 Again, look at the distribution. Look how tight is everything. Guys, when you have a distribution this tight, sellers are comfortable, right? The longer a market goes sideways near all-time highs, it's telling you there is no selling pressure. 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, meeting everybody. Welcome to another edition of the Access to Trader.com. Weekend Update Show. Hope everybody is doing well. Hope everybody had a great weekend. Remember, guys, and gals, and everybody else in between, eight days away from Father's Day, right? I know where they have the thoughts. I know where the crap on's, but guys, as dads, and I think I could speak for all the dads out there, eight days away, don't neglect this, right? We're, you know, we're kind of important also. So for all you guys who are out there or great dads, eight days away from the big day, and by the way, we're all gonna get forgotten on Parasoxes and all of our futures, and maybe, just maybe, we'll get a big piece of the chicken. Thanks, Chris Roch. Other than that, guys, let's talk about the markets. Look, the cues have been consolidating incredibly well from last week. The biggest discussion for the last week or so has been the mean stops, the really crazy random names that have big short interest have been dead for 99% of their tenure. They woke up this week. They woke up last week, and that was kind of like, you know, that was kind of like the drug of choice. You know, people chasing, people buying, people holding all over the place. But the big thing for me, and I think a lot of you guys who watch this channel as well, has been kind of like what the market in terms of the NASDAQ 100, in terms of the big mega cap technology names, what they didn't do for a long period of time. So we got the part when they went down, right? We would sell by us for three weeks, and then they finally confirmed the 50-day moving average, or I say we, we mean the cues, and the market kind of started building off the 50-day moving average. And the one thing that we did notice after the consolidation, none of these big technology names were participating. They just were kind of dead money, and we were just sitting there just like for about a week or so and say, well, what's gonna happen? You know, like literally what is gonna take these stocks to finally, you know, wake up? And usually what happens is, it's the indexes that confirm first, right? And then they start pulling everything up. And if you remember last week, the only one that was really doing a great job, and again, this stock has been an absolute monster, has been the video, right? This was the first stock that reclaimed the 50-day moving average. And since then, since that PR of them having with 401 stocks, but it's been an absolute monster tear and their stock split, I believe, is on June the 21st or about nine days from now. So this has been really carrying the market because if you look at other names in the same group like in Intel, right? It's still done absolutely nothing going sideways for the last two weeks while the video has been going absolute nuts. A stock, for example, like Maxim, right? Has been kind of basing out for the last month as the video has been going nuts. So you've had one stock really taking control of the action. And the question was, well, when are these stocks? What is the traditional beta names finally gonna wake up? Your Amazons of the world, the Zooms of the world, the Tussles of the world, the Apples of the world, and slowly but surely what we saw this week versus what we saw the previous two weeks as the market started building above supply and started putting in a new floor, we finally got a pulse. We finally got these stocks to start waking up or either getting really close to now into confirmation and at least going into next week, we're pretty damn bullish on the whole group. And eventually you have to assume, again, I'm not saying one thing or another about these random stocks to go from like two to 75 in like 30 minutes. I have nothing against them. If you're trading these things, God bless. But in my world, it's kind of important that these stocks kind of wake up. And this is the first time we saw things moving and we saw Amazon finally break out off the 50-day moving average. Had a big, big move on Thursday. What a beautiful move. It was up $60 on Thursday, down a couple of bucks on Friday, which is basically a great rest area. And if you guys remember from Thursday night's video, I said, look, it's either going to be a buy back on strength or a buy into the rising 60-minute support. And this is what I mean about the rising 60-minute support, right? And great job for you guys caught the bounce on this thing. If you look, this is the whole thing here is the rise of 60-minute support. So when it came back down, a little bit of profit taking into this rising support, again, eager shorts got trapped and they slowly walked them back up. So Amazon looks incredibly good going into this week. Zoom, right? Zoom was going sideways for months and months and months. They came out with earnings. There's a whole big debate they talked about. Well, you know, is the growth gone? Is the growth story out of it? Is it going to be just an afterthought like anything else? And is it going to eventually just kind of fade away into obscurity, regardless of how many people, including myself, who use the product? And I think it's great. And Zoom did a great job this week. Not only did it hold the rising daily, it finally reclaimed this whole supply zone and reclaimed a 50-day moving average. The first time, literally, since January 1st, since March the 1st, so really, really bullish sign there. Doc, you had great earnings this week, right? Amazing earnings, had a big, big run. First close, again, over supply zone as well. You have a name, for example, like ZS that we've been talking into nausea for about three weeks. Finally broke out, right? Finally broke out over that $200 level. Nice close there above that $207 level. Looks like kind of a magnet to 211-218. Now is every one of these stocks completely out of the woods? No, not yet. But slowly but surely we're starting to get setups. And again, they might not trigger this week, right? They might not confirm, but at least they're on deck, right? Even though Apple is still underneath all this major supply here, at least you see if there's a continuation of strength and technology this week, all it has to do is get above the supply zone here. And it's going to start its next move up. Square, right? Had a really, really great start of the year. Had a really great end to 2020. Again, is it imminent? I don't think it's imminent, but at least you can see here, right? The top of the channel is right in sides. And if they could start confirming the top of the channel, it could be good as well. Peloton, right? A name that really benefited from the whole stay at home movement, including myself. I've used it five times in five years. That's right. Great product. Hurts my tush. Great product, right? So you could see it very, very close as well. You could see the whole top of the channel here getting very, very close. And again, just like Apple and just like Square and a lot of other names that have been really tracked down for months and months and months and had absolutely no signs of life, maybe this thing is a day away, two days, three days away. Finally start reclaiming all the supply and moving high. And names like Neo that had a big run are now continuing its bigger run, right? They finally first closed over the 50-day moving average. Again, we saw a lot of call buying coming into Neo towards the latter part of the week. We saw the 45s, the 50s, even so the 55s, all short-term expiration. So very, very bullish sign there. The name that everybody wants to finally wake up one way or another is obviously Tesla. And obviously, if you've been watching this broadcast, it's kind of my favorite stock. I don't care which way, trades, long, short. But what I do need, right, and more than anything else, is for this thing to pick a damn direction. Now, if you look at the options market for the last two weeks or so, you're really not gonna get a good sign of which way the money, the institutional money flow is betting. We saw some 650 calls, we saw some 700 new term calls, but we also saw some 550, some 525, some 575 puts on both sides, right? On both sides of bullish and the bearish case, but right now it's sitting on this really, really tight flag. So if you kind of draw this imaginary trend line, it really needs to put in some work. Again, nowhere close to be out of the woods macro to the upside, but at least if you draw a trend line here, you can see this top of the channel here would be a really good catalyst on the way up. Again, there's a flip side to that. Just because it's been trading so tight and you can turn around and say, well, it's been kind of making lower highs now since all the way back to January, February, March, April 14th, you're not wrong either, right? But the point is a lot of times when you're thinking, you're assuming a stock is gonna go in that one direction, it kind of reverses course. So you can't be overzealous and overly opinionated and say, well, it's definitely going lower. Well, based on what, right? It hasn't gone lower yet, it hasn't gone higher yet. So we need to wait for confirmation of this thing. But I will say, at least we have the top of the channel here ready to go, right? We have the bottom channel here, really, really tight channel here for the last four or five days ready to go. Something's gonna give on this damn thing. That's for sure. Something's gonna give on Tesla going into this week. And again, it's very, very easy to say, well, it's either gonna go higher or lower. Yeah, yeah, you don't get this hard hitting technical analysis and nowhere else. Of course it's either gonna go higher or lower. But we do have a definitive level here on the bottom. We do have a definitive level here on the top. And eventually with patience and calmness, with no bias, we're gonna let this thing confirm one way or another and have a pretty good potential measured move. So we're set up, right? We're definitely set up. Even names like Plantear, right? Even a name like this, which again, it's not a really a big favorite of mine or point of interest. You can see how tight it's getting towards the top of the channel, right? You can just see it. So you have a lot of names like that. Intel, same thing with the semiconductor space. Look how long this distribution is. This is a distribution that's going back all the way in the beginning of the year. Something has to get with these stocks. So the more important part is we know the market continues to build, cues are acting very, very well. A stone throws away from all time highs. You look at the Russell, right? Russell has been acting incredibly well, going all the way back to 2020. You have the spies, took a little bit of a breather this week, but look again, look at the distribution. Look how tight is everything. Guys, when you have a distribution this tight, sellers are comfortable, right? The longer a market goes sideways near all time highs, it's telling you there is no selling pressure. There is no, I need to be out of my positions. I need to liquidate. There's fear. There's this, there's that. There's none of that, right? And that's where the bias, at least my opinion to my bias, is going into this week. We're going sideways in a lot of major indexes. The technology group that's represented by the NASDAQ 100 is starting to pull up a lot of names that we trade. If everything goes well this week, Amazon just had a res date, everything goes well this week and the market continues its strength. Amazon could see 3440, 3460 in this channel. The video has more upside, right? It was a really good pivot on Friday. We'll get to the pivots in a second. It looks like before the split, if the market continues to be good, why can't it get to 73740? We saw monster nonstop June the 25th expiration, excuse me, June 18 and June 25th expiration of the 750 calls. Why not, right? The market is incredibly, incredibly strong. Look at a stock like Lululemon, right? Ready to bust out, looks great. Look at Dock U, right? Big, big run, first close over supply, looks great, zoom, huge call buying going on, right? First close over the 50 day moving average that were coming for the next two weeks of expiration, the 395 calls. They forgot about the 370s and 375s. They go in straight the 395 calls and you can see where your measure potential is on your first move all the way up to 386 level and look at a stock like team. I didn't even, first of all, full disclosure. I had no idea the stock was even in the Nizer 100, let alone I think I ever traded. But look at this channel here, guys. Look how deep and long this channel is. Remember, the longer the distribution, the bigger the move potentially could be. So we are set up this, we are definitely, definitely set up for this week. Even the damn meme stocks, they don't even go down, right? Even AMC that looked like it was about to fall off a planet, reverse course. Even GameStop that had earnings that weren't great. They did some sort of at the money offering, blah, blah, blah, they couldn't even kill this thing. What's the big deal, going down 25 points after the stock went from 50 to 350, right? Not really a big deal. So the market is very strong. The internal strength and breadth are very, very strong. So unless something materialistically happens over the weekend or in the beginning of the week, you have to be bullish until technical reasons tell you not to be. So very, very important there. So let's talk about Friday's action. And this is where finally the bulls, the technology bulls woke up and turned out to be pretty good. One disappointing trade deal, I'll get to that in a second. Obviously Dell, I've literally said Dell 105 for the last three weeks, okay? Maybe Monday, maybe Sunday. Sunday is always a good trading day. Amazon, right? Amazon 3300 broke out, rested yesterday, needed to reclaim that 3361, but more important, all dips into rising 60 minute supports are valid. And this was the dip in the rising 60 minute support for the day, hit it right here perfectly and bounce about $12 off the low. Again, I still like it for this week, obviously. NVIDIA was great. I'm starting to really, really love NVIDIA. It's by far my second favorite stock. Tesla's my favorite to trade. Caught NVIDIA pretty well. 705 will be a big area rejected there several times. Here is NVIDIA. It took out the whole range of 705 and went as high as to 714 and change. Beautiful move there on the NVIDIA. Tesla, I'm still waiting for Roku. Not a big move at all. 351 needs to build. This one didn't put out a big move. Only went up about $2 and then kind of reverse course. A lot of names reverse course, but a little disappointing in Roku, but all in all, the stock is still above its range, building above the 50-day moving average. Let me see what else we'll do. Zoom was a monster, absolute monster. 351 needs to build on Zoom. Here was Zoom, took out the 351, put up a $17 channel. Huge move around. Absolutely huge move. I still like it for this week. Can it rest on Monday? Very possibly. CGN, again, smaller name, didn't follow through. 850 big, big level rejected there three times, didn't follow through at all. Again, these smaller names are completely different than beta. It took out 50, only went up 12 cents and completely died on a vine. So CGN did absolutely nothing. Adobe big move. We talked about Adobe on the Thursday night's video. Again, same thing as Amazon, either a rising dip buy or above 537. Here was Adobe, still looks higher. Really good looking chart. So it took out the 537, went to 542, still looks higher, especially at the market. Continued higher. As Gen never got up to the 159, 160 level. Google broke out. It went up about nine, 10 bucks and then it came all the way back in. So Google took out this 34, 31 area, went up about 10 and came back into its breakout price. That's the bad news. The good news is this is the highest close in its whole formation. So hopefully this thing kind of starts reclaiming Friday session and moves higher on Google. PTIX never got to 420, traded to 419. Beautiful, just a beautiful move in NVIDIA. Zoom take on the way up, Roku take on the way up. This is the one that really pissed me off. This M&MD, I talked about this on Monday or Tuesday. We've been seeing this thing, $5 call buyers, short-term expiration, the June 18 and 25 expiration for two weeks. I'm talking non-stop, one after another after another. So I got along this thing. I added a little bit more. I was in a little bit less than half size, non-stop. You would have thought this thing would have exploded. It spent 99% of the day underneath supply for the day. I sold it, lost about 16 cents on it. And not the end of the world, it was not acting well. The good news is, this is the highest close in this whole formation. So if it could reclaim Friday's highs, 404, 405, I know some of you guys are still longing this thing. Who knows, maybe you get a PR over the weekend, something, but there were definitely huge sellers there. Just wouldn't not let it go and moral of the story is again, no matter how good a chart looks, no matter how great the sentiment looks, no matter how many call buyers are in, if there's a real seller in the crowd, they're just liquidating, liquidating for whatever reason, they're gonna win that session, not you. But again, hope springs eternal for you guys who are still longing. Again, the good news is, this is the highest close in this whole formation and maybe, who knows, maybe you get lucky with some sort of news coming over the weekend. So that's that there. So Zoom, Monsters, Zoom, Monsters and the video, Absolute Monsters continues to stay strong and that is it. So that's it guys. Wishing everybody an amazing, amazing weekend. I think this video should go out probably around Saturday evening, at worst case, Sunday morning. But anyway, folks, continue the grind, continue the journey, believe in yourself. Don't ever let anybody put their negative energy that they can't do something on you, right? They're projecting on you. You can do it, okay? Everybody starts out the same way. Everybody has the same playing field, the charts are your friend, technical analysis is your guide and your opinion is the only opinion that counts. Guys, God bless, have a great weekend and I'll see you all Monday.