 Some of these names are like two, three dollars off their off their regular session ties, and that's going to be a very big problem. 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.com nightly wrap up show. Hope everybody is doing well. So after yesterday's pretty big move, right? We had a nice little rally yesterday. The question was what was going to happen today, right? And the old adage is if something doesn't take out the previous day's highs is very, very hard for to rationalize a scenario how something goes higher. And that's the one thing we didn't have yesterday. And so going into today's session, we know we had to see what would happen, right? And the biggest takeaway was there's a couple of two takeaways, which I thought the bulls did a really good job, right? Number one, the overall environment, again, we're still below the 50 day moving average. We're still way below the daily supply for the market to be bullish. We would have to reclaim this whole light blue line. We're still 25 points away. So that's what we're not talking about down the road. We're talking about strictly day by day, trying to figure everything out to the best of our ability. So so the market gapped up today pretty strong. And it wasn't like just a little bit of a gap up. These stocks had a really aggressive gap of everything was up, you know, two, three, four, five dollars above the previous day's highs. And I'm like, well, okay, that's bullish. The only problem was this morning, there was supply staring here at the Qs off this 277 level. Why was that important? That's the linear regression line. Again, it's not a brick wall. The supply zones are not brick walls, but there's a high probability that those areas will get tested. And if you don't know they're there, well, they're probably going to get stuffed. And that's exactly what happened right at the open. So anybody who bought stock at the open, you know, soon to realize what happened. The year is literally at the open here. You know, the market opened up. He had this really, really big gap and just just destruction, absolute destruction into into the lunchtime hour. And you could see here where the 77 area came into play. Again, this is a very, very real number. This is why I encourage everybody to put as many of these supply zones are. So you're not trading blind. You know, it's you don't have to guess where these stocks are going to stop. So the Qs actually went red. I mean, this is a really nice move. They went from 77 all the way down to this 268 level, really exaggerated, exaggerated range. And you say to yourself, oh, here we go again, right? We're still below the 50 day moving average and nothing has materialistically changed. And then slowly, but surely the market started rebounding because the market held the bottom of the 60 minute support and started rallying. And then right around that two, you know, two o'clock, three o'clock area, maybe I'm a little off iPhone. Well, not iPhone, but Apple comes out with basically a PR and it says iPhone Apple plans to reduce this iPhone 14 production. Considering it's like the paint hasn't even dried from the introduction. That's kind of a big deal. And I give the bulls a lot of credit. The market could have easily rolled over on that news and say, here we go again. This is the same thing. That's it. Bulls suck. Everything sucks. The world's going to end. And you saw this really big aggressive move down, took it down a lot of stocks with it, but in really good fashion, right? If the bulls, if you believe in the whole bullish theory, in really good bullish fashion, they came back. They came back very, very aggressively and closed pretty well. And at the end of the day, you saw 1% across the board on the Dow, the S&P and the Nasdaq 100. However, a lot of names will get to Netflix in a second. A lot of names were way off, right? Way off their daily high. Again, if you go back to the theory, we just talked about a couple of minutes ago, stocks cannot go higher without taking out the previous days high. Well, that's a little bit of a problem going into the Netflix earnings. So Netflix came out with earnings and I just kind of glanced over. I'm kind of looking at it now. They did 310 versus 211, which is pretty big. They did 7.93 billion in revenues. They beat that as well. The only thing is they will no longer guide quarterly paid membership after the fourth quarter. If you remember two quarters ago, that was the big decline in Netflix when they announced for the first time in history a significant loss in subscribers. So they're not doing that any time going forward. And if you look at Netflix right now, surging after hours, stock is up 14%, 15%. It's a really, really big move there. Not only Netflix, you have ISRG, right? They make medical equipment. I think prosthotics. I think so. I think so. Here's ISRG also surging after the close by about 7%. You got UAL, right? You got UAL just to kind of sprinkling different groups up 6% throughout the after-hour session. So you're getting a broad, nice little rally on earnings going into tomorrow's session. And here's the little problem we have for tomorrow, right? Here's the problem we have. The fact that we had such a big intraday decline on a lot of names, we are still, despite the bump in after-hours on a lot of names. Again, you could see after-hours on names, for example, like Amazon. These are all 60-minute views, right? Amazon, AMD, right? Everything's bumping up after hours. You got Tesla who reports tomorrow. And again, Tesla just continues to be just an absolute phenomenal trader today, two separate pivots to the downside. Tesla actually won red today off its pre-market highs. But the most important part going into tomorrow's session is even with the gap up, right? Even with the gap up today after-hours on a lot of these names, we're still looking at some of these names are like $2, $3 off their regular session highs. And that's going to be a very big problem extending into the opening range. So I think tomorrow the most prudent thing to do, just because we are kind of stuck in the middle of the ranges, despite the really good bump up today in Netflix earnings and ISRG as well, I think in a weird way, we almost have to wait till the 10 o'clock turn, right? I feel you guys who are watching this the first time, the PS60 theory, it's not one or five or 15 or 30-minute channels, 30-minute candles. It's six 60-minute intervals. That's it. There's only six candles for the day. The first one starts at 10 o'clock. So we're going to have to see if the market is going to continue to be strong and obviously shaking off that first pull today in the morning. That's a good thing, right? Shaking off the iPhone news towards the end of the day. It's a good thing, right? Now the question is, can these stocks, can stocks today, they got rejected off that 277 level on the queues reclaimed today's highs and start building? And that's kind of what we lead on the ETF side, right? The bulls really need, if you look at the queues after the close, right? What happened, right? I don't even know if this is a real print, but the queues are really going to need to get above this 77, 78, right? For this rally to have some legs that's more than like one or two days, the queues after they got their initial bump with Netflix, they kind of faded down a little bit. So for the market to rally tomorrow, right? For anything to be more than sustained one or two days of strength and wash and strength and wash, the queue is going to need to get above this 277.5, 278 level to start building back. If you look at the SPYs, right? You kind of have the same thing today. SPYs gapped up, put into high today, 75.5 and then drifted. I mean, look at the wash today, right? I mean, this is all happening at the same time. Look at the wash. The spies went from 75.5 all the way down to 368. That's a significant move to rally back. So again, in this type of environment, you are going to continue to see the high aggression volatility. You are going to see the sporadic overnight up 300, down 300 moves. And it sounds great on surface, but it's really not. Again, you don't want to be ever, I don't care what your strategy is. You don't want to be ever put into the situation that you're forced, right? You're mentally forced, not experienced traders, but more newer traders between your development years of one to five years. You don't want to be sitting there and almost like on gunpoint to participate in the gap up, okay? Because gap ups are aggressive, right? What they do, they fill in gaps. They're all over the place. Liquidity dries up at the open. You get wider spreads, higher probability that the market's going to pull a different direction. So you're almost forced, if you're a newer trader, if you don't know any better to kind of play the scoreboard instead of playing your setups and considering the fact that everything is going to open tomorrow right in the middle of the ranges. I think it's prudent for us to wait for the 10 o'clock turn to see which way does it confirm. Is it going to get pulled down again like we saw today or are the bulls going to reclaim today's highs and start building off its high? So Qs need that 77.5 level. The spies are going to need to reclaim 375.5 and start building in the higher direction as well. And when you look at the Russell, right, you have the same thing here. The Russell needs to get above that 77 level to have to stretch out for another day or two. Before you start talking about swinging this and that thing, remember, you cannot swing stocks below the 50-day moving average. There's a difference in if you want to take a shot on something but taking shots is not a high, you know, it's not a probability. You're taking shots like buying a lottery ticket is taking a shot, buying $50 out of the money calls into earnings. What do you have some sort of skill set? You took a shot, right? So you cannot take shots more below the 50-day moving average. If you ever start wanting a swing and you can, yes, you could turn around with that theory. I could buy it and use the previous lows. Again, you can do that. But the highest probability swings are always going to become above the 50-day moving average and the highest probability the clients are always going to become below the 50-day moving average as well. And that's kind of what we are. And keep this in mind. We say this on every single video. Stocks are not going to go straight down in a bear cycle. There's always going to be upside buys. That's where we're going to get. That's where we're getting in the last few days. It could obviously end at any time. So those levels that we talked about for the last few minutes, they're going to be needing very, very badly to get reclaimed, especially tomorrow on those opening range lows, opening range highs. Or we could have a scenario that we potentially could get a second day watch. Again, I'm not speaking out of both my mouth. All you have to do is just look at the charts and look where the stocks are trading after hours. And you'll see they're right in the middle of the ranges. Again, I'm not a good guesser. And I need confirmation to make things right. Guys, have a great night, everybody. God bless. Hope everybody's doing well. Go Yanks first inning 3-0. Hopefully it stays that way. And I will see you all tomorrow. Take care.