 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 theaxesandtrader.com nightly wrap up show. Hope everybody is doing well. Hope everybody a great weekend. Hope everybody is enjoying their lives, right? That's the most important thing. We are less than what? A couple of weeks away from Thanksgiving, the kickoff officially to the end of 2023. You got Thanksgiving, my favorite holiday. Then you got Christmas, New Year's, and everything else is set for first quarter of 2024. Only thing we ask guys, if you are getting value, creating value, all that good stuff coming aboard as a subscriber, just like, share, subscribe. Oh, that's it. That's all we'll ask. Just have an open mind of technical analysis, bias and unbiased opinion. And then you start looking at the market and a little bit better and a little bit cleaner view. So thank you very much for spending a few moments with us. After last week, we had this magnificent, magnificent rally. Hell, we just had this magnificent rally now for the last couple of weeks. So we reclaimed the 50-day moving average. You can see here, just a great, great move. And then Friday came out with Moody's downgrade for the United States for the outlook, blah, blah, blah. Right away, I'm getting emails. I'm getting texts. Oh, my God, the United States got downgraded. What's going on? And like I said in the video on the weekend, the queues were down 30 cents after the close. So going into today's session, I didn't really think there was going to be any panic just because of the reaction of the queues on Friday. And today turned into being inside day. Nothing more, nothing less. The Dow eaked out a profit up 50 points or so. NASDAQ and S&P was down three points. Absolutely nothing. A lot of stocks basically arrested. It was an inside day. You can see it's an inside day today, which is very, very bullish. Again, the key to the bulls, they have to hold on to the five-day. As you can see here, just on this grind here, every single time they hit the five-day, we bounce. Hit the five-day, we bounce. Hit the five-day, we bounce. And here we are above the five-day. You know, some days you look at the update and you say, well, there's very, very specific things we have to watch for, look for. Is there a CPI number tomorrow? Yes. They're going to talk about inflation. They talk about inflation every single day. There's nothing more or less important about tomorrow's CPI reported at 8.30, than it is on any random Fed chairman speaking in the middle of the day. Powell deciding to hold Fort, hold court, hold Fort, hold court, any time throughout the week. Look, it's just, it's a data-driven market. It's an inflation data-driven market. It's just something we have to live with, so nobody should be getting ready for the CPI tomorrow. Is this finally going to be a scenario that the CPI, you know, that the market just needs any excuse to come in a little bit? Yeah, very possible, right? Absolutely very possible. And if that's the case, obviously, like we've been talking about in video after video after video, again, don't pick an area that you want to guess that there's a back test. Just take the previous day's range. No matter what stock you're trading, no matter what ETF you're trading, whatever the case may be, you don't need to guess. Just know, identify what the previous day's chattel low is. And once it confirms it, that is your signal to get short. Other than that, what are you doing guessing, right? We've been kind of talking about that for a number of weeks so far, so good. The market continues to drift. You know, we'll see what the CPI report is tomorrow. I'm not sure how much data change has changed from last Friday to last Thursday to last Wednesday to last Tuesday to last, you know, the last, you know, Groundhog's Day, right? It feels like there's a data report here coming out every single second of the day. So again, we'll see what happens, right? We'll see what happens. Always be prepared for both sides of the market. The Q's, you can clearly see here the Q's. 374 is going to be the rising support for the five-day. If the number comes in, you know, if the number comes in hot or if the number comes in cold, whatever the hell the number comes in tomorrow, I use that 374 as your guideline, right? 374 is the five-day support. It is the shortest-term sentiment. And if the market continues to hold, that's a good sign. It's a very good sign. If the market starts squeezing back over Friday's channel, the 378, like I said on, like I said, on the weekend video, you know, we should see a push. You know, we should see a push of that 381 level, maybe even the 382 level. But, you know, again, I think too many people on social media are putting this CPI number on a platform tomorrow, you know, on a pedestal. They, oh my God, you have to get ready for. What do you have to get ready for? Every single day, normal business, right? You know, stop with the FOMO. You have to get ready for this. You have to get ready for that. It's a normal trading day, right? Every single day, there's something going on. There's a Fed coming out. There's some sort of data coming out. Look, if you want to be a professional, act like a professional. If you want to sit there and create FOMO and create FOMO with everybody else, that's up to you. But every professional trader knows exactly what's happening tomorrow. We understand the ramifications of a good number, of a bad number. And now we have to just figure out which way is the first 13 moves, right, going to happen tomorrow, right? Is one of those scenarios that we start taking out the previous day's channel one way or another? Yeah, and if that's the case, that's good for us. It's exactly what we need. If the market continues to be going sideways in a very lackluster type of manner, that's actually good too. That means the sellers are very comfortable with the current market structure. But again, be open on both sides of the market, right? That's the name of the game. Be open on both sides of the market. No professional traders freaking out tonight. Get ready for tomorrow's CPI. It's an amateur thing to say. It's an amateur thing to say. I see people with all this FOMO tomorrow, tomorrow's CPI. It's going to be epic. What's going to be epic about it? Was this the first data you've ever traded? It's nothing. It's the same thing as every other data point. It's the course of doing business. Again, take a deep breath, relax, get a game plan on both sides of the market. And as long as you understand the most basic principle in trading, right, no stock goes higher unless it confirms the previous day's channel, and no stock goes lower without confirming the previous day's channel, you're okay. Everything else is FOMO. Everything else, your heart is racing. And these are all unhealthy traits of a trader who is begging to go on tilt. Every professional trader is calm. They're collected. They have a game plan. They're waiting for that game plan to collect, whether it's CPI, PPI, ABC, or ESPN. It doesn't make a difference. Be ready. Stay calm and stay collected. Other than that, you know, business today, as usual, some decent pivots today, stocks continue just not caring about anything, including the Moody's downgrade, right? You had NVIDIA just keeps on rolling, right? Again, they're rolling in those 500, 505 calls. That is literally the last, at least, company that I'm interested in and earnings the report in eight days, right? The report on November the 21st, they continue to go higher. They continue to buy dips. Today, we had a great dip. We were talking about on the video, on the video over the weekend, kind of every video, you know, I don't want to chase these things into strength, but into dips, these things are great. They, you know, they come into the 60-minute support, right? They come into the 60-minute support like NVIDIA did today. They trapped and exploded. You know, even, you know, look at names like Amazon, right? Resting today, right? Look at AMD. Resting today. These are inside days. These are good, right? Look at Microsoft, right? Resting. Again, inside days, these are good. Metta today finally broke out, right? Metta today finally broke out. You know, gave us a pretty decent move a couple of bucks into supply. Not a huge hit, but again, we knew it was only going to be a couple of bucks into supply just because there's a supply zone there. Tesla today got a little bit stronger, right? And let's talk about Tesla for a second. So we've been doing really, really well identifying pivot, especially to the downside on Tesla ever since it broke the 50-day moving average and obviously blew up on earnings. We had this incredible one to the downside for the last couple of weeks. We had this great pivot off the 15, came in overnight, blah, blah, blah, all that stuff here. This morning, I woke up and you see Tesla gapping up a couple of bucks. News came out of India, I believe, that there's some sort of EV tax and credit and all that stuff on Tesla. I was like, yeah, I get it. But how many people are rocking Teslas in India, right? Maybe they are. Maybe they're not. And from what I understand, they haven't even sold anything in India. But again, I could be wrong again. I'm not a Twitter cult follower of Tesla. I just trade the price action. However, what we did see, more important than what the news was, what kind of the reaction to it. So we started seeing a lot of aggressive call buying coming in, especially on the weeklies. We started seeing 225s, 230s, 235s. We started seeing really heavy bets coming in for the December 250s. Again, it's one of those scenarios, do they know something? Is this one of those scenarios that people are just guessing? Is it one of those scenarios that people are anticipating that Tesla is going to eventually join this price action party? Or are people just literally yoloing, right? Tesla has to go up. Maybe it does, maybe it doesn't. But the price action today was really, really good. Again, we'll get to the pivots in a second. Here's kind of where Tesla gets interesting. As you can see, you see this dark blue line? And I had to make the line darker today. Thank you very much for Arvin to show me how to do it. I've been only using eSignal. Guys, check this out. I've been using eSignal since 2001, right? This is the oldest version of eSignal. So I started trading in 99. This account was created in May of 2001. So you can see, I've been trading kind of a long time. Kind of too long, for God's sake. Last time I updated this thing was 2016. So I had to figure out how to make these lines a little bit darker. Thank you very much for Arvin. So you see this last line here, right? This big blue line here keeps on getting rejected there. That's the key for Tesla, right? That's the key in the next couple of days. Again, it doesn't necessarily have to be today or tomorrow or the next day. But keep an eye on the top of the channel here on Tesla, right? If we start seeing really, really aggressive call buying coming in and we have another inside day or there's a reaction to the CPI, but Tesla is not going down, these are all signs we want to see that, hey, maybe this thing could actually join the party. Two-thirties, two-thirty weeklies are coming in pretty aggressively. We saw some December two-fifties. Those are very, very important as well. But the key here is to get above this channel here. As you can see here, it's going to reject it off the channel once, twice, three times, and today almost made it there, but not quite. So we want to watch the top of the channel, because if they could get above the channel, it's not going to have a straight B-line $10, $15 point, but at least the point of reference, and again, the most basic theory about the PS60 theory and the technical analysis, stocks could only go higher if they take out supply, and stocks could only go lower if they take out demand. So you can see here, it's got rejected off supply three separate times. If Tesla starts to build over supply, maybe it could finally start getting into the mid-thirties. It's something I definitely want to watch for the next couple of days. Look at names like shop, for example, going sideways after earnings, AMD is another name, resting, Amazon, just resting. So we want to watch the same names over and over and over again. And I tweeted out early. I think I'm at the point of my career, and I'm going on year 25, but I think I'm at the point of my career that I'm kind of good with trading the same 10 stocks. I think that's it, man. The same 10 stocks over and over again. Amazon, Meta, Apple, Microsoft, Tesla, and Nvidia. From once in a while, I trade like a Shopify, AMD, I like as well. But again, it's almost at the point that it's like my children. When you come home, you look at your kid's face, you know if you had a good day or a bad day. These stocks are kind of like my kids at some point. I kind of know what to make of them, how they're feeling, what they should be doing, how they should be responding to certain angles. So it's one of those scenarios that I feel very comfortable and going forward, I'm probably trading 99% of the same stocks. It's just because it's just the greatest value. If you are on the webinar, you kind of attest to this, man. It's just like when these things get going, it doesn't mean going up, going down as well. It really, really makes things very seamless when price action is confirmed, especially with aggressive out-of-the-money option flow. And that's a very, very important point. So going into tomorrow again, we'll see what the CPI holds. We'll see what happens there. We'll see what the reaction time is. We'll see exactly what stock is moving to the upside, what stock is moving to the downside, and we'll get a good understanding, especially by the 10 o'clock channel. So again, technically no news is good news. The market continues to act pretty well. So these are the pivots of the day, right? These are the pivots of the day. Amazon never confirmed. Starbucks never confirmed. DDOG, not a big move, but DDOG, we talked about this on the weekend video, 104.50, earnings high needs to build. Here was DDOG, not a huge move, but 104.50 traded up to almost 106. Again, nice-looking chart. All it needs to do is get above like 106.5, 107. I think you could start the next leg up. Lenard, I didn't see Lenard. Little Lenard do today. Lenard did nothing. It actually stopped exactly where it was supposed to. I still like this Lenard. It's going sideways. Metta today was pretty damn good. 329.10 and 30.30.50 needs to build. Metta started taking out Friday's highs, took out the highs from 10.12. Again, it stopped right in the 3.32 just because there was a Bollinger Band there. But again, this thing starts getting back about 3.33. Metta is going to wake up again. CVNA, it went down like 20 cents. Nothing. Carve crowd. Crowd, if it opens below 197, then use that for second entry, and then needed to confirm 199.50. Here was a crowd. I didn't trade this crowd a little too thin for me, but nice move on crowd. When all this to 202, this thing looks higher. Metta, and then Metta and Tesla, right? That's what we talked about Tesla. Tesla 218.50 needs to build. Yeah, Tesla built. Tesla definitely built. Here was Tesla. So it took out this whole channel here, pregnant pause, and just absolutely exploded into the 25s. And like I said, all it needs to do is get above this channel here. Everything else pretty much rested. Everything else pretty much had an inside day. Again, guys, remember, social media is good because you get to meet cool people. You get to exchange ideas. But you got to, you got to really, you got to really curb who you're following on Twitter. I mean, I see so many people just following newer traders into this. Trade the Fed, trade the CPI. Oh my God, guys, you want to run away from the tornado. You don't want to run in it. Guys, every single trading day, be prepared on both sides. Every day before the open. Take a breath. Relax, right? Relax. There's no event that's going to make you or break you. Have a calm, cool, collected mindset going into the trading day. Know exactly what you want to do. Don't deviate from your process. Don't prostitute your money and just act like a professional. Guys, God bless. Have a great night. Have a great trading day. And God's help. I'll see you all tomorrow. Take care.