 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, happy Monday everybody. Welcome to another edition of the AccessToTrader.com nightly wrap up show. Hope everybody had a terrific weekend. Hope everybody had a good trading day. Like always guys, please support channel, follow, subscribe, like, all that good stuff that helps us along the way so we can continue to give you an unbiased opinion of the markets. Let's start with the tape. So if you watched the weekend update, we talked about buyers got a little bit tired. Thursday and Friday's clothes both kind of sold into the clothes, which kind of set up today's action. Like I kind of thought going into today's action just as so many top heavy charts that we were going to have a res day. I still believe there is just because gravity is a lot. If you watch the weekend update, you kind of, you kind of go into my thoughts a little bit more depth, but I do believe there could be a three to 500 point move to the downside on the Nasdaq 100. But the first part of this move and you look at the scoreboard today, Nasdaq was down 1%, which is nothing. More important was they didn't gap up, right? I was looking for that gap up stuff, go green to red, lose opening range and absolutely get hit. We didn't get that, right? We absolutely didn't get that. What we did get was, you know, a small modest gap down today on the Nasdaq and slowly what they did was just kind of crawl back into the rising five day. Again, if you are brand new to the channel, the five day moving average, not a lot of people might recognize it or encourage it or use it or, you know, use it for what it's on a day-to-day basis. For me, it's pretty important because it does show who has control over short-term sentiment. The key word there is short-term, right? Again, we are way above the 50-day moving average on not only on the Qs and everything else and not only way above the 50, we're above the 200 as well. So I still believe, you know, I still believe we might get one more day of backtesting. The good part about that other side of the equation is we did hold the five-day moving average. So I think the key level is that we have to watch going into tomorrow, not only tomorrow, but the next couple of days. If the bulls did kind of just retest the five-day moving average and hit this five-day, and again, that's kind of the low of the move. Then the Qs are, you know, the bulls are going to have to reclaim 306 to the upside, right? Everybody see the top of this channel here? Okay, that was the highest point of today's channel. And if the bears are, I don't even want to use the bears, but if the sellers could come in for one more day and kind of get this a little bit more meaningful to retest a little bit better, then the Qs are going to need to lose the five-day moving average today. And if they could start losing this 302 level, then I think we will get that, you know, meaningful slide into this 296, 297 level, which will be the rising 10-day moving average. And again, at the end of the day, I'm bullish, right? How can you not be bullish after this run? How can you not be bullish after this construction even on a red day? But again, if we identify ourselves as traders, and that's what we are, okay? We are trying to take advantage on both sides of the market. We're not biased, you know, we're not, you know, our world's not going to start or end if we are wrong. The point is we are watching levels. We know the upside level 306. We know the downside level here of 302. One of these is going to get confirmed the next couple of days. And the reason why I'm using this day as a barometer is because this is the day we tested the five days. So either bears or these sellers are going to get control, start taking down this 302 level to get potential to this 10-day moving average, or the bulls are going to kind of nullify this little three-day back test into the five-day reclaim back to 306 and we start running again. So that's kind of what we're looking for. And if you look at the majority of charts, they're going to mirror what the queues are doing. And if you trade it, if you're a beta trader like I am, and I trade, again, 90% of all my trades are literally the same eight to 10 stocks, you can see how there was a very muted reaction all across the board. We talked about Amazon on the weekend update, naturally being the weakest one out of anything if there was a pull. You know, you got the opening range pull all the way down from this 102 area when all laid down to this 100 and change. So you kind of played that off that. But everything else was just kind of in the middle of the range. You're not going to get a good feel. You're not going to get a very aggressive day when everything's in the middle of the range. Even Tesla that is holding up super-duper tight, right? And all the buyers are coming in. You see these massive bets coming in. They weren't even betting the 200 weeklies today. They skipped over the 200 and said, hey, we had enough with the 200s. They were betting today the 210 and the 220 weeklies. I mean, that's a big, big move. And the one thing that I keep on thinking to myself, and I say, well, it logically does make sense, right? The longer it stays like this, the better the stock is putting in higher lows. And that's a great thing. But I always go back to the playing devil's advocate, and I always turn around and go, look, if this thing starts building above that 200 level, should it get a pop into the 205, 207, 210 level? Yeah, I think it should, right? I don't think there's any question about that. But I always go back to the theory. I was like, my God, everybody's watching and waiting for that 200 level. I'm pretty sure my mother called me up this morning and said, hey, Dan, is 200 still a big spot? So the way I look at it and the way I look at trading is that the retail public is always the last one to know. It's like the pawn, right? It's like the pawn on the chessboard, right? It's not the king who dies first. It's always the pawns. And retail always sets up the pawns. So if I'm looking at 200, and you're looking at 200, and Joe Blow is looking at 200, and Joe Blow's sister is looking at 200, and everybody piles in 200, what's going to happen, right? What's going to happen? And that's the million dollar question. So is it possible that Tesla pushes to that 200, everybody gets stuffed? And next thing you know, we're putting an incredible aggressive candle back to the downside. That's on the table as well. I'm going to give Tesla the benefited doubt over the next couple of days because we are seeing such incredible aggressive bets for the two times for the 220s. But in the back of my mind, I keep on thinking, man, if there's some, you know, there's 3000 people looking at the same level. So that's the only red flag I'm getting about that 200 level on Tesla. But hey, I'll give it the benefit of the doubt. Hopefully, once it gets to that level before it gets to that level, we have an opportunity to get a kind of a sneaky pivot before that. So at least if it gets stalled out around that 200 level, whether it's this week or next week or next couple of days, at least that worst case scenario, we have a buffer and we have a little bit of a spread to kind of play around with. So, you know, again, I'm having a little bit of mixed feelings on Tesla. However, you know, the market continues to, you know, to really continues to push the envelope with speculation money, all these. And by the way, as I'm about to talk about BBBY, I don't know what the news that just came out, but BBBY just got is getting absolute destruction of a candle. But before there's destruction of a candle, you can just see how much speculation money there was today, right? Speaking of BBBY, you know, again, they were coming for before the stock just got imploded here after hours as we're speaking. The stock literally won today from $3 from three to seven, right? It really does show you how much. Wow, this thing is really, really getting hit here. I don't know what the news is yet. I'll have to check after I stop recording. But boy, oh boy, this could definitely put the put the needle into the speculation money flow. But you could see how much aggression there is continuation in the continue. I'm guessing this is an offering. If I had a bet before I log on, I'm guessing this is an offering. This is getting destroyed here, BBBY. But the point is speculation money continues to roll in the AI stocks are continued to be strong. And even on a day that the, you know, the pretty much every beta high tech, you know, high tech mega mega technology name rested, you could see this other parts of the market that you could you could take advantage of. So that kind of brings me into tomorrow's session. I really don't love anything for tomorrow. I really don't because again, I'm still looking for the confirmation of the cues one way or another. If the cues start losing the bottom of the channel, especially the five day moving average. Yeah, of course, I'll watch Amazon again. I'll watch anything that had a channel that has been defended several times. Tomorrow going into tomorrow's sessions. It's not one of those days. I love something like I'm dying to do something like look in the video, right? The video is how to monster on has been showing some good weakness, some great strength, right? And you see this little baby flags building, right? And I get it. This is probably going to blow their numbers away next week when they come out earnings. They were coming with the 220s, 225s, blah, blah, blah. You see how many times it's held the bottom of the channel here and held the five day. My point is if this damn thing loses the five day, we could get a nice trade on this thing. Again, like I said, nobody's talking about stocks going back to lows. We're just trying to take advantage of the downside while the downside is giving us the ability or at least giving us a clear look to view. I would love to see these stocks probably take one more day off and start maybe ramming up maybe after Powell's speech. I believe Powell is speaking tomorrow at noon. Last time we spoke was Wednesday. A phenomenal, phenomenal monster moves. Hopefully Powell continues that dovage tone, although sometimes he can make some hawkish comments. But at the end of the day, guys, remember, when the market rests, you rest, right? When your research is telling you for the next day, like my research is telling me for tomorrow's session, it might be very lackluster. It might be tug, you know, pull and push and push and pull. Those are the type of days if you are a believer of expansion days, right? And the days that the market is giving you aces. Tomorrow is setting up like the market's giving us a 2-7 offsuit. Again, I could be pleasantly wrong and I'm okay with that, right? I'm always wrong, right? It's okay to be wrong. But the point is going into tomorrow, curb down your expectations a little bit. I'd like to see how the bulls handle the five day moving average on the Qs. Obviously, if Qs get lost, then I will go into at least the sell bias for the day, right? For the day, at least for the trade, for the least for the interval. Again, overall, I'm still super, super long bias. But again, I do understand the ramifications of gravity. I do understand how big this market pull was, or excuse me, how big this move was. And if we do lose the five day, I'm also conscious of what happens if one side of the ledger loses, right? Loses the five day moving average or reclaims it. We understand what should happen next. That's it, guys. That's it. Sometimes you have to learn how to get aggressive. You have to learn how to stay passive. And the most important thing is, guys, learn to rest. The market rest, you rest as well. It's all about in between the ears. And sometimes a decompression day is much more valuable than trading. That's something that is giving you a 2-7 offsuit. So, guys, have a great night, everybody. God bless, stay healthy, and I'll help. I'll see you all tomorrow.