 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 access to trader.com nightly wrap up show. Happy Tuesday. Happy Tuesday. Hope everybody had a wonderful, long, beautiful Memorial Day weekend. Hope everybody got their batteries recharged. One thing the market doesn't need is more recharging. We'll get to that in a second. I want to welcome to all you guys who are watching this via Twitter, right? Or you are watching this via YouTube. If you are watching this via YouTube, kindly share, like, subscribe, all that good stuff to keep helping the word, keep progressing the word of technical analysis in all its unbiased form. So thank you very much once again for all your viewership. So let's talk about the tape. So we talked about in those in now how aggressive the market has been. This morning you woke up, you saw nothing short of exactly what's been happening. The market continued to be incredibly aggressive over the weekend. This is obviously the news broke after I recorded the video, but there was a preliminary agreement by both sides for a debt ceiling raise. And as you can imagine, up, up on the way we went, everything gapped up really, really aggressively pre-market congratulations for all you guys, for all you guys who are long on the video or Tesla or any combinations of both really, really big gap move. But the one thing we continue to talk about, and this is a very, very important aspect of trading in a euphoric since this kind of scenario is don't chase the high flies. Especially if you missed the move, if you missed the initial entries, don't try to recreate the past. Just don't do it because nothing good is going to happen. And if you look at what happened pre-market, the stocks that had the biggest move up, right, and especially in the last two, three weeks, one app, right, you jumped off the 12th floor. If you bought anything pre-market because the stocks are going to the moon and you love social media and that's all they keep on talking about, then you probably had a really, really poor trading day because anything you bought at the highs got killed. Right? Let's realistically talk about it. It got killed. If you look in the video and no matter how great the video has been acting, the video is way off their pre-market highs. Stock was about $20 off their pre-market highs. You look at Amazon, you look at Amazon, Amazon traded at the 223s. It got down to 120s. Google went red on the day. AMD went red on the day. Microsoft went red in the day. So you kind of get the point. So the point of trading a euphoric hot market is always leave the stocks that had the big moves up, especially at the pre-market session. You're not missing anything. If you're not long in the video over the weekend in the 390s, why are you buying it at 420? What is the rationale behind it? What is the thinking behind it? Because again, when you're laying down your money, you can't just say, well, I thought it was going higher. Okay, going higher, going lower. There's only two things that can happen. You could either go higher or go lower. But again, the trade from Friday is completely different when the stock is up $20 pre-market. And that's the one thing that new traders continue to fall trap to. They continue to chase performance that is not there. And I've always said and I've always maintained this point, I don't trade momentum. Okay, I don't. I trade the stocks that technically be confirmed that turn into momentum by the time it hits scanners, you're making sales already. Okay, you're making sales. So the stock that broke out at $50 is not the same trade at 78. The stock that broke out at 100 is not the same trade anymore at 140. These are big expansion continuation channels. And eventually when they run out of chairs, it's very, very easily to lose your solvency status because the aggressive part of the retrace is always much more aggressive than the move up. I know it seems that crazy enough, but that's exactly what's happening. Here's the key element of what I thought about today. Number one, the AI names are going absolutely nuts. We'll get to the pit that's in a second. AI itself has its quarterly update tomorrow, right? It has earnings after the close tomorrow. Stock has just been absolutely on fire. It's up another dollar today after the close. Anything to do with AI is getting stronger. The one name that I think a lot of people are forgetting, it's actually an AI stock, right? You know, it's self-driving allegedly. I don't know, maybe I'm stupid, but it's very, very close. Remember all of last week we talked about levels that are needed to reclaim, needed to move? Again, we finally got to that top of the level that we talked about last night's video in the weekend update. It finally tested the top of this linear regression line. If this true indeed is going to be recognized as an AI play, crazy to say. If it just gets above this linear regression line. I know we talked about it on the weekend update. It tested that linear regression line today. But the difference between Tesla going up and going higher is this last line of supply here, this linear regression line. So keep an eye on Tesla in the next couple of days. If we can get it closed above this linear regression line in this type of environment, when you talk about a stock can potentially stretch, that's Tesla. The question is, is it going to do so, right? We'll finally, we'll obviously know that answer within the next couple of days. But it's definitely, definitely the one to watch. Because again, as much as I love every other stock that goes on big, big runs, when Tesla goes on a big, big run, it hits absolutely different. So it's very, very important to understand. Here's another cool point about what we used to see in the stock market and what we're seeing the stock market now. Years ago, when we talk about this all the time, when you used to see these really big moves, the indexes would be affected and everything would go the same way. These days, if I told you today, Coke, right? Coke, deer, proctor and gamble, right? Target, right? Look at these charts. Target, the energy stocks, anything that's not technology. I would have showed you those charts. You would think the market is at 52 week lows. And that's really shows you how the disconnect has really applied itself from the trading aspect versus the investor's aspect. If you told me, look what Coke is doing. I would thought Coke is at 52 week highs, but it really does show you there's a huge disconnect and there's a big, big difference between trading vehicles versus investing vehicles. And as you can see by Coke, proctor and gamble, you know, Clorox, right? Clorox, we're in a completely different market. If it's not technology, technology up, consumer cyclicals, energy, let's see your energy, consumer cyclicals, what else? What else? Soft drinks, anything to do that's not technologies being sold. The money rotation is going into tech. Again, the question is, when is this going to stop? I hope it never stops with the reality as it will. And like I said yesterday, like I'm going to say today, you have to absolutely have to be prepared on both sides of the market and leave all the extended stocks alone or start looking at the extended stocks for potential back tests if they start taking down the previous channel. It's very, very important to understand. So for example, like look in the video, right? So in the video, I just had this Godlike run. There's really nothing else to say. It had a Godlike run. You guys remember the last time we talked about an inverted hammer, right? It was Google about two weeks ago. You guys remember that? So it put in this an inverted hammer and it necessarily doesn't need to, needs to go down the next day. But once it put in this inverted hammer, it gave a short-term shift in sentiment, at least shift and change. And for the next three days, it had a really, really nice move on Google. So check out the video, right? Check out the video. So in the video, it's kind of the same thing. Is it going to play out the same way? We don't know. But NVIDIA had a Godlike run, as I said, has gone from 290 to 420. Okay? That's a huge, huge run. Don't think for a second, this is today was the top. Maybe it is, maybe it's not, but I wouldn't bet it is. However, there is an opportunity to take advantage for potential weakness. I will be watching for the next two days. If it starts taking down today's channels, I will give it a look for potential short. Only because, again, I'm not saying the stock is going back to 200. We're just taking, again, we're just taking advantage of the price action, the two-way price action, the same way we took advantage of when Google put it inverted hammer, that's kind of the same setup as I'm watching the video. Maybe it happens tomorrow. Maybe it happens the next day. Maybe it doesn't happen at all. But again, it's one of those scenarios. Yeah, you can find still plenty of short, plenty of long opportunities. But again, if they pull the market, don't you have to be prepared on both sides? So I definitely want to watch the video. I will say there was massive, massive continuation of 420, 440, 450 June calls that continued to flow into the name. Absolutely incredible. A name like AI is in a runaway train. They're going to run this thing into earnings tomorrow. God only knows what's going to happen in the earnings. But then we saw it today. They came for the 40s. They came for the $50 calls. Pretty big size. And again, you can say whatever you want about the AI boom potential bubble, but the technology is real. Just because there was an internet bubble at one point doesn't mean we don't use the internet. As far as I know, we are using the internet on a daily basis. So the technology is real. The question is, how is the stock going to perform into earnings right now? It's just an absolute beast. And it's taking all the other AI names with it. So definitely one to watch for tomorrow. So the job is intact. How do we find value, right? We got to start looking because it's getting harder and harder every single day to find the stocks that are coming off the bottom. There's tons of stocks that are coming off the top, right? You have every tech stock in the book. You can literally go through all of them. But again, you want to avoid this, right? You want to avoid those big pulls on the stock that had big, big runs. So here's some names I want to watch for the next couple of days. They probably don't confirm tomorrow just because they didn't close anywhere near where I wanted them to. But you never know when the stock wakes up. Look at a name like Roblox, right? Roblox has now been rejected four times on the 50-day moving average. This is a value setup, whether it confirms or not is a whole different story. Again, I could be talking to the stock for the next week, not confirming. But the point is it's got it rejected four times in the 50-day. That's the stock I want to take a shot with. Just because we already know the important level of the 50-day moving average. We know the importance of what happens when they reclaim the 50-day moving average. So this is a name that if it wakes up in the next couple of days, couldn't give that value pop. A name like Roku, right? Not exactly anymore this sexiest thing in the world, but it's kind of setting up like Roblox as well. Again, another name that got rejected off the 50-day moving average. I want to watch this thing for the next couple of days. If this thing starts reclaiming levels, let's keep an eye on it. Again, the importance of the 50-day moving average is well documented. I don't care what your trading style is, it's a very, very important level. So that's kind of where I'm rolling with for the next couple of days. Watching the extended names for potential back tests just to take advantage of both sides of the market. And then I'm looking for names and it's just trying to finally get above their supply zones. Whether they're Tesla, whether they're Roku, whether they're RBLX. So it's very, very important to kind of just gauge the landscape. And just sometimes you have to drive your car a little bit differently, because again, you can't drive your Bugatti or your high performance Ferrari in midtown Manhattan rush hour traffic at Times Square. It doesn't work that way. So you have to kind of gauge the landscape and kind of work the room and kind of recognize where the sentiment lies. So let's talk about today's pivots. As you can imagine, Tesla today was awesome. It gapped up into supply. Came back in. There was an opening range move that went to the next supply. Came back in. We caught a great bounce into Tesla. Almost went back to the highs to Tesla was a great trader. But everything else today, as you can see here, everything else, it didn't not a lot of names confirmed today. And that's a very, very important sign. That means it means stocks are getting tired. We were watching Google 2650 27 never confirmed Apple confirmed. The only problem is only went up about 80 cents. Roblox did not confirm. AI went absolutely nuts. Congratulations for what you guys have caught AI. AI 38 needs to build obviously for experienced traders only. It doesn't trade like everything normal. So it took out the 38 level, right? It took out the 38 level here just absolutely when bananas traded as high as the 45 and change after hours. If you are long this thing, great job. Path didn't confirm. Amazon didn't confirm. And here's again, and here's another perfect example. Netflix didn't confirm, but here's another perfect, perfect example. When a stock gets tired, right? When stock gets tired and it puts in an inverted hammer, you could take about it. Again, I'm not saying that this is the top of the video, but look at the pivot here, right? 40640, if it builds below can flush, right? So here was the video, right? So here was the video. Again, we recognize the inverted hammer. So here is the video, right? So the 4640 was this whole rising support. Once it lost the 4640 stock traded all the way down, all the way down to like the 390, what's the load of the day? Did I get that wrong? Yeah, it went all the way down to 398, right? Went all the way down to 398. So you had an $8 move towards the back end of the day. And that's kind of the whole point going into tomorrow's session. I want to see if it can confirm back this whole bottom channel. And if it does, there might be one more day of back test. Again, we're looking for value. I don't care which side of the stock trades, as long as it's giving us a clear path to the goal line and we are trading in line with the futures. You don't want to trade against the futures. So going into tomorrow, again, it's going to be a little bit hard to find the long bias volume value. I do understand and I'm not naive. A lot of stocks are going nuts. We'll participate in the nuttiness. I would rather pause. I would rather wait for a dip into rising support than put myself in a situation of buying strength on something overextended. Again, keep this in mind. You jump off the first war and you get hurt. You get a scraped knee. You jump off the 12th floor today, right? You might get a severed head. Guys, God bless. Stay safe and I will see you all tomorrow. Take care.