 Even though we'll have some days that the market's going to take down, you can say, I can't believe. I just bought the top again. That's the whole point. That's the whole point of every single video that I've recorded in the last couple of weeks. Don't look at stocks at the top, right? Here's a perfect example. This is rabbit. 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 of the Access a Trader.com. We can update show hope everybody is doing well. So let's talk about it. Summer is slowly but surely going in the end of the down stretch motion until we hit Labor Day. And all of a sudden, kids are back in school. And next thing we know, we have winter here in the Northeast, which sucks. So let's enjoy what we have now. And after I'm done with this, I'm going to enjoy summer, which is most important part. Again, the old myth, and you hear people talk about, oh, the summer time is slow. The market is slow. Nobody trades in the summertime. I guess it all depends what you trade, right? I guess it all depends what you're looking at in the markets. Sometimes the market is good for one group, and maybe it's not good for the other group. But the one group that continues to be very much alive, whether it's spring, summer, fall, or Sundays and Tuesdays, right? Or Wednesdays and Thursdays and Saturdays. There's still technology, there's still high beta, and still the stocks to have the biggest average ranges. Again, we'll get to that in a second. Another pretty much winning week for the market, you had the Dow flat. You had the Dow flat. I didn't realize that. You had the Dow flat, S&P up 4.10%. And the NASDAQ, despite giving a little bit of profit taken today, up 2.2% for the week. And more important is, again, we continue to build off this 296.75 level that we've in nausea covered for weeks and weeks and weeks before we broke out above that level, because that was the 50-day moving average. And again, a healthy market or an organic market, what it looks like, it kind of looks like this. You have three, four days up, and you have one day that's flat, or one day that's down. That's what an organic market looks like. We were going up, and ironically, we went up eight days in a row on the NASDAQ. So it was healthy. We saw some red. It's a very good thing. But what we talk about all the time is the indexes don't mimic the action. And even though you saw the indexes red at some point today, or three of them at one point before the Dow kind of rallied and the NASDAQ only finished down 65 points, you saw those are pretty good moves and a lot of names to the upside. And again, the biggest theme is the eyeball test. And we say this all the time. Your eyeballs don't lie. And two weeks ago, when all this started, we started seeing stocks missing. We saw Microsoft miss. We saw Google miss. We saw Meta miss. We saw Netflix miss, basically. AMD missed the other day. And next thing, Square last night, and AMC were all lower. And guess what happens, right? The new formula on Wall Street is, forget about good earnings. You got to have bad earnings. You got to cut workforce. You got to say really dark things, for the exception of the word bankruptcy, on your conference call. And you will rally. And that's exactly what happened. If you're not still sure which way the wind is blowing, again, look at Square. Look what Square did today. Look what Square did today. Square got destroyed last night. They bought that dip faster. You can blink. It was up at $1.2 before it kind of sold off. Look at AMC, right? It's a movie theater, right? This is not Microsoft or AMD or something, blah, blah, blah. This is a movie theater. They sold the stock off last night. And then they rally. Not only they rally, they rally this thing up $3 and 1 half, which is giving it some daylight. Again, maybe not it's going to $1,000, but hey, you could get a second day wave. So the market continues to discount bad news. That's a good thing. Again, you can go on 3,000 different financial sites, 30,000 different financial sites. And they're breaking down the jobs number. And here's a quote, on Friday, US stocks open predictably lower, predictably low, right? Because if that was predictably low, you should have sent everything in on the overnight and the short side. Again, predictably low, OK. Rates jumped to wake of July unemployment. Wages rose fast as, OK, I have no idea what any of that means. I just want to say it out loud. I also want to say one thing before we get started. Yo, bro, smash the like button. OK, I got it out of my system. Other than that, again, the eyeball test is everything. It's absolutely everything. If stocks are not going down on bad news, if stocks are not going down on bad earnings, right? Well, again, that's the bull market. That's the whole point. And that correlates very, very well with what we've seen here in the last couple of weeks. Again, like we said, of course, you have down days. Of course, you have two, three down days sometimes retesting key levels. Like, for example, would it shock me that the Qs, because the Qs held the 5,000 moving average rather nicely today, but would it really shock me if the Qs lost 18 next week and went to 12, right? The rising 10-day support? Not at all. But again, that's healthy action. Stocks need to recharge. Stocks need to regroup. You can't just go straight up. Again, here's a perfect example of a stock to win straight up. And gravity took care of it, right? We talked about last night. We started talking about last night. Last night, you had Tesla. There was a vote, right? There was a vote if they were to split the stock 3 to 1. Most people believed that this deal was kind of a done deal. So the question was, how is the stock going to react? In front of the split last night, you had a bunch of 9.50, 9.75, 1,000 weekly call buyers. Again, this is a slam dunk, done deal. And then you had guys coming in for the 9.20 and the 9.00 puts. So again, it was a toss-up. Nobody knew, right? Maybe even if you had the information in front of you and said, look, the stock is in the split 3 for 1. We know this. They're signing off. You still can't predict price action. And the one tell-tale sign, this is where we talk about using your eyeballs as the judge, jury, and sometimes executioner. Well, it's what didn't happen. That was the most important part. And this morning, we talked about this, right? I go, look, Tesla last night, 3 for 1 confirmed last night, and the stock didn't react. That was your first tell-tale sign. If Tesla last night would have started building 9.50, not you knew this damn thing was going to rock it, but it didn't. As soon as they came out with the news that the board approved the 3 for 1 split, the stock did absolutely nothing. It actually started down-ticking. So this morning, when we woke up, it was down 5, 6 bucks. It was actually on previous days, a low of 9.18. And I started thinking to myself, oh, wait a minute. How can this thing be a slam dunk? How can this be 100% bias one-way direction if all retail is looking at one way? And I started thinking about it. I said, oh, wait a minute. There's some key levels coming up. And if the stock can't rally on the news that was quote, unquote, supposed to rally, well, two things indicate. Number 1, the stock is tired. Look, the stock is up almost 200 points in two weeks. We all agree on that. It's tired. And the most important part was it held 9.06. And here's the whole point, how I was thinking about it. 3 for 1 confirmed last night. Stock didn't react. It hit and bounced off the five-day pre-market at 9.06. That's the five-day moving average. It's up nearly 200 points in a week. If it can start losing that 9.03 level, it can see 8.80. It's all about nothing. Nothing about Tesla's going back to 600. The stock is going to zero, blah, blah, blah. Again, trades, channels. That's all we need. We don't care about data. We don't care about this. We don't care about that. We don't care about what the news is. It's how the channels react to the news. And Tesla was a perfect example of, again, too much, too fast. Too much, too fast. Here is the levels we talked about. This 9.06 level was the five-day. 9.03 was the level here. And it went all the way down to 9.80. And not only did it lose the 9.80, it went all the way down to 9.60. Again, does it mean the stock is broken? Does it mean the stock is now in a death spiral, going back to $646? No, it doesn't mean that. Maybe it takes one or two more days to kind of digest, maybe get down to back to this level here. But the bull market is still intact. Again, don't confuse weakness with stocks going lower. Stocks are going to move up and down all the time. But you've got to look at the big picture. And until the bulls defend the 50-day moving average, we continue to be in a bull bias. Even though we'll have some days that the market's going to take down, even say, I can't believe I just bought the top. Again, that's the whole point. That's the whole point of every single video that I've recorded in the last couple of weeks. Don't look at stocks at the top. Here's a perfect example. This is gravity. Do not look at the stock. They don't need any reason to come down and get profit-taking. But if they have one, if there is a catalyst that gets debunked by retail and they all jump in at the same time at the same price, it's going higher. That's when usually you get the rug pull and any stock that's in the nosebleed session, those are the ones with the high probability to get yanked. And that's exactly what happened with Tesla. Yeah, maybe if it confirms on Monday, if it confirms the 10-day moving average, is there's maybe another trade lower? I think there is. I think there is, depending what the market does, but at least you're getting a viable definitive area where to trade against it. If that level doesn't confirm, well, then maybe Tesla has a debt cap bounce back up, but if it does confirm, then you have a lot bigger level going on the way down. So what we do know going into this next week is the cues, right? The cues, the low today was 318.39. Why is that important? Well, that's the five-day moving average. You can see here every single time it hit the five-day, it bounced, right, bounced, and today bounced. So if we lose that 318.29, again, we're not going back down to the lows, we're gonna go back to measure potential, which there could be 313, 312. Yeah, it might be an ugly day if you don't know these levels exist and you completely shun yourself into the idea that stocks can never go down, or at least not move down. Yeah, you're probably gonna see a move down from 318 to 312, but don't worry, right? Don't worry, we're still in a massive uptrend even if you get caught in that spin cycle, whatever God you wanna pray to, but the point is you wanna be proactive in knowing these levels so you don't get sidetracked, that's very, very important. When you look at the SPY, again, same kind of scenario as the cues had a really, really big run. Again, you don't wanna start a position here, right? The cues, the spies broke out right here on the 50-day moving average. Again, the trade at 392 is completely different the trade at 415, right? The higher probability the move will come lower, right? Before it goes higher, and the question is, can you be solving faster, well, better or more equipped than to be in state and business, to be right? And that's exactly what you wanna do. You don't wanna chase the spies up here, the trade was right over here, but you can get a better level on a retest back to the 10-day moving average if indeed takes out today's lows of 409.60s, then you can get maybe a better entry somewhere around the 406 level, which is roughly the 10-day moving average. So look, I like a lot of names going into Monday, slowly, but surely, we're coming out of earning season, especially for technology. Let me see who comes out next week. I don't think Nvidia has reported yet. Let's see here, let's see here, let's see here. I don't think Nvidia has reported yet. So Monday you got Planteer, Palantir, Nanovax, Blink, Mara, nobody really there. Tuesday, let's see, nothing. TTD, TTD reports on Tuesday, actually like that, Coinbase reports on Tuesday, really, really big runner there as well. Disney on Wednesday, it's pretty much it, right? Disney, and you got Rivian on Thursday, not that Rivian's a big deal, and that's it, that's it for technology. I think everything else kinda reports, has reported or maybe reports next week. So it's a pretty basic, pretty basic scenario. Again, don't overthink guys. Again, I get this ass all the time. Well Dan, what do you think about the PPI? What do you think about jobs number tomorrow? What can I possibly have thought about the jobs number, right? The jobs number are either gonna be good or bad. Who the hell knows? I don't know, I'm not a scientist. I'm not an economist. I don't have an opinion, I don't know anything, right? That's the whole point. That's what these lines and these channels, they're the ones they're going to tell you what to do. We don't know, even if I had the jobs number in my hand. When I'm thinking good jobs number, right? I would have bet long, right? Good jobs number, things got young, right? So we don't know, we don't know. Don't try to overanalyze the market. Don't try to pretend you're smart. Nobody's smart. We're all dumb. We're all idiots. The only common denominator that we have that's a fair playing field with all of us have it at one time are all these charts. Again, you could look at a chart. Two people could look at a chart and say, one says bullish, one says bearish. Whoever knows how to read a chart better, guess what, they're probably going to win. And the problem with newer traders is they try to overthink. They try to overanalyze and they try to anticipate. If you overanalyze, if you try to overthink and you try to impress somebody to say how smart you are about your brief intelligent history about the stock market, I promise you the market will humble you in so many creative ways that you will not be possible. Don't think guys, remember, it's all about these charts. You don't need anybody telling you what to jump. You don't need it to ask anybody's opinion. What do you think about the stock? The same data that you're getting is the same data I'm getting. The only difference is I'm doing this for 23 years and a lot of you guys are doing this for 23 months and it's okay, you're not supposed to get everything. You're not supposed to get everything all the time. Enjoy the journey, right? Enjoy the journey. You don't need to outsmart the market. You don't need to pound your chest to show everybody how smart you are. Enjoy the journey. It's an infinite, infinite, what's the word I'm looking for? It's an infinite grind without a goal line, without a ribbon. You don't get a trophy at the end. So everything that you're doing, screen time, doing the research, putting in the work, it's going to only make you better. Time is the ultimate equalizer. Time is the ultimate teacher. And after a while, you'll be self-sufficient and it's hard to imagine, right? Especially when you're first starting out and you have no money and you have no process and you're eager to learn, you're eager to make $500 to turn it into $50 million, I get it. I see it on social media all the time. It's wonderful, wonderful. It's a wonderful thought. I'm also thinking I could dunk backwards with my left hand. It's probably not gonna happen. Anyway, guys, that's it. Some good ideas going into next week. I like Tesla. Again, I'll watch Tesla again to the downside. Again, quickly with the pivots. Tesla got absolutely manhandled today. 906, 903, went to 880 and then went to 860. First solar. Solars look good. I still like this first solar for tomorrow. 102, 20 needs to build. Here was first solar. Again, really they proved this is a pretty good action on both sides of the market. Here's the 102, 20, went to 104. If first solar can reclaim 104, maybe it goes to 107 next week. That was good. Obviously we talked about Tesla. Chui is a nice looking chart. 43, 50 needs to build. Here was Chui. Right, you can see it. There's a pretty good value on both sides. So here was the 43, 50, right? 43, 50 needs to build a close pretty much right at the highs at 44, 50s. It looks like has room here to about 46 for next week. Coinbase, oh, 51, 20 on TTD. Remember TTD reports on Tuesdays. So if you are swinging TTD, just remember, just be careful they are swinging 20. Coinbase came to the bottom of the range, actually made a low of 86, 50 today and then rallied right back. Same thing with the Vidya. Not a big move at all to the downside. Only went down like 30, 40 cents before it rallied back. Again, it really does show you how strong these stocks are. Microsoft, I love, love Microsoft for next week if the market continues to be good. You see how tight this channel is? So if Microsoft doesn't die in the next couple of days and starts taking out this channel here, you could start the next leg up. So Microsoft looks good. I also like the Vidya back to the upside. TTD, here comes TTD. It's a nice, nice little move on TTD this morning as well. So here is the 51, 20 and it closed right at the high of the day. This thing starts building 53. It could have the next leg up. Also, NET, what a monster today. We didn't trade NET today just because they had earnings. But what's going on here? But look how tight this thing is getting for, look how tight this thing is getting for Monday's session, right? They gapped up the stock, really big move and it just kind of went sideways for the whole day. Again, you don't have to be an experienced chart reader or a chart analyst to see the top of the flag here, man. This thing gets above the top of the flag here. This thing could go to 79, 80. That's it. That's it guys. So put in the work, right? Put in the work, have faith. Don't put in a lot of stress on yourself that you're trading for two years, one years, three years, that you have to figure everything out or else you're a failure. You're not, okay? This is just the normal organic way that traders make their bones, right? The faster you can fall in love with technical analysis, the faster you'll start seeing dividends because the technical analysis will love you back. Guys, God bless. Have a safe, wonderful, healthy weekend and with God's help, I will see you all on Monday. Take care guys.