 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. Welcome to another edition of theaxesandtrader.com, a nightly wrap-up show. Hope everybody is doing well. Hope everybody had a good trading day today. Morning, very aggressive. The afternoon, a lot of bids getting pulled. And the question is now, well, how far is the speculation capital game going to continue, or is this starting to get tired? We'll answer that in a second. If you are a brand new to the channel or an existing loyal viewer, guys, thank you very much. Once again, it means a lot to us. You sit there 15 minutes out of your day, kind of consume the nonsense that comes out of my mouth. Once in a while, I'll say something intelligent or probably not. But anyway, all we think we do is ask is if you just click a like button, all that good stuff, and everything else, we will take care of. So hopefully everybody is doing well. If you are interested in pivots, guys, I always get all these questions about pivots, this and that. All it takes is 30 days. Click the tires, see if it's a right fit for you. The link is below in the comments, and then everything else is going to be pretty much normal. I made a little bit of a conscious decision today. Being on social media, I've been on social media analysis like 2010. I tell you, every single time I take a day off of like, especially Twitter, it's like an elephant being removed from my brain. And today I took a mental break. There's just too much. There's just the same nonsense over and over and over again. It just consumes you mentally and wears you down. It even has nothing to do with you. So I made a conscious choice, and I think I'm going to start, and I did already start today. I'm going to start limiting my, I guess, my day. My activity on Twitter. I just don't think there's any reason for me to sit there throughout the day. Everybody knows where I am. Everybody kind of knows where I do. If you need me, guys, come join the webinar, all that good stuff. YouTube, obviously. But it also will be active, but I'm not going to be there on a day-to-day basis trying to throw ideas. I mean, we've been pretty much demonstrating because it's the last 14 years. I think it's a pretty good sample size. I know I've said this before, but it's just something refreshing. It's something refreshing not spending the day in the biggest septic tank on the history of the world. So that's that. So let's talk about the market, right? We talked about yesterday, the euphoric nature of the markets, all the asset classes continued yesterday to run up. You had the Bitcoin revolution going. You had stocks with IPOs. We talked about Reddit yesterday, especially. And today it was just one group that I forgot they even were in existence, and it was the pot group. Do you remember the pot stocks? I find this group very fascinating. And the reason why I find this fascinating is if you would have told me 10 years ago that weed is going to be legal in a lot of states, I would have said, man, if there is companies that could capitalize on weed, boy, those are the ones you want to invest in. No, no. This group literally wakes up once every two years. CGC had a nice pop today. TLRY did okay today. But the point is when you look at their weekly charts and you kind of see the monthly charts, yeah, this is the pot group, right? TLRY had that magical one week run. CGC had that magical one day. So my point is this is the drek of the drek. If you don't know what the word drek is in Yiddish, it's the word, well, this is called the word trash. I'm going to be PG today. This is the crap of the crap. So when you see the last move of the crap of the crap, you start to say, well, is this now the last scenario of the chicken without a head kind of scenario? Well, it's a little too early, but we do try to get clues. Again, we're not trying to predict future prices. We're just trying to predict. We're trying to figure out what happens next day. That's it. Not next week, not the following month next week. And we start looking at clues. So the Dow Jones Industrial Average now is down three days in a row. Nothing big, right? Nothing big. I don't believe there's a cause for worry yet. The diamonds have gone from, you know, 399 to about 392 and kind of just teetering on yesterday's low, right? It's a pretty important note. Not that the overall spectrum of what's going on, but kind of a short term basis. For example, if the Dow starts losing tomorrow, if it starts losing yesterday's channel, then we're going to go lower, right? If you look at the SPY, the SPY has been on a great, great run. And for the last now four days in a row, the SPYs are down now four days in a row. If they start losing today's channel tomorrow, we're going to go lower. And if you look at QQQ, okay, they're kind of doing the same thing. So here's my point, okay? Obviously, we don't go bearish until we lose the 50-day moving average, right? That's the most basic thing in technical analysis. I talk about it all the time. Above the 50-day is bullish. Below the 50-day is bearish. You can see the light blue line, right? The whole light blue line, that's the 50-day moving average. Well, way above it, right? Well above it. So there's nothing imminent in the cards of saying, well, this is it. That was the top. We're going to go lower. We're going to go higher. We're going to go this. We're going to do that. We don't know, right? We don't know. What I do know, any close below the 50-day, then yeah, you can rip out your buy button because you're not going to buy a damn thing except for covering your shorts. But we don't wear near that, right? And like I said a couple of minutes ago, our goal is not to figure out if we're going to get below the 50-day moving average one day. Our goal is to figure out what happens tomorrow. And that's kind of when we start the little spiel today, right? Yesterday's low guys and write this down. Yesterday's low was this 442.50 level, right? That's the low on the Qs. Today's low was 443, okay? So even though we didn't take out yesterday's channel, we had a lot of stocks get rejected on their previous day's highs. I'll give you guys a couple of examples in a second. So the key line for tomorrow potential weakness and potential some of the high fliers to get pulled even more is this 442.50 level on the Qs. If we start losing this 442 level on the Qs, do I think we go down to the 50-day moving average and this is Armageddon the world is over? No, I just think there's a tradeable move down. That's it. There's a tradeable move down maybe down to this 40-41 level strictly for the point of reference. If you are looking at shorts and I'll give you guys some ideas for tomorrow, you can have an idea that if the Qs get pulled that that stock will probably get pulled as well. So let me give you a couple of examples why the previous day's low is important, right? And there's a very basic adage that has nothing to do with the PS60 theory is just basic technical analysis. If a stock does not take out the previous day's high, there's a chance it will go lower. That's the most important part, right? If the stock doesn't take out the previous day's low, there's a chance it goes higher. So here's a perfect example. Let's start off with meta, right? So meta was actually pretty strong the whole day today, right? Pretty strong the whole day, but it couldn't take out the previous channel's high. We saw that a number of times today in the webinar, 510 got rejected several times. We'll get to the pivots in a second and we'll see the significance of it, right? So it couldn't take out 510, right? It couldn't take out 510. It went lower. So when it took out the previous day's low, right? If the flip side of a stock can't go higher unless it takes out the previous day high, well, the flip side of that is the stock will go lower if it takes out the previous day's low, and that's exactly what meta did. If you look at Microsoft, it kind of did the same thing, right? It didn't take out the yesterday's high and now it's about to really test yesterday's low. And here's another example for tomorrow, right? If the queues start losing the channel from yesterday and Microsoft starts losing the 10-day moving average, this thing's going to get hit. And this is kind of what you want to see. Even the darling of old darlings of Nvidia, right? Nvidia today couldn't take out the previous day's high, right? And that's the whole point. A stock cannot go higher until it takes out the previous day's high, but it took out the previous day's low and closed right at the 5-day moving average. So even though we're seeing tons, even today, tons of 960, 980, $1,000 coal buyers with only a couple of days left to expiration, it doesn't mean it has to get there. And that's the most important part. Guys, remember, these are human beings betting. These are human beings that have follow. These are human beings that are, you know, human flesh and blood, and they bleed and they sneeze and they get sick just like us and they laugh and they cry. They're human beings. So it doesn't need to go higher. Will it? We don't know. Obviously we don't know. But that's kind of my point. It didn't take out the previous day's high and went lower. And once it took out the previous day's low, it went lower. So the stock closed right at the 5-day moving average. Now here's the question for tomorrow. What happens if the cues take out yesterday's range? And what happens if the video loses the 5-day moving average? Yeah, it's going to go lower. That's the whole point. It's going to go lower. So you have to be, you know, this is where you take off the rose-colored glasses and you say to yourself, well, here's the golden rule. If a stock takes out the previous day's low, it's probably going to go lower. If a stock takes out the previous day's high, well, it's probably going to go higher. Considering we didn't take out the previous day's highs on so many stocks and now we're in the crosshairs of potentially taking out either yesterday's channels or today's channels tomorrow, this is where you have to be prepared on both sides of the market. Again, I've been saying this for years. We've been watching this channel for years. I'm not a bull. I'm not a bear. I'm not trying to figure out if the video is going to be at a thousand tomorrow the next day. I'm trying to win my interval. I'm trying to see the data that I'm taking in on the close and if the stock takes out the previous day's low, well, I'm going to be about it. I'm going to be absolutely about it because that's the whole point of trading. We're trying to trade day-to-day and put ourselves in a position of strength and not fear, not in your window, not guessing and not compromising our money because we're trying to will and want our position to go one way or another. That's the whole point of trading. We Google the word day trader. Google the word trader. That's exactly what we do. Traders have an unbiased approach. We trade both sides of the market and whatever side confirms, well, that's the side we want to trade on. It's not falling in love with the stock. It's falling in love with technical analysis. That's exactly what you want to do if you are an active, especially intraday trader. If you go into tomorrow's session, let me give you guys some names to watch on both sides of the market and that's the name of the game because, again, we don't know which side is going to confirm. I'm going to give you guys some ideas here. Apple continues to be a broken stock. Again, it might not confirm the lows from March, but I am watching those lows. I'm definitely, definitely watching those lows and if it starts losing, it will get hit. Microsoft not as exaggerated as Apple, but back to back days, it held its 10-day moving average. Now, what happens if Microsoft loses its 10-day moving average? Well, then we got about $6, $7 of downside action. Again, that's a name I definitely want to watch. Look at Arm. Arm had a nasty reversal today. Really, really nasty reversal. Engulfed one, two, three, almost four days of action. Watch the bottom channel of Arm tomorrow. If it starts confirming today's channel tomorrow, well, why can't we get a day two reversal? So there's a lot of names that if you go through, especially the NASDAQ 100, where it's my kind of specialty, there's a lot of charts that look exactly like that. If they start losing the previous day's channel, yeah, they're going to go to the next support and that's the whole point of the PS60 theory. Stocks trade from supply to supply on the way up and they trade from demand to demand on the way up to the upside, to the downside. To the upside, watch Guess. Again, not an amazing name, but watch Guess. It looks like I had a great quarter, came in four days, touched the five-day moving average. And again, it has to take out yesterday's channel. If it starts building above yesterday's channel, maybe this thing wakes up and starts going higher. Door dash looks interesting. You got a nice flag here. This is, again, the highest close in this whole formation. If it could get above this bull in Japan, maybe this thing wakes up. So keep an eye on that. And what interesting name is this hurts? There's no entry right now. And the reason why I say that is because the stock out rejected off the 50-day moving average. You're seeing a little bit of expansion volume, but we did see on the option side, we did see some repeat buyers coming in for the June $10 calls. The key hurts is it needs to get back above the 50-day moving average. Any close above this, like, 8, 10 level will get the stock going. Because again, if you look at the last time, it got above the 50-day moving average if you follow this blue line, right? It got back above the 50-day moving average. It went from 9.57 all the way to almost 11. It got rejected off the 50-day moving average. So if it gets back above the 50-day moving average tomorrow and closes there, you could start a cycle all the way up to like 8.60, even $9 per share. Other than that, you know, I am definitely, definitely watching everything. And also remember, guys, you don't need to trade every day, okay? Especially if you're on the option side. And the options market, again, I'm an equity guy. I am probably the worst option trader in the history of the world and it's just not my thing, baby. It's not my bag. Awesome powers, right? But what is my bag is I do understand the notion that stocks need expansion, right? So if you're an option trader and you need an expansion there, you can't trade tight channels because as soon as you put on trade, if you're buying premium, all that happens. Your premium goes to hell in a bandbasket. And that's the point. So if you're an options trader, you need that big move, right? So for people, for example, on NVIDIA, right? They've been betting all week, all week. $980 calls, $1,000 calls. They're betting on anticipation until it gets above the reversal channel on March the 8th. How could it go to $1,000 if it can't take out the March 8th highs? And that's the point. Bet with confirmation. Don't bet on anticipation. If you bet on anticipation, your premium will go lower and that's a very, very important thing. So let's quickly go to today's pivots. Again, great action this morning. Really great action this morning and the market has completely died out in the afternoon. NET 97 rejected twice. Needs to build. Here is NET. Took out the 97. Went all the way up to $100 and changed. Some $100 call buying we saw in the name. Reddit. I traded Reddit today. I was shocked as anybody. But nice move on Reddit today. $69.50 Needs to build. We talked about Reddit last night on the video. RDDT. So here is a $69.50. Right here is a $69.50. That was after hours highs. And this thing went all the way up to $75. Beautiful move. I mean, really, really nice move on Reddit. NVIDIA obviously didn't confirm. Hood went up like $0.20. Didn't do anything. CLSLK. Let me see if it did anything. I don't think so. CLSK. Now, now, never got up to this. Never got above the $24.20. Microsoft never got up there. Meta, again, $5.10 Needs to build. Got rejected twice there. Here are some crazy moves. Here are some pretty good moves here. VKTX. $84.00 Rejected twice Needs to build. Here was VKTX. Here's a 60-minute view. Got rejected here. The 60-minute pre-market view. Got rejected $84.00 once, $84.00 twice. The second time, it got through $84.00 and went all the way up to $89.00. Great, great move. Congratulations for what you guys have caught that. And VRT. We started seeing June 100 calls come in. $84.75 Rejected twice Needs to build. I'm sorry, not hundreds. June 105 calls came in. And here was VRT. Here is VRT. So it took out this whole channel here. $84.75 went all the way up to $86.00. Almost a $2.00 move there as well. And I believe that is it. We also had a couple of bounces here and there. All in all, pretty efficient day. Again, tomorrow, guys, let's see if the bulls can come back swinging. If not, again, guys, watch the previous day's lows. If they start taking out the previous day's lows, we will get an opportunity for some downside channels. Guys, have a great night, everybody. God bless, and I will see you on the field tomorrow. Take care.