 We can't go higher without retesting, right? Here is the test, the reclaim that we had on the CPI number. You know, no strong rally continuation can happen. 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 TheAxisTrader.com. Nightly wrap up show, hope everybody is doing well. Today I am a single parent. My wife is out of town for the day. So I'm gonna make a quick update and start taking my kids to 36 different practices or at least one each when I'm done here. So right before we get started guys, again, if you are new to the channel, please subscribe. If you are continuously getting value, click a like. It'll definitely help us out and support the movement going forward. So let's talk about it. Last night we talked about two big areas, right? Significant areas in the Qs. We had the 280 lows that were held twice. That was the pow, quote unquote, pow bottom from about six days ago. Then we had that 1279 low that we had from the bottom range before the CPI, right? So it was very, very important today that in my opinion that we would have taken down both levels, tested the 50 day moving average and then had at least a conversation, right? Had at least a point of reference to say, well, you know, we took down this level. We hit the 50 day moving average. Now we know what the line of the sand is. And now if you are trading from the upside, you could use today's lows, you're out. Or if you're trading to the downside, let's wait for today's confirmation. The problem is nothing got decided today. It was like, you know, it was like watching, like I'm a big Mike Tyson fan. I think a lot of you guys who grew up, you know, in that era was a big Tyson fan. But nobody in the hell wanted to watch Mike, you know, 75 year old I'm joking, Mike Tyson versus Roy Jones. You remember that fight, right? They looked okay. They looked like, you know, kind of a mirror image of what you thought a fighter looked like, but they didn't look themselves. And that's kind of what today was. Nothing really got decided. Nothing really looked like it was the same. It was just one of those scenarios that we tested the levels and you can see this. We tested both levels twice today, twice we held, but we couldn't rally. And then we tested it again back. And then again, it couldn't rally. We saw a lot of things going on today. We saw minor data come out. There's another jobs data point tomorrow, which is ridiculous. It's absolutely ironic. It's moronic considering we just had a jobs data report only last Friday. So okay, whatever. Again, we all understand the Fed gets paid by the word. But it's one of those situations today that nothing really got decided and we need a little bit more data. Again, what I want to see, what I think even the bulls want to see is, before any continuation of potential rally, right? And we could even talk about closing strong in the fourth quarter. I do think we still have to test this 50 day moving average. You could see again, we tested both the levels we talked about last night and we didn't do anything. And we closed literally within 20 cents of yesterday's loss. So it's not like we progressed today in any way. And it's not like the data that we saw today from the macro point of view kind of helped us out. So we're kind of a little bit of a limbo. Having said that, again, it's very, very tough. Like I said, two nights ago, like I said, last night is very, very tough for me to turn around and go, well, I'm super bullish going into tomorrow. Again, if we at least tested the 50 day moving average today and balanced at least you had a reference point where to have your max pain, but we didn't even get that. Okay, so I'm trying to kind of get the same plan that I had yesterday, right? The same plan that I had last night for tonight, right? Let's see, let's see if we do get a gap down and they hold this to 77 level, because this is the big number, right? This is the big number here, the 50 day moving average. Again, nothing, we can't go higher without retesting, right? Here is the test, the reclaim that we had on the CPI number, you know, no strong rally continuation can happen most of the time, okay, without a continuation, at least the back test and hold reclaim trap and go higher. The flip side, like I said a couple of minutes ago, if that even does happen and we have a following day that confirms it, well, then there's a whole different narrative, a whole different conversation that we possibly could have if we do eventually have a close below the 50 day moving average. And as I say all the time in the webinar, once it gets below the 50 day moving average, just rip out your buy button, right? It's just kind of, and you see the data, all you have to do is go through your own charts and kind of see the data over and over again, what happens majority of the time when the bulls are below the 50 day moving average. But again, we're not there yet. Again, I don't want to put the cart in front of the horse. So going into tomorrow, again, same plan as for tomorrow, weak stocks that are breaking down their ranges. I want to watch for tomorrow, right? Again, is it possible we rally tomorrow? Yeah, of course it's possible, but if we're going to rally, don't we need at least the retest of this 50 day moving average? And that's the whole point. We have to retest that 50 day moving average and successfully defend it and then trap to go higher. Again, I don't see how we just stop in midair and start going higher, but again, this is the market, anything can happen. So if you look at the ranges today, right? If you look at the ranges, yeah, there's some good things, right? There's some definitely good things happen today. There was some names that broke down. Apple, keep an eye on Apple guys, right? Keep an eye on Apple. They were coming very, very hard today for the 140, okay, that tested around the close, the 140 and the 135 weeklies. Definitely, definitely keep an eye. You see how it's just sitting here, right? You see how it's sitting here in the same channel here three times a row in health, right? If Apple breaks down tomorrow, you could get a move, you know, we could get a move down to this 138 level. Another interesting name to watch, Amazon broke down a couple of days ago. You guys remember that? This whole channel here on the weekend update, right? Broke down a couple of days ago. There was a pretty, you know, just to give you guys some color on the option side, there was some really aggressive buyers coming in for the weekly, you know, 86 and 87 puts. One notable buyer came in. He bought 37.52 of the Amazon weekly 86 puts and it kind of correlates that because the bottom of this channel here is 85.87. Again, very, very aggressive put buying there. Buyer came in right before Chewy's earnings for tomorrow. Came in with 3,000 of the weekly 36 puts. Again, something to watch, especially for all you guys who are holding or trading Chewy. AMC, again, I'm sorry to inform all the apes and whatever else is called, but you know, there's a lot of put buying came in. You know, when it was trading today, 650, 660s, buyer came in for the 5,000. Next week's $5 puts. You had a whole slew of buyers come in for the $6 puts, which pretty much closed at the lows. Something to think about here. Again, the bottom of the channel here is $5. So there were, you know, the options markets kind of betting that we're going to see this, you know, while you guys are going to see it, I have nothing to do with this thing. You know, you might see this $5 area. Tesla continues to get peppered. You know, we saw, you know, every single day it's breaking down. Every single day it's breaking down, especially below this 179 area that started this recent channel. I still think there's a shot we see this 67, 68 level on this interval. You know, notable buyers today. They were coming for the weekly 170, 170, 165 puts. So it's something definitely to watch out for. And a buyer, NET. You know, if all you guys, again, this cloud space has been not good, right? With snow and ZS that we talked about last night on the video broke down to about three points or so. But NET, a buyer, January buyer came in for, you know, 3,000 of the January 50, you know, 55 puts kind of in the money, excuse me, in the money. So kind of interesting bet there. So moral of the story going into tomorrow, again, nothing from the technical side was resolved today. I definitely want to watch a whole bunch of names for tomorrow. And again, you could see there's a lot of names that are very, very close and kind of mirroring the cues of potentially breaking down to the 50 day moving average. Look at Qualcomm. Look at Qualcomm. Qualcomm is, you know, this thing confirms the 50 day moving average tomorrow, right? Or the next couple of days. I mean, this thing has room to the downside, especially if the cues pull. Look at a name for example, like Google, right? Look at Google. These are all NASDAQ 100 names. You know, look at Google. Look how close this thing is. It lost the 50 day moving average today. Look how close this thing is, right? You see the bottom channel here that started all the way to November 22nd all the way, right? A whole three weeks ago, right? Watch the bottom channel. I don't know if we'll get there tomorrow, but watch the channel here, very, very close. Apple, I still like a lot, especially if it starts cracking down below today's channel. Meta, again, getting heavier, right? Getting heavier, it's one day away from losing the bottom of the channel here. So hey, if they pull, right? If they pull and the cues start losing today's range again and they start testing, maybe we could get a push. You know, could get a push to the 50 day moving average. At that point, like I said in last night's video, at that point, you want to kind of cover your initial shorts. You might want to even flip long. Because again, the first time they test anything, right? The first time they test anything, they usually do hope, right? They usually do hold, and you can see it here. As you can see it here, if you're going all the way back to here, when they came back to the 50 day moving average, it held, and then the market started resuming. So that's kind of my point, what we need to see happen, you know, this time around. We need to test this level. This is kind of where you want to cover your shorts, get long off this may possible 277 remount and use the low of the day as you're out. And who knows, maybe you could get a reversal, but if not, again, like I say every single day, we are prepared for both sides of the market. Again, nobody's calling for a top, nobody's calling for a bottom. I'm an idiot like everybody else. I'm just taking it one day at a time, all we're trying to do, again, take the data on the clothes, take the research on the clothes, have a measured plan for both the indexes and our individual names. And again, don't guess, don't anticipate. If they confirm, great. If not, guess what? There's an other side of the ledger that you could possibly trade as well. Guys, God bless. I'm going to cut this a little bit short. I got to take my kids to practice. And with God's help, I will see you all tomorrow. Take care.