 But now at least we have a definitive bottom, right? So we have 286 still to the up, and we have roughly 276. 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 everyone, good evening everybody. Welcome to another edition of the Access a Trader.com. Monday night wrap up, hope everybody had a good trading day. One of the craziest days I can remember in a very, very long time. If you guys remember on the Weekend Update Show, I was pretty much very aggressively bullish, okay? The way the market closed on Friday, there was a lot of really good value coming in today to the market, right, to the upside. We talked about the 286 level. If you guys remember in the video, we talked about two levels that were very, very important for the bulls. You had the 286 to the upside initially, and then you had the 288 macro. The problem with that is the market doesn't usually do what you want it to do. And when you look at the futures this morning, they went down pretty aggressively, about 250, 300, on the Dow Jones, about 100 on the Nasdaq. The problem was my trading plan for today's session was literally 100% to the long side. That's where I thought the value was. If you watch any of my videos, especially the days that gap down after a very, very strong move the prior day, I always have this kind of the same game plan that when stops gap down, about 90, 95% of the stocks put in an average true range. That's kind of an expanded into pre-market support. And that's exactly what happened today. And if you watched any of my videos, the initial values always to the upside, just because again, you wanna give the bulls the benefit of the doubt, and you wanna see very, very aggressive early shorts get trapped and panic selling into the open. So in other words, if anybody got closed on a very strong close on Friday, and so the futures gapping down 250, 300, they would sell, stops get triggered, new shorts get trapped, and you get that initial move to the upside. And that's exactly what the market did today. And if you look at the final numbers, it's really not gonna pay the picture of what exactly happened today. You'll see on the Twitter feed, and we'll talk about the individual pivots in a second. We talked about at one point, I looked up and after the first hour, and I said, holy cow that anybody even realized that the Dow was down 400 points. We had some crazy moves to the upside. If you look at intraday, especially at the open here, you'll see what I'm talking about. If you look at the cues, this is what happened at the open, right? At the open, and again, we talked about the value. The cues went literally from 281, okay, to 281 to 285 and changed. Now why was that important? They got rejected the supply because we needed for the bulls to get above that 286 level that we talked about and bears really rejected that number. And what followed after was crazy trading session. You had incredible value to the upside at the open, and then you had really aggressive selling to the downside. Now again, these were the reasons why. Number one, we're getting a really aggressive COVID spike and again, it sounds like a broken record, but that's exactly what's happening. Everybody was looking for a possible, what's the word I'm looking for? Possible solution to a stimulus package over the weekend, and we didn't get that either. So you had a big move in COVID spike, you had no resolution of stimulus, yada, yada, yada, seven full days left to the election or at least election evening, and that really put in one big pot, you started around, you have a lot of uncertainty. So the bears had a lot of ammunition this morning, but if you shorted that first move, literally, and then we talk about shorting into the hole, and that's exactly what it was. If you're shorting into the hole after a big move in the previous days, you're going to get caught nine out of 10 times. That's unfortunately what a lot of uneducated traders did get caught today at the open. You had literally, think about this, you had a move in the queues just to put it into perspective. Again, you had a move to the queues going from 281.60s to 285 on one candle. You're talking about a $4 move on the queues of one candle and what followed in those queues. Think about that. Look what Amazon did at the open. This is literally at the open. Amazon went from $31.85 into supply here. This is a $100 candle. If you look what zoomed in at the open, and again, you can again, you're talking about a catalyst, COVID, COVID, COVID. But again, look at these candles. They literally went from 517 to 540 on one candle. And if you go through the Nasdaq 100, you see a lot of the same names. I mean, look at Alibaba. Alibaba literally went from 308 to 315 on one candle. So you had crazy value at the open. Is it possible to catch everything? No, it's not. The only way you can catch everything is if you're a computer, if you have 12 hands and you're capable to do unhuman-like-god things. Again, try to catch one or two of these things. The only way to do so is to pay attention to the names that you want to see. What's more important, and as I was charting the market today after the close, I started looking at the names that stopped rallying, kind of intraday, and started making lower lows after the futures rally. And I started looking and the stocks that really stood out what these COVID names, like a name like a Peloton, like a name like a Zoom, then now at least we have a very, very definitive bottom, we have a very definitive top. But the one thing that I kept on thinking over and over and over again, you're going to get some sort of resolution eventually over the next couple of days on COVID. And according to Trump and according to the other things, there are on deck some sort of vaccines, whether it's Moderna, AstraZeneca, Johnson Johnson, Gilead, whatever the case may be. And I started thinking if we start paying attention to the bottom range, not to the top, because the top of the range is you're always going to find because as COVID spikes, these are going to be the place. But if they stop rallying, like a name like a Zoom, for example, and again, this is not for tomorrow. This is not, at least I don't think it's going to be for tomorrow, but eventually when these things stop rallying and there is more news, for example, of a vaccine on the horizon or maybe kind of a less death rate, which we're seeing, less hospitalized rate, which we're not seeing yet. But eventually, once these things stop rallying, these things may be really, really aggressive shorts when they start losing their rising support. Same thing with Peloton, Zoom, name like Docu, for example. And again, we have very, very clean channels now. Again, I don't think they're going to be for tomorrow, but it's something to keep the back of our head. The only problem now going into tomorrow's trading day is last week, Wednesday and Thursday, I was very, very sell buys. Friday, I was buy buys. Today, I was buy buys. And again, things worked out at the open. The problem with today's closes, and if you look at a lot of names, number one, we are in the middle of earning season. So for example, Tulow came out with earnings tonight, stock tripled over the last year. You had a guidance, I think they beat revenue, but I think they're guiding lower on earnings. So they're taking it down. They obviously saw what happened with Netflix over the last couple of weeks. They took them down in earnings. So again, I think earnings are obviously going to paint a bigger picture for us to kind of get us an opinion, a macro opinion of what happens further. Tomorrow, you got Microsoft and the other two big ones in the tech space. You also have Triple M, you have Caterpillar. So again, slowly, but surely Thursday, obviously is the big one. Google, shop, Amazon, Facebook, Twitter, on and on and on. So we're going to get a lot more clues. But again, I really encourage, especially for the newer traders, I really encourage try to go home flat. Like, you know, again, I could be wrong a thousand times every single day. And I am, there's so many different ways I could be wrong, whether it's my opinion, way from my bias, whatever the case may be. You don't care about being wrong theoretically, as long as you're not wrong financially. And I think in this type of environment, like I said today at pre-market, you're going to have your aggressive windows, okay, today's aggressive window literally lasted for about an hour, maybe an hour and a half. And then we have some downside pivots as well. But the most important part is you're going to be faced like we talked about over the weekend, many more stagnant days, just because again, we're only seven days away from the election, stimulus bill is still hanging over our head. We believe that is going to get done and COVID, right? COVID is always out there. What I found that was interesting about today's sell-off but at one point we were down about 9.50 on the Dow Jones. I found what was interesting, there was no really big put buying coming in in the tech space, not at all, okay? A lot of dip buying, a lot of people stepping in, weakness ahead of earnings. But what I found interesting, there was no really aggressive big money flow on the put side of the market. Now again, maybe that means something, maybe that doesn't mean anything, but it was just something that I found kind of interesting into today's sell-off. The good news is the bulls, right? The bulls held the rising support, right? The rising support here 277.77 and we'll talk about the significance of that in a second, but now at least we have a definitive bottom, right? So we have 286 still to the up and we have roughly 276.70 to the bottom. So at least we have again important lines to the upside and lines to the downside. So let's talk about today's pivots. So again, you could see here pre-market, everything I had up was literally to the upside, like literally every single pivot I had to the upside. And the most important part was the question was how many of them were going to get confirmed? Because again, they were all strong charts and how many of these names were going to be confirmed with a lot of aggression? And we got that answer pretty, pretty quickly. So just if we go one down the line online, not everything obviously confirmed, but the ones that did very, very well. So Xilinx 170, 1750 needs to build, as you can see by the chart, it got no way near the 117.50, right? This is a 1750 10 day confirmation that I was looking for. So that didn't confirm Facebook. I took a trade on Facebook. I actually took an 18 cent loss, which is absolutely nothing. I went in ahead of the pivot and you'll notice here, the pivot was 85, 50, 86. I saw there was an aggressive, and this is kind of, I a little bit anticipated the trade, but I saw there was an aggressive seller, right? Off this 85 level. So I figured, they didn't go once, they didn't go twice. If they go through the third time, let me enter the trade. So I entered the trade, it was like 285. I think I got filled 285 a little before the teens. 8506, 8507 average, and it only ran up 20 cents and that seller came right back. And I knew right away, if the seller came back if he wasn't finished, I wanted to be out of the trade. So I took out like an 18, 20 cent loss, not the point of the money. But again, I should have waited to that 85, 86 level. Again, it is what it is. Team never confirmed that 210 level. XS again, only went up a little bit, not a lot at all. Again, very, very thin. So it only rallied up, let me say rally's very loose word. It went from 11th to 11th 40 and really turned around very, very aggressively. But the names that really did well with the names that we were watching, we talked about, and we saw the buyers coming in very, very aggressively. So, so new we covered last night in the video, the weekend update. I liked that setup, 615, 1620. As you guys remember on last night's video, we talked about they were buying stock in the after hours Friday in the 1630. So I knew there were buyers over there. And usually what happens is, if you get a down open, a level that is below what you saw the previous days and after hours, there's a chance to pick them off. So we actually got long at 16. The only reason why we got long at 16 was I saw those buyers coming in very, very aggressively. And it spiked up very aggressively. It took out that 1615 and it traded up all the way up into the 1650s. I made some pretty good sales there. My last piece, I got stopped out breaking but pretty good trade on SOLNO considering what the market did today. Uber never got to 37. Again, here's a perfect example of a strong stock and one it confirmed did incredibly well. And here's my point. The market at some point was down 400 today. If you didn't look at the indexes, you would have swore that the Nasdaq was up 200 points today. Just how aggressive everything was. Frog, 86 sneaky entry, 87 macro needs to build. Again, needs to confirm. Look what frog did. I mean, one of the biggest moves. Congratulations, guys. For all you guys that took the frog. So here is the 86, right? Here was the 86 and not only to confirm 86, it confirmed 87 and it took out the 52 week high of 91 and it went all the way up to 95. Just an insane move by Froggy. Netflix, you know, nice reversal here. Netflix, again, we possibly talked about that in the weekend update as well. Down days, eight days in a row, 490, 491 if it builds, it could finally have a dead cat's bounce day. And the stock exploded. I mean, really, really exploded. Again, got crushed after, but the point was we were watching this thing pre-market and as everything was down, you know, that was down to 300 points. I noticed Netflix was only down like literally a dollar. I mean, that was nothing. So if you see here, here's the whole point here. You see this whole 490 level, right? 490, 491, it took out this whole range here and this thing put up a $7 candle. Great job for all you guys who took Netflix. Roku did the same thing. 225, 50, 226 needs to build, right? Here was Roku, right? So here was Roku, this whole channel here. 225, 50, 26, stock went to almost 230. And again, it's amazing that how much aggression that was actually at the open today considering what the indexes were doing. Now again, this is very, very important that we continue to really drive this point home. Again, keep this in mind guys, we're close to election days. Some days will be painfully slow. And again, I imagine a couple of days this week will be as we get closer to election because of the tight ranges. Make sure to be disciplined, okay? You don't need to trade every single day. Make sure every single trade that you take is a second entry that you do take cash flow and just be an adult about it. So it's the same message every single day until the election. So a huge move on Netflix, perfect naming. And I said, I go, oh my God, I go, look what's going on with beta here as the market's down 400. There's just really, really aggressive moves there. Frog just went nuts literally. I said, oh my God, new highs on Sonu 93, went to 95 on Froggy. And now we're starting to see, here's what my message is kind of midday, incredible upside candles this morning despite the weakness. However, again, we failed to reclaim the 286 level that we spoke about, start looking to the downside channels. And again, here are the two downside channels for the afternoon. Beyond the 167.50, 167, if it builds below can flush. Beyond got absolutely destroyed. So here's the 167.50, right? 167.50, 167, went down to 161.80s. And here is the macro number we talked about, the cues, right? Cues, 280, 20, 280 becomes a huge line in the sand. The 50 day, if bears take control, we can get, it can get hit, it can absolutely get hit. And here were the cues, right? Here were the cues, took down the 280, 20, 280 level, went all the way down to a little under 277. ZM obviously never took the spike back to the upside. And I said, look, take on the way down to lunchtime thoughts, basically what I'm reiterating now, beyond new lows. And yeah, I said 277 is rising support. It got down to 276.75. So some big moves here tomorrow. You know, I don't have a good feel. I really don't have a good feel. I had a good bias for the last three, four days. I think we just have to just wait to see how price action plays out. It's very, very tough to look at a lot of these channels that are in the middle of the range and really come out with an aggressive opinion. Again, it's not about being right. It's about staying out of trouble and being a responsible trader. Guys, have a great night, everybody. God bless, and I'll see you all tomorrow.