 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 morning everybody. Welcome to another edition of the Access to Trader dot com weekend update show. Hope everybody is doing well. Hope everybody has a nice start to their weekend. Hopefully everybody's just enjoying life. And that's the number one thing and most important part for our day to day activities. If you are branding to the channel again, guys, thank you very much. We really do appreciate the viewerships. The only thing we like, the only thing we ask for is to like, like the video, share this video, subscribe to this channel, and we will continue to provide unbiased daily technical analysis. So let's talk about the tape. We start the last two weeks of 2023. The queues are up over 52%. That's a lot, right? That's absolutely a lot. It's a very, very impressive rally. What started out as a lot of people talking about, well, it's only three, four stocks taking out the market. Well, obviously it's not the case anymore. Everything is going pretty much crazy orbital. And like I've said all the time, you know, we don't know when this magic carpet ride is going to end eventually. Well, it's just, it's just obvious. Again, when I first started out, the big move was during the dot com era. And we thought it was never going to end, right? It was one of those things that we thought, hey, this is going to be the greatest thing in the world. This is the easiest thing in the world. Stocks just buy, go higher, right? Dips just get bought. And unfortunately one day, the buyers got tired. They just said, that's what happened. The buyers got tired and the bubble popped and yada, yada, yada. Everybody who started out in 98, 99 and 2000, they thought that we were untouchable. We thought that, you know, that we were doing something right. The reality is none of us knew what we were doing. It was just all momentum. You know, overnight traders and we got lucky. That's the bottom line. We got lucky. And a lot of traders who started out, especially in 2000 and 24, you know, congratulations, man. You started out in an incredible year. It's like the traders just started out in 2009, the generational lows and the traders just started out in 2020, the pandemic. You know, 2024 is a great year. And if you started this year and you're having some success, just take a step back, put that money away, set aside some taxes, because again, the market is never as good and never as bad. The one thing that unfortunately we did see a lot of traders and if you go on social media, there's so many just negative accounts. The market sucks. The world's going to end. You know, some of these people just won't be happy until a meteor hits the earth and we all die. Right? That's just the reality. Again, I don't know how you can live your life that way, but I choose not to. And I'm certain to say a lot of you guys feel exactly the same way. But from that point of view is a lot of people were trying to find the top in this market for the last basically 11 and a half months. We only have two weeks left in the year and it's been again an incredible magic carpet ride. And the question is, well, where can this market actually rest? There's actually an answer to that, right? There actually really is an answer to that. Instead of shorting stocks based on what you feel this can't happen anymore, when you're shorting something or you're buying something, this is the whole point of technical analysis. You need a point of reference. Okay. If you're shorting the cues here and here and here and here, there's no point of reference. There's no point of reference. You know, the idea of it can't go higher. Oh yeah, it can. I remember, you know, I remember back in the dot com era when Amazon was trading, I think it was $150 a share and it had a PE of 3,000. They said, oh, there's no way Amazon can go higher. Right? So you need a point of reference. Okay. We're not that smart. Nobody could time the market. And anybody who's been shorting the market for the last, especially the last 11 and a half months, you kind of know where you didn't accomplish this year. And unfortunately, a lot of traders will lose their solvency status trying to pick a top. And there is an actual point of reference that we could look to in the next couple of weeks to see, hey, maybe the market pauses there and maybe there is a technical area. The market can eventually just pause and give us a tradeable move back to the downside. So let's look at the monthly chart. Okay. The monthly chart is going to show you the all-time highs on the QQQs. Okay. The all-time highs on the QQQs was the November 1, 2021 highs. Okay. That is 408.71. As you can tell here, we close in the 105s, 405s on the QQs. And the all-time high again is 408.71. If you're going to at least take a stab at the market and want to see if you can get a quote unquote generational double top, at least use 408.71 as your barometer. So in other words, if we start to speed up on Monday and Tuesday and we get up to this 408.71 level and you know 408.71 is the all-time highs and that is your reference point, if it stalls out there, right? If it stalls out there and starts going lower, then by all means, take a shot, take a short on the market and use the high of the candle for the day is your max pain. So a lot of times when you see these double top plays or potential, I don't use the double top, potential softening plays, potential blow off type of areas. You need a point of, hey, here's the high of the day. Here's my generational area of point of reference. I'm going to use that top. So you could realistically be risking 30, 40, 50 cents for a potential two, three week rollover, but at least give yourself an opportunity. Okay. Don't just start randomly shorting stocks because you know, you feel it in your gut because you woke up this morning feeling great and you knew where the stock is going to start stalling out. And nobody even saying that 408.71 is going to be the high. We could just go right through it and just continue, but at least if you are playing that game, give yourself a shot. Give yourself a technical shot off of a technical level. And if you know it doesn't hold that level, you can get out, get a paper cut in your knee and keep on moving forward. So that's it. So going into this week, again, what do we, you know, what have we been saying for the last to 68 videos? The market's strong, right? Market's strong. I didn't even record a video on Wednesday because it's the same thing. It's literally the same thing every single day. It's just a rotation of stocks and our job is to find the next rotation of stocks that are coming out of their channels. So again, the message continues to be watch the names that are coming out of their channels, buy strong stocks that broke out the previous day on dips. Okay. And rinse for Pete until we start losing the previous days long. That's it. That is the message. And somebody was joking around in the webinar on Friday and they said, Dan, on the weekend up there, you should just, you should just turn on the video, go bullish and end the video. I mean, that's what it is right now, right? That's what it is. Again, we're conscious. All jokes aside, we're conscious of any potential rock pull. I'm not naive. I'm doing this nearly a quarter of a century. I know this magic carpet ride is going to end. But the point is, I know the previous days lows, right? I know the previous day's channels. If it gets violated, then hell, of course it'll start shorting the market. But the point is, until that happens, you can see here, you can look, just look in the last, what, one, two, three, four, five, six, seven, eight, nine, 10. What is the last 10 days of the QQQs have in common, right? They're putting in higher highs and higher lows, right? That's the point. It's higher highs, higher lows until we break that chain of command that we break that cycle. The market's going to continue to do the same thing. As you can see here, the QQs are just hugging the five-day every single time it touches, it bounces along. So now our job is to find strong stocks coming out of a tight channel, right? We've highlighted several names just in the last couple of days that should resume, and they did, right? And they did. Let's start off in the video. The video had another big, big move on Friday. It took out the previous two channels. Traded up as high as $294. They're coming for this week, the $1222 expiration. They're coming for the $495s, the $500s, and we saw even the $505s being traded. Look at the all-time high here on the video, right? It's not that far off. It really is not that far off. It's only six, seven points away. I'm sorry, about 15 points away from the all-time high. So it's getting there. Tesla continues to do well, right? I thought there was a shot this thing could possibly even rest on Friday. It didn't, okay? It keeps on grinding. All it needs to do, guys, I'm telling you, all it needs to do. You see this linear regression line, right? All it needs to do is get above this linear regression line, and we have all air. Again, they're coming for this week's expiration, the $260s, the $265s, and we saw some $270s. Again, it's a sequence of buy-the-dips in the week openings of Nvidia, Tesla, all the same as well. Meta, you know, Meta is getting very, very close to coming out of this whole entire formation, guys, very, very close. He got rejected here at the top of the range from the high from two days ago. At least that's a point of reference. That was kind of my point with the Qs. If Meta wakes up this week, this thing could be really, really aggressive. They were coming for the 340 weeklies for this week, so very strong. Look at Amazon. Amazon is so close, guys. Look how close this thing is. It's very, very close to busting out of this whole range. This looks good as well. Arm, again, another example of a strong stock. Remember we talked about this on Thursday's video? Another strong stock opening weaker, right? So look what happened. It was a strong stock. It broke out. It opened weaker. Shorts got trapped at the rising support, and they ripped it back up again. Okay, keep an eye on arm this week. You know, if this thing starts getting above this 72 area, man, this thing could wake up as well. So we have a lot of names that we are watching. The market continues to be strong. At least now you have a point of reference in the QQQs. If you want to take a stab at a potential double top, at least you have a point of reference and are not guessing. If you are a brand new trader and this is your first year trading, congratulations, guys. It's a big deal. Even if you didn't make your fortune and your hopes and dreams in one year, again, you're not supposed to, okay? Your first year, first several years, you're really supposed to just take everything in, just be a sponge, absorb everything. If you're fortunate enough to have a mentor or find a mentor that could fill you in on the details and, you know, cross the T's and dot the I's, that's a blessing, okay? If you're trying to do this on your own, it's going to be tough. I'm telling you, it took me pretty much about five, six years after I started trading with all the ups and downs to kind of get at least a handle with the hell I was doing and this is by myself. I'm going on year 25. It's going to be March. It's going to be 25 years for me in March. It's a very tough business. So if you are brand new, just have faith, guys. Keep working. Keep on looking at charts. Even again, even if you have no idea what you're looking at, don't let anybody distract you from social media, your friends, your family, the naysayers. Well, I can't do it. Well, if they can't do it, doesn't mean you can't do it, right? You know, there's only, what, 550 players that make the NBA roster. Not everybody could be in the league, right? But it doesn't mean you can't be. So the point is, folks, continue to work, continue to ask questions, continue to be a sponge. Have faith. Keep working. And one day, just it magically happens. Folks, I'm telling you, I used to trade for a hedge fund between 2001 and 2003 by the name of Gadoul Capital, okay? Gadoul Capital, Stephen Gadoul was the owner. Gadoul Capital was the spin-off. It was the spin-off of Herzog, Chaim and Gadoul, right? Herzog was a top market maker during the 2000s, and Merrill Lynch bought them out for 900 million. So the Herzog, the Herzog, the Gadoul part, they started their own hedge fund. And there was no worser trader on the planet from 2001 and 2003. It's impossible. I didn't have a single winning week. I didn't have a single winning month for two years, for absolute two years. And if the fund ultimately didn't have a really nasty, almost blow-up, I would have got fired. I don't know how Stephen kept me for two years, but I was absolutely the worst trader on the planet. So it took me about another three years after that to things to really click. And it does. It's a beautiful thing through education. It's a wonderful thing. You're in control of your trading, and the most important part is it's not going to magically happen. You have to put in the work. You have to do everything what everybody else is not doing. Guys, the dumbest thing I think I've heard ever, and I've heard some dumb things on social media, it's this whole adage of 90% of the traders don't make money. Guys, there's trillions of dollars being exchanged every single day. It's not that 90% of the traders are losing money. It's 90% of the new traders are losing money. That's the reality. That's the reality, folks. You need to get through that year three to five. Once you hit that year three to five, you should really get that good. You should really get that big light bulb moment. And once you do, it does really become a special thing that you accomplish because it's something that not everybody can. So half the faith, guys, keep working. I know it's hard. I know it's difficult. I know a lot of you guys are underfunded. But again, if you push through and you have faith, things will click. Guys, God bless. Have a wonderful last two weeks of the year. For all you guys who are joining the webinar, again, and you are exposed to, for what we believe is a wonderful world of pivots, we are really going to give you a kind of an alternative look at the market for 2024 and you will be shocked what you can accomplish during that time. Guys, God bless, stay blessed, stay healthy, and I will see you all on Monday. Take care.