 It's a fluid market, you know, don't try to put your, you know, plant your flag and stake a claim on one side of the market. The market is very, very aggressive. You have to have both sides, both long and short prepared just in case one side gets cold. 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 and welcome to the latest installment of the AccessaTrader.com weekend, well weekend, excuse me, Freudian slip, nightly wrap up show of everybody is doing well. So we had the aggressive sell off on Friday. The problem with that was nobody was around to defend this. So the bulls kind of got a mulligan. So yesterday we had a pretty aggressive rally in the NASDAQ 100. And if you look at the Dow, the Dow pretty much made a little bit back a little bit less than a third of what it lost. So the question going into today's session was, well, what happens next, right? Yesterday we talked about the notable strength in the market that led us higher yesterday were the semiconductors, right? Semiconductors broke out yesterday. You saw a really big strength yesterday in AMD, NVIDIA, Qualcomm, LAM research, so forth and so on. But we also talked about and we also tackled the subject that the market right now is in a new spin cycle. And that's the most important part. We went through the Delta variant. We sold off a two, three, four days. The market got comfortable with the Delta variant and it went to all time highs. Now we are in this whole micron. Again, I'm gonna call it micron. I know it's not called micron, but it's this whole micron variant where like day three, four into this kind of new variant, the market needs to, well, get used to it as well. And that's the key. Everything that the market has been thrown for the last, for the last two years, ever since this pandemic has started, the market has learned to live with it. Just the way the first time around we heard about COVID, it was a panic. We quarantined, it was a panic, but slowly but surely, we learned to kind of go on with our lives. That was kind of the reality. And even though life is not perfect right now, and I think a lot of people can acknowledge the quality of life versus where it was two years ago from all our freedoms and doing this, that the other thing is not there. But this is kind of the new world order we have. This is the new world that we are living in and we have to adapt to that world. And that's the same case scenario for the stock market as well. The market just needs to embrace. It needs to kind of digest everything that's happening. Is this gonna be the last new exotic variant that's gonna hit the market? Probably not. This thing is fluid. Like I said yesterday, there's a lot of moving parts. There's constant new mutations that are forming. So the last thing anybody's gonna turn around and say, well, this is definitely the last one. The market's gonna swallow up this latest mutation and we're gonna be at all-time highs. That's the hope, right? That's the absolute hope because the thinking behind this is, well, if the market didn't go to zero during the financial crisis, the market didn't go to zero during the pandemic, the worst pandemic in our lifetimes, right? And we were steps away from all-time highs. Well, why is this any different? And obviously to be determined, but that's what we wanna see. We wanna see the market get comfortable with the headlines and eventually just like we did a month ago or two months ago, right? Three, four days in a row, Taliban, Afghanistan, no good. Market's so low. Taliban, Afghanistan, no good. Market's so low. Eventually people are like, what was the news again when Afghanistan? All-time highs and that's where we are. So yesterday we had a really good surge in technology names, very, very bullish. And the question was saying, well, what was gonna happen? And I talked about in last night's video that look, unless something really comes out crazy overnight, you know, maybe we could get another pop. Maybe we get a day to run and like clockwork, something happened overnight. More concerns came out on this micron, calling it micron, micron variant. And you woke up this morning and you saw the Dow down, you know, 500 points. You saw the Nasdaq down 170 points. The only difference between Fridays, right? Friday's really aggressive gap down in the futures. There was nobody around to defend prices. Today's gap down in futures, all the strong names that were strong yesterday that we watched, you know, we talked about the semiconductors, we talked about Tesla, they were strong. You know, the Tesla was only down at one point pre-market like four or five bucks, AMD was down like 50 cents. So you could see that strong leaders from yesterday were definitely firming up in the morning and right from the word go, everything that was strong yesterday had a really, really aggressive move today to the upside, Apple apparently doesn't know what's going on. It thinks it's in a full bloom bull market. Again, we'll get to the individual pivots in a second. So what we saw yesterday was good strength. That strength definitely followed through in the morning, some really, really big candles. Again, we'll get to the individual pivots in a second. Then there was an aggressive sell-off midday. But hey, to the bull's credit, they held, right? They definitely held. And again, it's not gonna look pretty. You're gonna see the Dow final scoreboard down 600. You can see the Nasdaq down 200 points. But when you look at individual names, a lot of names really did well, right? You take a look at the semiconductors, you can make an argument that, hey, you know, again, they sold off today, but there was a lot of semiconductors that showed a lot of strength. You look at Apple today, again, close at the highs. Now it's looking at all time highs. You talk about Tesla had a really, really aggressive move in the morning. They came back down, they trapped shorts off the five-day moving average and closed green again. Even NVIDIA that looked really awful today at some point, right? It looked like it was about to go green in a second. It looked awful, but it reversed and held the 10-day moving average. And now it reclaimed the five on the close. So we need another day, right? We need more evidence. We'd love to see the bulls. If there's more news, you know what? Digest that news better. So maybe if the market is not down, the Dow's down 600 tomorrow. Maybe it'll be down 200 tomorrow. Maybe any type of bad news, maybe it'll even go green. So we need the more news that comes out, the more negative headlines there are, the faster we can start to digest them, then they'll start turning into eventually the Delta variant scary, the Delta very strong. This is much more contagious than the original coronavirus. What, Delta? I forgot all about it. What the hell is going on with Delta? I didn't realize we were in the third, fourth wave of Corona. And that's exactly what we need going forward. Micron what? Micron who? Remember that? Micron who cares? Micron's at all sudden markets at all time highs. So slowly but surely do I expect a complete turnaround tomorrow and a thousand point gap update tomorrow? Of course not. That'd be insane to even think or even believe that could happen, especially, again, if you look at a lot of charts, yeah, there's definitely names holding up very, very well. Like the Teslas, the apples of the world. But when you look at charts, right? You're gonna see a lot of good looking short setups. Like, look at Google. Google first close below the 50 day moving average. That's not a good thing. Netflix first close, Netflix first close below the 50 day moving average. Not a good thing. So you have, just like we talked about yesterday, just like we're gonna talk about tomorrow, you have to be prepared for both sides. Look for sneaky pivots in the morning on strong names, especially on a gap that we know the strongest two names out there right now. It's obviously Apple and obviously Tesla. Let's watch for sneaky channels back to the upside. Nobody's talking about all-time highs, but definitely casual opportunities, especially in the morning when there's a greater amount of chasers in the morning than they are in the afternoon. But at the same time, let's be conscious, let's look at the names that never rally today, that look like they're one day away from confirming macro technical damage. And at least we can have both sides of the ledger covered. We don't need to guess. We could just wait nice and patiently for one side of the ledger to confirm. Instead of trying to guess and anticipate what's gonna happen tomorrow. And look at some of these names. You know, look at it, look at it NTS, right? This thing is, looks like one more day, one more confirmation. This thing has a lot of room down. Even a name like, even a name, for example, like a fast, like a Fastenall. Look at a name like Fastenall. Had a really big aggressive engulfing candle down today and not only that it lose the five, 10, it lost the 20 all in the same day. And this thing confirms, look at which room down it has as well. So we're definitely set up on both sides of the ledger. Obviously, like we've been talking about, it's a fluid market, you know, don't try to put your, you know, plant your flag and stake a claim on one side of the market. The market is very, very aggressive. You have to have both sides, both long and short, prepared. Just in case one side gets pulled. Well, there you are in your preparation and your research. And the most important point guys don't anticipate. That's where you get hurt. When you try to anticipate a trade or anticipate a move without technical confirmation that when you're gonna find yourself usually on the other side of a really, really aggressive move against you. So don't guess, let everything confirm, let everything confirm for you. So let's talk about today's pivots. Again, some really, really aggressive moves, especially at the open big moves in semiconductor stocks. Some nice moves towards the short side out. I like some, I really like to swear to the downside tomorrow if it confirms. A nice little pop, a nice little implode today, but I think there's more coming there as well. So let's talk about this. So this is the first thing we talked about this morning. I saw it, you know, after yesterday, Google, Tesla's move up $55, $56. It was only down like six, seven bucks pre-market. You kind of saw it happening, developing that eventually this thing's gonna go red to green in the day. And you know, that's kind of our notes. You know, Tesla could see red to green, 1143 is a big, big area now. Look at the spike here on Tesla, guys. This was a phenomenal, phenomenal move. So here is the 1143, right? Here is the 1143. You see this whole channel here, right? This whole channel here, look at the high here. 1143, 1143, 1143 and slowly but surely it took out 1143 and this thing just absolutely exploded when all the way up to 1166 before a pretty good reversal. Boy oh boy, Tesla just continues to be just a phenomenal stock. I mean, there's nothing really left to talk about. NVIDIA could see red to green as well. Just came short of red to green. I still like this thing. I still think this thing needs to confirm that 34 and a half, 35 level for the next leg up. So I still like this thing. BBY is turning into a really, really great trade. It really is and it's not sexy, right? It's not sexy, it's just the same thing. The stocks that are blowing up in earnings, they're rallying a little bit but once they confirm earnings and they first close below the earnings low, they just drift. They absolutely drift yesterday, 1350, 13, potential swing. We saw this thing pre-market, 110. Let's see if this thing can get below 109 to start to stretch. This thing went to 106. I still think if the market is weak tomorrow we could still see a 103 push. Really, really good move and this is what I, this is my point about these earnings play. So here is the earnings lows, right? First call in the earnings lows, destroyed, destroyed. I mean, awesome, awesome move. Not sexy, again, not sexy, but damn, damn effective as well. So BBY was great. And here was, again, here was the mixture of some really good strength in the morning, some really weak weakness in the afternoon. TTD 10850, 109 needs to build. Not a big move, but again, the point is you could see the strength at least in the morning. Here is the 108, here's this whole channel here. Something pretty much like Tesla, obviously not the same caliber of move. But here's the 10850, 109 went to 111 before again, everything reversed here at the afternoon. Qualcomm 10420 needs to build. Here was Qualcomm traded perfectly, perfectly into supply. Here's the 10420, traded right to supply almost 87 again before it came in, came in to let everything else. Letter U, YOU, this is actually a real stock. 3220, 32, if it builds below, can flush. Here was YOU, right? Here was YOU. So it took out the 32, right? Took out the 32, went all the way down to like 30 and change before rallying back a little bit. But again, nice move there as well. Tesla 55 supply, first move was perfect. BBY 109 on deck, again, get down to quarter size. Went down to 106. Apple was definitely the biggest monster technology name. We just saw, as the market was firming up a little bit, you started seeing these 165 weekly call buyers over and over and over and over again. 162, 14, big supply needs to confirm. Apple went nuts, considering what the market did. So here is the 62, 14 right here. Here's the 62, 14. It traded right to supply to this 166 level. Now, any weakness tomorrow should get bought, should trap some short red degree move for attack in the all-time highs. Just an absolute big move on Apple, Tesla. Again, how crazy Tesla was. They were coming in with some pretty aggressive call buying today. Not only they were coming for the 1200 weeklies, they were coming for the 1225 weekly. So there's a lot of money still betting that Tesla's gonna have a big, big move. And again, hey, Tesla's acting incredibly well. Again, here's another perfect example. GPS, slow mover, any close below 1685 will confirm the earnings low. We'll start a multi-day, multi-week move. Example, like Zillow, like Bed Bath and Beyond, like Beyond. So here was GPS, again, not a sexy move. It's a slow mover, guys. But look here, here's the earnings low. Here's the first close below 1685. This thing should just drift. I still like this thing for tomorrow. This thing should see south of 16. And if this was an indication, like all the other earnings plays, you should get a three, four, five-day move down, especially if the market continues to go lower. Apple isn't just a rockstar move. Qualcomm exploding. 6990s is daily supply. Qualcomm traded to 6880s. Square, 209 held twice, but builds below can flush, 205 will be macro. I still love that 205 area here with Square. Took out 209, went to 206. This 205 area, guys, it's gonna be a big, big spot, especially if the market implodes on Square. U is coming in, again. So you get some really good value, some really good value today. And the most important part about tomorrow is stay patient, right? Like I said, stay patient, take a deep breath. We definitely like some longs. We definitely like some shorts. The key is which side is going to convince and which side is going to confirm. That's the most important part. Guys, God bless, have a great night. And with God's help, I'll see you tomorrow. Take care.