 The problem that we're gonna run into tomorrow is and if you are charting tonight again, and I really really encourage everybody to do so You're gonna see a lot of names in the middle of their channels, right? So for example, just like the Q's right the Q's are just not at the lows not at the highs It kind of right in the middle right now at least for now you can see a lot of things So for example, if you're charting tonight, you'll see that Apple though again in a dead downtrend And that's kind of the theme for every single stock dead downtrend again still needs to take on that level Netflix 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. Welcome to another edition right the last Update of the week it is Thursday. Hope everybody is having a good day Hopefully everybody's alive and kicking and healthy again at the end of the day. That is the most important part So let's talk about the market. So Yesterday if you watch the video it was very sell buys, you know pretty sell buys to go into the day The one thing that I really wanted for today's trading session. It was obviously a gap up Okay, a gap up a stuff into supply And once you started seeing things started losing their 60 minute ranges Obviously that have been a clear short and obviously it would kind of confirm to what we saw yesterday on that pretty aggressive sell off to the downside The one thing that that happened That sometimes again, you have no control of so we gap down You know pretty aggressively, okay, and I say this all the time If you've been watching this broadcast when you get a very aggressive gap down, okay There's only a couple things you can do. You could do nothing. Okay You can short into Into this weakness, which is a disaster. Okay, absolute disaster Or you can wait for the channels to kind of set up back to the upside To get the value because again if you've been watching this broadcast for a while You kind of know when stops when stocks gap down very very aggressively, especially after A very aggressive ugly session like we saw yesterday Usually it's going to put in its average to range on that pre-market low, okay And we've been talking about this, uh, you know, many times, you know, very very many times So anytime you get a very aggressive move to the downside, especially pre-market Your job is to kind of wait to see these channels confirmed back to the upside and go move ahead because again Gravity is real But when you kind of measure gravity with emotional sellers saying you know what? I'm going to give it one more day and they woke up this morning They saw the futures down and they said well, yeah, I don't want to be I don't want to be long the stock Let me just kick it out at any price and and that that play works a lot just because again Fear level, you know takes over common sense and a lot of traders basically don't even understand The levels that they're making sales in so that was kind of our dilemma At the open and if you saw where the cues went pre-market, okay, you could clearly see they just missed Taking out a big macro range and we'll talk about that in a second But what that did create was an opportunity back to the upside So when we talked about this morning, and this was you know, this was eight hours ago A huge gap down this morning, although again, I am sell biased and again We were definitely watching very very specific names after the gap down The initial value will be to the upside because again the average range or most of these stocks Already put in at the open. Let's watch for channels to develop Let's wait patiently. You know again. There is no rush. Good morning And although again, I was really really sell biased today Again, I was sell biased in places that again were extremely lower So if you look at last night's watch list, which again if you guys watching the video you guys don't see What the hell did I put the last night's watch list? Um, okay, that was weird Anyway, but if you look at last night's watch list again, this is what I liked last night Like, you know, I really liked amazon Going into uh yesterday's session I liked it at 2990 right below these two channels. The unfortunate part is it opened the 20 What is it? It opened up a 29 56 So again, I wasn't I wasn't going to chase it down down 40 50 points below The area where I wanted to short it, right? So there was a lot of names just like that So I just kind of wanted to make sure We waited for the better value play and the most amazing part again And I say this pretty much, you know every video all the time Again, you're not painted it. Remember just because you're biased to one side of the market It doesn't mean you need to stay there all the time. Again, this market is incredibly fluid It changes by the second your game plan is literally As good as the first two candles of the day because just so many factors Are coming in so many different players so many different events So many different headlines are coming in that a lot of times you you know really have to be Pretty quick on your feet and make you know make very very good decisions based on what you're seeing Not what your research told you was going to be happening the night before So we were kind of stuck and kind of stuck and rocking a hard place We either chased the volume down which was a big no no we do absolutely nothing But again, it's not really a proactive way to conducting business or we can wait for the channels We kind of got both. Okay, and what was cool about today's trading session was There wasn't like so many pivots like usually, you know, you turn around and say well, there's Netflix one and olibaba went and square went and this one what it wasn't like that because of the gap down We were a little bit compromised. So we really needed to stay patient But the most amazing part and I say this every single day. It's not how many trades you put on It's how many trades you put on properly and you know, we'll get to the pivots in a second But but going into tomorrow and again, this is kind of where we still talk about Even from yesterday, right? If you look at the cues, for example Okay, you again, you could still this see this continuous downtrend, which is very very important to understand So any snapbacks that we're getting and again, we said this exactly the same thing yesterday But any snapbacks that we're going to get there's a very very good chance that it's going to be met with supply And today was a perfect example. So we had that big reversal, right? So here's the gap down Right big gap down and held the previous channels low You can see here pretty pretty easily and it started running and the bulls had a chance to really really get aggressive And look where they got rejected right guys. Look what they got rejected right at the five day moving average And again, if you've been watching this broadcast for even even the last three four days, you know How important that five day moving average was so once the bulls Lost the five day again, you know, again, we're using the cues now As a broader measurement point, but once they lost the five day moving average a once really impressive rally By the bulls, especially in the dow that that was up like 300 and change Went by really really quickly and you can see here what happened in the last hour, right? Like really really they got rejected and just really tanked Same thing with with the dow, right same thing with the dow Same thing with s and p will you know kind of illustrate that with the with the spies So it's very very important So these levels no matter what you're looking at individual setups or whatever trader you are These levels are very very important macro So for now at least we have an idea of what we need to see for the bulls to wake up And again, as you can see this is a pretty much dead, you know dead Dead ringer for a downward spiral until we start reclaiming So again until we see a close for example On the spx, let's just use spx right now until the spx reclaims 30 to 80 Again, you have to assume the market goes lower until the cues Until the cues reclaim what is on the five day to 267 50 at the minimum right at the minimum again You can see all this macro channel a lot of trees in the forest. So again, we're not talking about Well, once they reclaim this area, we're going to go higher. No, no baby steps right day by day trade by trade So for the bulls to kind of get any type of any type of stability Any type of feet on the ground they need at least to get reclaim This 267 50 level and then you could start seeing a little higher levels again, but it gets it's again It's be very very tough Very very aggressive for the bulls to kind of make that headway So again, you have to be sell biased every single day Obviously trade both sides of the market But understand your macro levels and if the bulls cannot hold on to those macro levels You're going to probably see what we've been seeing now every single day They hit supply right hit supply rejected hit supply rejected hit supply today again rejected So this whole area here again, there's not a lot of room for interpretation here technically, okay It held this bottom range here around the 260 level on the cues Today and it held it today and it held it right here on the lower Bollinger man But eventually they start the bears start building below that 260 level again Then we start going to that 257 weekly that we talked about yesterday So it's very very important for the bulls to kind of Put up a fight start reclaiming some at least small to intermediate Although important macro levels, but until then again expect more downside pressure Again, will you have days that the stocks will wake up? You know just go nuts. Absolutely. We actually saw that today On a lot of names. We saw that today in amazon. We saw that today in tesla. We saw that today in the video We saw that today in square So there's going to be pools of intervals that you could definitely take advantage of but again guys And again, this is reality. Again, I'm not biased here. This is not a biased opinion long or short I'm not a bear again. Again. It's very very important to understand that but again, I'm a realistic person Right. I just see technical analysis. I appreciate it and until it tells me different You have to kind of go about your business to that direction of the market The problem that we're going to run into tomorrow is and if you are Charting tonight again, and I really really encourage everybody to do so You're going to see a lot of names in the middle of their channels, right? So for example, uh, just like the cues right the cues are just not at the lows Not at the highs to kind of right in the middle right now at least for now You're going to see a lot of things. So for example, if you're charting tonight You'll see that apple although again in a dead downtrend and that's kind of the theme for every single stock Dead downtrend again still needs to take on macro levels again. Netflix same thing, right? Couldn't rally today dead downtrend again Now at least we have a very very specific area here and maybe if it starts taking out this area here on this two On this excuse me on this rise in support here Maybe it starts taking out lows. So again, we definitely have to watch Netflix for tomorrow Alibaba again Not a clear chain. You know not a clear choice Of a really aggressive sell-off But again, you could start seeing it visually how close we are For a macro breakdown again if you look at for example Uh, a name like facebook had a chance to really reclaim the five-day support and again got rejected And now again the bottom of this channel is really ready for play google the same thing, right? Google the same thing they got rejected again. You guys see the theme here, right? Rejected at the five rejected at the five rejected the five again It's very very close to taking out macro areas. So uh, you know, look, I'm definitely self-bias once again Going into tomorrow's session, but but again, we will have pockets of strength. I use that pocket of strength for Um To take advantage of those intervals But the one thing that you will see uh that we saw today on some of the moves back to the upside The spreads are big the liquidity is thin again when you have uh a self-cited bias market, right? Or at least a self-bias market interval you're not going to have ridiculous liquidity So for example today, uh amazon ran up like 60 points off the pivot It felt like it ran up like on a thousand shares I'm exaggerating obviously, but it felt that way So going into tomorrow anything that you are trading make sure that again, especially on the long side Curb your tears. Okay, uh, especially to the upside curb your tears You're going to see a lot of liquidity completely removed even name like facebook That's traditionally really really aggressive with volume. Although the volumes there you're still going to see really really thin Uh liquidity and again remember liquidity and volume of two different things You have a lot of volume and still have a stock trade very very thin Um, so that's that so if you look at uh the pivots today Again, there wasn't a thousand pivots, but the right ones really did very very well And that was very very important. Uh, this was my you know, definitely my big move of the day here Zm 484 81 and this one I still like lower for tomorrow Um, so 484 41 rises at four if it builds below can flush more So zm you know did very very well and it closed at the lows of the day So here is zm right over here. So here's the whole rising support here. Here's the whole 480 481 and this thing got just again it got murdered I think I what other you know, what other adjective you want to use got really really hit Traded all the way back down to this 459 level If you look at uh, if you look at the daily chart, you'll see that again it closed below the five day, right? That's the theme So if it confirms the five day tomorrow and confirms today's channel The next move down is all the way down to 438. So I I definitely like this one On the short side tomorrow, obviously if it confirms, but a really good move I know congratulations a lot of guys who caught this thing Facebook traded right back right just a little bit shy Of that 45 level never even came close to confirming And this is kind of what we meant by there was some shorts that did very well Some longs did very very well, but again, it wasn't like ran the ones the ones that did very very well or names that We focus on we trade every single day. So that was actually very important Amazon obviously never got it down to the 29 57 level That was you know, kind of an area that I wanted to see for more downside selling and never got there Zi never got the 37 Zm never got the 503. So there was a sell bias To the downside there was a buy bias to the upside and again, that's the whole point of pivots pivots do not have They don't have a bias. They don't have an opinion. Which way they want to go They're either going to confirm to the upside to the downside. So we have their channel 503 to the upside 484 to one to the downside, obviously the bear has definitely won that battle But this was definitely the biggest point mover of the day Amazon 3002 needs to build and amazon went nuts. I mean they had their whole They had their whole amazon day today, right and it was joking around making fun You know playfully making fun again I don't want to ruffle any very sensitive tesla tesla, you know boys and girls It's talking about like when is amazon's battery day? Okay, obviously i'm joking So here's the whole channel right here, right this whole channel right here Here's the 3002 and just went absolutely nuts Traded all the way to 30 70 really really big move and again You could see the common denominator why technical analysis works. Look where you got rejected got rejected right into supply And immediately turned around again. It's getting a little bit of after hours boost I think somebody got I think somebody upgraded them But again stock this is the whole point of stocks trading into supply. So this whole channel for tomorrow Obviously will be going important and obviously this channel to the downside Which we talked about this 2956 level will be important as well. So again, uh, something has to give there as well So yeah, take the move, uh, doc you never got there Uh, never got there a netflix never confirmed down. It went to like 47 467 60s never never confirmed here Facebook stalled out right at the 52 level as well again when things got pulled things got pulled very very aggressively This was definitely at least the move today and it was pretty Off this pivot. It was very very aggressive. Um, I bought it a little early initially I wound up losing a couple of bucks, which wasn't a big deal because I wanted to test that level The second time I went in a little bit again a little bit lower price I just wanted to put the macro level on the twitter feed I broke even on the second time the third one off this 385 386. That was the big move I thought this thing could get to 400 400 was right to the move and again macro levels Are very very important if you look at tesla, right and if you see where the If you see where the 485 485 486 level was you see this candle right here is the opening range candle right here 485 All right right here 485 so 485 486 finally when macro went right to the 400 level so again It's not how many you do. It's how many you do properly again tomorrow I think we can find ourselves in a very very Odd position right of kind of waiting maybe a little bit longer for things to play out But if things do start to sell we'll obviously Go full concentration to the sell side and wait for macro channels to confirm So guys have a great night everybody god bless and I wish you all the best nothing, but love. I'll see you tomorrow