 But if I'm hopeful the way this week is going to play out, you might have a melt-up, but you might have a melt-up in very, very aggressive groups. 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. And down the stretch we come. Good morning, everybody. And happy weekend. Hope everybody is doing well. Welcome to another edition of TheAxisTrader.com. Weekend update show. Hope everybody is doing well. Just before we start, we've got four days in this week. Friday, you're going to see pretty much a ghost town. Labor day, obviously. The last kind of hurrah for summer. For all you guys who have been wondering about pivots and considering pivots, there's a really, really cool offer somewhere in this video, Kyler will put it in. It's like 47 bucks. You have access to the webinar for a month. You have access to the workshops and all that good stuff, kind of breaking down what the PS60 theory is and why it's so cool and all that cool stuff. So if you're interested, this is definitely the week to take advantage of it and see if it's right fit for you. So let's talk about the markets. The biggest mark, the greatest testament to a market, how strong it is, it's the ability to fight adversity, right? Adversity, resilience, all the stuff that makes a human being, right? Strong character, strong will, persons, markets are exactly the same thing. And the market has been on a phenomenal run. I don't think anybody could turn around and say anything different, whether your trading is mirroring what's going on in the market as a whole different story. Again, it's a whole conversation for another time. You might be just trading stocks that have nothing to do with correlation with the market. But again, it's a whole conversation for another period of time. And you can see what's been going on with the tape just over the last four and a half years that everything has been bought up. The global pandemic, again, kind of a biggie. Still kind of in the middle of it. But that's been embraced in a weird way. And the craziest thing is, if you have a conversation with another stock trader or economist or anybody, mainstream investor at any point during this pandemic, and it's marvelous to think out loud that despite this global pandemic, we're at all-time highs, okay? That's called resiliency. That's called knowing how to fight through adversity. This is basically getting punched in the mouth for 11 rounds and coming back for the 12th and knocking out your opponent. And the market's been like this the whole way through. So even if you go back to Wednesday night, right? We talked about, hey, be careful. Maybe you don't want to buy anything overextended. Just watch it, watch it. And we had a coincidence, pure coincidence. I will never take credit for a headline. But you saw that headline come in about the attack in Afghanistan that unfortunately led to, I think, 13 servicemen and women unfortunately got killed. And the market obviously did not like the news that they all sold off. A little bit less than 200 points. NASDAQ got hit as well. But what happened was the next day, they took those headlines that were obviously negative and sensitive and market rattling. And they were gone. It's like it was nothing there. And they completely engulfed the previous day's candle. And not only that, engulfed the whole high from this whole formation from this last week of trading. So it's super duper bulge, right? And it's very, very hard to dispute and try to handicap the action going into this week. And this week will be a lot slower. Again, we only have a very limited time left till Labor Day. Friday is, like I said, is going to be a ghost town. I'm gonna be in the Hamptons from Friday to Monday. So you guys will probably get a recording Monday night, right? You'll probably get a recording Monday night for the new week. So a lot of people are gonna be gone. A lot of people will be taking advantage of kind of the short week, the longer weekend and kind of trying to fight and get that less bit of summer in there. So don't be surprised going into this week. If you have some days, a couple of days, there might be slower. There might be more lethargic. And you sit there and you're like this at 10, 15 in the morning trying to figure out, well, how come Tesla hasn't moved in the first hour? How come Netflix hasn't done anything? So it's very, very important to kind of take it into stride. I don't think you're going to have a meaningful market resolution till people come back after the Labor Day weekend. But for now, it's super duper bullish. You really don't need to dissect the market. Now you just have to find the strongest groups. And again, a lot of times throughout the year, we have to play devil's advocate. We have to do this. We have to do that. What happens in this? What happens that? Look, we're not naive. We know a market pull could come at any time. Again, I've been trading 22 years. We've seen markets get pulled for like no reason just because it's Tuesday, right? So the market doesn't need a reason to pull. So we're always wary of the super extended stocks. But we're also kind of focusing, and again, if you've been watching this broadcast now for a while, always focus on the stocks that are coming off the bottom, coming off the bottom ranges or the middle ranges. That's why moves like a Peloton, right? This week was tremendous, right? And before, obviously, the scap down. But you know, you had a move going from 75, I'm sorry, not Peloton. I'm sorry, wrong stock, P10, pen, pen, too early in the morning, Sunday. I knew it looked crazy, right? Like a stock like Penn National Gaming coming off the bottom. Again, is going to get a really, really aggressive move. A stock like Amazon that, again, has been left for dead ever since earnings. But once it kind of started reclaiming the big levels that we always focus on, especially on videos, the five, 10-day moving average, it started the sequence of events and now for higher prices. And that's kind of what we want to focus, you know, names that are coming out of the bottom channels, the stocks that are overextended, we're leaving them alone, right? That's where gravity kicks in. This is where you lose control of the trade. We want to make sure that if I'm going to have a trade that doesn't work out, it's going to stall the bottom of the range, not at the top, where the violence is very, very unforgiving. So the key going into this week is, again, find the groups that have been very, very strong. Find the groups that have been resilient and most important, find the groups now that even if you don't have the greatest amount of volatility or greatest amount of, what is the word I'm looking for, greatest amount of resistance, right, this week, because the participants are on vacation, you want to make sure that those are the channels that have the highest probability of going because majority of people are probably not focusing on those groups. So if you go into this week, you really don't have to be very creative. And I say this all the time because you're trying to keep it as simplistic as possible. Look at the strongest group, right? Semiconductors, ready to bust out. And you can see it, you can see it in the charts. You know, and the video has been a monster. AMD woke up on Friday very aggressively. Look again, we'll get to individual pivots in a second, right? That they've been super strong. Look at a name like LRCX, right? Super strong name. Look at a strong name like Xilinx, right? Like Xilinx that I really like for this week, right? These are the stocks that are super, duper strong. So again, why start looking at random names that I'm putting in random moves if you have a whole tribe mentality of groups going in the same direction. Look at the financials, right? Look at names like Citibank, right? Ready to come out of this bottom channel here. Look at Goldman Sachs, right? Look at Goldman, look at JP Morgan. Look at a name like one of the names that I like this week is Schwab, right? Look at a name like Schwab. Look at this channel it's coming in. So you have really, really good value. And I think there's something here for everybody. So a lot of times you'll have a market that is small cap driven. And that'll be a very isolated incident for a short number of weeks. And then you have a market sometimes, hey, look at consumer cyclicals, they're very, very strong. You like consumer cyclicals, well, they all trades them. But there is a market for that. Then there's majority of the year you do have a tremendous amount of average to range in technology names, right? But now you have everything. And that's the whole point. You have everything right now can it change on a moment's notice? Of course, right? Can the market tank next week and say they're gonna do the worst? Yeah, of course, anything is possible. But we're conscious of that. We're not naive to that. We're not going into any single trading day with eyes closed and hoping to God we're right. We're waiting for confirmation and letting these things play out technically, not emotionally. But this is one of the very few opportunities that everything is going. I mean, look at names, smaller cap names like a BBIG, right? A BBIG just doesn't, right? You have a small cap market. You have names in technology that's breaking out, right? Like Netflix, this is my trade from Friday, really great. So you have Netflix breaking out. You have Amazon come off the bottom. You have semiconductors going nuts. So there's something there for everybody. No matter what your style of trading is, whether you're a day trader, swing trader, it's all lined up for us. The key now is to sit back, relax, go through your research and trade the stocks that you feel comfortable. Not that somebody else is comfortable, not some guy, JoeSchmo.com trading is comfortable. What fits your comfortability, your skill set, your bank level, your risk tolerance, all that stuff that makes you an individual trader, not somebody else's comfortability be yourself. Take the game plan, take the four or five names you want to concentrate on and omit everything else, put on the blinders and concentrate on those names. And the one thing that we are seeing is everything is getting pulled up. And if I'm right and hopeful, I think more hopeful than right. I don't care about being right, but if I'm hopeful the way this week is gonna play out, you might have a meltup, but you might have a meltup in very, very aggressive groups. And if that's the case, we should have a pretty damn good valuable trading session to kind of end the summit, right? At least some end the Labor Day weekend. And again, if you go through all the indexes, you'll see meltup in the queues, spies, all-time highs, you've got the diamonds being pulled up, looks like the diamonds are gonna be at all-time highs. The one group, right? The one group that finally busted out, right guys? You guys remember we were talking about this for a while, right? And this is why everything is being pulled up. This was the last group, the IWM. They finally closed above the 225 level. Remember the 50-day moving average? How important that 50-day is? First close over the 50-day moving average. And if the IWM that represents the smaller cap names, if they confirm this 127, excuse me, 227 on a bill, you're gonna have the next leg up and everything, right? That's called speculation capital, speculation market, the hot money, right? Everything will get pulled up with it. So again, you don't need to be creative, you just have to focus on the names that you want to trade. Again, sometimes you have to dissect the market to see a technical analysis, play devil's advocate. I don't think this is the week for it. Again, let's stay conscious, let's stay hopeful, let's stay patient, right? Let's stay patient and let everything play out like we think, right? Might not, but like we think and give us the highest probability to achieve our goal. So let's talk about Friday's session again. Super duper aggressive. That's the best way of saying it. Super duper aggressive. Everything broke out, right? Well, I can't say everything, but everything gave us a high probability for the next leg to break out. So let's talk about this Netflix. This was a really good move. Netflix 553, 554 sneaky area, 558 macro needs to build. Here was Netflix. I still like it. I still like it a lot. Any dip on Monday, you gotta be a buyer in this thing instead of rising 60 minutes support. So it took out 53, this whole channel here. 53 took out this 57 and a half, 58. And now it is right here about the test, January, February, March, April. The April 20 highs, this whole 565 channel, this thing confirms 565. You should have its next leg up. So great move, really, really great move on Netflix. Amazon, okay, 334, 335 needs a strong build. Here comes Amazon right into the afternoon push, right? It took out this whole channel here, folks. That was the whole point. This whole channel here, it took out this 334, 335 level and traded into the 3350s. I think there's a couple of more areas that Amazon should test if the market continues to be strong, this 3360s and this 3380s level. Again, very, very strong option activity in that name. Very, very strong move. mRNA, very disappointing. I really thought that this week they were gonna test that 414 level. They threw bad news at it. They sold it off. They took it back up and they just never got back into this 414 level. All right, it is what it is. Zoom after impressive pivot to the upside that was on Thursday eventually got rejected in case it goes red, watch that 336 build. It never got there so we're still watching that 336 build. Square, 260, 260 below, it never got there. Roku, 351 builds below, never got there. For Friday's session we had longs and shorts because we kind of didn't know how the market was going to react after the whole headline in Afghanistan. So we just wanted to make sure we're protected on both sides of our game plan. Obviously, you saw the pivots to the upside, the ones to the downside obviously never confirmed and things started getting pretty aggressive. Coin got to 248, never confirmed. eBay, eBay was very, very strong. Here was the pivot on Thursday. 75 needs to build to get to a macro channel and then Friday's comment, 76 now needs to build for the earnings highs and eBay closed right at the highs, right? At the highs, the earnings highs. They should, any dip, again, any dip that confirms this 76.5, 77 level should start its next leg up on eBay. NVIDIA, 225, NVIDIA has just been a monster. Now that semi-conducted SMH is a stronger, it's gonna continue. So 225 needs to build. Well, yeah, it went to about 227 and changed, but look at this move here. I mean, who could really be disappointed with NVIDIA? Just an absolute monster. AMD, we talked about that 110 level throughout the week. 110 rejected twice on the daily needs to build. Here was AMD, right? It took out the 110, they got rejected several times. And now everybody see this? Now we got this whole macro channel. Remember, macro channel doesn't have to be 52 week highs. Macro channel just needs to be a major channel that distribution take to control. And whoever takes control of that supply area will obviously win. And that's why you could see here, AMD has been rejected through this channel several times. It also got rejected several times through this 110 level. So it finally took that out. And once it takes out this whole macro channel, there's a shot. This thing goes back to all-time highs. So a really strong move on AMD, taking on the way up. Hot, again, again, you don't need to trade Amazon and trade pivots. Hot, for small cap lovers, we always talk about how the options market dictates the underlining security. HUT, they were coming for the September 10 calls on repeat, one after another, after another, after another. So you don't even have to be an options trader, just to understand how important the options market is to the underlining security. So for small cap lovers, 720, 735 big spots, they're coming for the September 10 calls. Here was HUT, right? Here was HUT. So it took out the 720, took out the 735, and basically traded to about a little less than eight bucks. And you see here, after the close, it's ramping up a little bit. This thing looks higher. I mean, they were coming for the $10 calls, and especially in this speculation money, you know, there's a shot, it gets there. Who the hell knows, right? But again, 735 on deck, there's been a massive seller. Coffee break. There's been a massive seller in Tesla. As you guys notice, it's been getting rejected off the 715 level, literally the whole week. There's been a massive seller there. They're trying to clean them up. Once they clean up the seller, and the craziest part about sellers is you don't know. You don't know how much stock they have. If I had a guess, and for all you guys who are watching the order flow with me throughout the week, the purse, I'm guessing it's a fund, they had to unwind two, three million shares of Tesla. It's been three, four days on the same channel, and they just can't get a, eventually they will clean them up, and once that does, Tesla's gonna wake up. So let's keep an eye on Tesla again. Does it have to happen this week? Not necessarily, but Tesla looks really, really strong. So let me give you guys some ideas for Monday. Again, I like Schwab a lot. Again, if the financials are strong, look at this channel here. You have a distribution that's going back for about three weeks here. If the financials are strong, Schwab looks really, really good. Also, in the financial space. Look at American Express, right guys? First close over the 50-day moving average. That's bullish, super bullish. If the AXP confirms, again, it has room all the way up to the 174 level, that looks really, really good. AMD, again, I like AMD a lot. If this thing takes out this whole channel here, this looks good, and a smaller name. Look at a smaller name. For all you guys who trade smaller names. Look at this ISEE, I have no idea anything about it. But if this thing starts taking out, it starts building a base, 1075, 11, man. You could get a next leg up. Again, here's the pull point. You see this 50-day moving average? Where I was talking about the last couple of symbols, like the IWM, like AXP, right? When you get above the 50-day moving average, it starts a really, really big cycle. So more of the story is any stocks, when you're doing your research this week, that comes and reclaims the 50-day on the close, should warrant your attention. But anyway, ISEE looks great as well. There's a whole slew of technology names that I'm obviously watching, especially on Dips, Facebook, Xilinx, Netflix, a ton, right? A ton. The key is take whatever you feel comfortable this weekend, whatever group you're focusing on, and do your macro research on that group. Have a safe Memorial Day weekend, guys. The video should be out next Monday, right? The weekend video should be out next Monday, and have a great trading week. Stay patient. Remember, you don't need to trade every day, but when you do trade, trade without it. You guys have a great day. Now we'll see you guys on Monday. Welcome to Access to Trader, the number one community for those who are committed to trading.