 I think what we're seeing here, okay, is like that last hurrah of summer and every single time the bulls look like they're tired, right? Like you saw the cues today, literally the whole morning. They were just drifting and drifting and drifting and out of nowhere, it's like somebody attached a rocket, right? Like a rocket pack into the bull's back. 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 TheAxisTrader.com, a nightly wrap show of everybody's doing well. Hope everybody is happy and healthy and your families and loved ones are safe. Before we get started, so let's talk about the tape, right? So yesterday, after I did my research, I recorded the video and I looked around, I go, there's nothing really that I love for today. I thought the market was tired yesterday. I thought a lot of individual names were tired. I gave a pretty good case yesterday what happened after stocks got above their range. And I thought today could have been kind of like a non-event. And if you go back to 24 hours, I said I wouldn't be surprised if tomorrow's video, which is now, that I was going to turn around and say, yep, market played exactly how we thought it was quiet, the range is contracted, and it was very, very slow. But we were mature enough to understand this and again only play the premium hand. So I came into this session with literally no expectations. And the one thing that I tell new traders all the time is if you come in with expectations, expectations equals emotions. When you have emotions and you have all these built up scenarios in your brain, it's all emotional. And the hardest part for a new trader, for any trader, but especially if the new trader has been trading for one to five years, is how to get rid of the emotions, how to slowly start getting rid of the formal, how an individual trade or an individual trading day is not as important as the sum, right? As the sum is your whole journey, is your whole career. And I came into today's session, I said, look, there's some shorts that I like. We talked about the meme stocks last night, no, the GME, AMC, I like some, some stocks to the upside. I go, let's see what we got, right? Let's see what we have. And I tweeted out this morning, I said, look, I got no expectations, no expectation, expectation equals no disappointments. Let's see what happens. I'm not in any rush. And that's the coolest thing about the greatest reality show that's not on television. There's no scripts, right? When you think Amazon's going to blow out earnings, they get destroyed, right? Completely random. Twitter, Snapchat and Google explode through earnings logically, Facebook is going to go up as well, gets destroyed in earnings. So nothing makes sense. 10 years ago, AMD is about to go bankrupt. This is the worst chip company ever Intel's eating their lunch. The stock is going parabolic right now. This is again, the greatest reality show that's not on television. So expect the unexpected, right? Plan out for what you might think is going to confirm technically and let it play out. So when today started, I said, all right, let's see what happens, right? I don't think anything is going to be earth shattering. I don't think especially after yesterday's kind of tiring session for the exception of that big Tesla move at the open, let's see, maybe we could have a quiet day today. And as the old ESPN broadcaster, Chris Berman used to famously say, that's why we play the game. And today, we had some pivots to the upside, we had some pivots to the downside. And I tell you, this was probably one of the more aggressive opens I can remember in a very long time. And we went from literally the tweet, like right before the open, I said, look, if we get something today that's exaggerated, I will be shocked. I'll be very pleasantly surprised. Yeah, pretty much surprised, pretty much shocked. And it was incredibly aggressive. We'll get to the pivots in a few minutes. I think what we're seeing here is like that last hurrah of summer. And every single time the bulls look like they're tired, right? Like you saw the cues today, literally the whole morning, they were just drifting and drifting and drifting. And out of nowhere, it's like somebody attached a rocket, right, like a rocket pack into the bull's back, and literally we went from down 50 points on the cues just to just absolutely exploding right back. So whatever we lost in the first candles of the day, we got it back literally in a 10, 15 minute interval on the cues, which basically again confirms two couple of things. There is no fear, right? When the market is tired, you're looking for individual plays that are getting corrupted, that are getting confirmed to the bottom channels. That's not 99% of the market. Is it the meme stocks? Yeah. I mean, again, we talked about this last time, we've been talking about them, right? Is AMC look like it's going lower? It does, right? It was lower today. GameStop got hit this morning. Again, there's a lot of, we're still room down. So there's very, very obvious things, even a name like Netflix today that I shorted in the morning. I saw the 410 area, 510 area, it held twice. The third time went right back down to this 504 level. So there was some things that you could clearly see that were very, very weak and they're about to really breach their channels. But if you look at 90, 95% of the stocks, even the names that got hurt on earnings, they've wiggled their way back and it really does show you how strong the market is. Now again, there's three weeks, well it's a full month left, right? In the Northeast, about school start, especially in the tri-state area, I'm in Jersey, around September 7th, September 9th, September 12th, that's when kids go back to school. So for the next month, you're going to see kind of the last hurrah of summer. So which basically means fund managers, they're going to be in Europe, they're going to be in the Hamptons, they're going to be in Martha's Vineyards, they're going to be anywhere that you vacation, maybe Brighton Beach, Brooklyn, I don't know. Some call it, what is it called? The French Riviera of the septic tank. I don't know, maybe they're going there. But the point is, you're not going to see a lot of emphasis, both long and short on a lot of days. The days that take off and the days that take off on a very aggressive way, you're going to see it. It's going to be very, very exaggerated. So you can't plan it for the day, but we also don't know one thing. There's no selling pressure right now. Again, anything could change at any given time. There could be a lot of pressure points at any given moment. We were not naive, we get the market goes up, the market goes down, gravity is very, very real. But at the same time, as of right now, with a lot of people vacationing, it's very, very hard for a fund manager to turn around and say, you know what, hold on, I don't want to go see the Eiffel Tower. I got to sell my shares of XYZ, right? It doesn't work that way. So I think you're going to have the true nature of the market. Now that earning season is kind of down the last stretch, you're not going to see really the true nature of the market until people come back after Labor Day, right? So I think from now to Labor Day, you have to play the themes. You have to play the ranges. You have to play the stocks that are very, very strong. They continue to be strong. Anytime you get a dip into the morning session on a rising 60-minute support on a stock that was really strong the previous day, those bids, right? Those bids get defended. Those ranges get defended and you're getting moves right back. And a lot of names look really, really good for tomorrow. But I'm not looking, you know, I'm not really looking for a lot of names that have that prototypical breakout area. I'm looking for more names that stocks had big, big runs, whether it's earnings, whatever the case may be, and just kind of been drifting for one or two days. And I'm watching for channels. So let me give you guys a couple of, like, you know, a couple of some names that, you know, I'm definitely, definitely watching. Like, look at DXC up, right? Not usually a name that I would concentrate on. But again, it had this really, really big move a couple of days of rest. So now I'm just kind of watching for, like, a sneaky channel for this thing to get going. Like, look at a name like Clack. Again, if you look at the semiconductor space, very mixed back so far with earnings. But again, had this really, really good quarter. And for the next last couple of days, it's been kind of drifting. I'm watching, you know, so I'm watching top of those, excuse me, middle of those ranges to kind of spark to start testing the top of the range. Look at a name, for example, even, even a name like, even a name like Square, right? Even a name like Square had this big, big massive move. Yes, they, they bought somebody, they reported earnings in the middle of the day, blah, blah, blah, you know, had this ridiculous move yesterday, rested today, right? Look at Tesla, same thing, right? Tesla had this really big move out of the range today. It rested today after a big monster move after a big three day move. So I believe the value play kind of the next couple of days is going to be one of these stocks are going to wake up, you know, is it better for them to kind of rest more? Is it better for kind of like big money flow bets, especially into the weekly expiration? Absolutely. But I think for those names that we're watching, I would like to see dips into rising support. I'd like to see buyers continuously support those ranges because that's where the value is. So if you believe in the quarter and you believe that sellers are comfortable at the top of the range, well, why wouldn't you want to buy the rising wedges, the rising support on a lot of these names? And a name like Tesla, for example, had this big run since 630. It took out the 700. We were talking about a Nausea or Ranta 730. So you're talking about literally, you're talking about 100 point move in five days, it deserves a rest, right? It deserves a rest. That's exactly what we're seeing today on smaller volume. Even when the stock went back down today and tested the 701 level off the original break, you saw monster money flow coming. They came in for the 750 weeklies. Again, if the stock is back, backtesting the 700, these guys are betting five, six, 700,000 for the 750 weeklies. Again, you kind of know that the rising wedge is still working and there's buyers on rising support still buying. Even a name like Amazon that got kind of beat up into earnings that kind of missed their quarter unexpectedly. Again, you saw today kind of held the bottom range, the daily range, it stopped at daily supply. Now what happens if this daily supply gets confirmed? This isn't some piece of crap stock that needs to drift from months and months and months before people kind of shake off the corner. This is Amazon, right? In this type of environment, all it takes is one or two days to kind of remove all negativity, remove all stank from Amazon. And you could get a snapback right back. Think about it, the stock just went from 3,700 all the way to 3,300. You tell me 3,400 can't get reclaimed and building. Matter of fact, you saw two bets equal a million dollars worth of premium today for the 3,450 weekly calls. The stock is, you know, that's where the five-day moving average. So there's definitely areas of interest in the market that looks pretty good. I continued to look for clues of any type of buyer strike. We saw that this morning and then this afternoon, we saw no strike no more, right? So big moves in the continue in the market, strength is still good. You're still getting the big strong movers, you know, the mRNA of the world's, you know, monster move. AMD apparently will never have another downtick until the gas is out. Tesla's still very, very strong. You know, you have a couple of names that are reporting in the next several days. The Roku's of the world, we'll see what happens there as well. But Apple woke up today, right? We talked about Apple last night off this 47 level reclaimed at the highest close. You got Microsoft woke up this morning, right? Reclaimed the five-day moving average. So it's bullish, right? It's absolutely bullish. But the common denominator is stay prepared, right? Stay prepared, stay focused, okay? Be patient and let the market, again, we kind of try to drive this point home, let the market dictate to you what's going to happen next. Again, no expectations equals no disappointment, equals no emotions, price action is king. So let's talk about today just crazy, crazy moves today, like literally crazy moves today at the open. Did everything work? No, a couple of things didn't. But the point is the majority of names that got very, very strong, got very, very strong, very aggressively. So again, Tesla for experienced traders only. And again, for Tesla tomorrow, I will look to buy into a rising support. There's no way you can tell me that dip buyers are coming in the options market betting hundreds of thousands of millions of dollars. And they're not going to at least test the previous days high at some point in the foreseeable future. So Tesla, I'm definitely watching pretty much every day into rising support, especially the daily for trap possible ego shorts at the bottom of the channels. On the video, I finally caught in the video, but the one thing that we kept on noticing, I'm like, why isn't the video exploding for that five, 10 point move? And apparently that news about their, their, the whole European takeover of arm, all that stuff, it's kind of weighing the stock down. But at least we finally caught this thing. 200 needs to build a bunch of 205 call buyers coming in the last two days, got along with 200 went to like 202 and change. And then that news surface, they took it down, they took it back up. But overall, you know, no complaints there. Apple 147 confirms the five days supply. Again, we talked about Apple last night briefly on the video. So here is Apple, the highest close in the last week, plenty of 150, 160 near term buyers coming in on the name, especially the 150 weekly is definitely keeping an eye on Apple for tomorrow. Netflix is a nice and short. Again, the problem with Netflix is the liquidity sucks, right? I think it's the nicest way. And I say that in the nicest way possible, five, 10 held twice, if it builds below can flush. Short Netflix, nice move. I mean, nice move, not really too many hiccups. Here is the 510. You can see it. Here's the whole 510 took out 510 went all the way down to five and four to 504. Like why was 514 important? Because that is the low from 723. So now, you know, 504 is a big level going forward. But that's fine. You know, there's nothing wrong with that trade at all. Nice move on Netflix square just in case it wakes up on the 27650. It didn't do that. But that opening range went from 266, 267 perfectly off the bottom of the range. And the stock literally went green in the day. So a huge move there. UPST, we talked about this briefly last night, 134.50, 135 needs to build. Here was UPST. Right, here comes UPST. So it took out the 3450, 35 and traded all the way up to 39 and change before it reversed. So nice move there. AMC. Again, we talked about this last night, the memes to the downside. 34, if it builds below, can flush. Here was AMC. Right, still looks low. I still think it goes to 31. It took out the 3450, went down to 3278. It looks like it's going to test that 31 area. The next one was GameStop, right? This was definitely the move of the day. Snow, I caught a piece of that very, very small, but I caught it. 275, the algorithm just took so much liquidity. 275 has been rejected twice, huge level there. 275, snow went ballistic, right? Took out the 275, went to 286. Any dips tomorrow, 60 minutes support, don't even think about it, buy the stock. Zoom 84 only went up a dollar and change before it sold off. Snow just exploded. Fantastic moves. I mean, really, really fantastic moves. Here was GameStop, right? GameStop. Yesterday's pivot was 158, went to 155. We talked about how important that 155 yesterday was. If sellers can confirm that 55, it can flash, flush, macro. And here was GameStop, right? GameStop. It took out the 55 and went all the way down to 148. It looks lower. It looks absolutely lower. Again, listen, can it rally back a little bit? But stock looks lower, big, big move there. So you had some really big moves there. Perfect dip into support. Stock went to green. NVIDIA, good job there. AMC. Here we go. 510 on Netflix. Here comes 149 lows on GME. And yeah, so look, I think the market is very tradable right now. I think most days you're going to get a really, really good value. The key is just to wait for those dates, right? Any day that looks like it's tight or the channels are contracting, that's the last thing you want to do is kind of press, press, press. Again, learn to switch gears. Learn to have an open mind. But again, learn how to stay in the game, play the game and stay in business. Guys, have a great night. I'll see you a lot of you guys soon.