 A lot of times people say, well, Dan, what does that mean? What does that mean? The stock needs to build. And here's a perfect example of the Q's building below the 50-day moving average, right? Six days in a row. 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 AccessaTrader.com, the wrap-up show. I hope everybody is doing well. Right now it is about quarter to seven. I just literally got back from my son's tracking, okay? So I finished my chart work, and as soon as I'm done with this video, I got a soulful game to get to. So crazy dad life, right? Forget about the trader life. It's all about dad life. But again, as much as you guys, well, you guys who have kids, it wouldn't trade it for anything. So let's talk about the tape. So yesterday was bizarre. It was frustrating. I couldn't get anything going. And the most important part of every single day, and we talk about this day in, day out, is all about value. Forget about what social media is doing. This stock is moving. That stock is moving. Anybody who's been trading for a very, very long time knows that's not the case. It's the furthest thing from the case. And identifying plays, identifying sentiment, identifying value is the hardest part. If this was social media, you have 35 stocks you're trading a day, God bless. That's not me. That's not reality. That's not even the realm of anybody's been doing this for a very long time. It's all about what you can identify for the next day, wait for it to play out, and if the value is there, you hit the mouse. And the one thing we've been noticing over and over again in the last couple of days has been selling, selling, selling, selling, selling. And all of a sudden, just when you think you're about to have crazy value for the next day to the downside, they've rallied the market the next day and they've gapped it up the next day only to get stuff. Now I wanna show you guys something very, very important. This is kind of not necessarily the indicative of how the market closed, but kind of what potentially could happen next. If you guys notice now, we are one, two, three, four, five, six days in a row closing below the 50 day moving average. And in those six days, three times we had the possibility, especially in the last three days, three consecutive days in a row, we had the possibilities of finally reclaiming the 50 day moving average on the cues and started building momentum to the upside. And every single day, again, you can see this with your own eyes, every single day we've touched that area and we got rejected, touched that area, got rejected, touched that area, we got rejected. And matter of fact, when you woke up this morning, you saw the futures up very, very aggressively from yesterday's moving to the close. You said, all right, maybe this is finally the day that the bulls seized control, seed the opportunity and finally start making its way through the bushes, right? Through the forest with a machete cutting down trees and maybe finally start getting above this 328 supply, but again, not so fast. And if you guys remember from last night's video, I really wanted to make sure today we were kind of open-minded if we had a very, very strong tape and we started reclaiming levels, then yes, we were gonna start looking at logs. If the market started getting rejected at certain levels, then of course we're gonna start looking at shorts. Tay was probably the first day and we talked about this in the webinar this morning, I literally had longs on beta, shorts on beta and we had to see which one of them was going to confirm first. And unlike yesterday's session, there was actually some pretty good value today, okay? I don't think anybody could turn around and say, hey, there wasn't value, there was some value in beta, Tesla was good today, Zoom was a big mover, you had an Amazon move, but you saw the same common denominator over and over and over again. As soon as you saw the futures getting any type of tightness, any type of heaviness, they started selling the market down. And finally towards the end of the day, and this was the first day in the first day in the last three sessions that we didn't close strong. Matter of fact, if you look at the queues in the last hour of the day, we had a really, really big aggressive sell-off and now we're towards the bottom of the range where they held yesterday off this 321 level, right? 321.40 was the low yesterday, 321.35 was low today. So you could see how important this 321 level for the queues going into tomorrow's session. If the bulls start losing this 321 session on the queues, you can see it, right? 321.45, today's low is 321.35. It starts losing the 321 area. Look how much room you have down, right? You have room all the way down to the 315 level, maybe not in one day, right? Maybe not in one session, but the point is technical analysis will give you a firm gauge of what potentially happens next and you can see it here on there. Now for the macro, any close below this 320.40 on the queues is very, very important. Now again, if you're a bull, you really want to pay attention to that level because any close below the 320.40 level, then you potentially have a room right back down to the 316 level, the lows from May the 12th. Very, very important to understand that. And the most important part, and if you even understand basic technical analysis, the most important part is the word building, right? You guys hear me, even if you're not on the webinar or the private Twitter feed, you kind of hear the word building, the stock needs to build. And a lot of times people say, well, Dan, what does that mean? The stock needs to build. And here's a perfect example of the queues building below the 50 day moving average, right? Six days in a row, beneath the 50 day moving average. And all it simply means is a stock, or in this case an ETF or a barometer of the NASDAQ 100, the longer it stays below a level, in this case on the downside, the higher probability it's going to start testing the bottom of the channel here. So it's building below, right? It's building below the 50 day moving average, the same way the stock market here and the queues were building above the 324 level back to the upside. So now we're making a base. And the one thing that I've always said, the longer the distribution, right? The longer the consolidation above, right? Above supply that's bullish and the longer the consolidation below demand. And again, at this juncture queues are demand, right? The 50 days demand and now keeps on getting stuff there. So now that we are below the six days in a row, the longer we stay there, the higher probability it's going to go down there. And we started seeing very, very aggressive moves from names that were strong, right? They were very, very strong, like Amazon, right? Ever since that note from two days ago that Morgan Stanley talked about, Amazon could see $5,000, $6,000 in the next several years. And again, I think everybody would agree with that but you could see what happened to Amazon, right? This was the strongest name. There was a pivot this morning above that 3303 level and look what happened, right folks? It hits supply perfectly. And this was literally, what are we talking about here? This was literally an 80 point candle, right? Back to the downside and now it closed on the 50 day moving average. So now that we're getting the strong names are also starting to see weakness, that's a problem as well. So kind of review six days in a row below the 50 day moving average the longer we stay below it the higher probability we'll see recent lows. And it's very, very hard to get excited if you're a bull going into tomorrow's session. Very tough, okay? And it's very tough to find something that you turn around and say, I have to be long the stock, right? I need to be long the stock. I have to be long the stock. Even Tesla this morning looked incredibly good, right? Really, really good. I caught a pivot on this thing off that 590 level but it looked really good. Like it was about to explode. You saw 600, 610, 615, 640 weekly calls come in and look what happened. As soon as it hits supply, right? As soon as it hits supply, it just rolled over now. And now you have a two-sided trade ready to be on deck, either above this channel to the upside or below this channel to the downside as well with a measured potential on the March 8th lows. So we're kind of set up for tomorrow. Although I do have some loans that I kind of like for tomorrow, the majority of the names that I'm watching tomorrow is to the downside. Is it possible we rally? If everything's possible, right? Everything's on the table. You know, we're not in a pissing contest to see who's right, who's wrong. We're just trying to take the data and try to figure out what happens next. And based on what we're seeing here, based on the data we're collecting, you know, I do believe their value for tomorrow is gonna be on the downside. Is it possible to find some loans? Of course, you know, there's some names I kind of like on the long side. Fisker, right? Not a bad-looking chart. This morning, we had a NKLA of all things, pivots to the upside. The Fisker looks okay. Fisker, you know, confirms today's price action. Maybe this thing wakes up for tomorrow. A name like Blink, right? This charging station. Again, there's a theme here, right? Biden was talking about the EV names possible, blah, blah, blah, blah, blah. So even a name like Blink, again, is it gonna be a big move? No, but if it confirms to the upside, it can move up as well. And then you start looking at names like Netflix, right? And Netflix never rallied. It has a very, very definitive base to the downside. If this thing confirms, it could get hit. You look at a name like VRSK, part of the NASDAQ 100. Look at this, you know, look at this setup here, right? Had a big aggressive gap down into earnings. And now it's just sitting here, basing out there. This thing starts confirming the bottom channel. It can get hit as well. You know, look at a name like ISRG, right? Not really a name I trade a lot just because the liquidity's not great. But this thing is literally a day or two away from confirming the bottom channel here on May the 12th to get hit really, really aggressively. So we're definitely set up here, okay? We're definitely set up here. The question is, is it gonna be an aggressive pull? That's the one thing we never know. And if you look at a lot of charts, you're not gonna see a lot of clear channels even though Amazon looks weak and it looks lower for tomorrow, right? You're not gonna see a major channel. There's a lot of support here. If you look at Facebook, you know, had a really ugly reversal today, you know, look, we're looking at the bottom of this channel here and it's a very clean channel. If the stock takes out this channel, yeah, you have a lot of room down, but this has been supporting out for three days in a row. Is it gonna be just as easy as, you know, click your snap of your fingers, click your toes and you know, next thing you know, the stock is gonna collapse, maybe, maybe not. But at least we have to prepare it to the outside of the market. Names like Apple as well, again, never rallied and this is very, very close to taking down the five day moving average to go back to the bottom of the range. So we are set up, like it or not, we are set up if you are an active trader and you trade both sides of the market. You know, it's your job to identify the easy, not only, I hate the word easy, the most, the clearer, right, the clearer path potential to the goal line. Is it gonna be right? Is it gonna be wrong? We don't know what happens tomorrow. But again, I do like the downside value for tomorrow and I think if everything starts to confirm, we could get some moves to the downside follow through. So let's talk about today's pivots. Again, some really good solid moves today, complete opposite of what we saw yesterday. Zoom 313 needs to build. Zoom had a really strong move, right? Here was Zoom took out this 313 and traded right to 322. You had a $9, $10 move on Zoom, very aggressive early. Yalla, I wasn't, RBLX, I know for a fact, didn't confirm 78 because I was watching at the trade and never confirmed it. Yalla 18 if it builds below can flush. I wasn't watching Yalla. What the hell did Yalla do today? Yeah, it looks like 18 is still, guys, watch this Yalla, YALA. This thing has held 18 out three times if it loses it, it's gonna start getting hits. Keep an eye on it, never confirmed today. Netflix was still watching. Nice pop on BCRX 1450, 1475 needs to build. Here was BCRX, right? Took out the 1450, traded to 15 bucks, not a huge move. But again, markets can be only as strong as sentiment. Fossil only ran up about 20 cents, nothing there. Facebook never confirmed 317, never even came close. Amazon, 3302 needs to build. Here was Amazon, not a huge move at all, right? 3302 needs to build, traded maybe 10 points and then the stock really got rejected off of supply. You can see here that things started losing steam. NKLA, 1350 needs to build. We started watching it and guys, again, this is the common denominator. Once you see order flow come in and once it confirms macro, usually good things are gonna happen. We saw it repeat, 1450 weekly call buyers coming in on NKLA. I was shocked as anybody as me putting it into the feed. 1350 needs to build. Here was NKLA, right? Here was NKLA. It took out the 1350 and went to 1450, not a bad move. Congratulations to all you guys who caught that as well. Take on the way up. Ozone got flushed right at the close. I still like it lower for tomorrow. 52, 50, 52 if it builds below can flush. Here was Ozone. I still like it for lower prices for tomorrow. Here's Ozone took out the 52, 50, 52, traded out to 51, 50, but I still like lower prices, especially if they pull the market, that looks fine as well. Peloton 98 needs to build, traded to 97, 80, never got to 98. Tesla, here's a nice trade. I was pretty happy with the Tesla trade. 590, 593 needs to build, right? Needs to build and it almost exploded, right? Almost exploded and traded out to like 97 change. I sold most of it and stopped, broke even on the balance, which is fine. But now I like it on both sides, either to the downside here, very, very easy channel to identify. And if there are buyers come back, I like the channel above today's highs as well. So I'm kind of watching it both ways, but I'm probably feeling it back to the downside and that's it, right? So we're set up folks, we're set up. I think tomorrow, let's let everything play out, let's everything take out these pivots, put in these opening range lows, let them rally back and once they take out opening range lows, that will be the second entry. That's it guys, nice and calm, don't anticipate everything, let the price action tell you what happens next. Well, off to my next softball game. Guys, God bless and I'll see you all tomorrow.