 You're probably going to be faced with a slow drift, right? Either a slow drift to the downside by a lot of names that have pretty big runs. 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 evening everybody. Welcome to another edition of the Access a Trader dot com. Let me wrap up show. Hope everybody's doing well. Okay. Hope everybody had a great weekend. Hope everybody had a pretty decent trading day. So we started talking about on the weekend update that, again, you want to give the bulls the benefit of the doubt. There was a lot of good setups coming into today. And you'll see, especially off the watch list, you'll see the numbers that we talked about pretty much throughout the weekend, the game stop to the downside, AMAT, NVIDIA, Tesla obviously had just a ridiculous run. And the one thing that I kept on kind of reiterating over and over again is you want to make sure you start looking and start watching for some signs of the market getting tired. Now, if you look at the pre-market, you'll see, you know, everything was spiking up. August got to a pretty aggressive start. The Dow was up. The Nasdaq was up. Everything was up. And slowly but surely the market started losing a little bit of steam. Now, again, that's not a case for this is the market top. The market's going to zero short everything in sight. This is a case that we talked about even when we went to all the way back to, you know, a couple of weeks back. When you saw the market started getting tired after, you know, five, six straight sessions and started losing a little bit of steam. Again, not because the market is short, not because this is the top of the market. It's just because the market, when it goes up too aggressively, too fast, it starts to kind of get to the point that it needs to get its feedback under. We kind of need to breathe. You kind of need a little bit of rest. And when you look at a lot of names, and we started talking about this on the weekend update, we started looking for clues, right? What happens after a stock takes out of a range? What does it do the rest of the day? What happens when a stock puts in an opening range highs? Let's see what it does for the rest of the day. What happens when a stock takes out all time highs? Let's see what it does for the rest of the day. And these are all signs. And this is all data that we continue to talk about and continue to kind of reiterate the point. It's not just price action that matters. It's price action that matters off of important channels. So we kind of got our answers to a lot of those questions. So for example, Tesla broke out three days ago. The breakout is not at 700. The range is at 700, but it broke out at 656. And then again, over that 680 level, this is the last high here. And today, again, took out that 700 level and exploded to the 727 level. The question was, what was going to happen after? And if you look what happened after, it's literally a six hour straight of lower highs and lower lows. Like literally six candles in a row, lower highs, lower lows. Then you get into a name like Moderna. Again, not that this is the end all be all, but the point is, again, we're looking for more clues. Again, if you look at with the CDC reported, it said it's seven day average of daily US COVID cases surpassed the peak of last summer. It's just the headline. Okay, it's not meant to be a conversation that we're about to have. It's just the headline. So the question is, well, what was it going to do after it took out its 52 week high or all time high? So it took out its high 362, went to 365 and a change, and then had a really, really aggressive reversal. Again, things we're looking for. If you guys remember NVIDIA, right? I've been talking about NVIDIA now for, you know, for about a week and a half. And I said, look, that 99 areas gotten rejected three times, right? It finally got above the 99 area, went up about 60 cents or so, and then went below. Again, these are all kind of telltale signs that stocks are getting pretty tired. Again, doesn't mean the market's going to collapse. It's not going to go to zero, but it's very, very tough to wake up for tomorrow's session. And after you do your research tonight to turn around and say, look, I'm 100% bullish. The markets looks great. I think we're going to rally. Yeah, it's great. You can say whatever you want, but the point is when stocks get tired, just like you, right? Run a race, you know, take a deep breath. You need to kind of reset and then you run another race, right? That's kind of the whole point of trading, dissecting what's in front of you. And if you start gathering information about, well, look, stocks are strong, but they're not following through. Stock looks great, but they're not following through. They're getting good price channels and aggression move out of the channels. But guess what? They're not following through. If it happens once, okay, I get it. It happens twice. That is a theme, right? So going into tomorrow's session, you know, I'm not really in love with anything, right? I can't really turn around and say, I love this. I love that. Yeah. I mean, look, is there some longs that I like? Yeah, there's a couple of longs I like. Is this some shorts? I'm like, yeah. Some of these meme stocks that, and we started talking about GameStop over the weekend update, our nice little, nice shortening this morning and it stopped perfectly at support. We'll get to the pivots in a second. But I think more chances than not for tomorrow's session, you're probably going to be faced with a slow drift, right? Either a slow drift to the downside by a lot of names that had pretty big runs. And again, remember, they're not shorts. They're just stocks that are drifting lower. Any news, any rise into rising 60 minutes support that you're not aware of and you're going to get run over right back to the upside. So you can't go into tomorrow's session and say, well, Dan says the market's short. No, specific names that are going to possibly break down ranges are short setups. But the overall market, I wouldn't call it a short. I think it just needs a break. And I think if you're going into tomorrow's session, guns blazing, bull bias on one side of the market, I think you're going to be very, very disappointed. And just because kind of the three examples that I gave today just a few minutes ago are probably going to be a pretty good landscape of the overall market. What's going to happen? Just think about this logically. If a stock can't confirm, excuse me, if a stock can't not resume an uptrend after it confirms a channel, a macro channel, well, that's the first sign of the market being tired. Is it an isolated situation today that we might resume tomorrow? OK, we'll see. Right? Let the market tell us then that's the case. If we start seeing especially early morning buyer strike, that's the best way of saying if we see a buyer strike on any spike of earnings, any spike of futures tomorrow morning, that's, I think, we're going to start looking a little bit more to the downside. Obviously, still be buy bias. But just remember what we talked about in the weekend update, the Nikkei, although it rebound, I didn't see what it did towards the end of the day. But although it rebounded 1.8% throughout the session, or at least in our morning session, keep this in mind. They've been gradually going lower and lower and lower. So I think you have to be mature tomorrow. OK, I don't think you need to be, as they say, bolster the wall, pedal to the metal. I think it's more of a concentration day. I think it's more kind of gathering data. See what's weak. See what's strong. You don't need to trade like a lunatic every single day. You don't need to trade full size every day. Just see where the market rotates. See where, if there is a theme, that's going to be possibly measured out for tomorrow's session. And if our favorite names kind of wake up, like in the videos of the world, like the apples of the world, and start confirming challenges, then maybe we can get a follow through on some big aggressive beta names. But until that happens, I would not be surprised if 24 hours from now, we're having the conversation that says, well, the market played out exactly how we thought. There was a very, very tight channel, constriction of channels, and there wasn't really a lot of room. I wouldn't be surprised. And you know what? That's healthy, OK? The market needs to do that from time to time. Again, the market doesn't care that you're waking up with last night's erection that wants to trade everything in sight. The market's going to do what it has to do. And if it's tired and it's giving you clues that it's tired, well, guess what? It's tired. If it looks like a duck and walks like a duck, I promise it's not a rhinoceros. So it's very, very important to kind of understand what we're looking at, OK, for tomorrow's session. Understand that we might not have one of these explosion of channels, both of the up to the downside. And I think tomorrow, just, again, learn to be prudent, learn to sometimes take the little bit more defensive approach. And again, if there's good setups there that confirm, yeah, of course we're going to trade them. But if not, again, always remember there is another day. So let's talk about today's pivot. Not a lot, right? Not a lot. You have to kind of focus out of the box. A lot of the moves came in on one individual channels, and then they kind of faded for the rest of the day. But again, you don't need many trades. So let's talk about it. So obviously, this was last night's focus list. You had Tesla, that's 700 area. Everybody saw what it did by now. But remember, guys, again, the word breakout. Breakout is a very, very subjective work. For me, Tesla broke out at 655. This was three days ago. Today it confirmed that $700 channel. I took NVIDIA, went up 50 cents, went down 50 cents, went up 50 cents. I finally took a small loss on this thing. It was about 60 cents or so. I'm going to revisit it tomorrow. Again, the one cool thing about NVIDIA, and we were seeing this now the last two, three days, they are coming for the 205 weeklies with a lot of repetition. It's not just one or two bets. The aggressive nature of the bets is not exactly where I need it or like it to be. But I'm definitely, definitely continue to watch that channel. NEO, you know, not a nice move today. NEO was a play literally off of Tesla 4530 needs to build. Here was NEO off the daily list, right? NEO took out 4530. You went to about 47. Again, short term, $50 call buyers coming in. Apple, I still like. mRNA, not a big move at all. 6263 needs to build. Went to like 65 and change. AMAT, I forgot to look at. For some reason, I forgot to look at today. Guys, I totally apologize. I forgot to look at if you took the trade. Congratulations. I completely missed it. 4150, 142 needs to build. Here was AMAT. AMAT really had a nice move. I can't believe I forgot to, I literally forgot the stock. AMAT took out the 41 and a half, took out the 43 and traded all the way up to 45 and a quarter. For some reason, I just forgot to look at it again. FISV did nothing. GameStop was actually pretty good. I actually shorted at 158. It was the opening range low. Covered it right near the bottom of the range in the 55s. See, I think the stock goes lower, right? I think the stock goes lower here. The only reason it stopped, I actually shorted off this range here and it stopped right at the 55 level. So I shorted off the 58. If it could get below this 55 area, guys, there's a lot of room to the downside. They were coming for short term expiration in the 140, 130 weekly contract. So let's keep an eye on this thing for tomorrow. At least there's definitely a value trade set up there. And this thing has been kind of like grinding lower, grinding lower, but if this thing loses the support, I think there's a lot of room down. So let's keep an eye on that. And again, the national pivot is 99. Again, only went up like 50, 60 cents. Apple never got to the 47 level. Moderna is spiking up a little bit, right? Spiking up a little bit off the 63. Like $3, nothing there. Amazon for experienced traders watched the green to red. Only went down like $7, $8. That's actually nothing for Amazon. AMD was actually a pretty good watch. Watching for a blow off top in the morning session. Incredible three day run for experienced traders only after the first move up. Let's see if it goes green to red. Note, this is not a pivot. This is just exhaustion. And it does a big move. I mean, really, really big move on AMD. You could see the, hold on a second. You could see what happened here at the open, right? You see here what happened at the open. And here's the market, you know, the market opened up and just got destroyed. Green to red went down like two and a half dollars, but this thing is so damn strong, so resilient. It actually went back to red to green and spiked up all the way up to 110, just some monster, monster stock. But again, if you took that green to red, wash out this morning was really good. FISV never got to 117. BTBT, nice moving. For all you guys who trade these smaller cap names, 99010 needs to build. Here was BT, what is it? BTBT, right. BTBT, so here's the whole 99010 area. Went to 11 and a quarter. Nice move there for all you guys who love these smaller cap names. Nice move there. You know, great reversal on AMD. We're going to take on the way up on BTBT. Game stop, right. So 158 if it builds below it can flush. Again, take on the way down when all the way down to 55. I covered in the 55 as my last piece. Nice move there, nothing wrong with that. Again, here comes the weekly 205, right? And it got above the 199. That was kind of my case. You know, things are getting tired, right? Like really, really tired. And this thing can just kind of just stalled out here. So nothing there, but I'm going to still watch this thing for tomorrow. Tesla for a bounce never got down to the 706, 707 level. And I think that's it. So, look, going into tomorrow, do I love anything? I don't love anything, right? I think maybe tomorrow there's early weakness on Tesla. Maybe they could trap off the bottom range, maybe give a trade for a red to green move. See, I think Tesla, just because it had such a huge run, just over the last three days, it needs rest. It really does. It needs to, you know, consolidate, maybe even back test the bottom range here. But it needs, it's tired. It really is tired. And the moral of the story is for this thing to go, and again, there was some really, really aggressive call buying for the August, for the September, 750, 800 calls. So the money flow is there. I just think it needs a kind of a couple of days to kind of relax, to kind of get its win together. And just like mirroring the market, I think the market just health wise needs to kind of, you know, digest a little bit to see where the next directional buying is. So guys, have a great night, everybody. God bless, and I'll see you all tomorrow. Take care.