 And if you look at the weekly chart, this thing confirms 45. This thing goes all the way down to 50. Welcome to Access a 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 Access a Trader.com. Nightly wrap-up show. Hope everybody is doing well. Well, again, it's kind of a rinse and repeat situation. Another pretty steep day for the bulls, Nasdaq, down about 3%. You had the Dow getting wallowed by about a 1% S&P, down 1% and a half. But I think today was more of kind of a drop the bull scenario for the bulls than more aggressive selling for the bears. And follow me on this one. So as we all talk about all the time, especially last night in the video, I turned around and I said, the one thing the market doesn't tell you is when it's finally done, when the sellers are finally tired. And I said, they're not going to tap you on the shoulder and say, hey, by the way, we're going to rally now. And one of the things in one of the common denominators, every potential turnaround, it doesn't mean it's the bottom, but every potential turnaround has, they get some sort of news, whether it's geopolitical or whether it's financial. In this case, for example, CPI was on deck this morning. And if they start to deflect bad news, you could finally start getting a little bit of a numbing effect. And eventually, sellers get tired and the buyers start sweeping up and get an orderly rally for a couple of days or so. And the bulls had a chance to do that today. The CPI came out this morning. They were trying to digest all the inflation data. And the market went red right away. It went down right away. And slowly, but surely, I started talking about this at Morning Strategy. And I said, hey, listen, there's a shot. There's a shot we go green today. Because you started seeing a lot of names started kind of moving away from the lows of the pre-market session. I said, hey, this could be one of those days that we get a reversal. There's a shot. This is an absolute shot. The bulls go green. And it almost felt like the bears after selling four. I mean, again, this is now a very, very good portion of how long we've been below the 50-day moving average. It almost felt like the bears were like, all right, we're going to take a breath today. Let us put our feet up. Here's the ball. Just shoot it, right here. Here's the ball that shoot it. And slowly, but surely, you started seeing very limited resistance in the morning session. And you started seeing all these stocks get stronger and stronger and stronger. And the next thing you know, little by little, the NASDAQ goes green in the day, right? But here's the problem. Nothing was moving up with it, right? And the bears were like, well, what are you guys waiting for? Just shoot the ball. Stop dribbling, right? You always tell kids, like, I've been through enough training session with different coaches and trainers and all that stuff in basketball. And they tell a lot of the kids, stop, right? Stop dribbling so much, right? Make a basketball move. Go to the hole, right? Pass the ball, shoot, but do something. And that's what it felt like to advance the ball. And that's what it felt like the bears were sitting there today and say, look, we're green. We're letting you have your day, right? Just go, go, go. And it was like that for like 45 minutes, maybe an hour or so, the market was going red to green to red to green. And we were just sitting there and they're like, well, nothing is going up. But they're not really, really going down. You know, let's wait. You know, worst case is an inside day from yesterday selling, worst case tomorrow when we were talking about it. In the webinar, worst case tomorrow, we start resumption of selling. And I started putting in all these pivots. I'm like, hey, just in case everything starts coming back in, let's start watching all these pivots. And I think it was like one of those cases of like the bears looked at the bulls after an hour of going red to green after red, red to green, red to green. They said, look, if you're not going to shoot the ball, damn it, we're just going to take the ball from you. That's exactly what happened. And you started seeing a pretty nasty, aggressive decline. That's the most important part is, and yes, you could accept the sell-off on things like Unity software and stuff like that and UPST and the crap like that. That's a growth, right? Growth story and all that. But we started talking about, you guys remember a couple of days ago, a couple of nights ago, this video, we started talking about heavy bets on Apple. Remember that? They're really, really heavy bets on Apple. They were coming for the 47 and 1⁄2. They were coming for the 45s. They were coming in 40s. And I said, this was probably the first time I saw really, really aggressive bets being put in on names like Apple. If you guys remember a couple of days ago, they were coming in for very, very heavy bets on 750s on Tesla. Again, we'll get to individual pivots in a second. But today, right before the really aggressive sell-off, they started coming for, we saw an 18,000 share block being printed for the July 125 puts of Apple. That was at one point, it was 25 points out of the money. Tesla started coming in pretty aggressively. And they were bypassing the 700 puts. They were coming for the 650s. So the aggressive selling continues. The bulls still can't muster any type of traction. Again, it was like a free pass today. It was almost like your wife on your 10th anniversary. I don't know if you guys saw that episode with Larry David. On their 10th anniversary, Cheryl gave Larry a pass. She gave him a one-time pass that he can have an affair. That's what the bears did. They gave you a hall pass, right? That movie hall pass. They gave you a hall pass. And the bears said, here you go. And the bulls just couldn't get an erection. It happens one every four guys has it, right? And that's exactly what happened. Big declines into the clothes. But more important, big declines into the clothes on very, very aggressive option flow and volume in the names that started to break down. So let's talk about today. Again, it's very, very tough to kind of spin this, right? It's very, very tough to spin this if you are a permable. Again, I know a lot of you guys are just permables and you're just waiting for that opportunity or you're watching your portfolio bleed or you're just not participating on both sides of the market. And it sucks. It really does suck. But unfortunately, that's kind of being a byproduct of the last six, seven years linear bull market. You felt like there was no reason to trade both sides of the market. Because again, at the end of the day, it was all about buy the dip, buy the dip work, no matter what you did. Buy the dip was the overall line in the sand and that line was never crossed for more than a couple of weeks. And yada, yada, yada, here we are. And if you look at the weekly view on the QQQs, you can see where we are. We talked about this whole area here. We got a soft landing coming around 288 maybe for tomorrow or the next couple of days. Again, is it possible we rally tomorrow? Look, of course, I've been saying this every single day and every single day, I'm like waiting for this snapback rally and it's like 40 minutes, 45 minutes later. You see it's not coming and you start looking at the pivots back to the downside. And that's exactly what we're doing here. But 288 is the next area to the downside and then you start getting into major, major levels here, 270s and then 260s again. You can't put the cart in front of the horse but this is what the weekly view looks like. And again, if you believe in the theory of stocks trade from supply to supply, well, here's the other aspect, stocks trade from demand to demand to demand. So that's where we are. So let's talk about today's pivots. You know, I'm still, the hell is this? I'm still waiting for Google. I'm shocked Google hasn't cracked yet. There's gonna be a sneaky pivot. The macro number is still this 2240. I don't know why they held this damn thing up. It's still 2240, but there's a sneaky pivot for all you guys in the webinar tomorrow. I'll show you guys a very sneaky pivot here for tomorrow before that 2240 level. Maybe finally the damn thing cracked. So let's talk about that tomorrow. Rivian, if you guys remember there was a pivot yesterday they were coming for the 21, 22 and 21 puts. This morning they started coming for some more aggressive puts on Rivian. So there was a follow through ahead of the earnings. We'll talk about the earnings in a second. Under 21 sees more selling. They were coming for the June 15 puts ahead of earnings tonight. It traded down today to 18 bucks. First of all, phenomenal move. Here is the pivot on Rivian. You know, again, I don't think the, you know, I don't think it matters anymore about the earnings earnings. Don't look great anyway. So here is the $21 area. It snapped the 21 when all the way down, all the way down, excuse me, to the $19 area and started snapping back up. You know, they came out with earnings. They're up, you know, 50 cents from the clothes. Okay, you know, listen, does it really matter, right? Does it obviously even matter? If this thing tomorrow goes right on the day and starts taking out today's range, you could see 16 bucks. It will come in for the June 15 puts. Nothing survives in this state. Nothing, you'd have to have gargantuan size cajones to beat on a, you know, to beat on a quarter to make something like this in a bear market to really work for you. Speaking of bad earnings, look at beyond, look at beyond today, beyond garbage. This is, you know, again, I went through my whole non meat phase, right? And I've always maintained, I love like Dr. Prager's and all these other things. Beyond meat tastes like garbage and I'm sorry. It tastes like hot garbage and yada, yada, yada, hot garbage results on their earnings. What was the other one? The bro, right? The bro coffee. The bros that were coming for the $30 puts right before the close smashed as well. So you could tell the growth stories, they're shrinking. Eventually every damn thing will become a penny stock, right? Everything will be a small cap stocked way at this rate that everything is going on. Anyway, Facebook got destroyed today. 154.19, if it builds below can flush. Here was Facebook, just got, just shelled, right? Here's the 50, here's the 54.20, went right down to this linear regression line of 188. You know, this thing confirms tomorrow, this thing has room all the way down to 175 going into next week. VRTX too thin to trade. It went down like a dollar and then came back up. I stopped watching this thing. Spotify for experienced traders. It's really close to the end of the day. 93.50 needs to confirm. Close, a couple of points down. Spotify, you know, here's the 93.50. It closed right at the lows in the 91s. This thing confirms 91. I think there's still a shot, it sees 83. That's that. And can you guess what the definitely the highlight of the day was? Well, there was actually two, but I missed this sucker when I was at lunch. Tesla, 774, if it builds below can see 756. And not only did it take out 756, right? So here's a 756. Not only did it take out 756, it closed below it trading all the way down to 727. They were coming for the 650 puts. You have to assume, you know, there's the only thing left is 700, right? That's the February 24th lows. There's really nothing left as far as demand before 700. So we'll definitely keep an eye on that for the next couple of days. Again, they bypassed the 700 puts, went straight to the 650s, which was pretty damn aggressive. Apple, I was at lunch. This thing got smashed, 150 held twice. If it builds below can flush. And this was the macro area for Apple. So it sucks that I missed this thing, but here is the whole 150 area and it got taken all the way down to 145.80s. If you look at, that's a huge move for Apple. And if you look at the weekly chart, this thing confirms 45. This thing goes all the way down to 137. Again, keep this in mind. The July 125 puts, they bought 18,000 times. So really, really big move. So there should be a follow-through tomorrow on Apple and 86.20, there wasn't a second entry on the upside. Stay patient, Amazon never got there as well. So yeah, you had some really aggressive moves down. Again, same thing, unfortunately, again, for all you guys who are brand new to trading, unfortunately I've had better news for you guys, especially if you only trade on one side of the market. But this is again, this is where you learn to use both hands, right? Use both feet, both eyes, both ears. Because again, you can't just drive the car one way. You have to be able to parallel park. You have to go backwards and all that stuff is with. So the faster you figure out how to trade from both sides of the market, the better your career and the longer your career will build. Tomorrow, the big earnings is a firm. They were coming with some pretty aggressive puts today, notably somebody bought the 30, somebody bought the weekly 12 puts. So they came in with like 3,600 contracts. So somebody had a nice bet for tomorrow's earnings. And that's it guys. Guys, have a great night. God bless, stay safe, stay focused, more important, stay in business. Guys, have a great night.