 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. Hope everybody is having a great day. Hope everybody had a great weekend. For all you guys who live in New Jersey, it is like the end of the world outside. When I looked at my app, it started getting darker and darker. It was like 30% chance of rain. I think one of my floaties went three houses, one literally three houses, so I have to go get that later, but crazy outside, crazy weather. So let's talk about the market, right? So if you watched the weekend update, we were kind of prepared for a dead cat bounce, right? Whether it was going to be today or it was going to be tomorrow. And the reason why we talked about that, there was this little baby hammer, right? Again, if you study or ever study the earliest parts of like Japanese candlesticks, you know that a hammer is the most basic thing as being bullish. So you got a hammer is bullish and you got an inverted hammer. We're going to show you inverted hammer, blah, blah, blah, blah, blah. Inverted hammer is bearish, right? Now the next day it doesn't have to translate that way, but that's usually kind of the thing that's happening. So the one thing that I did notice today pre-market was that even though the NASDAQ was down 80 handles and the Dow Jones was down about 200 handles, what we talked about at Morning Strategy was that nothing was down this morning. If you look at stocks were down, like every stock was down like 50 cents, a dollar or so, and pre-market Netflix, right? Got an upgrade and it was up like eight bucks, right? So you had one of these scenarios and I was like, well, you know, we're getting the little debt. Let's see if we get this little dead cab bounce today. Let's see how everything plays out. The problem with the dead cab bounce, and I kind of, if you just want a little more detail, what we talked about on the weekend video, a bounce is a bounce, right? We don't know how aggressive a bounce could be. 50 cents, $5, $3, $20, we don't know. And that's why you're just trading the stock on a bounce is super-duper hard. And what you're trying to do is look for daily charts, right? And we highlighted daily charts, four daily charts on the weekend video that I believed, hey, if the market was going to rally instead of trying to do a dead cab bounce on an Apple or Rivian or some Microsoft, whatever the case may be, let's find at least the names that look good, right? That actually look good. And Netflix, the problem with Netflix was it gapped up eight bucks. And the last thing you want to do, and again, you can see this right here, the last thing you want to do, right? This is the pre-market highs, right? The last thing you want to do is chase a gap-and-go in a market scenario that's underneath the 50-day moving average and look what happened next. Not only did the stock fail that gap-and-go, it went from literally $248 all the way down to $235, right? It's a very, very important lesson. Never gap-and-go a market that's in a bearish scenario. It's very, very rare that you're going to get something that we want. So this was kind of out of the table. The other two names that we talked about last night in the video was First Solar, right? It was First Solar. We talked about this 36 and a half level, right? It finally broke above this 36 and a half level, went to 38. I still like this thing above 38. I think there's a shot if it starts breaking, start building 38 and get to 40. So we liked First Solar. It was definitely one of the names we were watching. And ENPH was another name, but it didn't quite get there, right? It didn't quite get to this 23, 25 area. So the last one, logically, that was in play was... So the craziest part about trading, and I've said this for years and years and years, you don't need many charts, right? You don't need many plays. The greatest thing about trading the high beta names, right? The technology names that has the greatest amount of average range that if one lights fire, right? If one confirms and you get the options market, the betting relentlessly in that direction with short-term expiration, usually something good happens, right? And that's the name of the game. And today we saw right from the word go when the stock was trading in the 303s, right from the word go, we started seeing 310 weeklies, 315 weeklies, one after another. And they weren't coming for 20,000, 6,000, 3,000. They were coming for several hundred thousand. One guy even came in for the 1.1 million of the October 330s. This guy, he's not even betting this week. He's betting the 330 calls in this linear regression line. He's anticipating a move there. But more all the stories over and over and over again, we kept on seeing the same thing. And the most important part of when you're trading a stock and you try to dissect something technically, right? You need the stock to take out the previous day's channel, right? And start building on the previous day's highs. That's a check, right? That's a check mark. It started taking out this 30371 level. Then you need relentless option flow, short-term expiration. Check, check, right? We got that. We got that as well. And then we needed to take out the previous day's channel, the previous week's channel. And that's exactly what it did here off this 309 level. And at certain points of the day, they really started betting heavy, guys. Keep an eye on this. They really started betting heavy for the October 330 calls. It makes sense chart-wise, right? You see this linear regression line? It's 330. But before it gets to 330, I do believe it needs to take out this whole range here, right? If you look at this whole range here, it's a pretty long range. It started out. I'm not even going to go back to here. It started out on August the 4th. So you're talking about a month and a half range. And who knows? Maybe it takes it out. Maybe it doesn't. But if we do have another day of buying, right? I don't want to use the word rally. We're not rallying. We're below the 50-day moving average. But if we could get another day of upward bias, right? Buying pressure. Well, why can't Tesla attack the top of the range here, right? And if it closes up the top of the range, then you have a measured potential going to this 330 level. And this is why this top of the channel here in the next couple of days is going to be absolutely important. The one thing we want to definitely keep an eye, if there is any type of weakness tomorrow on Tesla, let's keep an eye on if they do start coming for deep out-of-the-money calls with short-term expiration into weakness. That's also a great, great sign to see that as strength. But this one's on tap, right? This one is definitely on tap, ready to go. And look, you're not going to get a lot of names. And again, going into tomorrow's session, again, we had a pretty decent bounce on NASDAQ, 7.10 of a percent, Dow, 6.10 of a percent, S&P, 7.10 of a percent. Again, you're not going to have phenomenal-looking charts. So you have to do your darnness, right? Tesla definitely on watch for tomorrow. Because if this thing confirms this channel here, this is going to have the biggest upside. And oh, by the way, Tesla has his mind of its own. So it doesn't need the rest of the market to succeed. It just needs option flow. It just needs option flow and needs directional bias with the futures. And our job for today is kind of our job that we did over the weekend. Try to find the best value, right? The absolute best value we can find that actually had a range that got broken several weeks ago that never went down when the market got killed last week. And that's very, very important. And you look, I definitely found some names, right? Look at a name like Pinterest, for example. Pinterest never went down. Had a nice move here, good consolidation. Look at Pinterest's chart. If this thing starts attacking this top of the channel here, maybe this thing will wake up. Again, I don't know if it's going to happen tomorrow, but it's something definitely to watch. Sunpower is another name, again, in the solar space. Again, look at this. It got rejected three times off the same level here. Sunpower starts building above this channel. Why can't it go to recent highs? So again, names like that I definitely want to watch, but there's also a flip side, right? In case the market doesn't rally, you got to start looking for names that didn't rally. Like look at Square, right? Square is the only thing that held up Square today was the bottom of this Bollinger Band. If this thing starts building down below this bottom Bollinger Band and the market gets pulled, hey, this thing looks pretty good as well. Now, you also want to take a flip side to the names, quote unquote, that are bouncing, right? They don't have the ranges like, for example, like a Pinterest or a Tesla, right? Top of the range is the clean. You need to be a little bit more, you know, a little bit more constructive, right? You need to be a little more constructive by trading it for cash flow. And that's what names like, for example, like Amazon, right? Names like Amazon on the video take place. At least if we can find them, if we could see their strength in the market tomorrow and they start taking out today's channel and starts building off today's channels. Yeah, they're definitely going to be candidates that we could play tomorrow. But remember, they're candidates strictly for cash flow for bounces, right? There's no macro level that you turn around and go, wow, in the video, if it really takes out that level, there's a lot of airspace like you can in Tesla, right? At least Tesla, you can see the airspace. You can see what happens, where your measure potential is and where your pot of gold ultimately is. So going into tomorrow's session, look, can we get another day of rallying here? Again, rallying. Can we get at least another day of bouncing? We'll see here. You can see here last two times, we hit this orange line, we faded, hit this orange line, we faded, and if we get one more gap up into this orange line, which is the five-day moving average and we get faded, then everything that I've completely said becomes moot and then we start looking back to the downside. But again, that's the market we're in right now. We're underneath, right? We're underneath the 50-day moving average. We were above it for two days and for two days we rallied, then came the CPI engulfing candle for five days. We broke, we went lower. The Bollinger band saved it. We had a little baby hammer. We got a little dead cab bounce. Let's see if we can stick it out to the five-day moving average. That's it. Day by day, trade by trade. You don't have to reinvent the atom or split it. Again, it's just trying to make sense of things every single day. So let's talk about today's action. Obviously not a really aggressive day. There's only one stock that was aggressive and it was it right here. Everything else was just kind of like didn't trigger or it was a little too thin to trade. So Tesla, obviously the biggest move of the day. 304 needs to build. The first move was to 305.5 supply. It reclaimed 305.5 supply. And then you can see it. You can see by the action, a really, really big move. Hit this 305 level, came in, reclaimed, went to almost 310. And you can see where we want to see it for tomorrow. Above the 310, potentially can get to this 314, 315 level. Remember, you only need one. You don't need 10 of these things. You only need one. And obviously go with the one that has the biggest measured potential. AI, not a big move. I still like this thing lower. Potential swing, any close below 14. It went to 1370, nothing big. OKTA, same thing. I still like this thing. It really needs to close below 58. Wolf, 121 and 120. This was way too thin for me. I know some of you guys call this way too thin for me. 121 and 123 and a quarter, big areas need to confirm. Here was Wolf. Right, here was Wolf. So it took out the 121, right? 121 took out the 123 and went to 124. Nice move if you got it. Just way, way too thin for me. First solar again, like we talked about, 136.50 needs to build. Here was first solar. Right? Again, you're not going to get massive moves. This is kind of like a dead cat zone. So 136.50 went to 138. I believe we cover this thing on the weekend video. ENPH never got to 23. Shopify never got to 31. JCI never broke 53. In the video, I lost a little bit of money. I think I lost like 60, 70 cents on. Not a lot, but the point was a little bit weird. So it takes out that number, puts in a high of like 33 and change. Retraces takes out the 33 and change, starts going, stalls out, goes down. And then I look up, you know, I look up two hours later and the video is blah, blah, blah, blah, blah, traded all the way up to 34.60. It doesn't even look like a big move, but the point is again, that's what the whole point of a dead cat. So a little, little scrape on the knee here and Tesla is obviously fantastic today. And the key question is again, do we get that one more day? But again, just to keep in mind, the cues watch these things off the five day. You could see here clearly how last time it got rejected off the five day and really started going aggressively lower. So if we test the five day tomorrow and we get rejected again, be cautious. Don't put on positions as you're getting rejected on the five day. And then we'll start kind of reversing course and seeing channels back to the downside. That's it. We got our game plan. We're ready to go. Remember, you don't need to trade every single day. Your process is not going to be highlighted and respected every single day. The most important thing is understand the market's open, right? It doesn't give you every, it doesn't give you an opportunity to put yourself in a position to win. But when everything lines up and your process gets highlighted, that's a completely different story. Guys, God bless, stay safe, stay warm, stay happy, stay in business. I'll see you guys tomorrow.