 Reclaim the 50 day, just like we did here, had a four day run, just like we had here, right? 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. My apologies, there was no video last night. My wife was staying out of town for one more evening. So I had both kids, way too many things going on with only one parent, two kids as you could all imagine. So I apologize for that. So just like always guys, again, we really, really appreciate your support of the channel. If you haven't done so, please like. And if you haven't subscribed yet, that would be cool as well. Just a quick note of business. If you were considering, you know, seeing if pivots are for you, this is a great time of the year to kind of come into the webinar, kick the tire, see if this is for you. Again, it's not for everybody. Trading pivots is a very, very specific way of trading. And again, not every single person is going to fit that bill. But if you are considering it, just a reminder, there's no better time. We've got three days left. Canyon Salo is going to have an amazing, amazing presentation from the keynote address for the Trading Bucket Life, which is going to be absolutely awesome. If you don't know who Canyon is, just Google him, man. Just YouTube him, see exactly what it is. He speaks in front of Fortune 500 companies and he's going to make you feel really good about yourself and try to unlock your potential. So that is Saturday, I believe 11 o'clock Eastern time. It's going to be an awesome, awesome event. So hopefully I'll see a lot of you guys there. So let's talk about the tape, right? Let's talk about the tape. So we had this really great rally, right? Really great rally. The CPI reversed everything. We reclaimed the 50-day moving average. Again, if you've been watching these videos for a long time, you kind of know the importance of the 50-day moving average. And we had a great run, right? And here's where I kind of, I always want to introduce technical analysis to newer traders by using the eyeball test first. So we kind of want to go back a little bit. So the last time, the last time we reclaimed the 50-day moving average was right here. See July 18th, right? First close over the 50-day moving average. And what happened was we had a four-day rally and the market got tired because again, needed to digest its gains, came in, touched the five-day moving average. The next day took it out and retested the 50-day moving average. The bulls held. They trapped late shorts because that was the whole point. Reclaiming the 50-day moving average, trapped late shorts and had this wonderful, wonderful rally for the next month and a half, right? That's the visual, okay? Even if you don't know what anything means, if you don't know what any moving averages or supply zone or demand zones or linear regression line or Bollinger Bands or anything, anything to that sort, you have eyeballs. So that's kind of the first thing, right? Four days up, consolidation, rest, very important, lost the five-day, came back to the 50-day, held and in a rally. So let's fast forward, right? Let's fast forward where we are now, right? Take, again, take a snapshot, right guys? Sometimes if you're like me, you need to look at information, look at data like 10 times over. Some people have great photographic memories. I'm not one of them. So it takes me a longer time to kind of really embrace information. So we had this four-day run, three-day sell-off, trapped, right? Held, rally. So here we are again, right? Reclaimed the 50-day just like we did here. Had the four-day run, just like we had here, right? You had your first move into the, had your first move into the five-day, right? You see it right here? First move into the five-day, next day it took it out and went lower, and that's exactly where we are today, right? The only difference between the last time we reclaimed the 50-day moving average and the, you know, this present time when we reclaimed the 50-day moving average, this present time had a 10% move in three days. If you told me four, 5% in three days, I would say, wow, that's a lot. 10% is ridiculous, it's cartoonish-like. And we've, if you watched the video, not yesterday, we'd have a video say from the night before, I said, the market needs a rest. It needs an organic rest. Take a deep breath, right? Take a deep breath, you know, let's, let's, you know, let's firmly get our feet under us. Let's take a deep breath and let's see, you know, how many days we can consolidate, back test, trap. Let's see if we can have the same act too, like we did right over here and start moving forward towards Thanksgiving and into the end of the year. So that's kind of where we are. So when we came into today, you know, we had a very specific plan today in the webinar. We were gonna look for channels that are coming off the bottom of the range. I didn't want anything. Again, you need to digest the 10% move. You can't just go straight up. That's kind of the thoughts we were echoing on, what were they, on Monday's video, you can't go straight up. The market needs an organic rest. That's exactly what we got today. And if you look at the quote unquote catalyst, why the market went lower, you had micron guiding lower, right? You had micron guiding lower, which is not crazy because every semiconductor is guiding lower, right? Sometimes they just go lower on bad news. Target was a little bit of a surprise, but not shocking. Target got hit really, really aggressively today. Again, the economy's not great as much as they try to tell you everything's okay and we don't know what a recession is. We heard the word, we don't know what it is. Again, Target is feeling it. A lot of people around the country are feeling it. So yes, it is real. People are not spending money. And that's kind of what we saw a couple of months ago, the consumer cyclicals, right? The Cokes, the Pepsi's, the Gillettes, the Procter & Gamble's, the everyday things that people use in our lives, they were getting hit as well. Again, showing the lack of retail buying on Main Street. So if you looked at that and you saw how the semiconductors react and we'll get to Nvidia in a second, right? You would think that the Dow, especially after that really, really aggressive move just in the last three days would get absolutely get murdered and guess what, not even close. The Dow was flat, point down 0.1%. The S&P after a really big run was down 8th, 10th of a percent and the Nasdaq that was up 10% in three days only gave back 1.5% for the day, which is absolutely amazing. Because think about it, you're still 8.5% net net from three days ago, which is absolutely amazing. In a perfect world, right? In an absolutely perfect world, what's gonna happen tomorrow is the same thing that happened on, let's see what day is that, on July the 22nd. You see this candle here? Hold on, let me just show you guys. I wanna show everybody a visual so you can get a nice visual. You see this candle here, right? You see how it touched the orange line and then next day it took it out, went lower and obviously the next day it took it out, went lower. So here's what, here we are, right? We have exactly the same thing. This orange line represents the five day moving average. Again, if you're a first time viewer, welcome aboard. But if you're a first time viewer, not many people trade off the five day moving average. I do, it represents shortest term sentiment. It doesn't mean we're going back to the lows of the day. We're not, excuse me, the 52 week lows. So it doesn't mean we're gonna have arm again. All we're looking for is a healthy back test just the same way we did in the summer. So if we can confirm this channel here, wait, you know, because again, in a perfect world we would come back into the 50 day and hold there, right? Light volume, come back to the 50 day, hold there, trap and start going back again. So the only thing we're looking for is kind of a tradable area till the stocks kind of reset, right? Come back to where it all started from, like I said before, trap and then start going upwards and onwards into the end of the fiscal year. So that's kind of what's on top. So today, played out pretty good. Okay, played out pretty well. There really wasn't anything that I wanted to buy. We also talked about that you're not gonna get any massacres today. And if you see the pivots, you'll understand why. You know, again, when you are below supply, right? Like so for example, we were below here, the 50 day moving average, you got selling pressure, you got fear, you got aggression, you got liquidation, you got margin calls. You have all this stuff that is not good for equity prices. When you're above the 50 day and the market comes in, right? There's a difference between the market going lower and the market coming down from recent, recent highs. This is just an orderly, really good, deserved back test for the bulls. So if we can get a move down here, it would be absolutely perfect. So as you can imagine today, all the pivots that confirmed, there was no panic, but there was some pretty good orderly moves down. And if we can get one more day, right? Just one more day of selling, coming into the 50 day moving average, possibly even get long on the remount of the 50 day moving average, would be absolutely perfect. The only problem is, we don't live in a perfect world. So I can see any scenario tomorrow at all, maybe go up, maybe go down. But the point is, I would like to see one more day of selling. And if they do confirm the five day moving average, where in my book is pretty important, I think we could get a little bit more aggressive moves back to the downside. So we'll see. So if you look at all charts today, they look exactly the same. Every single chart looks exactly the same. They mirror the cues, right? They held the five day. If you look at the spies, right? They mirror the five day. It's the same thing, but look at the spies. If the spies start taking down this level, and write this level down, guys, right? I'm gonna give you guys specific levels here on the spies and specific level on the cues. Watch the spies tomorrow, right? You see today's low, 394.79. You see the previous channels low, 394.50, right? Previous day. If we could lose this 394.50, 394, then yes. I think we do get another day of a potential back test, light volume, no fear. But only we're looking for is just take advantage of both sides of the market before the market hopefully resumes its next leg up. And if you look at the cues, right? You got the same thing, right? Look at the bottom of the channel here. If the cues start losing, right? Today's low is 84.60. This channel's low is 84.44. You see it? So if the cues start losing this 284 level, yeah. Then I think we could get a little bit more of an exaggerated look. So that's it. That's kind of what we're set up for going into tomorrow's session. You don't have to be very, very creative. Take any stock that closed on its five day or its 10 day moving average and just wait for it to confirm down tomorrow. If it doesn't confirm down, then you know we're going back higher. If not, well, we're gonna go lower. And that's kind of the whole point. Healthy, right? Healthy aggression, trading both sides of the market with an unbiased opinion and just letting price action dictate to us. We talked about this on Monday how the market needs a couple of days of rest. That's exactly what we're getting here. We're just trying to get a couple of days of rest. And with everything, right? Cross your fingers, cross your toes and anything else you wanna cross. If we could just get one more day, I think tomorrow could be a little bit more exaggerated than today's session. So let's talk about the channels today to the downside, Tesla, right? We had a two-sided trade. And again, that's the whole point of the PS60 theory guys. It's the whole point of trading pivots. We don't care which way, right? We don't care because these stocks trade in such a large average range it doesn't make a difference to us which way the market goes. So we have a two-sided scenario here. Two-sided scenario, 201 to long side. Obviously that didn't happen, 192 and 186. It took out 192, traded all the way down just a little bit below 186. Really nice move, really nice organic move. There was no shakes whatsoever. Matter of fact, you look at the 60 minute view, right? Look how orderly this was, right? Once it took out that 92, look how orderly this move was. Like so orderly, very, very rare. But again, that's a good thing. That's not a bad thing. That's something that you can control. Here's where Tesla could get aggressive. You guys remember on Monday, there was a lot of buyers that came in for the 180 and the 175 weeklies, including one guy who put a million dollars on the 180 weekly premium. We'll see, right? So watch this bottom channel here. This thing starts taking down this bottom channel here. We had stopped twice in a row. If it starts taking down this bottom channel, Tesla could roll over. So let's definitely, definitely keep an eye on that as well and keep this in mind. Tesla was the only stock that did not muster a rally when the cues reclaimed the 50 day moving area. Something very, very important. Sometimes common sense wakes out. Whatever doesn't go up, must go, right? Exactly. So Amazon 9730, 97 if it builds below can flush. Again, not a monster move because you're not going to get any fear, but it did what it had to do, right? It lost its little range here. It lost that 9730, 97 area. Got down to this 9550s. And if it starts losing 9550s, there is some room into the 93s for the 10 day. Again, we're watching this thing for a potential continuation. Zoom, dog never came close to 87. Zoom got downgraded, never getting close to 90. First solar, nice little move off the hot, into the open. 160, 60 rejected twice, needs to build. Took out the 60, took out the 61, 65 and traded to like 63. Nice move before it rolled over. And again, here's the whole point. Here's not a scenario that we talked about. Q's 286 held yesterday's channel. If it builds below, can watch some, right? It wasn't the point of, hey, watch the Q's. If they lose that 87 level, they're gonna get murder. No, it's not a murder. We're above the 50 day moving average. This is orderly profit taking. Some digestion, that's some distribution. So we could get some sort of wash, right? So here's the 86 on the Q's, right? So here's the 86 on the Q's. So it took out the 86 and went all the way down to 84.60. Again, like I said, not a massive move, but it's not designed. Today was not designed to be massive. Tomorrow, if they could confirm, then we have a little bit more potential for expansion and you have a lot more room than we did today. And that's the whole point of let's see if it does confirm for one more day of selling. Again, fingers crossed. We'll see what happens there. Microsoft still, I still like it, still didn't get to those levels. We'll still watch this thing for tomorrow. And that is it. And remember, remember the golden rule. You don't need to trade 200 of these stocks. There's something that we always talk about in the webinar. We call it yono, right? You've heard of FOMO, the fear of missing out, or YOLO. You only live once. Well, we have yono, right? It's you only need one. And that's the whole point. Beta names, if they could start expanding $2, $3, $4, there is a wonderful, wonderful opportunity. And again, it's not how many you trade. It's how many you trade properly. So that's it, guys. So that's it. Again, we have three days left till Kenyon's amazing trading bucket list keynote address. I hope to see a lot of you guys there. It's gonna really, really help your soul. And that's the most important part, being happy and in control. Guys, God bless. I'll see you all tomorrow. Take care.