 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 theaccesotrader.com. Nightly wrap up show up everybody is doing well. If you are brand new to the channel guys, thank you very much for tuning in. If you can be so kind, take a second to like, share, subscribe, come aboard into this never ending journey of technical analysis and trying to figure out what the market's going to do next. Today, obviously the big story was FOMC. I don't think it was a surprise today that rates were unchanged. The surprising part of what we saw about today's session was the language in Jerome Powell's testimony or actually his Q&A. Initially he said potential rate of hikes are on the table. The market didn't like that news and initially the market started coming on down. Then to follow with, forget about the rate hike situation. We also potentially could be looking at three rate cuts for this year. What are we doing here? First we're talking about rate hikes on the table. Now we're talking about three potential rate cuts and obviously the market like that news a lot better. If you look at the QQQs just as one little proxy. They just went out of their minds with those comments. The Dow finished up 400 points. The NASDAQ finished up 200 points. A lot of the news that we've been talking about for a while, they really broke out today with some very, very big aggressiveness or very close to breaking out of previous ranges. If that wasn't more fuel to the fire. Well, MU had earnings after the close and MU shattered their earnings. They really did and the stock is surging. As you can imagine, every other semiconductor is rallying with us to put more fuel on the bull's fire. Now again, you're going to have a whole group of people turning around. So, wow, this market doesn't make sense. It's still overboard. It's still over this. Again, guys, I've been saying this for 300 years in a row now. Stop thinking. Stop overthinking. Stop trying to dissect every single headline. The market is the market. It's going to do whatever it wants. Again, if the market went to all-time highs during the pandemic, what makes this less rational than that? If you told me two weeks into the pandemic that we're going to be at all-time highs a month later, that doesn't make sense. But yet here we are. So, don't try to figure it out. All you need to know is above the 50-day is bullish. Above the 50-day is bearish. Below the 50-day is bearish. And you can go all the way down, right? All the way down the line. What happened when we finally broke above the 50-day moving average? And this is going all the way back to November of 2023. And here we are, one of the greatest rallies definitely in my career that's spending now north of 25 years, which is absolutely amazing. If we start losing the 50-day moving average, in this case it's, what, 429. So, we're not even close to that. We're close to the highs than we are to the 50-day. Just keep on enjoying it, right? Keep on enjoying it. Keep on riding it. Try to find stocks that are coming above their ranges on intermediate channels. Don't chase stocks that are up two, three, four weeks in a row. Just be kind to your account, okay? Learn how to walk. Learn how to crawl. Learn how to take baby steps in your approach. And you'll start seeing some pretty good results when you don't force the issue, when you don't start forcing your development. And that's kind of where we are right now. We're in a very, very aggressive bull market. Even the weak names are, you know, finding their footing. No three stocks were weaker in the last month than Apple, right? Then Apple, it finally woke up. Then Google, right? It finally woke up. And last but not least that we've been talking about the Tesla potential trade back up now for a couple of days has been Tesla. You know, Tesla had an incredibly rough time in the last several months. I don't think anybody has denied it. The majority of our trades ever since it lost the 50-day moving average has been to the downside. This is finally, it's getting a little bit of footing. It finally had a really, really big move. If you guys remember on Monday, it raised prices on their model, why I believe in Europe. Yesterday it had a res day and today closed over the 10-day supply. And again, if you look at the options market today, they were betting pretty heavy for the weekly 180s, which correlates pretty nicely to the 20-day supply. Again, by no means is Tesla out of the water yet, but this is now in the middle of a good tradeable bounce. And I believe if everything goes well, we should see at least the test of that 180 level in the next day or so. Hopefully for tomorrow. Amazon, right? Amazon, again, we'll go through the individual names. I just want to go through the stocks. Amazon, if you guys remember a couple of days ago, we started talking about the reclaiming back of the 5-day moving average. Now, Amazon is, you know, stone throws away from the March highs. Looks great. NVIDIA, right? NVIDIA has been kind of all over the place in the last week or so. It's going up. It's going down on the event. And now it's kind of stabilizing with this news on microns earnings as it possibly finally starts getting above Monday's highs and starts waking up. Why not, right? Why not? Again, the point is follow the leaders, right? Follow the leaders. When the leaders wake up, that's a good thing. When the ladders wake up, that's a really, really good thing because it tells you the sellers are very comfortable in this market. Give you a perfect example today, right? AMD lost its 50-day moving average. Okay, that's a very, very bearish thing. And the stock got hit. Again, we'll get to the pivots in a second. The stock literally went from 77 all the way down to 74. But just to give you an idea how strong the market is, AMD reclaimed its 50-day moving average at 77 closed almost at the high of the day. So the bulls are definitely still in control. You might have your one, two days worth of selling, but until we get below the 50-day moving average, it's going to be very, very tough to convince me or convince any professional trader that the sentiment has changed. You might have a little bit of narrative change from day to day, but the sentiment is still very, very strong, very, very bullish. Chipotle, right? Maybe the stock will finally start to being tradable again. I haven't traded Chipotle in years. If anybody is traded Chipotle, you'll know the stock trades, $1, $2 spreads. They announced a pretty big, I think it was a 50-for-1 split. It'll get it down to roughly into the 60s. Maybe the stock will finally become tradable because it has not for absolute years. If you trade options, even the options market, the spreads are wide. Again, I'm an equities guy and I haven't traded this thing in a very, very long time. Now that they announced the split, hopefully this thing will start to give us a little bit more liquidity, a lot more user-friendly in the name because the company is great. Everybody loves the product. My kids go over it. They love Chipotle, especially after practices or training. You guys love it as well. Again, it's great, great fast food. I don't even know what you call it, fast food. I guess it's in that genre. Hopefully the split now will make it a lot more better to trade. Let's talk about it. Let's talk about it. QQQs are holding up very, very well. All-time highs, 440, 860s. Again, is it going to get there tomorrow? Probably not. Again, this is now the highest close in this whole formation above the $44 level. It's trading high. It's trading after hours up about 20, 30 cents or so. But the point is we are still, the trajectory is still going to the upside. You have the IWM that, again, held the 50-day moving average. It's kind of what we talked about over the 50s bullish, below the 50s bearish. It held the 50, rallied back up today, not that far away from all-time highs. The spies continue to go higher. Even the banks today, look at the banks today. You know, Citibank, Bank of America, JP Morgan. This is when you know the market is good, when the banks are actually leading, right? That's a very, very big deal. So good healthy market. Really good healthy market. Don't try to fight it. Don't try to get cute with it. When there's nothing to do, sit on your hands. So the market rests, you rest. And today was a perfect example. The morning, nothing was going on. I mean, literally nothing was going on. I literally took one train in the morning. I lost money in the trade. Of all things, I bought Oracle, right? I bought Oracle in the morning, couldn't figure it out. I bought Oracle in the morning. It went up about 70 cents or so, came back in, came back up and just went down. Just did absolutely nothing. Does it look higher? Yeah, but I couldn't figure out why I lost money in the trade. Things changed towards the end of the day. So things kind of worked out a little bit better, but it was kind of very, very weird. And all of a sudden, once Powell stopped talking, everything just started going absolutely nuts. And here are the pivots for today. Tesla, again, 174.72 needs to build. Here is Tesla, finally got above the 174.72 area. Closed a little bit lower than 76 to put it a high today of 76 and a quarter. If it starts confirming tomorrow, today's ranges, we should see a move into the 180. So that was good. It continues to be good. NVIDIA didn't confirm 905.50 in the regular session, right now it's trading around 908 after hours. Microsoft went absolutely nuts, nuts today. 421.67 needs to build. Here was Mr. Softy. It took out the 421.67, confirmed the 423 pre-market highs and traded all the way up to 426. If this thing confirms today's channel tomorrow, we should see the highs that it made. If you guys remember last Friday, it gave us a really, really big breakout trade there. So great move there on Microsoft. Meta went nuts as well. Meta 499.70 pre-market highs needs to build. Here was Meta. Meta traded all the way up to, I believe it traded all the way up to 408. Yeah, 408.20s was the high. This thing still looks higher. Oracle, yeah, go figure. I lost money in Oracle today. Oh, I lost a dollar, but still I just couldn't figure out why. Hymns. You guys remember what we were talking about? Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns. Hymns went up basically about a buck. Still looks higher on $19.00. April calls hit. Looks good as well. Hymns. Hymns. Hymns. Hymns. Amazon again, another way. You can see everything just woke up here towards the end of the day. Amazon 176.60 needs to build. Here was Amazon. Took out the 176.60, traded all the way up to 78.50s. Really strong move there. That looks higher as well. Carvada 8306 needs to build again. Everything went nuts, folks. I think you get it by now. Everything went nuts towards the end of the day. Here was Carvada. Took out the 8306, traded all the way up to 86.50s. So some 90 calls coming in for that name. DraftKings saw some $50 short-term expiration calls. 45.62 needs to build on DraftKings. Here was DraftKings. Took out the 45.62. The highest close in the whole formation went up about 80 cents from the breakout level. So that was very, very strong. And AMD got killed. Right? Got killed. It got killed at lunchtime. I missed it. I missed the 50-day breakdown. It went from 77 all the way down to 74. I caught the rejection, though, which was actually very, very good. It got back to 76.20s. It got stopped. I shorted there when it got down to the 75s and changed. I made some covers about 75%. The rest I got stopped out, break even. But again, for all you guys who caught the natural breakdown, great job there. And I believe that is it. So a lot of action here after the Fed, the market continues to look strong. Again, the leaders continue to lead, guys. Don't be smart. Don't try to overthink. Don't try to be a superhero. Just go with the wave instead of going against it. Guys, God bless everybody. Have a great night. I wish you guys all nothing but health, happiness, and future prosperity. And with God's help, we'll do it again tomorrow. Take care, everybody. Have a good night.