 If you look at individual charts, right, names like Amazon, for example, right, you can see here, they're right on the 50-day moving average. If you look at Facebook, they're right below, right, rising support just needs to clear out this linear regression line. If you look at Netflix, right, they're just one day away from testing the support as well. You look at Tesla, for example, closed right on 50-day moving average. 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, and welcome to Tuesday, Tuesday edition of the access to trader.com nightly wrap-up show. Everybody had a good day of trading, so let's talk about it. Okay, so we really didn't know what to expect today, going into today's session. I noted this on the weekend update that the fact that the NASDAQ, again, I want to use the Qs as a proxy here, because again, 99% of the stocks that I trade revolve around the Qs. I kind of want to keep it a little basic. So the Qs had this really aggressive bounce. They really stopped just attached short of the rising 50-day moving average on Friday. The problem is they didn't do anybody any favors. The bounce was so aggressive that it left everything in the middle of the channel. So coming into today's session, I didn't like the value at all. I thought the value was very, very hit and miss. We actually talked about on the video that airlines were looking pretty good and cruise ships were looking pretty good. So beta was kind of like a 50-50 proposition. Again, we needed a little more clarity to try to figure out what happens next. And the most ironic part about today's session was that there was a lot of strength within the weakness. Again, you look at the final tally and you take a look and say, all right, the Dow was down 630 points. And as a composite, obviously, the hardest hit almost down 500 points. But there was really a lot of strength. And you saw really good early strength and names like BEYOND, for example. I just want to show you kind of, you know, this is the morning. You saw BEYOND very, very strong and Roku very, very strong and Peloton really, really strong as well. NKLA had news come out that General Motors are taking an 11% stake. And slowly, but surely, you really started to see good value. So at some point, like around lunchtime, I said, I go, wow, guys, we really have a lot of setups going into tomorrow, which is, you know, which is, you know, kind of four hours prior to the close. I go, if you're looking, if you really think about what the market is doing right now, we're not doing, it really does show you how much strength there was. Again, this is why we let everything play out. And slowly, but surely, and you can see by the cues, the market was getting stronger, right? They were bouncing, market was getting stronger. And the next thing you know, the last four candles of the day, this is the last four candles, one, two, three, four, really, really aggressive selling to the close. And it really does remind me of this scenario of kind of the chicken running around without its head, right? You ever see that this scenario, the body just runs around right before the chicken's about to die. And that's exactly what it kind of looked like today towards the end, that the chicken was just running around without its head. And now the body's about to fall. And the most amazing part about this business is just when you think something is about to happen, okay, it goes the other direction. And this is why we always talk about waiting for confirmation, have an opinion, but don't overthink, don't anticipate, because again, if I sat there and anticipated what was going to happen with tomorrow, again, this is 20 years ago, I would have got murdered. But the point is, again, we wait, we wait, and we wait. And the most crazy part about today's session was there was excellent value on the long side. Okay, it started out very, very good. It still did show speculation money was there, but it also showed you how fast it left. And if you saw the polls on the names, they were very, very strong in the morning, the Roku's of the world, right? I think that down $8 from the highs, the beyonds, the workhorses of the world, you know, stocks that had really, really strong moves today, what we're kind of in a very, very important place tomorrow. Okay, and I want to start out with the cues. We talked about it on the weekend update. There was a very definitive area that the bulls needed to defend. This is the 269 area. And if you look, this is exactly where the NASDAQ composite closed, or at least the cues closed, right? If you look at the diamonds, they're not there yet, right? They're not there at the day of reckoning yet, but they're getting there, right? You can see here, they're getting here slowly butchering to the 50 day moving average. If you look at the SPYs, right, the spies are kind of mirroring the Dow Jones industrial average. But since the NASDAQ composite led the way up, well, they're obviously leading the way down. And now we're at a crossroads. And this is, you know, this is tomorrow. I'm a hundred percent. And before I say this, I want to clarify this. From the value aspect, I'm a hundred percent sell bias for tomorrow, which basically means every single setup that I have for tomorrow is to the downside. It's logic. If you look at, if you go through charts tonight, again, show me one good looking chart that you would turn around and say, I must own it tomorrow, right? So we're just talking about from that point of view. But there is an area that if the market holds and starts to reclaim, the bulls and the whole bullish thesis could be intact. And I kind of want to go over that right now. So here's kind of what I want to see from tomorrow. If you look at individual charts, names like Amazon, for example, you can see here, they're right on the 50-day moving average. If you look at Facebook, they're right below rising support just needs to clear out this linear regression line. If you look at Netflix, they're just one day away from testing the support as well. You look at Tesla, for example, closed right on the 50-day moving average. So you're getting a lot of names that are mirroring the NASDAQ 100. They're a mirror. So here's preferential wise. If I had to pick how we're going to play out tomorrow, what I would love to see and if the market gods are listening would be nice. What I would love to see is a gap up in the futures. Because if we get a gap up in the futures, any stock that closed today on the 50-day moving average, again, Tesla, Amazon, Facebook, even names, for example, like Microsoft are below the 50-day moving average. Apple is getting very, very close to breaking that support. You could go through the names. There's obviously a lot of names. They're all in the NASDAQ 100. But in the perfect world, knowing this information that everything closed on support, if we can get a gap up tomorrow, it will be 100% self-biased, at least on that opening range, to confirm Friday's price action. Because if it does confirm Friday's price action, again, if you believe in the theory the stocks trade from supply to supply and demand to demand, then you can see any confirmation of the 50-day moving average on the Qs has a lot of room down. And you're going to see a lot of names. They're going to mirror and trade in tandem with the Qs. The problem lies, and it's not even a problem. It's more of a scenario part two type of scenario. If we gap down tomorrow, and we put in opening range lows, obviously those opening range lows need to be confirmed. The key is to the bulls tomorrow. And this is why I think it's kind of a two-sided play. And if you believe that the bull market thesis is still intact, if you believe that we didn't see the all-time highs and you believe that the market has to go back higher, well, if we gap down tomorrow and the bulls reclaim the 50-day moving average, you can definitely use the low of the day as your stop, which are Max Payne. And then you have all this potential back to the upside. So to say that tomorrow's session is going to be somewhat important for short-term sentiment, yeah, I think so. I definitely believe so. But the value definitely is to the downside based on strictly technical analysis confirming major rise in support. And if we do confirm that rise in support and fingers crossed that we get a gap up in the futures, then I think we'll have a very, very big aggressive value pull. Again, we think that's our opinion. Now we just need to see it happen. We need to see it confirm. Again, nobody's talking about we're going home short, 10-star short overnight. Again, we've seen how the market for the last two, two and a half years has completely brushed away any technical damage. Catch the bears, catch them again on the bottom channels and squeeze them right back to 52-week highs. Again, we have an opinion. Now we just need to see it play out. So today's session was actually pretty decent. I was actually very, very surprised, very surprised. And it was the most amazing part. It was pretty much to the upside. I would say 80% to the day was to the upside. And then obviously things started pulling at the end. But here's kind of like my tip and my tip, especially to the new traders, I don't want to use the word bear market. I think it's a very old school term. I think there's bull sentiment and bear sentiment. The one thing that works very, very well in a bear sentiment or a sell sentiment. Let's use that. If you guys remember going to March, and March was arguably one of more aggressive months to the downside, you can remember in a very, very long time. Excuse me. And what was working in March was any single time we would get these really big aggressive down, gap downs, 600 points, 700 points, 1,000 points, 90% of the stocks or 95% of the stocks will have a gap down approximately about 90, 95% of their average true range. So every stock trades with an average or true range. Some stocks like Amazon might trade with an average range of $80 a share. Some stocks might trade with a dollar a share, but 90, 95% of the time they're going to gap down their average true range. So what that does is it creates the value, even though the sentiment and the pressures to the sell side, it's going to create channels back to the upside. So when they confirm the channels back to the upside, the snapbacks are very aggressive. So what we were doing is from, away from March, and starting again doing that today, we saw a lot of great setups, really good setups back to the upside. And when they confirmed they had a lot of really good aggressive moves. So just think about this rationally. If a stock gaps down, you see 95% of its average true range. The sellers that are getting rid of their stock are retail. The people who are getting long the stock on these gap downs are value funds, hedge funds, mutual funds, index funds, and people who want to be long for five, 10, 15 years. So there's a lot of emotion, especially at the open. And that's why it creates pockets back to the upside. So when they confirm, there's usually aggressive buying. We'll talk about that in a second. So that's kind of like a survival guide. Now if you have positioned as a whole different store, if you come in short overnight, God bless. If you come in long overnight, really God bless. But this is kind of more from the intraday ranks. It's kind of a survival guide, how to take advantage of both sides of the market while there is very, very emotional levels heightened. So we gap down today and we started looking at channels. And the funny thing is, I think every single one of our pivots today backed with to the upside was literally every single one. And it wasn't like there was 15,000 pivots today. But the point was the ones that do confirm, they do very, very well. The ones that don't, obviously you stay away from. And if you look at today's session, was actually pretty good, right? Was pretty good. Caught some things. Peloton was really good. NKLA was really good. We actually caught the dip on Peloton on the rising 60 minute support. You're not going to see this on the pivot feed because I didn't put the pivot. I didn't feel like chasing into strength. So we bought it into that rising 60 minute support. But if you look at everything else, it was some pretty good action. So let's talk about it. This area right here, 326, 327 was potential bounce area. I actually revised that and I'll show you that in a second. COHN, it was a little too thin for me. So I didn't take this one. 22, 22 and a quarter needs to build. We talked about this one on the weekend update. This was a big move. And if you did take this tray, congratulations. This thing took out the 22, 22 and a quarter. It went to 25. I mean, crazy move. If you did catch a good job, it was just way too thin for me. This one never confirmed. COOP, I think it was a bank. $20 needs to build. Here was COOP. Right? So here's the $20 and COOP. Right up about 60 cents. Again, everything got pulled towards the end. Qs, again, this is the magic number here for tomorrow. CCL, I screwed up. I cheated on CCL. I only lost 20 cents on the trade. It wasn't the point of the money. I knew, I knew it had a clear out supply and I kind of preempt the trade again, which I basically say, don't, don't anticipate. Right? I saw a call buying coming in, some airlines, I saw some call buying coming in on shippers and yada, yada, yada. I knew I was going with the supply and I still did a lost 20 cents. Schmuck, but whatever, brain fart, it is what it is. Workhorse was definitely one of the shining stars of the day. $20 needs to build and Workhorse went nuts. I believe I covered this on the video. But Workhorse went nuts. So here was the $20. Not only did it take out the $20, it took out the $23 and went almost to $24. Major, major move on Workhorse. Major move on Roller Coaster. Huge move. Really, really big move there. So $3.30 was the 50 day. If you guys notice, it closed right at $3.30. Unfortunately, it just didn't get there throughout the day. Here's a perfect example of a stock that gapped down, right? And I joked around pre-market. I said, who raised your hand if you want to short Amazon down 150 points? Again, me either. So it set up a channel. $31.90 needs to build. There was some good call buying coming in. Take on the way up. Next supply is $32.16. So here was Amazon. Again, here's a perfect example. Here's a perfect example of a gap down, right? A gap down. It put in an initial channel. It confirmed this channel and it went literally from that $31.90 area all the way to $32.50. It had a $60 balance. So really, really good. And that's kind of my point that you don't need to short into the hole. You can wait for channels to set up and go right back up. So that was a really, really big move there as well. Peloton, I caught pretty decent. And I'm shocked how strong it was. So 85, four times it needs to build. Some big call buying came in on Peloton. So here is the 85, right? You can see 85 into the 60 minute supply, right? 85, 85, 85, 85. So I said it got rejected four times. If it can reclaim, it could explode. So it exploded. I mean, this thing really, really exploded. Peloton went almost to $91. Really nice trade. Really, really nice trade. Again, it rejected four times. You had a really, really clear line in the sand. So a really nice move there. And I said, look, I'm just very surprised at the early value today. Again, we just did not see that coming. But again, if you are patient and you trust your process, usually good things are going to happen. Zoom was having an issue. Zoom was having some early issues street wide today. I think a lot of people couldn't get rejected. Obviously, you never got the 370. CCL, this is where I screwed up. BIGC's 111 supply needs to reclaim trade at the 1092. Again, very, very specific numbers. That's why they're so important. There goes KONH. Towards the end of the day, Tesla 342 sneaky area. If it builds below, can see the lows and stock close right on the 50-day moving average. Here's the 342. Here's kind of where I'm just telling you about. Here's 342. Let me just make this a little bigger. My e-signal for some reason still hasn't made its way from the split. So here's the 342 right here and it closed right at the lows and it closed right on the 50-day moving average. Going into tomorrow, again, I really love to see a gap up tomorrow because again, there's just so much value to the downside. But please get to morning strategy. I'll definitely put remount areas both on stocks and indexes. We know exactly what we're in for. If we get a gap down, we'll start looking for channels on the way up. If we gap up, we're going to start obviously looking for channels on the way down. So guys, have a great night, everybody. God bless you all. Stay safe out there. And with God's help, I'll see you all again tomorrow. Take