 But for the market, for technology to kind of stabilize, for technology to start getting aggressive today, whether it's an inventory portfolio approach, whatever you want to call it, they really need to reclaim it. 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, getting here, everybody. Welcome to another edition of the AccessaTrader.com Nightly Wrap-Up Show, everybody is doing well. So where do we begin, right? So after yesterday, we got rejected at the same area off the five-day moving average and we closed down 400 on the NASDAQ, right? There's absolutely destruction into the NASDAQ, Max Payne, everybody's throwing up the hands, this market's the worst, this market's going to hell, obviously the most natural thing happened today. We had the biggest rally we had in a very, very long time in the NASDAQ composite. Now why was this day different from the day that we had about a week and a half ago? If you guys remember, there was a hole, right? A really decent hole here off this 311 level and then we had a nice two-day run back into supply. The difference between that day, if you guys remember, the NASDAQ was up about 300 or so, but the difference between that day and what we saw today, there was absolutely no value two weeks ago. Stocks were hardly making any moves. There was absolutely no aggression. There was no order flow. There was no option flow. There was nothing to speak of that would give you any warmth that this market was actually going to recover. When you woke up this morning, and obviously you have the chuckle, when you woke up this morning and you saw a pretty big scoreboard, the Dow Jones was up at one point about 150. That wasn't the story. The Dow has been the catalyst for a very long time, but when you woke up this morning, you saw the NASDAQ up 200 points and when you started looking kind of digging deeper, you saw a little bit of a pullback in interest rates, so obviously that was good for the financials as it was ticking up for week-to-week after week, and that was obviously not good for technology names, but today was a little bit different. You felt a different this morning pre-market. Now again, I've been sell biased now for three weeks. It doesn't mean I won't buy stocks. It means just I was sell biased for three weeks, and we've gotten really great value over the last several weeks, but the one thing we talked about today pre-market and morning strategy, it felt different, right? You had Tesla upgraded this morning by Morgan Stanley. It feels like Morgan Stanley is literally upgrading Tesla like every other day. It feels that way. I don't know why, but it feels that way. You had Morgan Stanley upgrading. You had really aggressive selling all across the board now for quite a while, and the one thing that we did not see this morning was really aggressive pulls after the market was open. You got a little profit taking again naturally, there's going to be people coming in and selling some stock. Obviously, especially anybody who was long overnight last night, and again, before anybody turns around and say, that was the bottom, that was the bottom, that was the bottom. Realize this. Anybody could say the word the bottom. The real question was, when the market sold off, the Nasdaq sold off 400 points, if you didn't get long on the close, it's irrelevant. The bottom, the shmottom, anything else in between, it's absolutely irrelevant. It's just words. The most important part, what we saw this morning was not only the stocks not go down, not give up their ranges, not get stuffed into supply, they reclaim supply very, very quickly. We'll go over the pivots in a second. This was the first day that I can remember in a very, very long time. We did not have not one single pivot to the short side, not one, which was not really a testament of how good the market is. It was just more of a testament how it felt like sellers pre-market, and again, it's really, really hard to explain. It's almost trying to explain to somebody what the win looks like. Everybody knows what the win feels like, but try to explain to somebody what the win looks like. It's very, very hard. So, unless you've been trading for many, many years, we've been talking about this a long time, screen time is kind of everything in this business. The one thing I noticed today around 9, 915-ish, it felt different, right? First time Tesla got rejected pre-market, it reclaimed. It got rejected at the open, it reclaimed, and you started seeing stocks that got really hit over the last several weeks than the videos of the world, the Tesla's of the world, the Facebook's of the world. Again, we'll go over the pivots in a second. Even AMC, you guys remember we were talking about AMC last night? Not that I wanted AMC, not that I was looking at it and I was dying to trade it today, but it was out there. It was viable. It was out there. We talked about this level yesterday, it got rejected three times and now stock is breaking out with really aggressive volume and stock is trading over $11 after the close, but what I like, what I did see today was aggression, okay? It wasn't like stocks were moving up a dollar or two and then you got a down tick of the futures and then everything collapsed, right? Like we've been seeing for three weeks. We saw today very, very aggressive buyers. The futures dipped, nobody cared. The futures dipped some more, nobody cared. If you look at the Dow Jones Industrial Average compared to the Nasdaq and again, I understand that's apples comparing apples to hand grenades, but even when the Dow Jones Industrial Average, I mean really came in at the close. The Dow was up like 300 and change. The Dow gave up 300 points into the close and the Nasdaq 100 did not move down. That's a huge, huge point of what happened today. Did every single stock participate? It felt like it did, but ironically there was a lot of stocks that were up today, but not every single stock was aggressive today. So for example, Tesla had a monster run, still running after the close, right? We had a huge, huge pivot on Tesla today, but the point was not everything is rallying, right? Yeah, Tesla exploding. And if you look at Netflix, for example, it was up on the day, but it didn't even take out the previous days high. You had, for example, a stock like NVIDIA that exploded today, right? Absolutely exploded today at one point today. And after I realized, I was like, holy crap, I'm buying stock up like up 28 points. But this thing exploded today and it's one day away from kind of reclaiming big levels. But if you look at Apple, for example, it was up today, right? It was up. It was up a decent amount, nothing out of the ordinary, and it got stopped at supply. So I think the market did a lot of good things today. I think the Qs, the member of the Qs did wonders today. Number one, it reclaimed the five-day moving average, right? Which was very, very bullish, very important, and tested the 10, which is huge, which is absolutely huge. Now again, we are nowhere near a reversal or a bottom until we start reclaiming some very, very significant levels. And we've been talking about these levels. But for now, at least for now, you can't really argue what we saw today. The Nasdaq was up at one point today, 500 points, going absolutely nuts. It didn't care what the financials did today. It didn't care that the Dow Jones Industrial Average sold off at the end of the day. The most important part was that there was buying, there was aggressive buying. There were any dip, got absolutely bought, however small the dip was throughout the day, especially names like NVIDIA and Facebook and Teslas of the world. The market did very, very well. Again, if you realize what I'm saying, I'm using the word market, I'm talking about the Nasdaq 100. Now look, we're definitely not out of the woods. Number one, if the bulls want a longer rally, something that more that we can really take. And again, there's a lot of names that I do like tomorrow on the upside. Obviously, Tesla is rallying again right now after the close. But there's a bunch of names I like. I like the video tomorrow for day two. I like, I don't love, but I like a bunch of names. I would have loved a little bit better sequence going into tomorrow if we would have just held on to that 310 level, instead we rally into the 312. And there's nothing wrong with that. But now the Q's need to reclaim 314 on the next close and start putting in baby steps, right? Going into the 718 level. But ultimately, and I got this question several times today in the webinar, and they said, well, Dan, when can we start swinging stocks? The only way you can start swinging, and I don't mean an overnight swing one day, so forth and so on. But to be comfortable in positions, the markets need to reclaim macro levels. And you hear me talk about that word macro levels a lot. But for the market, for technology to kind of stabilize, for technology to start getting aggressive today, whether it's an inventory portfolio approach, whatever you want to call it, they really need to reclaim the 320 area, which is the 50-day moving average. And if they reclaim the 50-day moving average, then and only then can we start talking about 324. And then obviously any close above this will start a really aggressive cycle. But again, we do not want to put the cart in front of the horse. What happened today was great for the market, was great for the bulls, especially when you account for three weeks of aggressive selling. We're not out of the woods, not even close, guys. Look, for us, again, this is the area we need to reclaim. So we're not out of the woods, but baby steps. Little, little baby steps are absolutely better than nothing. After a nearly 500-point day in the NASDAQ, is it possible we get a res day tomorrow, kind of an inside day? Of course, 100%. Again, a 500-point move on the NASDAQ is crazy, right? It's a huge, huge move. Again, it wouldn't shock me for the stocks to rest tomorrow to put an inside day. But the only good thing about that is if we do have a very, very structured inside day, and even if the indexes rest tomorrow, I think a lot of names like maybe like a Netflix of the world that was up today but didn't even take out the previous days high, maybe this wakes up, right? Maybe NVIDIA starts reclaiming this linear regression line and it wakes up. Maybe Apple, right? And again, these are all maybes. This is all contingency on what the market's going to do tomorrow. But look at Apple. Maybe Apple reclaims its 10-day moving average and it starts moving up. So we definitely have a good feel of what happens tomorrow. Again, I don't want to go in eyes wide shut. I understand the dynamics of kind of where we are in the macro space. Again, we're not in bull recovery mode. We just had a really, really good day, which is great. We participated on the long side. There was no pivots today. whatsoever to the short side. I would love to see kind of a red to flat open tomorrow because if that's the case, we can get organic buyers coming in and if they start attacking today's ranges, we could definitely get a part two. We'll see. Listen, would it shock me tomorrow we gap up in crap and start losing today's levels to the downs? Nothing shocks me anymore, right? Especially in the market that sold off three weeks and now had a really, really big move. Nothing would shock me. So have definitely an open mind for tomorrow's session. I am definitely leaning to the long side, but again, I'm very, very aware kind of where we are in the cycle. Again, macro wise, for us to go higher, we need to close above this 314 level tomorrow and then and only then we'll start talking about higher prices on the macro cycle. So let's talk about today's session. You know, look, my first notes were look, let's stay patient the first 30 minutes. I want to see the bulls have staying power lost, you know, longer than one candle, which basically means longer than an hour. For the last three weeks, any type of strength in this market has been instantly sold, like right away, instantly sold. So we got that, right? We saw that right away. The bulls were very, very strong. I started putting in pivot on top of pivot on top of pivot. So let's talk about this. Y ELL 788 needs to build. Here was Y ELL, right? It got above that 788 area went to almost 840. If you traded, again, it wasn't my cup of tea, but if you did trade it, good job. AMC again, again, excuse the dyslexia wasn't 650, it was 950, as you can see here on the chart. 950 that we talked about in last night's video got rejected once, got rejected twice, got rejected yesterday three times. It finally built above 950, exploded and now the stock is trading north of $11 after hours. Congratulations there. Chico's 615, 620 woke up towards the end of the day. I still like it, okay? I still like it. Took out the 615, 620, not a big move yet. Traded to the 630 level, I still like it. This thing starts reclaiming today's levels tomorrow. You should get another move, maybe back to it's 52 week high in the 350s. And this is where Beta started really waking up here. Facebook 262 needs to build. Here was Facebook. It doesn't look big here because it was coming out of a macro channel, but here is the 262 right here. 262, 262, 262, it just exploded above 262, went to like 268.5 and then it got rejected, right? It got rejected off this macro channel here, but big move on Facebook, NVIDIA, I caught this NVIDIA, again, I'm really loving the NVIDIA. As much as I love Tesla, I'm really loving the NVIDIA. It's been a great trader, 492 needs to build. Here was NVIDIA, right? So it took out the 492, right? Here it is right here. It took out the 492 and just, excuse me, right here, excuse me, sorry about that. It took out the 492 and just started going really, really aggressive, putting a high of the day, a 505, look, if this thing could just start reclaiming that 506, 507 level, maybe if we get a day two, maybe it goes back to the 20s. So definitely keep an eye on NVIDIA for tomorrow. So Facebook was big, NVIDIA, 495 on deck. I went to 504 and here was, I mean, just an absolute monster move. So look, anybody who tells you that they believe that we were gonna have a 500 point rally in the NASDAQ 100 today, again, I would love to get the pills that they're taking because I don't get it. Anyway, so 607 was an initial pivot. And I said, look, take it for cash flow. It could get to the 612, 613 level. 621 will be the big important level if it gets there. Now, why was 611, 621 important? If you look at Tesla, if you remember the previous day, I caught Tesla yesterday, it ran to that 620 level, right? So here was the 620 level. First of all, here was the sneaky pivot right over here, this whole 607 level. You see this whole pivot right here? This was 607, it got above 607 and then it traded right to supply at 613. That's what we talked about. And once it got above the 620, that was the yesterday's high, it just went out of its mind. Now, I said there's a shot, it gets to 631, right? 631 from 607 to 631 is a gigantic move. What happened after, if you are still on this thing, God bless, you're a better human being than I am, but the moral of the story is if you are still on the stocks at 680s, congratulations. It went up another 50 after the daily supply. So again, if you saw this coming, congratulations again, you're a better human being than I am. But again, ultimately it felt kind of nice to buy stock today. It almost felt refreshing, it almost felt like spring. I've been again, sell bias for three weeks. This is probably the first day I bought stocks. So most important thing guys, let's go into tomorrow. I am 6040, buy bias for tomorrow. But again, we are very, very conscious of what the market can do, where the market still is. And the most important part is what potentially could happen next. Guys, have a great night, everybody. Love you all, and God's help. I'll see you all tomorrow. Take care.