 Welcome to Access to 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 theaxisandtrader.com nightly wrap-up show. Hope everybody is doing well. Hope everybody had a good day. We'll get to the particulars in a minute. A lot of stuff going on. Again, just to remind you, yesterday we kind of launched the celebration of my 25th year approaching in this trading world. For all you guys, thank you very much for pretty good amount. Pretty good amount of people came aboard last night into today. You saw a lot of great action today, especially when we talk about trading within channels. So hopefully you guys got a pretty good, you know, pretty cool look firsthand of kind of what we do here for a very, very long time. If you are interested, guys, just click the link below in the comments and you guys can check it out for yourself. It's a pretty neat system, and all you need is a couple of weeks to basically see if it's a right fit for you. Other than that, if you are brand new, guys, the only thing we ask is if you like the content and we try to be as unbiased as possible, click like. Just like the video, it takes you one second out of your time. Share the video, subscribe, all that good stuff, and hopefully we will continue to provide good value. Let's talk about it, right? So yesterday we talked about the inverted hammers on the cues on the spies. And the one thing that I really wanted to echo in yesterday's statement was I didn't want to call it a blow off top. I think that word is very irresponsible. Nobody knows if that yesterday was a blow off top. It's just guesswork, right? But I wanted to say and I kind of wanted to really echo my thought process yesterday that I felt it was at least a pregnant pause, right? And usually when you have an inverted hammer, usually you get weakness in the next couple of days. So we came in today, everything was down, very, very marginal, nothing crazy. Data came out and when the data came out, the market didn't like the data. And the one thing that we do know, right? Nobody should have been at least shocked that this happened. And we've been talking about this for weeks and weeks and weeks that the market is just not going to tap you on the shoulder and say, hey, by the way, you're going to give up three weeks worth of profits tomorrow. It's just going to do it, right? So when you're trading, you keep on pushing from overextended levels over and over and over again, eventually you get caught with your hand in the cookie jar. And that's kind of basically what it was. And if you look at the final numbers, it wasn't as bad as it could have been. The Dow was down 525. It was down like 650. The Nasdaq is down 1.8% or 286 points. It was down 300 and change. It could have been a lot worse, right? And that's the best way of saying it could have been a lot worse. The problem is every single level that we were talking about last night's video, 34, right? 434, 433, that was long gone, right? That was absolutely long gone pre-market. When everything was said and done after the hot inflation report came out, the queues were down into the 427s. I mean, everything was killed. Everything off our game plan coming into today's session was dead. It was just absolutely dead. And this is kind of where, again, especially for all you new folks who just came aboard for today's session, you kind of, again, got a firsthand what happens when plan A dies. When plan B dies, when plan B gets basically taken away from you, you have to make adjustments, right? You have to put yourself in a situation that, again, you're not at the mercy of the charts, right? The daily charts. Because we trade within channels, because we trade from supply to supply and demand to demand, we can find opportunities within these channels. That's exactly what we saw today. We saw an absolute phenomenal bounce on NVIDIA. Actually, when NVIDIA actually went green in the day, so did SMCI and so did AMD. But the rest of the market held up really, really poorly for the majority of the day. If you look at the last 15 minutes, there was a massive, massive rally. Actually, it started a little bit after 3 o'clock, but especially the last 15 minutes, you saw this really, really big short covering rally. However, now this is now the lowest close in this whole formation, but at least now going forward, right? Going forward, we have a definitive line in the sand on the 20-day support. And let me tell you what this line in the sand is. So you see this 425-33 level, right? That's the 20-day support. The last time it hit the 20-day support, just like in yesterday's video we talked about, the next day it bounced up. So without understanding and predicting what's going to happen a year from now, the only thing that we do know is if it starts losing 425, right? If the Q starts losing 425, well, then we're going to have more downside selling. When you look at the potential below 425, we have a channel going all the way down to 411. So at least we know that, right? Whether tomorrow is going to be a recovery day or another day of selling. And obviously, yes, last night's video, it was very tongue-in-cheek when I said, I know it's crazy to have a day to sell off, but it's possible, right? I was obviously joking. Of course it's possible. But the question is now, well, has the personality of the market change, right? That's a very open-ended question that we could only answer going into tomorrow's session. It's a question that is out there. It's a question that we don't know until we speak tomorrow night. But that's a very, very viable question. Can there be another day of sell? I know it sounds crazy. I know it sounds crazier than last night's question. Can there be a day to selling? But it's very possible, right? And when you look at the pivots today, the first thing I said today when we started Morning Strategy was, look, obviously the dynamics of the day has changed. After the hot data, 100% of all our setups are completely done. Completely done in this massive gap down. Let the dust settle. Start putting in pivots as the day progresses. And again, you don't need to have 200 trades. Tesla gave a trade. Tesla also gave a rejection. The queues imploded before they recovered, right? You had a phenomenal, absolute phenomenal bounce before you guys were brand new. I know that was the first trade of the day that you guys saw. And you see people kind of trying to catch knives. But there's actually a really, really good technical way to catch knives. And you guys saw what happened in the video. We literally got along within a couple of bucks of blows today. A phenomenal move, an absolutely phenomenal move on that as well. So you can see here. Tesla, originally yesterday, I wanted to short it below 187. Obviously that didn't happen. Not participating on the bounce. It was an initial bounce. 84-30 if it blows, it can flush. Guys, Tesla, and look, this is the lowest close now in Tesla, right? We started seeing, you know, we started seeing buyers come in from the 180-250 for the 180 weekly puts. We saw some 177.50 puts. And I get where, I understand where the bet is coming from because if you look at the previous low from February the 5th, it was 175. So I get where the 177.50 level. Considering this is one of the very, very few names that actually has technical damage behind it. Well, this is the one you definitely want to keep an eye on for tomorrow. If this thing starts losing today's channel and starts getting below the pre-market lows, well, why can't this thing get down to that 175 level? So definitely, definitely keep an eye on something like Tesla. A name, for example, you know, and I just want to give you guys some ideas, some pivots. AMD actually did very, very well. I never confirmed the 7317, but SMCI and NVIDIA, just to show you how incredible this market continues to be. They both were, I mean, SMCI was up 20 at one point. It was up what, 10, 12? So the market continues to be really, really just really good. It's actually amazing. Q's gave a really big move towards the end of the day before the rally. 428 keeps holding the line of the sand for the afternoon. Q's lost that 428, right? Lost the 428 and they got down right to the 425 level. That's what we talked about now where it's the line in the sand. After the close, you had initial really good reactions on Airbnb, right? Yeah, really, really big spike on Airbnb initially. Massive, you know, massive turnaround back downside. Lyft also reported today the initial move was huge. The initial move, what I believe, went all the way up to 20. And now it's only up a dollar. So it's going to be very, very interesting to see if the balls can withstand this haymaker. Today it was a pretty aggressive haymaker. Because again, you can imagine that so many traders are just built on buy the dip no matter what happens. Buy the dip, buy the dip, buy the dip. Buy the dip only works until it does it. It's just really that simple. I know it's a very odd thing to say, but it's the truth. A buy the dip is a scenario when the market's going linear and it doesn't take out the previous day's low. If you're gapping below the previous day's low, it doesn't become so hot and dry. That's the whole point. Once we got below yesterday's channel, I mean, put up another, you know, put up another, what? $8 of downside. So again, guys, be careful. And I understand, you know, when you're a new trader, you're in a position and now it's against you after having some success on the run up. And you're saying this, well, I'm not going to sell it. I'm not going to sell it. Right. I'm not going to sell it. It'll bounce back tomorrow. But what happens if it doesn't, right? I hope it does. You know, I hope it does. I hope everybody, you know, everybody is positioned the right way. But keep this in mind when the market started selling. And again, the last thing I want to do is compare, you know, the bear market of 2022 versus one day of selling today. But my point was that that was kind of the approach of a lot of people who got caught in a really big spin cycle of selling because they came off of a massive 2020 2021 and they were buying these stocks off highs and 2023 hit. And what happened? Right. Well, the stock is down 10%. Well, I'll hold it. It'll bounce back. The stock is down 20%. Well, I'll hold it. It'll bounce back. God, I hope it bounds back. It's down 70%. Is it really going to bounce back? I might as well hold on. You know, there's no point now. Again, I'm not saying that's going to happen. But again, you have to remove that, you know, you have to remove that personality and thinking that your position will bounce back. Hopefully it does. Right. Hopefully this was again just a one day scenario. And just like every other time it hit the 20 day support, look, what happened here? Right. On January 17th, it hit the 20 day support. What happened? We bounced. On January 31st, we hit the 20 day support. What happened? We bounced. Well, today we hit the 20 day support. Are we going to bounce tomorrow to be determined? But again, at least now we know there's a line, a definitive line in the sand. It's 425 on the Q's. If the Q's start getting below this 425 level, then yes, there is going to be another round of salad. So that's it guys. That's the spiel. That's the spiel and I'm sticking to it. That's my story. Tomorrow should be interesting. A lot of volatility, a lot of aggression. Any market that you're not prepared for, any market that you don't know levels for, it's going to be scary. But when you do appreciate technical analysis in the most bare bone, pure form, the only thing that you have to be is afraid of FOMO uncertainty and your ability to stay out of your own way until a stock technically confirms. Trade the market you have, not the market you want. Guys, God bless. I'm looking forward to meeting a lot of you guys for tomorrow. Take care guys. Have a great night.