 The point is the structure definitely came back today. I'd like that, I'd like the fact that the semiconductors reclaim leadership that's very, very positive. The one thing I don't like is, again, we are still in a very, very fresh. 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, happy Monday everybody. Welcome to another edition of the Access a Trader dot com Monday show, right? Hopefully everybody had a good trading session. So let's talk about it. Let's rewind it back to last week. Most people were off Wednesday ahead of Thanksgiving and obviously Friday the day after Thanksgiving. And that's where kind of the headlines started coming in, right? All these, the new variant. It sounds like micron. I forgot the name of the damn variant now, but I think it's called all micron. But more important was that the exaggerated reaction that the markets got hit with it. That was down 900 points or so, you know, pretty, pretty aggressive sell off in the NASDAQ as well. And the key was the more I kept on thinking about Friday's session, especially when I was recording the video over the weekend, I kept on reminding myself over and over again. I tried to kind of try to pass that message along that I don't believe it. I didn't believe that the market, the true market was Friday. Okay, there was nobody around to defend prices. I think we're still in a spin cycle of news, which is very, very scary to most. And that's why it's kind of a knee-jerk reaction, shoot first, ask questions later. And that's exactly what I think could happen on Friday's session. And the most important part kind of going into this weekend, going into Monday's session, today's session was, well, I think cooler heads are going to prevail. We just needed more information. We needed more data. And all the information that came out from, you know, Sunday into the early parts of the pre-market this morning and starting in the 8 o'clock, 9 o'clock hour is we kept on hearing and reiterating the point from different avenues, especially the World Health Organization, especially from Fauci and everything in between was, this is something that is, you know, very, very, what's the word I'm looking for? It's transmittable, right, more aggressive than some of the other strains, but it's not something that's so exotic that it's going to lead to complete Armageddon. And I think that was the point. I think that's where the bulls kind of took a big deep breath, kind of a sigh of relief. And, you know, we started moving higher. And the Dow recovered, you know, basically about a third, a little bit less than a third of its losses from Friday. The Qs reclaimed the five and the 10-day moving average. Did everything rally? No, I don't think everything rallied. I don't think everything reclaimed, but I kind of like what the bulls did. It was more of when they talked about a relief rally, it was literally a relief rally, both figuratively and literally just because it wasn't an exotic strain. Now, again, this is a very fluid situation. Can we get headlines today at some point after the close? By the way, we just got our first case in Bismarck, North Dakota, and all of a sudden the futures gapped down a thousand points. It's very, very possible. So the wound is still fresh. If you guys remember when Delta came back, well, when Delta was introduced, it was two, three days of uncertainty, right? The market would go down and then the buyers would come in. The market would then again go down and then the buyers came in. It was more like, let's see how much information we can get, digest, and live with until the natural forms of the market. And that's exactly what happened with today's trading day. I think, again, levels of coolness kind of hit the trading desk. If you look at the options market, there wasn't tremendous amount of option activity. It wasn't like two weeks ago that they're going out and buying ridiculous out-of-the-money calls on different asset classes, but you could clearly see the groups that were standing out. Semiconductors definitely led the way higher today. Big, big move. They got hit all of last week into the rising 20-day support on Friday, and today recovered everything. We literally engulfed three days' worth of selling in half the bar from the reversal day on Tuesdays. It was very, very bullish. And if you look at a lot of the semiconductors, you could see the usual suspects led the way. And the video is strong. AMD, very, very strong. You can look at all of them. Qualcomm, excuse me, Qualcomm, LAM Research, LRCX, all of them. They did very, very well. And that definitely paced the bull market, especially in the technology space, higher. Was there a lot of names that got rejected off their 10-day shirt? Absolutely. There was a lot of names that fell short of reclaiming, like a Facebook, like an Apple. They all got rejected. Like a Microsoft, they all got rejected. Again, I like what the bulls did. Amazon got rejected as well off the five-day moving average. So you could look at this day as glass half full. But again, what I said a few minutes ago, I still think this is an early wound. Friday was an early wound. I don't think it was a severed head, but it was an early wound. I like the fact that the bulls kind of recovered today, especially from the psychological point of view that we could, hey, we could get a very aggressive body blow still recovering and go higher. But I don't think we're out of the woods. I don't. I don't think we're out of the woods. I don't think for a second right now we're in a risk on environment. So basically, Tesla was very, very strong today. But I just, I can't take it overnight, right? Not yet, right? Not yet. Just because again, if any fresh news comes out, you're looking at 25 points back down on Tesla. This Tesla's chart looks great for tomorrow. Absolutely. I think Tesla did a wonderful job today. Tesla reclaimed the five to 10 confirmed the November 24th highs. You did see plenty of deep out-of-the-money, weekly 1200 call buyers. So that's bullish, right? That's absolutely bullish. NVIDIA had some really great flow as well today. You saw today the 130, the 135, excuse me, the 340 to 345 calls as well. So there's definitely good flow. But I do believe we still need a couple of more days to kind of get our feet back. When I mean we, I mean literally the bulls, right? The bulls that's trading for optimism into a fourth quarter rally. I still think we need to see a little bit more information going into tomorrow's session. Because again, if we come in tomorrow and the futures are down, you know, Nasdaq futures are down 200 points, everything that happened today was completely irrelevant, right? It's going to be very, very tough to get one body blow, two body blow. And the next one, the elbow, you know, elbow right into the temple. We don't want that. So we want a little bit more information. I definitely like the continuation tomorrow from the semiconductors, especially names like a Qualcomm, like in the NVIDIA, like a name like AMD as well. You know, they look good. They definitely look good. Tesla for tomorrow, unless we, you know, get some crazy bad news overnight. Yeah, I mean, Tesla looks good. You know, Tesla does look good. Like I mentioned, it confirmed a lot of good levels. You know, definitely dips. If you look how orderly Tesla traded today into rising support, you'll see how clean, and this is kind of what we talked about on the weekend video, market structure, right? We need market structure. Stocks just can't stop randomly and go up and down. You know, if you look at here, stock gapped up, right? Stock gapped up. Every time it hit rising support, it rallied. Hit rising support rallied, rising support rallied. So the point is the structure definitely came back today. I'd like that. I'd like the fact that the semiconductors reclaim leadership that's very, very positive. The one thing I don't like is, again, we are still in a very, very fresh spin cycle. Wall Street doesn't like uncertainty. I didn't see a big macro universe, big bets today out of the money on the short-term expiration for a lot of names. But the most important thing is we did take a good step forward. We did embrace a body blow. And let's see, like I might say, let's see. Let's see the bulls do it again. So going into tomorrow, you know, I like some, you know, I definitely like some longs. I definitely like some shorts. One of the, again, my favorite play has been recently, has been these earnings lows. They've just been really good plays. If you guys just remember, I just saw the last couple of weeks, you know, Fubu took out earnings low is again, multiple week fade. Zillow was a great, it's still a great move. Everybody should be down basically to the last 5%, 10%. But the point is, you know, this thing confirmed the earnings lows at 63 dollars and it's just drifting for two weeks now, literally drifting. And we talked about Best Buy. You know, I went to Best Buy on Sunday. I bought my son a television. That place was empty. And again, it just, it was a coincidence, pure coincidence that this was on our watch list for the weekend. But the store was empty. I mean, it really was empty. I was there and my wife was around noon. As much inventory as possible. Everything is cheap as hell. And again, you could see the performance of the earnings and obviously the confirmation earnings lows. And again, I think, I still think, I still think this thing has a legitimate shot of filling in this whole gap all the way down to the October first lows. Also, you know, I like when it got hit pretty aggressively on potential, you know, on potential of any closures or, you know, in the futures. It couldn't rally at all today. You know, if this thing starts losing this bottom channel here in the next few days, I think this thing goes lower as well. You know, look at a name like Crowd. I know they report in a couple of days. But, you know, just as a pure day trade for tomorrow, if it finally confirms its bottom channel, we can get a move lower as well. And on the flip side, again, I like Tesla. I like NVIDIA. I like Qualcomm. Look at CLAC. CLAC looks good as well. Right? Look at CLAC. You know, very, very close. Another semiconductor name that closed right on the 10-day moving average. If it confirms and the semis have a day to run, this thing can get moving higher as well. So going into tomorrow, I want to give the Bulls the benefit of the doubt. But again, I still know, just from my experience for the last 22 years, I still know what a fresh wound headline feels like, smells like. And I want to be a little bit more cautionary tomorrow, especially if Bulls can't confirm Tay's channel. So let's talk about Tay's pinnets. Again, not a lot. It did feel like I was definitely prepared for the short side. We definitely had some plays I liked in the long side. But again, today felt like a first round, actually excuse me, a second round after a prize fighter got knocked down in the first, right? He was trying to get their feet onto them, trying to get his senses above them, throwing a lot of jabs, doing a lot of dips, doing a lot of dives, kind of going around the ring. And that felt like today, most of the day. And I think today was kind of a good thing because I think a lot of the market participants did the heavy work, heavy lifting for us. These things do start confirming tomorrow. You'll see a lot of the selling pressure that was inundated with a lot of names today, kind of getting out the way. So let's talk about today's session. This is still an active play. Everybody should be down to about 20, 25%. But 1350, 1350, 13, if it builds below, can get hit. BBY traded down to, all the way down to 110. I still think this thing goes lower. Once this thing starts building below 109, I do believe this thing goes to 101. So this thing goes lower. Donut, crispy team, cream never confirmed. Car, it went to like 317, but it went from like 300 to 306 pre-market. I doubt very much anybody traded it. Clack never got to 397. Microsoft obviously never got to 328. This was the initial pivot to the upside of NVIDIA. Initial cashflow of 324 needs to build. The first move was to like 326. You can see here, the initial move was like the 326, 326, 327. It was a later pivot. I'll show you that in a second. They got the stock going more, but a nice little pop on that. And again, here's my point here. Let's stay patient this morning. Let's see the initial noise die down. I should get plenty of clarity after 10 o'clock. And again, that was the whole point from Friday's, Friday's sell-off. Again, here's BBY. Take some on the way down. Again, we don't work for free. I went down about three and a half $4. Nice move there. You know, stock, here's the next two areas of support. 1060's went down to 1030. This is what I mean by 109 is the last area and I think the stock gets really, really hit. NVIDIA weekly 335 buyers, they're coming in pretty aggressively. Any close over 329 confirms daily. And NVIDIA went pretty aggressively in the afternoon. It took out this whole 329 level pretty much closed at the highs of the day at 334. It still looks much, much higher. NVIDIA take on the way up. Good flow there as well. So yeah, I do believe today's session was very, very productive. Not a lot of pivots just because, again, there's a lot of stocks that looked really, really bad coming into today. And they needed today to kind of just to get their, you know, head above water. So now that they're above water, well, let's see if they can live with prosperity. So going into tomorrow, yeah, I'm kind of dealt the neutral, a little bit bull biased, but I would not be shocked if some crazy headline would hit overnight. And the next thing you know, everything that we saw on Friday, you know, is kind of into fruition come Monday, come tomorrow morning. We'll see. We'll see. Hopefully there will be no fresh headlines to get the market jitters. We could kind of build on today's rally. Guys, have a nice, good night. We'll see you all tomorrow. Take care.