 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. Actually, good morning, everybody. Welcome to another edition of the AccessToTrader.com weekend update show. Hope everybody is just alive. Hope everybody's alive. Hope everybody's safe. Hopefully everybody is smart enough to stay at home, practice social distancing. Again, the word, the terminology, social distancing, as I joked around for many, many years, I've been practicing social distancing for 45 years. It's kind of especially human being I am, but all jokes aside, hopefully everybody is doing the right thing, staying at home, and just again, keeping your family safe. The one thing that I noticed about this week, and again, we'll talk about all the individual pivots in all Friday, it was an incredibly aggressive day. I think the biggest thing this week that I noticed that hasn't really happened to me in a very, very long time has been that mental battle that I was fighting the whole week. Usually at this time of year, I usually go on spring break vacation. I usually try to take four or five vacations throughout the year, four or five days including the weekend, so I don't have to miss any trading days, especially like the 4th of July Memorial Day. All those holidays a lot of people take off. The one thing that I was fighting this week was just a lot of mental exhaustion. I spoke to a lot of my friends who have been trading just as long as I have, if not longer, and everybody kind of hit that wall. Everybody hit the mental wall because nobody was able to go on vacation, nobody was able to get any stress release, and it starts to build on your body, it starts to build on your mind. A lot of people, they use, for example, the gym as a huge stress release. Some of my friends are like, exercise freaks. These are couch potatoes, but the ones that they need the gym, they need the gym to kind of get the stress out, lift something, punch something, get it all out of their system to kind of mentally save them. Everybody's been kind of in the same boat. We go to sleep, we wake up, we trade, we go to sleep, we wake up, we trade, and we cover this throughout the week that you could do whatever you want for your body. You can exercise, but your mind is so fragile, you start to wander, you start to start overthinking. All you're doing is watching the news, so everything is building up. And your concentration level, you'll notice, will start getting smaller and smaller, and you will start dwelling on other things that made you consistent and made you successful for years and years and years. It's only natural because when your mind is focused on a lot of negative and all you're doing is consuming negativity over and over and over again, it's going to spill over to your trading. You're going to make bad decisions that you normally wouldn't make. You're going to start trading very loosely instead of more prudently. You're not going to take right profits. You're going to start taking wrong losses and slowly but surely it starts to build up. It starts to build up in a cycle that it's very, very hard to kind of end unless you really, really focus on the problem, try to cut it off. And I noticed by like Tuesday. Tuesday was a very aggressive day. I believe that was the day that the Fed announced that they were buying unlimited mortgages, unlimited treasuries. Like basically QE forever. And we had that big, big rally, a very aggressive trading day. And I was pretty pleased with the day. But then I found myself like this was Tuesday. We're not talking about Friday. We're talking about Tuesday. I found myself in a state of numbness and mental like in a mental prison. And by four o'clock, I couldn't even speak. Like I literally couldn't even speak. And I had a really good day. And I got to the point of I was doing, you know, the preparation work for the next day for Wednesday. And I couldn't put myself in a position to record the video, right, just to give you an idea. I couldn't even record what my thought process for the next day because I was so mentally dead. And I just like went to sleep that night around like nine o'clock. And again, it's amazing how rest is such a great formula. Okay, it's such a simplistic fact and everybody knows, well, yeah, of course you need rest. You need to rest the mind. You need to rest the body. But by the time Friday rolled around, Friday was an aggressive trading day, a lot of action on Friday. I went to sleep very early. And I woke up this morning around 9 30, right, Saturday morning 9 30, I got about 11 hours of sleep. Okay, and I tell you guys, for what we need to do right now, not only as adults to kind of protect our families, but what we need to do to kind of keep our minds sharp. You really do need so many different releases, so many different avenues to get that rest. Because again, unfortunately, we don't know how long we're going to be on lockdown, how long we're not going to be able to go to a movie and go to a restaurant and go to a sporting event. Hell, even just go to, you know, even go to anywhere to a supermarket in normal hours that you normally take for granted. We don't know. So we have to, you know, do our jobs to keep ourselves mentally whole. Or else you're going to burn out. You really are. I mean, people are going to start thinking of all the worst case scenarios. You don't have a traditional outlet to kind of release some steam, and you're going to find yourself burnt out. Okay, so it was very, very, it was very encouraging that I woke up this morning. I felt incredibly, incredibly refreshed. Okay, this is, it was a godsend that I had that 11 hour sleep. So rest is important. Exercise is important. But I think the key to kind of where we are right now is stop watching the news. Like I have no intention to watch the news on the weekends to, you know, to look at news sources. I know it's bad. Okay, I know. I mean, you look at how Corona has really intensified over last week. You had New York and Italy surpassing, right? I mean, surpassing China in cases just like that. And I can imagine it's even going higher today and it's even going to be more expedited, you know, increased over the weekend. So I try not to, I'm going to not look at news today. I'm not going to read any articles today. I don't need that excess build up. Okay, to put more tension on me, to put more stress on me, to put me in a bad mood, where I know I can sustain, I can at least sustain the mentality that I have now, play with my kids, play with my dogs, play some hoops, play some football, you know, even play some, you know, Sony PlayStation with my son, whatever the case may do, a puzzle, play ping pong, you know, play, you know, indoor, whatever I have to do. I want to make sure I'm eliminating as much tension, as much stress. And I think as traders, we should all do that. I mean, if you're right now sitting on Twitter, reading every headline and you're sitting on, you know, on every financial, you know, financial publications, reading what the worst case scenarios are, man, you're doing yourself such a tremendous disservice. So this weekend, yes, of course, it's important to do your chart work. You know, you have to understand where you are. But again, I can't emphasize this enough, be a better friend to yourself. Okay, guys, nobody at the end of the day is going to know what you're going through more than yourself. And, you know, be a better friend, take longer walks, take hot showers, hell, take a bubble bath. Okay, do whatever you need to do to relax, man. It's such an intense business. And even with the greatest bull market runs that we've been on, it's a lot of pressure during the best markets. When you're going to have a market like this, you're going to have your intense pressure mentally tenfold, ten times the amount that's normal. So again, be a better friend to yourself. Understand that again, you can't trade as aggressively as you want. You need to be mentally focused. And there's a time, and again, a lot of traders, because they hit walls, a lot of traders I've been speaking to, you're going to have a lot of inconsistencies in this type of tape, right? Just because of all the moving parts, just because of the mental side, just because of the technical side, just because of the liquidity or the non liquidity, just because the rabid moves upwards and downwards. Even the most consistent trader that's trading, you know, four, five, six years, ten years, fifteen years, you're going to have days of inconsistency. You're going to have more days than normal that you can't get going. And if you are getting going, you're minimizing your profits. Again, all systems back from the mental hurdles that we have to have, you're going to make more mental mistakes. You're going to trade more intervals that are not advantageous to you. You're going to be put in a situation that you are trying to chase results because the market scoreboard is lining up in one thing. So we have a lot of things pointed out to us that are just not for us to usually be successful. And oh, by the way, we can't leave our houses, right? We can't leave our homes. And now we are always at the point of fighting a market one way or the other with the unknown still in front of us. So there's a lot of things going on. But just understand, okay, if you are a newer trader or even hell, a guy like me who's been trading two decades, if you're trading a decade, a decade and a half, two decades, you know what I'm talking about, man. You hit that wall probably at any point last week. A lot of my friends, you know, all my friends are trading between seventeen to what, twenty-five years, right? I mean, we all grew up together in this business and it's the same conversation. Dude, I'm effing dead. I'm mentally dead. I can't even talk. I can't even walk. I can't even get out of bed. I'm so damn tired, right? This is normal. So if you're a brand new trader and you're experiencing, for example, a lot of inconsistencies on a week, for example, that you have to chase the price action if you're long biased because, again, that's the kind of week we had, you're going to run into a lot of obstacles. You're going to run into extra failures and you're going to start to second-guess yourself. But again, the key is to stay normal, right? Stay as much as normal as you possibly can and just understand that every single trader is going to go mentally exactly the same way you are. How you can combat these type of scenarios, combat the less consistency and combat the less amount of exposure you have is really trade on premium days, okay? And what I mean by that is, if you guys remember, for the first three weeks, I've been already self-quarantine now. It has to be, God, what, three, three-and-a-half weeks? The first three weeks or so we had, it was the same formula. If you've been watching these videos over and over, it's the same formula. We gapped down 7, 8, 900 points, right? The average true range of 95% of these stocks are done already pre-market. And all we needed to do was wait for, literally wait for channels to the upside. And we had some crazy aggressive days for the last three weeks, right? Just waiting for confirmation to the upside, taking these pivots. And instead of shorting something down, you know, 30, you're buying something down 30, right? On a confirmation channel and getting back $3, $4, $5, $6 per interval. And you do this two, three times a day. It's a lot easier to understand. This week, fast forward, right? We had one gapped down day, and that was yesterday. And do you guys realize, right? It's not, you know, it's not something that is, was just random. If you guys notice, the best trading day we had, the most value we had, was Friday, right? Because Friday now, we had that 900-point gap down, okay? And we had value to the downside, huge value to the downside. We had value, huge value to the upside. And Friday was one of the most aggressive days that you can possibly remember, because both of the sides won, right? Both of the sides had extreme channels. If you look at the first four days of the week, what do we need to do? Think about what we had to happen, right? You had the Fed announcing unlimited buying back of mortgage-backed securities and treasuries, okay? QE infinity. Then you had, towards the end of the week, you're talking about another $2.2 trillion stimulus package, right? Which again included some really good checks going out to a lot of people who needed to help out with the household costs, some food costs. It will help out a lot of people. So you had all that. So you had a really big run, okay? At one point we had a three-day run that was the biggest since the 1929 crash, just to give you an idea of where we are. So if you look at the scoreboard, right? The first three, four days of the week, the fact that the bulls had this really good run, we were put in a position, either wait for that first gap up to be faded, right? For moves to the downside, or we were in a position to say, well, we have to buy stocks to the upside, right? We have to. And what we saw, I think it was Tuesday into Wednesday into Thursday, what we saw was 1,000-point gap ups. And now you had to say to yourself, well, do I chase Tesla up 46? Do I chase Amazon pre-market highs up 78? Do I chase Nvidia up 26, right? Not the easiest scenarios in the world. So of course you're going to have a lot less inconsistencies for the week. Of course, you're going to run into days that you can't get going, or even having a day that you just made a lot of mental mistakes. Those are the days you want to kind of trade smaller size, trade less, literally trust less in volume, avoid the afternoons. Because again, the biggest, and the most amazing way was, the mornings are the biggest volatility, the biggest ranges, but the afternoon you're going to have the smallest ranges, the smallest volatility, but the smallest ability to actually kind of get anything going. So if you're a new trader, my advice is trade the mornings, see where the value is, see where the futures open up or down. Obviously, the downside is much more beneficial for an upward bias. Trade less, avoid the afternoon. Second entry is on everything, especially if you're trading pivots with us. Second entry is on everything, and literally take cash flow everywhere. So if you're usually taking cash flow a third of your size of 50, 60 cents, maybe take half off, right? Maybe take half off and keep a runner, use break even as you stop, but try to get more proactive in taking profits off the table than sitting there and saying, well, let me see what happens next. Again, guys, what we've been seeing for three weeks, trends of lasting for like three minutes. Sometimes you've got a big upward bias of futures, and it lasts for three minutes, just like that. So we have to, again, nobody has gone through this before, and I said this like, I think it was on Thursday's video, unless you traded in the 1300s during the smallpox epidemic, please don't tell me your opinion of what do you think is going to happen next in the stock market. Nobody knows. You can't forecast the future four weeks from now, let alone four days from now. So again, save that energy, save the mental equity, save your money for premium days. You're a newer trader. Again, this is ironically the best market you'll ever trade in, or at least learning because you're building your foundation from the bottom up. We're not building our foundation from the roof to pouring the concrete. It has to be the right way. You have to be much more responsible. Take value setups, high probability, sit on the sidelines when you can. When the structure breaks down, eliminate those days. You don't need to trade every day. You don't need to trade every candle. Stay patient. Stay at home. Stay alive. So let's talk about Friday's pivots. And first of all, before we go into Friday's pivots, this is what we need to happen as bulls. As we need to happen as bulls, and then I'll tell you what happens, bears. On the bullish side, we have to reclaim. If you believe in this is the bottom, the generational bottom, maybe it is. Maybe it's not. We have no idea. I personally don't think it is. It doesn't matter. It doesn't matter what I think. If you do believe this is a generational bottom, and you look at the scoreboard at the end of the, despite the 900-point decline on Friday, you had the Dow up almost 13% of the week, really, really big moves. The Nasdaq 9, the S&P over 10. If you look at where we need to hold and what we need to do, this is kind of where it gets pretty clean for the sentiment for the next week. So if you look at Thursday's high, it hits supply perfectly, right? It hits supply right over here into this declining supply of roughly 192.72. For the bulls to get more footing in, if you believe again this was the kind of generational bottom, what needs to happen is the bulls need to reclaim this 192.72, 193 on a close, and then you possibly have a measured potential to all the way here, the next supply zone, which is roughly 199. So this level here is very, very important. For the bears, okay? For the bears and obviously for the sentiment to continue to sour, continue to shift to the downside, what the bears need to do is reclaim the five-day moving average, which is roughly 182.70. Any close below the 182.70 level will obviously start a sell signal, obviously have the cattle behind it, and in any close below 179, this is again, for all the guys who've been watching the workshops, you know the 10-day moving average to the upside is the birth of the trade, right? The 10-day move to the downside confirmation will be bad, okay? Will be bad, and if any close below 179, we got room all the way down to the 159 level, which is the 160 level that we've been talking about in nausea in every single video, right? This 160 macro trend line. You know, again, 192 to the upside close, macro 179 close below, these are the levels, everything else obviously, take cashflow both long, both short. So let's talk about Friday's session, very, very aggressive, okay? Incredibly aggressive, the shorts at the open were phenomenal, okay? Phenomenal, they weren't going down, they weren't going down a dollar. They were going down in dollars, especially bowing. So we got them, and by the way, I think it really helped a lot of people. Like I spoke to a lot of people Thursday, Friday, man, people were like, yo, I'm so tired, Dan, I'm dead, I came a move. I think Friday's session really helped kind of energize, right? At least, it's almost like a vitamin B shot. A lot of traders, we caught a lot of big moves at the open. Whatever you traded, I traded bowing at the open. That was a waterfall, absolute waterfall. So it felt really good mentally, okay? It really felt good mentally for Friday's session. A lot of big movers, and I think it was necessary. It was almost a necessary jolt to the mental side of a lot of traders, to going to the weekend, kind of on a good note, to get some rest, to feel good about themselves, at least for one day of really good, aggressive action. I mean, we saw some pretty decent action this week, but Friday was like, you know, the really cherry on top and kind of maybe mentally reset yourself easier going to next week. So this was my plan for the initial move, initial value obsolete to the upside. Then we will reevaluate downward channels. Nice and calm. I said nice and calm. It's Friday. Mentally has been its long week, right? Long week, no rush. And if you've been watching, especially the weekend video for years, for years, I've always said, I don't know why, but Friday has been, Friday's has been a really aggressive day. Don't ask me, this has been going on for years now. And Friday morning, the first two hours, I know a lot of you guys were pretty much done in the first hour of the day. It was ridiculous. It was really, really ridiculous. So I caught Boeing, you know, this was a big move. I mean, this was a really, really big move. 173, 172 needs to build for possible aggressive back test. I think the stock still, especially if it confirms Friday's action on Monday, will go down lower. So 173, 173, 172 needs to build. I got short off that second entry off that 170s level. And the stock got killed. I mean, the stock got really, really killed. Boeing had this really big run. So here is the pre-market lows. Here is right here, right? So here is the pre-market channel. You can see it here. 175, 173, 170, 173.04, 174. So I said 173, 172. I thought it had a shot to get to one, I think I said 159, 163. I forgot what the next intermediate level was. So it started building, right? It started building and just destroyed. That first candle, guys, was, you know, $17, $15, just an absolute huge move. That's obviously going to be the pivot going into this week. And again, if it confirms Friday's price action, you could get a move into the rising five-day support of roughly 145, 146. So that was a big, big trade. 87, Roku 87 yesterday's low. If it builds below, it can flush. 80 is the next support. It's still the next support. Okay, if the market collapses, 87 was yesterday's low that needs to build. Here was Roku, right? So here was Roku right here. It took out this whole 87 level. Everybody see that, guys? Right here, this whole 87 level. 87, 87, it was 86, 90, but 87, 87, 87. So it took out that 87 went all the way down to 83. Big move there as well. IGC, here's the most ironic part. Like I knew they were going to pump IGC. The pot stocks were strong. I didn't wait. I actually lost three cents on this thing. I didn't wait for the 65, 60 cents, 66 cent build. I bought it at 60 and I wanted to lose in three and a half cents on it. Go crazy, huh? And then you saw the volume came in. I know somebody pumped this thing. It went from 75 to like, it went from 65 to 75. So if you didn't screw it up like I did and kind of jumped the gun on it, you probably made a dime on it. Just a monster. 149.50 needs to build. ZM went nuts. ZM went absolutely nuts. Here was the 149.50 right here, right? 149.50, it was the top of this whole channel. You could see here, 149 here, 149.50. It took out the 149.50 and exploded all the way up to 155. Huge move on ZM. Apple, again, you could just see it was one by one by one by one. Apple, 251.15, 251 needs to build. The flush. Here was Apple. Here was Apple right here. So right here, where are we? Here, 251, right? 251.30, 251.20, 251.20. It took out the 251 and went all the way down to 248, right? So that was a big move there as well. And the video didn't work. The video didn't work. 249, if it builds below, can flush. It only went down. It only went down to, here's the video. It's such a strong stock. Where the hell is the pivot? So, 42.51, that was the 251. What was the price? Hold on, 259. No, 249, right? 249, yeah, so 249, 249. It only went down to 248.68 and then jumped back up. So that one didn't work. That one didn't work. And then things started turning to the upside, right? Things started turning to the upside. Netflix, here's the first of two Netflix pivots. Netflix 359.11 needs to build to get a move, to a possible move to 61.30s, right? So here was Netflix. Here was the first Netflix trade, right? So here was Netflix right here, okay? So here was the 261 right here. Here was the, excuse me, right here, 259, right? The 259.11 area. It takes that out and goes right to supply, right? It goes right to supply of 361.21. So that was the first pivot on Netflix, okay? Big move on obviously Boeing, Apple huge move down, $3.00 candles, big move down, big move on ZM. First move, like I said, 359.11 needs to go 361.30s. I said right to supply, big move on Roku, again $4.00 move on Roku. And I said here comes 162.163. It actually went down to 155. Take on the way down, New York Times Post, New Lowe's on Apple, New Lowe's on Apple. And here is where I thought they were going to run up Netflix. First of all, I only watched the first episode of Ozark. If you've never seen Ozark and you're bored out of your mind and you're looking for content on Netflix, you got to watch Ozark. If you haven't watched it, this is the third season of Ozark. One, two, and the third one. If the season three is going to be as good as the first episode, good God Almighty. This is going to be a phenomenal episode. So I said, hey, Ozark is debuting tonight. They got a lot of downloads recently in the last couple of weeks of Netflix. Also that Tiger, I haven't seen that Tiger show, but I said, look, if this thing builds that 361.30, it can go, right? 361.30 it can go. Here was Netflix off that 361.30 exploded, right? It exploded to 368. Big, big move on Netflix. Okay, take on the way up, right? Take on the way up. It goes right to supply. It actually went to 368, but I said 366, 367 supply. Obviously this is going to be big numbers for Tesla towards the next week. Those 497, 494 levels are going to be very, very good for next week. Obviously it didn't trigger. And I said, look, I'm going to call it a day. You know what I mean? I'm going to call it a day. Very aggressive action this morning. Mentally, we need to pick spots to recharge. No better time than the weekend. Make sure to be a better friend for yourself. Down time is absolutely necessary. May God bless you and your families. I was done by quarter to one, one o'clock eastern time. And obviously a great job. A lot of you guys caught a lot of these pivots. So really, really great job. Again, guys, the key to the game is being mentally sharp. Do not watch the news on the weekends. We know what we're in for. Believe me, we'll find out if something better has changed. You got to have faith. You got to believe that God is testing us. The character of a human being is not when things are going good. The character of a human being is how much we can get punched in the face. Take the blows. Take more blows. Get knocked down over and over again. And learn to get up every single time. So I want to send positive vibes. A lot of prayers to all your family, your friends. You'll love ones. Stay sane. Stay happy. One day at a time. Stay home. And God's bless. I'll see you all on Monday. Take care, guys. Congratulations for putting in the time to take control of your trading. You're one step closer to owning your future and achieving the success you desire. Want daily trade ideas directly from Dan? Straight off his personal watch list? Unlock our free PS60 vault where you'll get nightly updates on pivot opportunities we're watching for the next day's session. Click the link in the description to get started today.