 Right we're in the business of staying in business and the most important part is to let the stocks find you let the names 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 giving everybody welcome to another edition of the access a trader comm nightly wrap up show Everybody's doing well. I got a basketball game To get to my daughter is a basketball game. I have to literally leave him about 15 minutes I'm gonna try to just echo my thoughts really really quickly and kind of get a setup for for the next day If you guys remember two weeks ago, let's do me last week first two days of the week We're very very slow because channels contracted. We talked about this in the last night's video It was very very important yada yada yada yada for the candles to expand channels to expand We had this really really aggressive rally In especially the technology names Wednesday Thursday and Friday. So fast forward to Monday Monday We had some weakness right that was yesterday. We had some weakness. We had some Afghan news We had some China news with some more Delta variant news And the one thing that bulls did very very well yesterday was they came down to this 64 level right 364 level they defended it and not only did they defend it after two hours of kind of Battle a battle at the 364 level we closed at the highs of the day And you look at all the names that close at the highs of the day with it You had Amazon if you guys remember yesterday put in this ridiculous hammer one of the most bullish things you could possibly see Apple broke out right Facebook was in the verge of really really breaking out yet Google Ready to take out the 52 week highs. So we were ready. We was set up We had a very very Bullish close the one thing we kind of revert to yesterday's action We talked about this we talked about this last night Was this going to be an indication how things gonna play out today? It never is an indication but at least it gives you some sort of clues some sort of Guidelines what's about to happen and usually when I'm when I have a long bias, right like I did for today When you when I have on my watch list a Facebook Apple Amazon Google It's usually very very bullish. Okay incredibly bullish and the one thing that we always warn It's a very very important point is when there is materialistic news Remember, we have not had materialistic news To hit the mark in a very very long time the last one was Delta But we've been kind of gradually pushing it to the side because we were kind of we kind of know what's happening here with this new world and The one thing that we don't like and especially when we say we is the whole trader community is Uncertainty we showed that yesterday With the news with Afghanistan so forth and so on and then we I open up the computer today I look and I go well how the future is down X amount, you know, they're down pretty aggressively and I said hey look That's uncertainty but on any gap down and we always talk about this on any gap down In a bullish scenario because yesterday was a definitely bullish scenario that the bulls held Obviously the values to the upside and again, there was definitely value today The natural pivots weren't An abundance how I pictured but there was definitely we talked about We talked about a buying the dip yesterday on the video on a 60 minute bounce on Facebook on Apple Actually Apple actually got right the green so there was a lot of value in the bounces today Okay, even on Tesla initially off that 361 area, but there wasn't a lot of natural pivots There was a couple towards the end of the day. There was a Tesla pivotal of 660 to close pretty well And those do CS that I caught a piece of early in the day But there wasn't that one of that one of those days that Everything is moving because everything was organic everything was choppy because everything was uncertain That's kind of what we are today, and that's kind of where we want to start this Update if you look at the cues today what they did was yesterday They went below that 64 level recovered went higher today They took down the 364 level took down yesterday's load and you say to yourself, that's it You know, this is it right this you know, how many times can they test this level? There is no fresh materialistic news. We should kind of gunked on my head We should probably sell off into the clothes and establish a lot of short setups for tomorrow's session Yada yada yada not so fast the cues reclaimed that level and explode two dollars into the clothes And in the meantime before you turn around say well, that's super bullish. Yeah, remember yesterday's clothes was super bullish Also, and I'm still waiting for Amazon right Amazon Facebook and everything else to confirm So before we talk about bullish, we have to talk about reality and the reality is when you look at a lot of charts Both long and short. We're in no man's land right now We are as sloppy as my mother-in-law in an all-day buffet, right? All you can eat buffet. That's kind of where we are. That's kind of reality So from last week the Monday and Tuesday We just had a wait before just because the distribution is usually four to five days long and channels We're going to expand they expanded on Wednesday. We're kind of facing a different scenario We're facing a scenario that we have macro news in front of us That are the market is still digesting and as great as the bulls continue to you know Defend that three sixty four level on the queues the problem is now the shorts look like crap The longs look like crap and now we're sitting in no man's land And I and I said this when I say this all the time yet Look, is there some ideas that I like for tomorrow's shirt, right? Look at PayPal, right? Look at PayPal. It's held this double bottom here twice. I'm watching this thing to the downside I'm watching this you know beyond it's defended this level in the bottom channel here three times as well Right, you know, they look good zoom had you know There was a really aggressive pivot a couple of days ago off this 352 looks like another channel is forming to the downside Yeah, there's definitely some names. I like to the upside as well Maybe like an Etsy, right? Maybe like an Etsy that looks pretty good. We talked about Etsy a couple times Mouthing this area here. It looks really strong You look at the name like be II be that we covered last night on the video, right? Last night a video off this 348 that closed pretty much the highs needs one more day to break this macro cycle But for all those few names that look good, we're in no man's land guys We really are and this is where you know, we kind of reiterate the point that technically yes It that cues did their job. Everything looks great We don't trade based on the closing price of the index is we're trading based on value And when you look at charts and I really really hope especially if you're new traders if you're looking to develop, right? And again, I don't care if you don't know what a chart looks like the more muscle memory the more times you look at charts Something's gonna click even if you don't have any formal training. So that's that So if you're doing your research tonight, you're going to see the same things that I yes Is there gonna be some areas that we could take advantage of tomorrow? There always is like today, for example Majority of the day was on bounces right on bounces into rising sport like we mentioned Apple Facebook Even Tesla right there were names that you could definitely take advantage of But for for the more Technical parts of the market they were looking for clean breaks either to the upside to the downside There's not enough fear yet to close the cues below the 364 yet And there's obviously no aggression to take the market higher because a lot of these charts look like death look like absolutely death And they're all in the middle of their ranges. Listen, is it possible to get a dead cat bounds day tomorrow? There are some names that are holding up fairly well as well I mean Netflix for whatever reason right is was was up on the day God knows it still needs a little bit of work Actually still needs a lot of work to get out of this channel But but again there the market is sending us make signals this is where you put on your big boy your big girl pants and Establish yourself as an adult as much as we we love clicking the mouse and again when I say we I mean You right I look for Those days that honeymoon stage of is the market open is far gone. I'm on year 22 not 22 months So that's all gone. So we're looking for really good value every single day And this is where you really really have to understand that a lot of the days are going to be really good Right really good whether the market is up down or indifferent as long as it's channeling, right? As long as it's channeling very organic, you're going to be fine when you're in a spin cycle, right? Like I like sushi love sushi. I love peanut butter, right? I wouldn't put peanut butter on sushi. Maybe it's good. Maybe it's not but this is what all it is We're getting a whole bunch of stuff throwing it in the blender and now you have to drink it guys Do not prostitute your money. We've been saying this for years But this is where you really make your bones remember the foundation the long game think of the long game again You're gonna get some opportunities tomorrow, but it's not gonna be an opportunities for a measure potential move of $10-11 I give you my word. Can you trade channels tomorrow? Can you get some balances tomorrow? Absolutely, there's always will be something but this is when you have to switch gears You hear me talking about Switching gears all the time you there's a time to get super duper aggressive Because the channels are so clean the measure potential is so obvious and then there's times that again You're getting sardines, right? You're getting sardines You're getting Swiss cheese and you're getting dirty socks in a blender and now you have to drink it. No thanks, right? I'm not in the business for prostituting my money I'm not in the business because I have to trade because I love it so much Right. We're in the business of staying in business and the most important part is to let the stocks find you Let the names to find you again Are there stocks that are moving up three four hundred percent some stock of the letter v Apparently went up like four hundred percent today. Yeah, that's not those, you know, that's not the river I swim with I don't care about those names. Okay, I care about technology. I care about beta I so I look at things that are organically coming in cycles and for the 1% that something could be up 400% again God bless. That's not for me. It's you know, I have the you know, I don't have formal Okay, I have Joe the joy of missing out. So right now we have to assess the situation I have some long ideas for tomorrow. I have some short ideas for tomorrow again Maybe this isn't me one of those times that we are pleasantly surprised But when you look at the indexes and again, it all started with the IWM that they could not reflect Excuse me not reclaim that 225 area You had the spies that were going linear for a very very long time came back into support and again The Bulls did a great great job But in the process of doing a great job and let it let a lot of setups or a lot of names Be an absolutely no man's land, right? You look at Andy There was one of the biggest movers for the last several weeks. It's a no man's land You look at Amazon drifting and I and I really loved Amazon going to today's session Reclaiming the five-day moving average and it gave back half of its bar that it had the most bullish close That I saw in Amazon for a very very long time off of rising support So the middle fingers in the air, right? You have Facebook not here nor there you have Apple continuing to build Over the 150 area which is super duper bullish And if we do have an area of the market that continues to be strong based on today's kind of hold right hold in the pen Then maybe let's watch Apple on opening ranges back to the channel or continue to look at Apple on rising support dips But again from the point of from the point of value It's very minimal and again Our job is to make sure that we're looking at the market that we have and not the market that we want again Your job is to stay in business if you're a new trader. This is great. This is fantastic Doesn't seem like it's great doesn't seem like it's fantastic But this is the greatest thing they could possibly have for development again Anybody could trade a bull market very few can trade a bear market But if you've been trading for a long time for us, it really doesn't make a difference Everybody loves a bull market now preferable market again Everybody's better looking in the bull market food tastes better. Everybody's happier But it doesn't make a difference, you know if the market starts to contract and we start to having technical damage Like we did a few weeks ago if you guys remember a few weeks ago We had this rolling top and then we really had you know Seven days of really good down to the outside, but pick a direction for God's sake Okay, these days of defending levels and rallying into the clothes does absolutely no favors for everybody You know, I would have loved I would have loved that this juncture for us to close below 364 We would have a ton of setups for tomorrow, but again, like I said before it's not the market that we want It's the market we have so we have to do our best again life gives you lemons You make lemonade guys. God bless. I got a run to this basketball game. Stay patient Right. You don't need to trade every single day. Stay patient. Stay calm. There's no stress. There's no rush Think of the long games guys. God bless. I'll see you tomorrow