 It's opportunist, there's nothing personal about these stocks. I love Tesla as a company. I love Tesla as a stock. I trade Tesla long, I trade Tesla short. It doesn't make a difference to me. It's just taking advantage of channels. There's no such thing as a bad model. 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 everybody, good evening guys and welcome to another edition, the Wednesday edition of the Access a Trader dot com nightly wrap up show. Hope everybody is doing well. Hope everybody had a good day. So let's rewind 24 hours ago. Great job by the Bulls, right? We talked about it last night in the video. Great job by the Bulls. They held this really big long rising wedge, which is great. I mean, absolutely great. They reclaimed the 150, they claimed the 100. And the one thing we talked about last night's video was they had a couple of chances to reclaim the 50 day moving average, which is again a very, very important level. The Q's actually went green twice yesterday and got rejected. And the last thing we wanted to see as they kind of rewinded 24 hours was kind of a sell off into the close. And unfortunately we got that sell off on the close. It wasn't anything huge, but the moral of the story was that we did get rejected off the 50 day moving average. And the question of today was, well, was there going to be a part two, right? Was there going to be another day that the Bulls are going to attempt to reclaim the 50 day moving average? Because again, the longer, if you remember, every single time we spoke about it, even going back to, you know, even going back to Jennifer even March, right? Even going to March 1st, the longer we started building below the 50 day moving average, the higher probability we were going to flush. And yesterday was the day one close. Today would have been day two. And we got our answer very, very quickly right away. So this morning yet, CPI numbers come out, very, very ugly numbers. And we already knew the line in the sand from yesterday's low was going to be this three time, 319 level. We talked about in the last night's video that we knew going forward that was going to be the line in the sand. And very, very quickly, you started seeing the great job that we did yesterday. The Qs did yesterday to reclaiming levels. They tried again today a couple of times, right? The only difference was there was absolutely no, there was no aggression, right? Zero aggression in any attempts on the rallies for the whole day. And then once they finally took out the previous day's low, it was it. I mean, that was absolutely, it looked like the Bulls completely gave up. And the interesting part about today's session for about 75% of the day, and we talked about this in the webinar and I talked about this on Twitter a few times that although the Qs took out the previous day's low, most stocks at one point, right? At one point of the day, we're still above the previous day's low. Like, well, it's kind of odd. So we're probably going to get a little bit more clarity tomorrow. So I went to run a couple of errands around two o'clock. I was done for the day. And by the time I looked at the tape, I said, okay, they gave it up very, very aggressively, very aggressively, close at the lows. And all majority of those names that were still holding yesterday's lows opposed to the Qs, well, they were below the yesterday's lows. And a lot of names are very, very close or imminent, right? To challenging the previous day's low as well. And if you look at the theory, and again, my whole theory of stocks go from supply to supply and demand to demand. That's the whole point of the PS60 theory. Well, again, this is day two below the 50-day moving average. Not only did we reclaim, or when I say we, the bears reclaimed this level. Now, again, if you just look at your eyeballs, you can see there's nothing in between the close today, the 316 close today and the lows today with 316 to the next support zone. Again, stocks go from demand to demand to demand. So it does look like, you know, based on, you know, you can go through a lot of charts today. If it does look like we are on a magnet to this 312.50 level, well, you know, we'll confirm to tomorrow's levels and test that level, you know, it's to be determined, but at least that's what it looks like. And it's very, very hard to turn around, turn around when you're doing your chart work tonight. I don't care how big or permeable you are. It's very, very tough to turn around to say, well, you know what, this market actually looks good. I feel good about being long overnight, you know, based on what information, right? We had a crappy number a couple of days ago. We had another crappy number today. The bulls gave up the previous days low. The bulls gave up the previous channels low, that 30, 20, that there was a great remount yesterday. And this is the lowest close in this whole formation in a very, very long time. And oh, by the way, now we're below this whole area that the breakout started. And again, if you believe in the theory, supply to supply, demand to demand and 312.50 is the next area. Matter of fact, if you go start looking at all these indexes, you kind of see the same thing played out. Like semiconductors took out this channel, right? The next thing they did, they went into rising support. So QQQ is a carbon copy. It's a mirror image of what happened with the semiconductors. Keep this in mind. The semiconductors are the ones who let us up. They let us down, they let us back up. And then they starting bringing everything down. And if you do look at a lot of setups today to the downside, you're gonna see there's a lot of semiconductor names, right? NXPI looks like it's right about the fall of the cliff. You have NVIDIA, very, very close. Again, it's just sat there in support two days in a row. One more day, this thing has what? 20, 25 points of downside. There's a lot of room to the downside. So the semiconductors look very, very weak. The NASDAQ 100 members in general look very, very weak. Even a name like Coinbase today, just to give an example. Even a name like Coinbase today that I really liked, right? Like I really liked this thing when I said, I'll show you the kids in a second. Now I think, I thought if this thing needed to really clear out that 307, 308 level, it touched 307 perfectly and completely died in a vibe. So buyers gave up, you could see it. Buyers completely gave up and you go through all the indexes one by one. You kind of see it. The semiconductors, the spies, right? The spies touched the 50 day moving average thing, right? We haven't seen the 50 day moving average since January, March, the 25th. Now again, keep this in mind. Last time we hit the 50 day moving average, we closed on a green candle, which basically meant we touched this area and we closed higher than we opened. Today it was a different story. We touched this level, closed at this level and it was a red candle basically saying it was a lower close than the open. So we're kind of set up for tomorrow, okay? It's very, very tough to have a debate with somebody to say, wow, this has to be a great overnight. You have to buy the dip based on what, right? Based on what? I mean, if you look at charts tonight, there's a lot of charts that are a day away from getting hit. I mean, really, really getting hit. Is it possible? Is it possible we gap down tomorrow, reclaim levels and really look anything is possible, right? But just my game plan going tomorrow, I'm so biased, I mean, I'm so biased until the market gives me a reason not to be so biased. And if you start looking at a charts from different industry groups, you'll see it. Boeing looks like it's a magnet to this 214, 215 level, bigger names, names like Amazon had this really great engulfing candle yesterday, but now it looks it's like a day away from giving up, what, another 45 to 70 points, right? That's a lot. Tesla broke the previous days low today and it's kind of a magnet here to this lower channel here. There's a lot of names, right? You could go through a lot of names today. Etsy came out with some undesirable earnings last week and again, it's flagging and held the same bottom channel here three times in a row. It's flagging. If it releases that, then maybe it's just the bottom low. So my game plan for tomorrow is obviously any strength. If we gap up tomorrow, anything, anything that's on my watchlist today, I will be watching for today's confirmation to the downside. And if whatever reason, we kind of hold some sort of levels, then look, then I'm gonna give the bears at least a couple of candles to prove me wrong. And if there's a couple of candles that the bulls start getting very, very aggressive and start reclaiming levels, then hey, we could always switch back to the upside bias. But again, I don't see it, right? I don't see it. Again, it could be wrong, right? It's not gonna hurt. It's not gonna cost me any money to have an opinion and be wrong. But the way everything is playing out, obviously there's a big line in the sand here for the S&P 500, right? The spies, this 404 level is definitely the line in the sand. You have cues already broken below yesterday's low. Any clothes below 319, we closed $3 below 319. So we're set up to the downside, right? Our job right now is to find the best setups to the downside. There was several pivots to the downside. They got aggressive. Tricky, little bit tricky they'd say just because again, it felt like almost kind of a hangover. I think a lot of traders want to see if indeed we could rally back like we did yesterday and we didn't. So today was a completely opposite of yesterday's session. It felt like the bulls gave up very, very quickly and really didn't put up a fight. Alibaba, you have earnings tomorrow, pre-market obviously it's going to affect a bunch of names on the NASDAQ as well. So again, we'll see, we'll definitely see. That's the best way of saying it. You have to have an opinion, you have to have a bias, you have to do your research to play out on that side of the market. And then you have to see if everything confirms. So yes, I am definitely a sell bias the least to start the day tomorrow and if things start firming up, we have some names to the upside for example that I'm watching as well, like RBLX, right? Market Turns, RBLX, you know, rest of today had a nice res day, this channel is still on the table. That looks pretty good. And so if we rally, you know I have some names I'm watching to the upside like VTRS for example, nice looking chart as well, right? It's coming off the bottom here, reclaim daily support. So there are some names you could trade to the upside but my initial game plan is definitely to the downside I want to give the bulls, excuse me, I want to get the bears the benefit of the doubt tomorrow and if they do confirm things could get aggressive. So let's talk about today's pivots and you know, pretty simplistic day here. I talked about it last night on the video and I talked about it this morning. I felt that for the majority of the day today you're probably going to see a lot more chop. You're probably going to see a lot more contraction contraction, cyclists contracting channels. That's kind of when you saw it today I think the biggest poll came after I left for the day so I didn't see how aggressively Tesla got pulled after the initial at 492, 593 poll. But you could see, you could definitely see how stocks kind of gave up and the moral of the story is we'll see what happens tomorrow but I'm definitely sell by. So again, here's the first pivot of the day QQQ macro 319 yesterday's low. Again, that's the line in the sand. There's certain times there's no reason to have a debate if yesterday's low was the bottom of the channel the rising budget 319. Well, that's going to be the line in the sand. So here are the Q's as you can see here here are the Q's it took out the 319 traded to the low here pretty much at 316. I still believe if Q's confirmed tomorrow it goes down to that 312 level. So good job for you guys. We're holding some Q's overnight coin 307 308 needs to build they report Thursday and it looked good for a while. Right this morning it actually looked good blah, blah, blah, blah, blah and look behind the day right the 307. So it couldn't even take out this channel. What about it would have been a really good trade if it were taking out this 307 308 level traded right to 306 98 and just kind of died on the vine very, very quickly. RBLX obviously watching. I still like the 78 level tomorrow for RBLX assuming that the market is good. Go go and never got to 1185 12. Initially, I put Fubo on the watch list 22 228 and didn't make a difference. I made a note up above. It's too little to extend it. So I kind of pulled and never got to 22. Anyway, Tesla, right? Tesla 598 597 for builds below can flush. He was Tesla and they held up Tesla for pretty much the whole day, right? And then they finally gave up that 598 right here this whole channel here the 598 597 level. It went down to like 592 off that push and then after I left it took out the 592 and put them below all the way down to 586. So if you do still have some Tesla overnight, there's a shot, right? There's definitely a shot. You can see maybe the pre-market lows from yesterday. We'll see what happens there but there's definitely a shadow there. We're gonna watch NLOK beautiful move here. Beautiful move, one of the very few moves on the long side that were good, NLOK 2375 24 needs to build, right? So here was NLOK really big move here. We briefly talked about it last time in the video but NLOK it took out that 24 doll level it just absolutely exploded all the way up into the 25s. Good call buyers came in at the open as well. Amazon 3174 big 60 minute support if it builds below can flush. There's one more area there, 3165 to use as a guide just in case it holds. And here's Amazon, right? Here's the Amazon pivot, here's the 3174, right? So here's the 3174 right over here. It took that out and went all the way back to 3146. Before if 3146, I believe that was me the bottom of the channel actually traded down to 3133 but again, it still hasn't even taken out the previous channels low. And if it does tomorrow, this has a lot more room down. So good job for all you guys who traded Amazon. I said, look, stay patient. Let the morning play out the way we talked about on morning notes, let them pick a side. And for a while they were playing pinball and they finally gave it up but towards the end NLOK 25s. Here comes Amazon, take on the way down. Ryan, new lows on the Qs, obviously got hit. Again, just never got that 307, 308 level, Amazon, new lows, and that's it. And that's it. So I think going into tomorrow again, like I said, I'm sell biased at least from the start. I definitely wanna see aggression from the bears, right? To take control and really hammer the point home. But again guys, just remember, there's no such thing as a bull or bear, right? There are traders that do this for a very long time. It's opportunist, there's nothing personal about these stocks. I love Tesla as a company, I love Tesla as a stock. I trade Tesla long, I trade Tesla short. It doesn't make a difference to me. It's just taking advantage of channels. There's no such thing as a bad market. There's a bad process or a bad lack of process. The market is gonna go up or down regardless whether you participate or not. So if you wanna sit there and sit there and belly ache, talking about the stocks are going down and you've never seen stock prices falling, wake up, this is what the market is. This is anybody who's been trading for a long time. The market goes up, the market goes down. It's nothing personal. It's just you have to have a strategy or at least a process that your money is safe. Whether you trade both sides of the market or not, that's your prerogative. Whether you're an active trader or you're a shareholder, that's your defined lane. But again, just recognize folks, we don't have a linear bull market. It feels that way, right? But if you've been trading long enough, you kinda know, right? There's been periods of the market, periods of my career ever since 99. There's really good runs for the market and there's really bad pulls of the market. And again, this is not a big run. This is not a big decline yet. This is just the market taking advantage of no catalysts. Earnings are pretty much out of the way. Earnings were sold no matter how good the report was. And this is just kind of a ramification of what happens next. So we'll see, right? So we'll see. So that's it, that's it guys. Have a great night everybody. Get some rest. We should get some pretty good value tomorrow. Fingers crossed. And with God's help, we'll see you all in the field. Take care guys.