days that you could still see six, seven, eight, nine points. Because remember, for every dollar, that's every three, right? For every $3 old trade on Tesla, it's now a dollar. So a $9 move, it's pretty big. So I think in the next couple of weeks, it's gonna start expanding. But I kinda like what I saw today. I really did. I thought it was smooth. I thought there was a lot of liquidity. It traded very, very organically. Again, I don't know what people are complaining and moaning about. Again, maybe you won't get a $10 candle, but you could get a $2 candle, which is pretty damn good with monster liquidity. So it looks pretty good itself. But anyway, 295, 295.50, 295, it builds below you can flush, you can see 291, 292. Stopped right in between 291.60. Coin went down to like 68 and changed. Nothing huge there. Went down there. Amazon, nice little pop. I really like Amazon, 136.30 needs to build. Some supply at 136.50, if it builds below, it can go higher. That's exactly what it did when it traded pretty much to the highs of the day, 37.20. That's where I liked the area. Shopify stalled out. Didn't really do anything. It went up like 20 cents and then kind of died. On the video, again, we talked about this that, again, the news is out, right? The news is out. That's the whole point of guiding lower. 174.06, if it builds above, it can go. Stock traded all the way up to 179. I still like it for tomorrow. Amazon, again, look at the supply. 137.15, 20 next supply. It stopped literally right there, right there. So this is the area it needs to confirm for tomorrow and that is it. So that's it, guys. We're set up a lot of setups for tomorrow. We're set up. You don't have to be dramatic. You don't need to fight on somebody with social media. This is a dead cat parents. No, this is a rally. I hate you. F your mother, F your father, I hate your dog. It's right in front of your face. Guys, have a great night. God bless, stay healthy, stay smiling and with God's help, I'll see you all tomorrow. Take care.