 And now we're kind of set up here. It really does show you that the bulls were very, very strong, especially towards the line of the part of the week. And now this area here, this 374 area on the Qs, is going to be a very, very important level. Why? Because, again, this is a 20-day moving average. 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 morning, everybody. Welcome to another edition of the Access a Trader.com weekend update show. I hope everybody is having a marvelous, gorgeous, great, whatever agitator you want to use to describe your weekend, to describe your life, hopefully everything is running smooth. But even if it doesn't, again, remember the point of life and the point of trading is whatever doesn't kill you will make you stronger. And as the old adage goes, life and trading is only hard the first 100 years, right, guys? It becomes very, very easy. So let's get into the take. Hopefully everybody's having a wonderful weekend. A lot of news to digest this weekend. Number one, last week, started with this magnificent bomb that hit Wall Street with a potential wall of worries with the whole Evergrande saga potential debt default. If that wasn't enough, you had the whole possible government shutdown possibly spilling over into 2022. And then you had the Fed, right? You had a Fed date that they finally started talking about potential tapering starting in November. So there's a lot of information, a lot of digestion and news flow that the investors in trading community had to digest and properly decipher their risk. And I think the risk was the ultimate part of the whole week. And to the market's credit, and I think that's the best way of showing it, the market really is Rocky Balboa. No matter what happens in the tape, news flow, political, macro unrest, anything, OK? The market continues to be the Rocky Balboa of the universe, gets beat up, gets knocked down, but ultimately gets back up. And you saw that with Monday session, the whole shoot first, ask questions later. A lot of people, again, if you've been watching the videos this week, have a very short memory, only what happened 12, 13 years ago with the mortgage crisis. The word default was a very aggressive, angry word. And people still have battle scars, right? Again, we talked about in Monday night's video, people lost their homes, they lost their jobs. It was a very, very tough time for the country. And I think just for the world itself, it wasn't just isolated to us. So I think the fact that the bulls came back from Monday and rallied back into the clothes. And again, a lot of people at the time said, well, just a little bit of short covering rally. Nobody really knows what's going to happen in the Tuesday session. But to the bulls credit, this is again how it's just so important to use any type of adversity in your life. That's what the bulls did. The bulls could have easily rolled over Monday session, first close below the 50 day moving average since May the 19th. This is how far we're going back. And it doesn't seem like far, but when you're trading actively day to day, every day feels like a week. And kind of this week was one of the longest, most mentally drawn out weeks. I said this in the webinar, probably in the last 10 years. It's not even an exaggeration. We had to really overcome a lot of stuff, right? A lot of stuff this week. And a lot of traders that I speak to throughout the week, friends of mine, friends of mine, whether they're trading for hedge funds or some of them are still around in the prop world, prop business, not even close to where it was. When we were there, we're just individual traders. They will tell you this was one of the most challenging weeks they could remember. Just because we had the wall of worry back, we didn't have a correlation between aggressiveness and volatility. And again, it's a big difference if you watch those videos for the last couple of days, you kind of know the difference. Volatility is bad, okay? Average shoe range is good, volatility is bad. And we had a very, very aggressive volatile market in the first two days, two and a half days of this week. And then things became a little bit stable. And slowly but surely, we started hearing a little bit more positive headlines, all these positive tones into the Evergrande situation. And little by little, traders kind of came back and said, well, wait a minute, this was actually perceived and received, actually in a good way. They're working on their issues with their creditors. And there's going to be some sort of resolution. Again, fingers crossed. The market slowly but surely started recovering. And when you look at the final numbers, and again, crazy, crazy headlines, but when you look at the final tally at the end of the week, you had the NASDAQ flat, flat on the week. You had the Dow that was down almost 1,000 points on Monday, eked out a game, S&P as well, but more important, what happened on the technical side. And this is kind of what we need to focus going into this week. So the first thing the bulls needed to do after that 1,000 point, well, nearly 1,000 point session was reclaim the 50 day moving average, right? And this is kind of how our technical point of view we do kind of work on as traders, which again, we take it step by step. We can't go from here to up here. We need to know the exact levels that we need to reclaim. That's exactly what the bulls didn't and incredibly impressive fashion. So first we reclaimed the 50 day moving average, but we got rejected off the five. The next day we reclaimed the five day moving average and got rejected off the 10. And even though we talked about it on Thursday's video going into Friday's session, even though that we got rejected off the 10 day moving average and we had a pretty aggressive move to the upside, the last thing we wanted to see going into Friday's session was another gap up into this area here of supply getting rejected and completely rolling over. Right, that was the bull case. So what we saw on Friday's session when you opened up your computer, you saw the futures were down pretty aggressively, down about 200 handles and it felt like pre-market, at least in the first half hour or so, it really did feel like that the bulls just had all this fight in them and just didn't have enough juice to kind of start reclaiming the higher levels. And the market got hit in the morning, but again, to the bulls credit, buyers came in short memory from Monday's gap down. They started buying the gap down and we started reclaiming, again, back to 10 day moving average and now we're kind of set up here. It really does show you that the bulls were very, very strong, especially towards the latter part of the week. And now this area here, this 374 area on the Qs is gonna be a very, very important level. Why? Because again, this is the 20 day moving average crossed with the 10. We already established that the 10 day moving average is the birth of the trade. We're just trying to get above it, right? And the key is for the bulls to reclaim that 374 level on the close and start making back into this 376 level, which is the 150 days supply with this linear regression line. This will be the ultimate battleground. Again, assuming we can reclaim 374 on the close, but kind of kind of looking forward to the weekend, I know it's a little bit irresponsible, but again, if some of you guys just watch this broadcast on the weekend, you kind of have to know your level. So 374 is a short term battleground where we need to weigh the bulls, right? They need to end the 374 level and that's gonna give us a little bit of a breathing room, a little bit more run potential into this 376 and change. If we can just get above the 376 exchange and any type of bad news continues to be kind of deflected and pushed to the side, that's when we talk about the Barry Sanders effect, right? The opening up the gap for the market to run. Again, for all you football fans, again, today is NFL Sunday. Again, one of the better days of the week. The Barry Sanders effect is pretty simple. If you've never watched any of our workshops or anything that we talk about, Barry Sanders played behind one of the worst offensive lines in history, right? But yet still managed to have an incredible career. And if you notice what Barry Sanders would do, he would get one carry for three yards, two carries, another one yard, three carries and another four yards. And the next thing you know, you look up, right? You look up and he breaks one run for 75 yards and a touchdown. And that's exactly what this Barry Sanders effect is. The market is just kind of pushing one carry for three yards, another carry for four yards. And once we get here, this is where the offensive line, again, borrowing the football term, has to open up. And if they do, here's your potential to go back to all-time highs. So yes, this 376 area in the week is gonna be super duper important. Any close above this 376 for the Bulls to reclaim. And you should see potential opening of the offensive line, a gap to open. And we start reclaiming this whole hot pocket here. But again, before we put the cart in front of the horse, these stocks need to do their jobs. And I will say this much, this week, we did see some great really aggressive moves, right? AFRM went absolutely nuts. A name like Tesla finally broke out on Friday. Major option flow now has incredible room. I mean, it has room now to 790. It has one more hurdle ahead of it on the macro basis, but Tesla finally broke out. He had AFRM had this monster move this whole week. But the group, the one group that again, a lot of traders, they don't, it's not that they don't pay attention to it, but it's not as as sexy as some of the other groups. Continues to be the semiconductors. They've been really leading us for the last several years. And if you look at a lot of names in the semiconductor names, those are the best looking charts going into this week, right? It's not necessarily than the videos of the world, right? And the video still needs a little bit of work. It's getting there, right? It still needs a little bit of work to kind of confirm this whole channel here. But there's a lot of great names in that group. And when you start looking at names like a Xilinx, right? Look at Xilinx's chart. That's a beautiful, beautiful chart. This thing is just a day or two away from really very getting aggressive. Look at a name like Texas Instruments, right? It's breaking out. It kind of looks like Tesla to wear it. Texas Instruments looks like it has a date here for this 202, 203 level. Let me give you guys some other names to kind of watch. Look at Microchip, right? Look at Microchip, right? Big, beautiful channeling. This whole channel here, this whole linear regression line, kind of looks like the cues, right? It kind of mirrors the cues. But again, that's not really a coincidence. The biggest group that is dominating the cues are the semiconductors, right? Semiconductors and the biotechs make up the biggest part of the NASDAQ 100. So, so go the cues, so go the semiconductors or pretty much what happens first, the chicken or the egg. Maybe the semiconductor goes first and the semiconductor and the cues follow. But again, look at Microchip. One day away from getting out of this channel. Look at AMD, right? AMD was an absolute rock star from July, right? Had this just epic, epic run. Look how close AMD is, right? To get above this whole channel here. Again, might not happen on Monday, maybe not happen on Tuesday. But at least we have to be wary of the idea that the semiconductors, if they're going to lead the NASDAQ 100, this is the group, right? This is definitely the group to do it. They have the most dominance in the index and the most impressive charts setting up into Monday's session. When you look at other names that had their own issues this week, again, yes, and you had this aggressive move down on Facebook and woke up a little bit, but it's not leading out of a channel, right? When you look at Swear, for example, again, had this really, really big move of consolidation. Maybe it goes this week, maybe it doesn't. If you look at Microsoft had a chance this week to really bust out of this channel, it might be ready, but again, it's not that clear. But if you look at the semiconductor space, that is, in my opinion, the clearest group that could lead this rally higher. And if it does start pulling up the NASDAQ 100 members, there's a lot of names that look very, very good. So look at Amazon, for example. Not a lot of people are going to turn around and say, wow, Amazon looks like a really, really strong play this week, but look how close this thing is. Again, it does mirror the NASDAQ 100, but look how close this thing is to setting up into a big, big potential channel. If you saw going into, I believe it was this week in the options market, it was a pretty heavy bet for the 3500s going into this week. So we're set up, okay, we're set up. If the bulls want to continue this rally, we know about the initial 374 area in the Qs, they need to reclaim a little bit of a bigger picture, timeframe, the 376 for macro, semiconductors are definitely on deck to kind of lead the way going higher. I believe Tesla needs to be bought on any dip. If you get any dip on Monday on Tesla into rising 60-minute support, it needs to be bought. They were coming for aggressive, aggressive call buyers. We're coming in for this week's 770, 775, 800s. We saw, I believe we saw, I forgot which one it is. I tweeted this out, it was, I forgot which series it was. Somebody bet, I think it was a couple of hundred grand for, was it in November, please check. November 1150s, I think I tweeted out my regular feed. Matter of fact, you know what, let me just take a look real quick while we're on this thing. I believe somebody, not to say the stock will get there, but I believe somebody bet, hold on, I'll tell you right now, I'll tell you right now, give me a second. Somebody bet the May 1150s for Tesla, just saying. So again, nobody knows what's gonna get to 1150s, but you can see the pocket here of strength. This thing looks really, really good, very, very aggressive. So there's definitely names that we like, semi-conductors, Tesla, everything in between, but the key for the bull's success right now is in your hands, right? The bull is in your court. You either reclaim 374 when we go higher, or we get rejected at 374, again, because you see here, back to back days, we got rejected 374. While we get rejected, back at 374, and we start falling down below the five-day moving average, and any close below the 50, again, obviously we see potentially what's in our future. So remember guys, success is not a straight line, okay? Education is not clear. Process is very, very subjective based on market conditions. You're not expected to understand everything. Traders have been trading for 22, 25, 30, 35 years or all looking at the same data as you are, okay? If it doesn't make sense to you, it's probably not gonna make sense to somebody else. And at that point, sometimes it's just the easiest thing to do is say, look, I don't know. I don't have a good grip. Let me get out of the way for a second. Let me collect more data and see what happens next. That's the prudent thing to do. That is the adult thing to do. That is the way you stay alive in this business until you get that really clear path to the goal line. Barry Sanders gets the handoff and back to the house. Guys, have a great remainder of your Sunday. God bless, have a tremendous trading week. And with God's help, we'll see you all tomorrow. Take care guys, have a great, great day.