 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 the AccessToTrader.com nightly wrap up show. Hope everybody is doing well. Last time we spoke was on Tuesday. I forgot to mute our squawk box. So if you guys heard a Darth Vader type of voice speaking over me, instead of the mic, my microphone, my speaker picking up the squawk box, it went through my computer. So I apologize. I think it was broadcasting news three separate times. Well, as I was talking, I didn't realize that. So I apologize for that. Yesterday there was no nightly video, not because anything crazy happened. I tried a new protein shake. Some of you guys know some of you guys don't know I've given up a lot of a lot of extras in life. And I've given up dairy and I must add some dairy because it ripped up my stomach like really, really bad without going into detail. Yada, yada, yada. There was no video last night. Let's just keep it. Let's just keep it domesticated here. So a lot of things happened yesterday, right? A lot of things happened, a lot of levels that we talked about the last several days. They went, bye-bye. Let's start off with Tesla, right? Let's start off with Tesla. Actually, you know what? Let's start off with the Q's, kind of the big picture, and then we'll work our way from there. So we talked about the importance of that 364 level, probably three, four videos in a row. The Q's finally went through that level, put them to close yesterday, tested its next support. And yesterday, obviously, Netflix and Tesla came out with earnings, though the big things. And the question was going to be, well, were all those call buyers? You guys remember all those call buyers on Tesla, were they going to be right, right? As people always say all the time, somebody always knows something. Well, not necessarily, right? And that's kind of the point in reference here. So Tesla, we knew two things before their earnings. Number one, we knew that it better defend that 50-day moving average. As a matter of fact, I did a video, I think three, four videos ago, and saying, hey, if Tesla loses the 50-day moving average, it's probably going to be very, very bad, right? The problem was, it was fighting with the 50-day moving average ahead of earnings. And I kept on fighting, kept on fighting, kept on fighting. And then finally, earnings came out. Yes, they obviously, everybody knows by now, they literally missed on everything. They missed the top and the bottom line. They missed their free cash flow was less, their gross margins less. The good news is they sold like $23 billion worth of cars. So that's good. Obviously, the market did not like that news, or at least it did not like that news after Elon Musk started speaking at the conference call. The new truck that they're coming out, blah, blah, blah, blah, blah, everything's all great. And Tesla, the initial move was down, and then the stock actually went green. And then blah, blah, blah, the Cybertruck and all that extra talk. And Tesla last night got hit. You know, got hit pretty hard. And when you woke up this morning, it kept on getting hit hard. And I said this morning, I think the stock will see a 10% move. It will trigger SSR. It did that as well. The other one, right, is Netflix. Netflix was being sold for months, right? It's being sold for months. And you can see here, again, what happened? This was kind of my point of reference on Tesla. What happened? What could happen if Tesla lost a 50 day? Well, we saw what happened when Netflix lost a 50 day, got absolutely killed. And they actually came out with a pretty good quarter. If you look at Netflix quarters, you had your revenues, they beat on estimates, right? They beat on revenues. They missed on estimates, but their streaming was up. And to nobody's surprise, because they keep on saying it over and over and over again, guess what? They raised prices. Again, I think I started out my Netflix membership years and years ago was like $9, $10, then it went to $12, then it was like the $15. And now it's going to be like $22. Again, I'm on Netflix. I'm one of these spore parents, like my kids are constantly practicing when they're practicing and I'm there, I'm watching Netflix. So I would pay whatever it takes to keep Netflix. That's much I love the content there. But a lot of people walt, but to be fair, the people are smoking, right? The people smoking today, Netflix had a really, really huge day today up about 55 points on the day. And crazy enough, right? When one stock loses the 50 day, Netflix reclaimed a 50 day moving average. So you have two different stocks going in two different directions. And now the question was last night, was Netflix going to pull everything up or was Tesla going to pull everything down? We got our answer not right away because the market was actually holding up fairly well. Everything was going well. And then a little guy, maybe you guys heard of his name, little guy by the name of Jerome Powell, right? Jerome Powell started speaking right around noon. And if you start seeing the volatility right around noon, you knew, right? Jerome Powell started speaking again without going into every detail. I'm sure you could Google it as million of sites that will tell you exactly what he said. For me, it's all about the price action. The initial move was down and then it went up and then all the way down into the close again when you want to trade a Fed date. Well, you got an extra one today at noon. And in the process with the sell off Nasdaq down 128 points, the Dow today got hit for 250. And with all that said and done, we closed right on, right on the 100 day EMA on the Nasdaq 100. And again, if you've been following this video and following this broadcast, you kind of knew the importance of 364. Now, right down this level, guys, the importance level right now is 359. Okay, that is it's no room for interpretation. 359 is the line of the sin and the cues. Because if we start losing 359, we're going to go back down and test the lows from September, which is roughly 351, 352. So for all you guys who are trading on the ETF side, again, Mike, kind of thank you for tuning into this broadcast. And by the way, if you are brand new, please come aboard, like, subscribe, share. I'll give you as much value on a non-biased basis as possible. So right down this number, 359, right? 359 is going to be the line of the sin and the cues. The cues start losing 359. I do believe we will see 351, 352. It doesn't have to happen tomorrow. No, it doesn't have to be tomorrow. But always, again, be prepared, settler. So if it does happen and it does start to confirm, you will be absolutely prepared. When you look at the SPYs, you know what, let's use SPX as a proxy. Let's use the SPX as a proxy. So SPX, again, lost this 4,300 level that have defended us several times. Now, you know, watch that 4,268 level. If it starts losing 4,268, especially on the intraday basis, we could get all the way back down again to the September lows of roughly 4,228. So again, for all you guys who are trading the SPX, keep an eye on 4,268. Now comes the individual stocks, right? And this is kind of where we make our bones. We'll get the Netflix and Tesla in a second. But look at names, for example, like AMD, right? AMD had a big move down. If you guys remember, a big move down from this 104, 75 level below the 50-day moving average. And now it's just sitting here. You see that three little soldiers? It's sitting here right on the 150-day EMA. If AMD starts losing the 150-day EMA, it should test back that 98, 70, 99 level. So a big, big line in the sand here for AMD. Look, for example, Apple, right? Look at Apple, for example. It looks just like AMD as well. It's right now being defended on the 150-day EMA. If Apple starts losing the 150-day EMA and NASDAQ starts losing that, and the keys start losing that 359, Apple has a lot of room down as well. So keep an eye on that as well. NVIDIA, right? NVIDIA. NVIDIA, NVIDIA, NVIDIA, NVIDIA. So we talked about NVIDIA on the five-day. We talked about NVIDIA on the 10-day. Guys, look how close NVIDIA is from losing the 100-day EMA, guys. This is now tested back two days in a row. It's held that level two days in a row. If NVIDIA starts losing the 100-day EMA, now you got room to the September 21st lows of 409.80s. And if that starts to crack, you got 407s, and you got a lot of room down ahead of its earnings as well. Let's talk about Netflix, right? One of the only bright spots here on the board. So now Netflix, you know, it's up 55 points today. Is it possible it has a res date tomorrow, a little bit of profit-taking? Absolutely. You know, absolutely. It's in the cards. What I want to do, especially tomorrow at the open, if there is a light volume decline into rising 60-minute support, I think there's a bounce play there, and it wouldn't shock me if it does open up red tomorrow, goes red to green, and at least gives us a trade to the upside. But boy, oh, boy, very, very impressive. And now let's get to Tesla, right? Let's get to Tesla. So Tesla right now, as you can see, is very, very close to the 200-day moving average. We had several pivots today on Tesla. Again, I'm trying to cut this broadcast a little short because I have to go take my kids, well, my son, excuse me, to practice. I think the next couple of days, again, doesn't necessarily have to happen tomorrow, but I think the next couple of days, Tesla will probably test the 200-day EMA, which is roughly 214. The big level then comes, right? The big level then comes on the August 18 lows, right? That is the mother of all support because if it starts losing the August 18 lows, guys, look how much room you have. Remember, there's no catalyst left, unlike a name like NVIDIA that still has to report, Apple still has to report, AMD still has to report, Amazon still has to report. There's nothing, right? There's nothing on the horizon that is going to be a catalyst for Tesla. The first order of businesses, I do think, I don't, again, doesn't necessarily have to be tomorrow, but I think Tesla will test 214 in the next couple of days, and if it starts losing the August, right? The August two, the August lows, I think there's a lot of potential back to the downside. So, again, crazy market, a lot of bullets, a lot of grenades, you have Fed speaking, you have earnings all over the place. Next week, you have pretty much everybody else reporting Apple and Amazon and Microsoft and Google. So, we're going to be busy. We're going to be definitely, definitely busy over the next several weeks on earnings, but the most important part, guys, and I say this every day in the webinar, stay patient, right? Stay calm. Not every single training day is for everybody. Every single trader is built differently. If you're an experienced trader, you know the ramifications. If you're an inexperienced trader or start getting your feet wet, days like this are very aggressive for you. When you're looking at Netflix buying up 50 or Tesla shorting in the 20s, it's a different ballgame, right? So, you have to really be an adult about it, depending on your level and say to yourself, well, here's my account, right? Here's my account. Here's my pain threshold. Here's my level of experience. Is this the day for you? And if that's the case, right? If the answer is yes, then that's great. You're trading like everything is all good in the world. The problem is if you're not experienced, right? And this is something that's going to make you uncomfortable. Don't ever put your money. Don't ever put your feet in the fire if you fully don't understand the ramifications behind it. And that's why it's such a shame with all these alert services popping up. You're trading. You're literally trading. You're putting your money on the line with something that you fully don't understand with comforts that you possibly don't even have or the experience to really understand why you're putting on the trade. And unfortunately, guys, that is the fool's gold. Once you put yourself in a situation that you fall off whatever process it is, doesn't have to be the PS60 theory or I am a little partial to it. The point is put yourself in a situation that you know exactly why you're putting on the trade. You know your risk level. You know if it's a scenario, it's risk versus reward versus reward versus risk. That's two different types of day. We talk about that all the time in the premium. Are you getting a premium hand? Are you getting a distribution cycle? Is the market stuck? We went through all that spin cycle for the last couple of weeks and we're finally out of it now back to the downside. And that's exactly what we talked about. All the levels on Tesla got confirmed. All the levels on the Qs got confirmed. Now we're just waiting for the next shoe to drop if that's the case. Is it possible? Again, we have an inside day tomorrow. Of course it's possible, but boy oh boy, it's very hard to imagine that Tesla at some point tomorrow won't be read again and potentially test that 214 level setting up for a potential August lows strike. So guys, have a great night everybody. God bless you all and hopefully everybody have a great trading day. Hopefully everybody will have a great weekend and I will see you all on the weekend update. Take care.