 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 theaccesotrader.com nightly wrap up show. Hope everybody is doing well. So first day of trading for the first quarter, if you guys remember, September probably, not probably, was the worst performing month so far in 2023. And the question is, what was going to happen next, right? Over the weekend, you had Joe Biden basically giving a 45 day extension to a potential shutdown in the markets. And like we talked about it, it wasn't a slam dunk. There was no such thing as a slam dunk on that type of news. All it is, is putting a bandaid on his severed head. Nothing was really accomplished. It was just basically an extension of, hey, let's think about some things, step away and 45 days will come back and do this dance all over again. And the question was, how is the market going to react? If you guys remembered on Friday, the market gapped up on some data, but it was also due to a potential resolution in this whole, the government shutdown scenario. And if you guys remember on Friday, the market got stuffed at supply, right? It got rejected here off this 363 supply. That's kind of what we talked about on the weekend video. So the question was, well, how is the market going to handle this news? And we got our answer pretty quickly. This morning when I woke up, before I went to the gym today, the Nasdaq futures were up 100, 120. The Dow features were up 200 by the time I got out of the gym, right? I got out of the sauna. It was around, I'm guessing it was probably around eight, eight and change, right? Now Nasdaq futures were up 20 handles. The Dow futures went red. That's pretty a big deal. And the only good thing about that was, and we kind of talked about this, we kind of talked about this for many, many years. It's actually a good thing that the futures sold off ahead of the pre-market because what was going to happen again is the same thing that happens all the times. Nine out of 10 times, when you get a gap up, when you have a market that is below supply, it's going to get faded. And I don't think a lot of new traders realize this or even appreciate that that happened pre-market. Because realistically, if the futures were still up after the market opened, a lot of people will have a lot of bad days. Guys, just remember this. Always just write this down. You never go buy stocks at the open or pre-market when the market has technical damage, especially sitting below the 50-day moving hour. It's not the first time we're talking about, but it's kind of a constant reminder. And the longer you hear it, right, the longer you hear it, eventually it's going to kind of sink into your subconscious. And to the bull's credit, we did put an inside day. We didn't take out the previous day's high, and we'll get to the importance of that in a second. And also, we didn't take out the previous day's low. When everything was said and done, the Dow futures, they were up about 200 pre-market. The Dow finished down 74. The S&P, that was up about 1520 handles, was pretty much flat. And the Nasdaq actually did pretty well. I'll show you some symbols that actually could be pretty good if the Qs can kind of reclaim back last Friday's supply. The second big question or it was going to happen was, for some reason, I was under the impression that Tesla was coming out with these delivery third-quarter production numbers Sunday. They actually came out with those numbers, I think it was a little bit before 8.30 Eastern time. And when you look at the production numbers, and again, keep this in mind, the prices were already cut. This was estimates that were already taken down. So there wasn't a lot for it to disappoint. So they came in 435,000, the estimate was 456, again, it was a revised number, we already knew. The initial move down, we'll get to the pivots in a second, the initial move down was pretty aggressive. At one point, Tesla went down 10, but, and this is kind of the whole point of why it was important, because this was a revised number, a lot of people realized it was, and the stock actually went green. And not only did it go green, it came an inch away from challenging the Friday's channel. Again, we'll get to that importance of that in a second as well. But the major undertones continues to be negative. If you guys remember, we talked about, and this is strictly for the main street stocks. I'm not talking about, usually, we concentrate on the Nasdaq 100 names. This is kind of the main street stocks. If you guys remember, on the weekend update, we talked about consumer cyclicals being weak, the proctor and gambles of the world just can't get a bit. Colgate, Palmavel, of Kimberley, Clark, right? We talked about how crappy the retailers were. It's Target and Coles, and there's a lot of just terrible. And now if you look at the other group, and again, this is why one of the reasons the Dow Jones and Dushield Average continues to be poor and the S&P just can't get any traction. Now the food names are starting to really accelerate to the downside. Guys, look at some of these names. These are food stocks. Nobody's talking about buying Chanel and Prada bags. This is food stocks. This is Campbell Soup. General Mills, Tyson Chicken for God's sake. Tyson Chicken, look at Kellogg's. Little Johnny can't get a special K, right? So that's a problem, right? That's a problem. I think all of us knew that was a problem, but again, the stock market has nothing to do with main street. Sometimes the stock market could be a trailing indicator, six months, a year, a year and a half, but you could see it, right? You could see it. Also, look at names like Coke, right? Coke, I mean, these are everyday products that people use and the stocks are just drowning. You start looking at the banks, right? Let me look at Goldman. Goldman doesn't look great. Goldman is actually very, very close to losing this bottom channel here. So the undertones continue to be very, very negative, but again, we're not economists. We're not trying to predict where the market's going to be a year from now. We're trying to take our data and apply it to the next business day, and that's all we're trying to do. And if you look at what the bulls did today or what they didn't do, which is a good thing, they could have easily rolled over after that big gap up. I mean, you could tell here, look at what the futures did. Let me show you in the five minutes to kind of get an idea. So here is the gap up, right? Here was the gap up pre-market, right? Here's the gap up pre-market. And look at the sell-off. Guys, especially if you're new traders, just remember what we talked about. Don't buy these gap ups because they're going to go into supply. You can buy them later after 10 o'clock when there's a trend. There's a trend that is enabled. It's confirmed. But boy, oh boy, it's the same thing over and over again. Here's the gap up, major sell-off, right? They just kill people. They kill anybody who's participating in the pre-market at the open because the stocks are hitting supply. But to the bull's defense, they did not go down. Here continues to be the big levels, guys. If somehow tomorrow or anytime of the week, and again, what I'm about to say, it's not a clear sign for the market to go higher, but this could give us at least a tradable opportunity for that day, right? For the bulls to really go higher, reclaim greatness again, they need to reclaim the 50-day. We're just talking about little baby stubs here. So for the bulls to go higher, at least for a tradable rally, maybe a day, maybe two days, maybe even a couple of hours. But the cues desperately need to get a back above 363. That was the high from Friday. If you look at today's high, 362, 68. So they need to get above this 363 level. It's super-duper important. If they can't do that, then can we continue to watch the 357? These are the same numbers I gave you guys over the weekend. But since we had an inside day, one of these channels have to fall. So 363 to the upside, 357 to the downside. Because again, if 357 does come in, again, we know right back to last week's lows. So going into tomorrow, I want to give the bulls the benefit of that. I do. And the reason why I'm saying that is just because of today's action, they didn't roll over. And because the cues are so close to getting back above this supply zone, look at all the names that are in the cues that are cult names. They're very, very close. Obviously everything's going to be contingent on everything else. But look at names, for example, like Amazon, right? Amazon today rallied, got stuffed at the top of supply. This is the 10-day moving average. If you've been watching me for a long time, you know the 10-day is the birth of the trade, right? Again, let's watch Amazon. Look at Microsoft. Pretty much the same thing, right? Microsoft got stuffed today at the 20-day. If the cues could start reclaiming that 63-level, watch Microsoft. If they could reclaim the 20-day, there is a tradable rally there. Look at NVIDIA. You know, NVIDIA was definitely the move of the day. Again, we'll get to the pivots in a second. They got upgraded today by Goldman Sachs. Beautiful move today. Got stuffed at the 50-day moving average. If NVIDIA gets above the 50-day, just the same way, the 10-day is the birth of the trade. The 50-day is the birth of the trend. So if NVIDIA can confirm and get back above the 50-day moving average, it could be really good as well. Let me give you guys a couple of more names. I think these are all names that I watch, that I trade, that I like, that I love, that I trade them pretty much a day in and day out. Google is the same thing. It's very, very close to busting out. The key is just to get back into that over that supply. And Tesla, right? Again, Tesla took a major haymaker today. Buyers came back in. We're very close, guys, reclaiming back the 50-day moving average on Tesla. So again, if one of them goes, they're all going to go. If the queues can reclaim 363, I think there's going to be a tradable rally for maybe a day or so. Hell, maybe even a couple of hours, but at least enough to give us two, three, four, five points. That's all we want. We don't care about the closing prices. As long as we read the data correctly and exercise our ability to wait for confirmation to happen, and that's on the table. If that can happen and the queues start losing back to 357, Darth Vader comes back out. Da, da, da, da, da, da, da, da. Right? Darth Vader comes out and nobody wants that, especially if you are a permeable who doesn't trade both sides of the market. So that's it. We're set up for tomorrow. 363 on the queues, 357 on the queues. Both channels are confirmed. Both channels are real. And one of them needs to be confirmed and should in the next day or so. So let's talk about the pivot. So Tesla delivery numbers are out before the open. 255 to the upside would be to get back above the 50-day. 246 would give back the five-day. So we had both sides. And again, guys, congratulations for all you guys who caught it pre-market. Again, it went down to 240. I mean, a beautiful move. 246 broke down. You could see here right here. 246 broke down. It went all the way down to 239. Congratulations for all you guys who caught Tesla. SLNO never got to the 30-30 level. GameStop. Remember we talked about GameStop over the weekend update? We talked about it. That movie came out. It was a dumb money, right? Dumb money. They couldn't get the stock going on dumb money. They couldn't get the stock moving higher on the Ryan Cohen's promotion to CEO. So I said, hey, it's common sense. Whatever doesn't go up, must go down. GameStop, beautiful move today. 1618, if it builds below, it can flush. Here is GameStop. Beautiful, beautiful flush. It took out the 1618. Pretty much closed within 10 cents of the low of the day. GameStop looks lower. Congratulations for all you guys who are still holding a runner. CLBT, if it builds below 668. Yeah, it went down like 6.7 cents. Nothing crazy yet. RVNC is pretty much still there. I still like this thing that starts cracking 11. And NVIDIA. This was definitely the trade of the day 100%. NVIDIA upgraded by Goldman Sachs. 441 meets to build, right? Meets to build. And here was, you know, here were the notes. This thing started just going nuts. It went all the way up to, it actually went up to 451.75. So, I mean, $7, $8 move on NVIDIA today was absolutely awesome. Again, sell the position here in the 50-day moving hours. We'll buy it back on 60 minutes support. Tesla gave us a nice little pop here. 252.20 is a 60-minute supply. Needs to reclaim and build for initial 254 push. Here is Tesla, right? So it took out, you can see by the five minute here. It took out this 252 level. Look where it went. 254. So again, supply zones are very, very important to understand where your next level of appreciation or depreciation can be. So that's it guys. Really solid day to start off the fourth quarter. Again, guys, going into tomorrow. Let's definitely watch the video if you can confirm the 50-day. Let's definitely, definitely watch Tesla if you can confirm the 50-day. They were coming for the 257.50s and the 260 weekly calls. Let's see if they can get back to sucker above the 50-day supply because if that's the case, everybody knows the video is a great runner above the 50 but Tesla just hits different. Guys, God bless everybody. If you are joining us tomorrow in the webinar, welcome aboard and I look forward to working with you soon. Take care everybody.