 That's kind of the weirdness of this market. It's completely disconnected. It's the haves versus the have-nots. It's the upstarts versus... 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, good morning everybody. Welcome to another edition of the Access a Trader.com Weekend Update Show. Hope everybody had a great week. Really, really odd week. We'll get to that in a second. First of all, we got three weeks left in the year. You know, what looked bleak about a week ago, a week and a half ago, that this whole notion of a Santa Claus rally kind of died out, really got saved very, very aggressively this week. But with a little asterisk involved, indexes had an incredibly strong week. Highest percentage moves, 4% pretty much all across the board on all the major moving averages. This is the biggest move this week since the first quarter, right? Since the first quarter of 2021. And if you look at the data, and just to show you how bullish the market was, the CPI reading that came out on Friday was the highest reading in four decades, 40 years. Usually this would be a negative, a complete negative for stocks, but since the market has been so strong, and this is kind of what we talk about all the time, it's not the news that's most important is how the market embraces the news. And what should have been a sell-off on that reading was a pretty big rally towards the end with a lot of names that are putting in strong financial balance sheets. And we'll get to that in a second. Really leading the way. And that was a very, very important part. And that's kind of the mainstay where we keep on reiterating over and over again on all these updates. Again, there's 30,000, 300,000 blogs, financial blogs that will tell you exactly what the market did, what Wall Street reacted to, but as traders, what we try to do is reaction to the reaction of news in which way the wind is gonna flow. So when the market started selling off the day before Thanksgiving after Thanksgiving on the whole Omicron situation, my first thought was, well, let's see how this plays out, right? Let's see how the market gets used to this data. Let's see how this market reacts to further headlines. And the market really embraced it very, very quickly and moved higher. And that's exactly what happened with this core CPI news came out on Friday. But the oddest part about this week, you would have thought would have 4% rise in the NASDAQ. You would think everything was flying into its all-time highs because again, the scoreboard says the market is outperforming individual stocks. And if you look at the names that had the biggest run-ups of this year, like really aggressive growth stories or even leaders, right? They got sold and that's the most oddest part about it. But 4% rise in the NASDAQ 100, names like UPST that had a phenomenal, phenomenal run over the past year, looks like they're in their own bear market. A name like Unity Software. Again, same case scenario. You had this big, big run this year. It looks like they're in a bear market. But not only those, you have the traditional high beta names for the exception of two and we'll get to that in a second. They're all being sold. Amazon is acting like they have a plague. Like they gave everybody the coronavirus. Look at Square. Square is in its own bear market. Netflix, again, can get out of its own way. Zoom can get out of its own way. Roku had this really, really big move and got a big upgrade. Had the whole legality thing headline with YouTube. Okay, you had this one big move and they sold it off for the next two days. Again, this picture here, the story here is not sold. It's not yet written because again, this thing could literally bounce back, trap on the five day moving average and go back higher. But now at least we have a two-sided play on Roku going into next week. Names like Facebook as well, right? Facebook, we talked about Zoom. Names like Boeing. So the wildest part about it is if you really break down what happened in technology and you say to yourself, what all these stocks that are looking crappy, right? I think it's a nice way to say it. Well, how could the NASDAQ be up 4% and then you turn to this cash house, right? Apple is parabolic right now. It's really, really starting to go parabolic. This is the one that can go which I really, really like going into this week. If you look at the two names, the two biggest strongest arguably, top two out of top five strongest tech companies in the world, they're both thriving. And the reason why they're both thriving is the money's coming out of growth, the potential plays, right? Like drafting Kobe Bryant out of high school, maybe he'll be great one day, maybe he won't. So the money's coming out of all these stocks that had great, great runs and they're putting him back into cash cows. Microsoft, Apple, right? These are the biggest names and the way the market's going, if we continue to have a thriving market, right? Bullish sentiment going into this week. You have to assume Microsoft challenges, it's all-time highs. We started seeing ridiculous option flow coming in the name. That's exactly what you need, short-term expiration, big out-of-the-money calls and that's exactly what we had in Apple, right? Before it had that really, really majestic run. And now that's what we're getting into Microsoft. And the oddest part about, for example, Friday session, the majority of value, if you're trading the tech space in a weird way, has been to the downside, right? We'll get to the individual pivots in a second. So kind of going into this week, you gotta be bullish, right? You gotta be bullish, but in an odd way, you gotta be super cell-sided on the names that had the big growth runs, they were paying for the potential, they stopped paying for the potential, and here we are. So this is a unique market. It was very, very odd last week. One day, the market looked great, right? The market looked great. We were looking for a follow-through. They sell the market off. The next day, we're looking for a downside action. Downside action comes and then they rally the market into the close. You had a very bipolar type of scenario. A lot of stocks got disconnected. Usually when you are trading tech, everything goes in tandem, right? Usually if Apple is strong, that means Facebook, Netflix, Tesla, Amazon, everything in between is strong as well, but they got disconnected. It was the have, the have-nots, the ones who've been collecting and hoarding cash for years and years and years, the Microsoft and the apples of the world, very, very strong versus the names like the UPST, the upstarts, no pun intended, but the upstarts, the Unity software is the Coinbase, right? These are stocks all in big downtrends right now. And the most important part is we have to see if that trend does continue going into this week. And I think it can just because you're seeing a lot of really good setups both to the upside and you're seeing a lot of really, really good setups to the downside. So it was a very, very odd week last week. Strong numbers being put on the scoreboard, but huge disconnect and that's what we have to kind of keep an eye on for next week. So going into this week, I am bullish, but there's a lot of sell bias that I do like. So let's talk about some names that I really like going into this week. Microsoft, right? Looks great. Came out of this really aggressive channel. If you guys remember the prior day, and this is where we talk about there's no defense for a reload seller in the crowd. The other day, Microsoft took out this 36 area needed to build a seller came in, came in very, very aggressively, came in, came in, just wasn't letting it go. I took the trade, lost a dollar in it. And then the next day, which was Friday, just they cleaned up that seller and just went absolutely bonkers. So kind of a little bit of a note. And we talk about this in a lot in different workshops and webinars and Q&As. Anytime guys, when you're watching the level two and it's a big level, right? It's a big macro level. And you see thousands and thousands of hundreds of thousands of shares being trading on that important level and the stock doesn't move. That's your first clue. There's a reload seller in the crowd and the one prop, well, you have two choices. Number one, let it play out, right? Let it play out. But the problem with that is that person might have five million shares for sale and eventually buyers give up and you can lose two, three, four, $5 in the trade or you could sit there and just literally wait till it gives up. Wait till they start cleaning them up but that could take several days if not several weeks. So it's a very, very touchy subject. But for me personally, once I see any type of trouble, technically that the stock can't get through that level and they're pounding the offer over and over and over again, here's a move. That's a big red flag. But this thing finally reclaimed Thursday's highs. This is the highest close in this whole formation. And now it looks like it wants all-time highs. So definitely keep an eye on Microsoft. Any weakness on Monday trapped into rising 60-minute support, red to green or through Friday's channels looks really, really good. And here's the flip side, right? Here's the flip side. Look at the video, right? Again, here's another perfect example of a stock that had this massive, massive run and now two days in a row underneath the 20-day moving average. And here's a flip side on the other side, right? Here was a short on the video from Friday and there was a massive buyer there, right? A massive buyer there and just wouldn't let go of the stock for the first an hour and a half, two hours would not let it go. And here is another scenario that you have a choice. Either sit there and wait to get squeezed back out or get out of the trade. And this is again, one of the great areas of trading for all you guys who are active, especially day traders, active day traders, you realize how important it is to read the order flow, to watch the option flow, right? Watch the option flow versus reload buyers and sellers. And if they're not correlating, if they just don't move off that level, it's a pretty easy way to get out of your position. And the one thing you always have to remember, guys, this is the stock market. Everything's liquid. It's not real estate that you're hoping for one buyer to come in. If you ever feel uncomfortable with a trade and just doesn't feel right technically, just because you're not seeing what you're supposed to see, just get out of the trade. You could always get back into it. But again, look in the video, they finally cleaned them up, got hit pretty, never rallied. I like this thing lower. You know, I think it starts taking down Friday's channel this week. I think you can see lower prices there as well. Qualcomm setting up once again. It's one of the names that held up a very, very strong, you know, beautiful, just a beautiful, beautiful distribution here. If the market continues higher, watch out for this thing to attack the top channel. And a name like TTD is very, very interesting because look how tight this channel is getting, right? You have the bottom channel right here. You have the top of the channel here. Something has to give. So I really like TTD, literally on both sides. They're either gonna attack the top of the range here or attack the bottom of the range here and get pulled down with every single growth story, if that is the continued theme. And one name that's not sexy, but broke out on Friday, and you know, would broke out on Friday continues to look really, really good. A name like Colgate Palmaud, right? Not sexy. It's not gonna make the Wall Street bets, you know, radar, but this is a name came out of this channel here. Very slow mover, obviously not a day trade, but if this thing starts confirming, can go high as well. And I do like snow. I do like snow as well. Snow had a big, big move. And now it's consolidating this little flag. If the market continues to be good and this thing starts confirming this whole channel, who knows? Maybe you're gonna move back into the 400 area. So I think going into this week, you have to be a little flexible. You have to be open minded to kind of trade on both sides. Stick to the ones that are very, very strong, especially the Microsofts of the world, that again, if it does what I think it's gonna do, it might pull an Apple type move over the next couple of weeks. So let's talk about Fridays, Fridays pivots. And you'll notice the majority of them were did a downside. And this is again, a perfect example, how growth and versus companies that have really, really hordes of cash did this week. So NVIDIA 304, if it builds below, can flush. We talked about NVIDIA, took out the 304. It took them two hours to clean up that buyer in the 303s. But it finally gave it up, put it in a low of like 298 and change. If this thing confirms, I think it goes lower. Game stop, not a big move. It went down from 51 to 48 and then had the pretty big reversal on Netflix. Again, another, you never know the Nasdaq was strong. Netflix 610, if it builds below, can flush. Here was Netflix, right? It took out the 610, went down to 605 before rallying back a little bit. CVS, again, not a sexy name, right? But 9670s for experienced traders for a bounce or that 98 confirmation. It's CVS, not sexy, but it has a lot of catalysts. You have the flu shots. You have COVID shots. You have booster shots and yada, yada, yada. Stock took out the previous channel and now it's waiting for that $100 push. Nice move there on CVS. You got Overstock that got killed. 77, if it builds below, can flush. Here was Overstock, okay, here was Overstock. Took out the 73, went down, excuse me, took out the 77, went all the way down to 71. Nice move there as well. Oracle off the open 9850 flush, which happened both sides and a bounce for experienced traders for that 102 confirmation. Here was Oracle, right? Here was Oracle, went as high as 106 and change. Duh, duh, duh, duh, duh, duh, duh, duh, duh, duh, duh, duh. You have Crowd, 199 for bills below, only went down a couple of bucks. Microsoft, here was the big one on the upside, 337 needs to build and Microsoft closed pretty much at the highs. Yeah, within 30 cents off the highs, about 343. I think this thing goes higher. Monster, monster move. In Microsoft, Overstock take on the way down. Microsoft, here comes the 340s, 345s. Overstock, 148 on deck. GameStop, 148 on deck. Nvidia, 2998, 60s, next support. So you can see there's a lot of value to the downside. Obviously some pretty good moves to the upside as well, but that's kind of the weirdness of this market. It's completely disconnected. It's the haves versus the have-nots. It's the upstarts versus the companies have been established a long, long time ago. Will that trend continue this week? Yeah, maybe, maybe. And names like Tesla still need some work. It did reclaim the 50-day moving average. I'll watch it. We had a really nice pivot on Tesla on Friday from that 1,002 and then confirmation of 996 went all the way down to the 880s. But the point is it's not here, not there. It did reclaim the 50-day moving average. And the last time it reclaimed the 50-day moving average, it went on a big, big two-day run into the 10-day. So I am bull biased on Tesla, but we have to see exactly how it trades early to formulate a better opinion once the daily, excuse me, once the 60-minute channels start to firm. But based on what I've seen here last time when it confirmed the 50-day, maybe we could get a two-day run back to the 10s. We'll see, we'll see. So guys, have a great weekend everybody. God bless, go live your life, go smile. It's the holiday season. Don't take things too seriously. It's just all about the quality of life and that's all we're trying to attain. Guys, have a great day, have a great weekend. God bless and I'll see you all Monday.