 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 the AccessToTrader.com weekend update show. Hope everybody is doing well. Hope everybody is enjoying life. Hope everybody's happy and healthy. And hopefully guys are doing some pretty good things advancing in your career, which is the most important part for any industry. If you are brand new to the channel, guys, thank you very much. Take a second, all we ask is take a second to like the video. If you like the concept of unbiased technical analysis, all we ask is for a like, share, subscribe, and share some details of your journey. I think most traders would definitely benefit from another trader's point of view. If you are interested in pivots or curious, have been kind of watching this broadcast for a while or following us on social media. Again, this 30 days, kick the tires, get behind the wheel. I would love to expose you to the wonderful world of pivots. You'll quickly see in the first week and a half or so if this is a right fit for you. There are pretty, pretty cool and it's definitely an alternative from the quote unquote normal. So again, there is a link below and you guys can try it out. So let's talk about the tape, right? Market continues to go higher. Nothing new. Nothing really earth shattering is going to be about this broadcast. Nothing has materialistically changed. Earning season is just kind of moving along. The majority of high beta mega cap technology names have reported pretty darn good. Earnings, the reaction to those earnings, even if they initially miss price action have been absolutely stellar. We'll get the one that's a little bit interesting, but we'll get to that in a second. As you can see by the closing bell, this is the first close on the SPX over 5,000, right? A lot of people thought, well, at 5,000 should get rejected. I really wasn't one of them. I really don't pay that much attention to the indexes as far as mental areas of interest. I really don't buy into that, but a lot of people have been shorting this market on the way up, have been shorting this market on the way up in 2023, and these are the same people in 2022 that were buying dips. So again, at some point, you have to realize one thing, the trend is your friend, right? It's just as simple as that. The trend is your friend. Don't try to pick tops. Don't try to pick bottoms. I think eventually, just because of my experience in rabbit bull markets, we know how this is going to end eventually. We know, right? It already ended tragically for most of us who traded during the dot-com era. It ended really, really bad for all you guys who started in 2020, 2021, that 2022 bear market was ridiculous if you did not trade both sides of the market. So this eventually is going to end. One is going to end, I don't know. I really don't care. I really, really don't care. Enjoy this, right? Enjoy this now, because if this market ever returns, yeah, I'm comfortable on both sides of the market. 2022 was a great year. The market was beyond selling. That's the way to describe it. It was 85%, 90% of the time underneath supply and just tremendous action to the downside. But for all you guys who are sitting there and sipping the Kool-Aid and thinking, you're doing something right, you're not doing anything right. I'm not doing anything right. The market's making this right. Just the same way it did during dot-com. It's the same way they did during the 2020 pandemic rally. The market is just exaggerated. It's just exaggerated to the point of insanity, right? But it is exaggerated. And I've learned one thing through my career very, very quickly because I made a lot of mistakes in the first 10, 15 years. And that is the market's never as good as you think. It's never as bad as you think. Eventually, things kind of even out and it becomes even keeled. But enjoy this, right? Enjoy this because eventually the market will turn and it's going to give us an incredible, an absolute, epic backside trade, but it's not going to be tomorrow. Well, definitely not going to be tomorrow on Sunday. The way the markets usually blow off the top, just to give you a kind of a little bit of synapsis through my experience, it doesn't happen on one day. It's usually something called a rounding top and you start seeing a lot of exhaustion cycles, not necessarily polls, but you start seeing a lot of exhaustion channels. And usually the rounding top usually lasts for about four, five, six days. And then finally they pull the plug when there's just absolutely no more juice. So it's not going to be a one-day event. Anybody who's telling you that it's going to be a one-day blow off top, that doesn't work that way, especially on not any forward market like that. So start keeping kind of a journal. Start looking at indexes. Start looking at individual names when they start getting tired. They just can't rally anymore with the features. At least then you'll start getting an inclination of maybe something's potentially going to happen. But keep this in mind, guys, for all you guys who didn't participate on the short side in 2022, the whole cash is a position, right? And those people who were shorting the market or not buying the market in 2023 because they didn't believe the rally was real. And now these are the same people in 2024. I'm all in, right? I'm all in at any price. And the price action right now is paying those people who are all in, but eventually it's going to end just like every other bull market run. But just be happy, enjoy this move. Maybe it lasts for another couple of weeks. Maybe it lasts for another couple of days. But the point is enjoy it because when it does finally gas out and the bulls just get tired, right? When the buyers get tired, it will give us an absolutely epic backside trade. So that's that. Other than that, let's talk about individual names. There's no reason to cover the indexes. They're all up. They're all closing at eyes, right? And the market closed the week incredibly strong. I think the NASDAQ was up. I know the Dow was down. Again, nobody cares about the Dow. At least I don't. NASDAQ closed on Friday up another 200 points or 1.2%, just an absolute astonishing rally. And these are kind of the fine points we got out of the week. Let's start off with Microsoft. We talked about Microsoft all week, busting off recent highs. They confirmed the 415-30s level. Anyway, we'll get to the pivots in a second. Really, really big explosion. Amazon, we talked about it was just imminent, right? It was just a matter of time that it was going to wake up from its earnings kind of little distribution channel. It did that on Friday. Nvidia is closed at $2,000 a share. Okay, I woke some of you guys up. Obviously, it's sarcasm, but is it really, right? And stock is $720 a share, just an absolute rock star. Again, nobody knows when this gravy chain is going to run out. They do come out with earnings, I believe, on February the 21st. Again, the question is, we'll cover this a little bit closer towards its earnings release. Is it priced in? Is it priced in? We'll know. We'll know very, very quickly on its earnings day. Names like, for example, let me see, names, for example, like AMD is very, very close to busting out and confirming this 10-day moving average. The one enigma, and so it's a little bit interesting here, is Meta, right? So as we talked about last week, it was just a matter of time that Amazon and Meta were going to wake up from their earnings distribution, right? And Amazon did. Amazon had a really, really strong move on Friday, but Meta didn't. And Meta didn't participate in the last three, four days of the week. And the question is, well, what the hell is going on there? It's a rhetorical question. Nobody knows anything, obviously. You know, there's a whole theory. Maybe Zuck is selling stock, blah, blah, blah. They did come out with their first dividend distribution on their earnings call. I want to give Meta the benefit of the doubt this week. Maybe they were just trying to clear up a seller. Whatever the case may be, we don't know. I'm going to give Meta the benefit of the doubt this week. I'm going to give it a couple more days to see if it could finally wake up and test those earnings highs. Because again, if you see, for example, Amazon, when Amazon broke its earnings highs, it absolutely exploded. So we're kind of watching for the same trade of Meta. I'm still waiting, right? I'm a very patient man. That's one of the great attributes I do have is a lot of patience. But I tell you, man, the longer it cannot wake up for a second run, the higher probability loses the five-day moving average. Like we talked about a couple of videos ago. I will be ready on both sides. But I definitely want to give Meta the benefit of the doubt this week and see if it could finally wake up. Is everything exploding? No, not everything exploding. If you look at Tesla, if you remember, if you guys remember Monday's video we talked about, it was actually literally the title of the video. Tesla put in a short-term bottom, but just because, again, you put in inverted hammer. And look, is this the smoothest move up, right? The stock has gone from 175 to 194. And it looks great on paper. For all of us who trade Tesla on a day-to-day basis, we're not getting those four or $5 moves, right? We'll get to the pivots in a second. We're getting $1, $2 moves on this move. Again, it's a sloppy move up, but it is a move up. And obviously the channel here at the end of January is going to be a big number for a potential more of an extended run if the market continues to give that extended run. But again, not the prettiest, not the easiest thing, but $1 or $2, you know, we'll take it. We'll always take it per move. Like I said, AMD, again, very, very close. It needs to reclaim back the 10-day moving average. Again, if you guys have been watching these videos for years, you kind of know the 10-day moving average is the birth of the trade for me. So we're watching for a really good confirmation on AMD this week if they could reclaim back the 10-day. It gave us a trade on Friday, but not necessarily. It was already sold or extended for that candle. It kind of lost a little bit of juice. We're still definitely watching AMD this week. The one that could really be good this week, just because where it is on the formation is Apple, right? If you guys notice, every stock that kind of disappointed on earnings, Microsoft, Google, right? They all kind of reclaim back their supply zones and rallied. Apple is the last one underneath the 50-day. Here is the key, and this is why I'm saying this could potentially be the best value for technology for this week. If Apple, other than Meta, if it wakes up, obviously, but if Apple can reclaim back, if you guys notice on February the 7th, it got rejected off the 50-day moving average. The same way it got rejected off the 50-day moving average on January the 30th, and it just never went back up. If it could reclaim back the high from three days ago and reclaim back the 50-day moving average, Apple could start waking up, because if you guys see right here, the last time Apple reclaimed its 50-day moving average was January 18th, and we went on a run from 189 to 196 in five days. So I'm definitely, definitely watching Apple this week. Any close above the 50-day moving average is a really aggressive buy signal, especially in this type of a runaway market. Another group that's been really strong, starting to get really strong, is the AI group. Obviously, NVIDIA has been the poster boy for really, really strong moves, but look at AI. AI really had a big move on Friday, right? Came out of this range extremely well. This thing is very close, I mean really, really close to busting this whole January formation and reclaiming back the 200-day SMA. That's a biggie right there, right? That's a biggie. We want to watch this thing this week. It doesn't necessarily have to happen Monday or Tuesday, but guys, set alerts, set alerts for AI. If it can reclaim back the 200-day moving average, again, look at the last time it reclaimed the 200-day moving average, back in December, the stock literally went from 29 all the way up to 34, right? So again, these levels are huge, folks. And again, it has nothing to do with the PS60 theory. These are just basic levels of technical analysis. No matter how you trade, they're going to be very, very important in your journey. So I'm definitely watching AI this week. Look at another name. The Leap Path is also in the AI space, right? Big, big juicy setup here, really, really close to busting out. Keep an eye on this thing this week, because if this thing starts building above Friday's channel, this thing can wake up as well. So we're definitely set up for this week. There's a lot of juicy setups still out there. And the key is, again, just take it day by day. Take it trade by trade. Don't try to predict where things are going to be a month from now or a year from now. Just take it one day at a time. The easiest way not to get pulled, right? Not to get run over by that truck that you don't see coming is take it day by day. Two other names I want to talk about really, really quickly before we get to Friday's pivots are Disney, right? Disney had a great quarter inside day on Friday on little less than half the volume. Watch this thing this week, guys. The same trade as Amazon, the same trade I'm waiting for on Meta. But again, had a big move into earnings. Now let's see how long the distribution is going to be. Probably the best bet is probably one or two more days of going sideways and then waking up. And the second one watched this week is Arm, right? And obviously we're going to look for a weakness into rising daily support to get some of those names as well. But Arm is the same thing as Disney had a great quarter. Inside day, let's watch this thing for this week. Let it go sideways a little bit and then we're going to look for potential another explosion. So that's it. Some great setups on tap for this week. And again, for all you guys who are joining us, guys, just click the link below. It'll give you a 30-day trial to the PS60 theory. Again, we're the only ones on the planet who trade these pivots this specific way. Unfortunately, you can't find it on YouTube. You can't find it from somebody else. This is a very, very proprietary way of trading. And we found a little bit of an arbitrage on these channels that give this very, very specific little edge. So again, if you are interested, guys, I look forward to meeting you guys on Monday, right? So let's talk about the pivots. Again, Amazon 172.50 earnings highs needs to build. Here was Amazon took out the earnings highs and just absolutely went nuts, went to 75. This thing starts getting above 75. This thing's going to go more. We started buying for the 180s for March and April. Really good looking trade there. Meta, again, didn't go. Just didn't go here watching Meta. Tesla, nice little pop on Tesla. But again, it's my whole point. A dollar or two, nothing big here. 191.61 needs to build. Here was Tesla took out the 191.61 trade into the 94s. Again, it's just stone throws away from starting to fill in this January or December gap. So it's going to be very, very interesting to see if they could start confirming that. But listen, a couple of bucks is still a couple of bucks. NET never got to pre-market highs. Another earnings name. Microsoft went nuts. 415.60 needs to build. Here's Microsoft took out the 415.60, traded all the way up to almost 421. This thing looks higher as well. Nice little pop. I traded AMD. Nice little pop. I think it was a little overextended, but 173.88 huge area needs to build. So it took out the Seoul 73.88 level. It popped into the 75s before a completely reversed course. But still, this is the highest close in the whole formation. It just needs to now confirm the 10-day moving average. And I believe that is it. I believe that is it. Yeah, I believe that is it. Everything else we talked about throughout the week. Carvana had a really, really big push. I forgot what other names we discussed. But again, it's a really good market. It's a very good market. Again, guys, enjoy it. It's not going to last forever. We're going to be super prepared for the potential rounding top whenever it comes. It will come eventually. We just don't know when. But I do know the signs. I can recognize the signs a mile away because I've been getting caught in those signs for the first 10 to 15 years of my career. And going on year 25, and my 25th anniversary is slowly approaching some kind of just really taking a step back that really appreciate how long the journey was. But it has been a journey and everything else that I went through. It was all worth it, right? It was all worth it at the end. So guys, have a great weekend, everybody. God bless. Enjoy the Super Bowl. Have a lovely, lovely Sunday. And with God's help, I will see you on the field on Monday. Take care, guys. Have a great weekend.