 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 the AccessToTrader.com nightly wrap up show. Happy Tuesday. Hope everybody is doing well. Hope everybody had a good day. We'll talk about kind of the levels from yesterday and all that good stuff that we talked about in the video. Hopefully you guys took advantage of those levels, but just a quick announcement. Usually there's no video on Thursday nights. Tomorrow there'll actually be no video and instead I'll record a video on Thursday to kind of switch nights. So just a quick announcement, nothing really crazy. If you are brand new to the channel guys, thank you very much for spending a few minutes with us. Come aboard, right? If you can be so nice, just click a like, click a share, comment, whatever it is, interact, whatever you need. We are here to kind of tackle the markets together via unbiased technical analysis. So let's talk about it, right? A couple of things we knew for the last three days, right? Friday we gapped up, we got rejected at 363, right? Yesterday we gapped up again, got rejected a little bit below 363. So we knew if you watched last night's video, we knew that 363 was going to be an important number, not to kind of get us out of this downtrend because again, we need to still get above the 50-day moving average, but just out of this little baby child to have a kind of a tradable bounce, right? However, we also knew the downside as well, right? And we watched it and we've been talking about this level now for back-to-back days because the market's been trying to get out of this channel here. We knew 363 to the upside and we also knew 357. If you go back to the last two videos, that's all we talked about. 363 to the upside, 357 to the downside. And the point is we're going to be prepared on both sides of the market. We don't know where it's going to go, right? We're not guessers, we're not professional psychics. All we're trying to do is take the data from both sides, wait to see which side confirms, and trade accordingly, right? Trade accordingly with a lot of aggression, with a lot of conviction, and a lot of clarity. And that's the whole point of trading. Stop being right, okay? We were wrong every single day. The point of trading is being prepared that both sides of the market you are prepared for, there are no surprises, there are no levels that randomly just jump in front of your face. You are prepared because damn it, that's what we depend, right? We make sure as professional traders, we put ourselves in a position that we are the hunter, right? We're not the prey and both sides of the market are covered. So we knew going into today that both of those channels are going to be super-duper important. The question was what was going to happen, right? This morning, the future started getting heavier, not really a surprise, but the key was because everything was kind of in the middle of the channels going into today's trading day, can the market get enough weakness, right? Because again, we started pulling through. We were roughly around $3.58 or so on the NASDAQ, on the Qs, pre-market. So we wanted to see can the market get below that $3.57 that we talked about. Obviously it did. Again, we'll get to the individual pivots in a second. I know a lot of people did very, very well today. Congratulations, guys. I'm actually still holding a 10% runner on the Qs overnight. But the point was we started seeing a lot of weakness, right? Even names like NVIDIA, there was a bright shining star yesterday. Stock actually went green on a day at one point. Didn't take out the previous day's range. And that was kind of the tell-tale sign. You're starting seeing jolts. Job numbers come out at 10 o'clock. That wasn't really a good thing for the market as well. So the most important part is we got hit today, right? We got hit today pretty aggressively. When I mean we, I mean the market because I'll show you the pivots in a second. Pretty damn good, right? Pretty damn good. So the Dow Jones goes down 1.2%, almost 1.3% of the day or 430 points. And what does that do? It erases. Think about where we are, guys. We aren't in October. It erases the 2023 gains for the year. It's a pretty big message, right? It's a pretty big message. S&P 500 down about 1.4%. NASDAQ got hit pretty aggressively today. As you can imagine, any growth story came out, got absolutely killed. NASDAQ at one point was down way over 2%. It closed down 1.87%. And all these groups that we've been talking about for days and days and days and now it feels like weeks and weeks and weeks, right? The retailers of the world, the consumer cyclicals of the world, the soft drink makers of the world, like the soft drink makers of the world. Anything, right? Anything, you know, about, you know, Colgate Palma. But anything, anything to do with consumer continues to get hit. And that's a very, very big deal. It's not the first time we're talking about it. We're talking about literally now every video because it shows the rotation out of money outflow out of all these groups. And that's what they just continuously drifting, drifting, drifting. But the point is here in the bigger picture is what happens to techs and the tech. And now that we've closed below the five-day moving average, and that's what we were talking about yesterday. Now, if you, again, if you believe in the theory of stocks trade from support to support and supply to supply, well, here's our next support, right? Here's our next support at 351. Now, keep this in mind. The market get killed today, okay? The market doesn't have to die tomorrow. It'd be nice because, again, I still have a whole bunch of things on, but it doesn't have to, right? It absolutely doesn't have to. We could definitely have, well, and definitely have. We could possibly have a kind of an inside date tomorrow, maybe a little relief rally, whatever the case may be. But having said that, the longer we now stay below 357, below the five-day moving average, that means the bears are building a new ceiling, right? They're building a new supply area that the bulls are going to need to reclaim. Again, bad enough we lost the 50, bad enough we lost 100, 150. Now we're below the five. And again, the five, as they said in the previous two videos, that's the shortest-term indicator we have. And again, if the bulls start really losing today's channels, we could test back to the September 27th lows and ultimately have a soft landing here somewhere around 349, 349, 349.5 area there on the QQQs. If you look at the SPX, we talked about a couple of days ago the importance of it losing the 4,300 area, right? That also gave back the 150-day moving average. And again, it went down to 4,210. It looks like a soft landing here, roughly around the 4,201, 4,182 level if the market continues to pull. You look at the IWM, again, this balloon has been popped a long time ago, right? This really shows speculation money. Speculation money has been out the window for a very, very long time here ever since the move, losing the first 50-day moving average in August. We are really, really, well, not really, but IWM has really, really hit here as well. And just to foremention, Dow Jones Industrial Average goes red for the year. So again, not a pretty picture, not a pretty picture at all. But again, this is what we always talk about for new traders. The faster you learn and really appreciate both sides of the market, the faster you will become a professional trader. Guys, it's so easy to have a rabid bull market that everything goes up every single day. It doesn't take a lot of skill set. It really doesn't. It doesn't take a lot of skill set. It doesn't take a lot of strategy. You buy a stock that's breaking out, it'll probably be higher two weeks from now. That's what it is. When you have a market that has inflation issues, technical damage, jobs on clarity, future on clarity, you have an election coming up in 2024, you got to learn how to trade both sides of the market. And again, I don't understand the whole theory of, well, I don't short stocks. Well, why? Why don't you short stocks? It's the same thing as buying a stock. You're just betting it's going to go lower. I get it. If you've never shorted a stock and it's a new thing to you, I get it. It's scary. But isn't everything you do for the first time scary? Right? Isn't getting behind a wheel of a car at 16 years old, 17 years old scary? Isn't the first time you, right? Wasn't a little scary? I want to try to keep it PG. That's why I didn't say the word. But more important is life is all about challenges, right? Life is all about challenges. Life is all about adversity and getting over fears and doing things that are outside of your comfort zone. But the point is like I've been saying this for years, God gave you two hands, right? Two eyes, two ears, two feet. You've got to treat both sides of the market. Leg into it one share of the time, three shares of the time, 50 shares of the time, 200 shares of the time, whatever the case may be. But if you're, again, you have to ask yourself a question and go in front of the mirror and ask yourself a question. Do I want to be a professional trader or do I want to be a person who buys stocks in the bull market? It's okay if that is the latter. But again, you can just sit there week after week, day after day talking about cash as a position. It's not, right? It's an excuse. And again, if the market continues to go lower and lower and lower, I mean, how long can you afford to sit with quote unquote cash as a position? What happens if this turns back into 2022 and we're down 35, 38% for the year, whatever it was for the Nasdaq 100? Again, you have to, whatever game you play, you have to know the rules. If you play chess, you have to understand the pawns are a little bit different than the bishop, a little bit of the knight. If you play basketball, you have to know the difference between a foul shot and a three pointer. There's rules to this game, right? And unless you know in master, you know, as best of your ability, all the rules of the game, you are always going to be behind the eight ball. And unfortunately that is reality. How to make this up is just the reality for years and years and years. When I used to trade prop and I used to trade a car on equities, I saw hundreds of hundreds of traders go in the revolving door, go out the revolving door. Because again, they're so set in their ways and they want the market. They want the market that best fits their personality, their lifestyle, their experience level. Unfortunately, life's not fair. Like I said, trading is not fair. The market's going to do what it has to do, not what it wants to do. And you have to be really mature to really understand that. So let's talk about the pivots, right? Let's talk about the pivots today. So we started the day in the middle of the ranges. And again, if you've been watching these videos, guys, and this is always why we talk about, I always try to give you guys the prices on the QQQs, because again, it's a little bit of a thank you for tuning in. We knew yesterday, 363 was the big number to the upside in the Qs. 357 is the five-day. If it builds below, we can flush. Yes, we flush. A 2% move on the QQQs just to give you an idea how aggressive this was on the five-minute view. Here was 57. You see it? Here was 57. Look at this sell-off. Just an absolute amazing sell-off on down to 53 and change. Like I said, we could have an inside day tomorrow or very possible, but the longer we sit now below the five-day moving average, the higher probability we get back to the bottom of the range of September lows. I put some pivots to the upside. Just in case we rally, we obviously didn't. So Amazon is irrelevant. Microsoft is irrelevant. Google is irrelevant. And here are some short bases here. Airbnb, 132.17. If it builds below, it can flush. Got downgraded this morning. Here is Airbnb. Here is the five-minute view of Airbnb just to give you an idea. So it got downgraded. Once it lost that 32-level stock, I just got absolutely hosed. Went down all the way down to 126 and change. Big move there as well. Tesla didn't confirm up. Tesla didn't confirm down. Like a lot of names. Carvana, 38.25 held twice in the last three days if it builds below can flush. Here was Carvana. So it took out the 38.25. Went all the way down to 36 and change. Nice move there. Tesla, yeah, Tesla, it went lower, right? Tesla took out 46, went to 44, but it was the same candle. So I didn't take the short there. CLVT, so I started a position in CLVT yesterday. You guys know I love these earnings low plays. So I started it yesterday, right? I started it yesterday on this engulfing candle here. So I started it yesterday at 670. Today it took out the 640 level and closed at 620. This thing looks lower here. So here is the here. The 668 if it builds below can flush to test 641. And again, here is their notes. Any close below 641 starts the next leg down. Just as gorgeous, we would close at the lows of the day at 620. This thing looks lower. Cues, yeah. So basically what happened was so everyone get down to 25% to the 3550s, 3470s are target for the day. It hit the 3470 target. Then kind of a, we kind of switched up the game plan a little bit here. I go change your plans, get down to 10% in 3470s. Who knows, maybe we go lower for another few points. Actually went down for another couple of points and we're still holding the 10% move. I've been sitting in a lot of names, man, for the last several weeks. Again, Cargill. Cargill is finally starting to crack here. So I've been short this thing from 1750 for a month. I'd finally cracked today. It's finally covered some below 17. If this thing could just lose its 1690s, I still think there's a shot we get to 1624. MG and I, man, this is another one. I've been short for several weeks. I'm just waiting for this damn thing to crack. I'm short at 740. It's at 730. Just doesn't want to crack. Maybe this damn thing finally cracks in the next couple of days. Gets down to 7. Let's see. A good year tire. A good year tire finally cracked here. I've been sitting this thing now for about a week. I went back to 12. This thing just needs to lose this 1190s to get hit here. And the only one that's not working right now is Donut. Donut, Dunkin Donuts, Krispy Kreme Donuts. I'm down about, you know, I'm down about 1213 cents in it, but they came out some news they might consider spinning off one of their divisions, but I'm just waiting for that crack here. It keeps on getting rejected here in the 10-day moving average. I'll sit in this thing until it starts reclaiming the 10-day moving average on the close. So that's it, guys. That's it. A very aggressive day. I'm very, very happy that a lot of you guys especially watched the broadcasts were able to capitalize, especially on the cues. If you want to learn more about PIVOTS and the PS60 theory again, we are live six, five days a week. I am literally speaking for six hours a day. It's nearly 25 years of live market commentary. There's no voodoo. There's no editing. It's live PIVOTS. That's all it is. If you are curious about PIVOTS, guys, again, take a shot, 30 days, kick the tire, see if it's a good fit for you. Guys, God bless everybody again. Just a reminder, tomorrow there is no video. So instead, there'll be one on Thursday. Stay blessed, everybody. I will see you all tomorrow.