 The last thing we want to do is chase a gap up in a bear scenario. That's, it's the most basic rule. 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 AccessaTrader.com nightly wrap up show. Hope everybody is doing well. So same thing, right? Same thing kind of day by day, you know, you have a lot of weakness. You have a lot of general softness and a lot of names that broke down many, many weeks ago. You still have the punishment effect on earnings. They're again, they're not taking down stocks, you know, little by little on earnings. If they miss with this sentiment, they're getting destroyed. And the first one that really took the solid missile to his chest was, if you guys remember, was, was Netflix. And there's a lot of companies in between last night and, you know, going into today's session, you know, UPST just got just absolutely manslaughtered. And, you know, when you're taking all these growth stocks that have these big runs, if you guys remember from yesterday's video, again, you can make a case that these stocks are not cheap, right? They just shouldn't have been up in orbit to begin with. So these earnings reports, all they're doing is just basically justifying that theory. So when you look at a UPST and you still turn around and say, well, $33 is going to base out for the next couple of weeks and filing is going to go higher. Remember, it's not right. It's not all these stocks that we talk about continuously. And we talk about these earnings lows kind of melting for the next several weeks or so. It's real. Again, you look at every single stock that lost its earnings in the last, you know, in this quarter, you can see it on Netflix, God down, right? I give you a perfect example. Again, we kind of go over this all the time. Netflix gone down, rally sideways, you know, went down another 25 points. Amazon earnings lows, right? Amazon earnings lows went up a little bit, lost its earnings lows, got crushed. ISRG, right? We just go through them one by one. ISRG lost its earnings, went sideways, got crushed. The Verisong lost its earnings, right? Lost its earnings, lows got crushed. So you're seeing them over and over again. So a name like UPST, for example, a lot of people are going to turn around and say, wow, look how cheap it is. You had a 50% haircut, not so fast. Again, if you believe in the theory, these growth stocks never believe, never supposed to be up there in that atmosphere to begin with, then this thing has a lot more to go. I mean, look what happened to Peloton, right? Peloton was cheap at 100. Peloton was cheap here. Peloton was cheap there. Peloton's still not cheap, right? And things go over and over again. And if you look at today's earnings, you know, the continuation of the Cathie Wood, kind of unfortunate demise of the ARC funds, little by little, you know, you have another massive, massive haircut on Unity software. I mean, that's going to hurt between this and TDOC that we've been talking about now for about a week or so. Finally lost its earnings lotes, the lowest close in this whole formation. We've been talking about this kind of nonstop. You know, she's having a very, very rough time. And not only she having a rough time, unfortunately, her investors are having a rough time as well. You have roadblocks coming in after the close down about 7% coin base. Again, it can't be good with Ethereum and all these coins taking a major haircut with Bitcoin going down, another 11, 12% after the close. You could see the sentiment. Again, the day to day almost, it doesn't matter. We talked about last night in the video that, yeah, we're in a cell bias, but any single day, you can get a, you know, you can get a move up, okay? And who cares? And that's the whole point. I don't mean it in a mean way. I don't mean it like who cares, who cares? You kind of seeing the same thing play out visually. Even if you don't understand how to read a chart and you're brand new to trading, you could see the whole, you know, you could see the whole thing playing out in real time right in front of your face. The 50 day was lost. The 50 day became, from demand, it became supply, got rejected numerous times, went lower, went sideways, went lower, went sideways, went lower. And even when you have up days, again, it's like winning the tallest dwarf competition. The queues were 371 on April the 29th. We're talking about a victory here at 300 only a month later. So this, look, the bulls obviously need a lot of work to do. The one common denominator, and here's kind of a little, I have two little tips, kind of for all you guys, especially for new traders, kind of going, starting your career. There's a couple of things you don't want to see, right? When bottoms are made, first of all, bottoms are made over weeks, right? Sometimes over months. They're called round about bottoms. And basically what that means is when sellers start to get tired, you start to see contraction channels. That means nobody's has any selling pressure. So there's no more days that the NASDAQ is down 600 points. Maybe you'll have some weakness, maybe down 70 points, maybe down 60 points, maybe down 100 points. Just the way buyers get tires on the way up, sellers get tired on the way down. And this is kind of a formation that happens for weeks and weeks and weeks. And one thing that doesn't happen in a rounding bottom or bottoming out process, the market never reverses on a gap and go. I don't think I've seen, I'm going on my 24th year, I don't think I've ever seen a gap and go in a bear market, right? You have, usually when you have a good, big, strong day, you have some sort of cattle. Like for example, last Wednesday, the market was week, week, week, and you had the Fed come in, right? Fed had that 900 point rally and then the next day it lost 900 points basically at the open and another 200 points on top of that, right? You never buy a gap and go in a bull market, in a bear market. And that's exactly what we saw today. After yesterday's 4% decline on the NASDAQ, you say to yourself, well, the NASDAQ is up about a 1, 1.5% pre-market. And we talked about this hours ago, man. This is like, this is the first thing I talked about. This is eight hours ago, a big gap up to start the day. The last thing we wanna do is chase a gap up in a bear scenario. That's, it's the most basic rule. There's no room. Guys, remember, when stocks are gapping down, okay? All they're doing is if they gap back up, they're gapping back up into supply. And that's exactly what we saw today. So the NASDAQ was up 250 points today at the open. The NASDAQ went down 50, very, very aggressive. We'll talk about the individual pivots in a second. And they obviously reversed back a little bit later. And that's kind of what we talked about in last night's video. At some point, they have to have a little bit of a rally. So this was the rally, right? If this was a rally, this is not really really great news for the bulls because all they did here was put in an inside day, right? Didn't take out the highs, didn't take out the lows. Just put in an inside day on strong volume. That's not a good single. You usually don't wanna put an inside day on strong volume. Volumes, inside days are meant to be the light volume distribution. This is a strong volume, strong volume on an inside day. That can't be really, really good to kind of feel good going into tomorrow's session. But look, eventually, right? Eventually the sellers will get tired, right? It's just, it's inevitable. It's like in 2009, right? The generational lows of 2009, the question was, well, what the hell, man? This market's just going down every single day. It's the mortgage mess, Lehman's zero, Bairstern zero, this one zero. Maryland's just got taken over like a dollar a share by bank, like what the hell is this gonna get this market going up? And that's the whole point. The market never needs a reason. It's not gonna tap you on the shoulder and say, okay, we're done selling. This is the generational low. We're ready to go higher. But you need some sort of signs. You need some contraction on the downward days. You need a roundabout bottom with some bad news being negated. You need something positive. You don't even need a catalyst, but you need something positive in the form of organic price action to kind of get you going. Other than that, we're just repeating the same dog and pony show. Down, down, down, down, up, down, down, down, down, up, down, down, down, down, down to be determined. So going into every single day, you're going to be sell biased. Again, like I said in last night's video, the last thing you want to do is get too aggressive at the open because at the open, you're always going to wind up with the wider spreads, with the smallest liquidity. Yeah, you're going to have the biggest candle of the day, usually at the open. But the most important part is that you're also going to open yourself up to the biggest exposure at the open as well. So for newer traders, if you are participating to the downside or to the upside or whatever the case may be, how the day's starting to unfold, you might want to start your day. Again, you might want to start your day around 10 o'clock after the first candle. For all of us who've been doing this for a very long time, we know the risk. We know the rewards. We kind of know what to look for. And today, and kind of going into, like segueing into today's session, you know, today, you know, I saw the 200-point rally and I go, look, I'm not buying anything. There's no way in hell I'm buying anything. There's no way in hell after a 4% move yesterday into the close, the last thing you want to do is buy anything, any strength into the open and instantly everything got sold. Literally, everything got sold pretty much under the sun. A lot of Tesla just to give an example. Now it's definitely the shining star of the day. Tesla was up $38 at the open, okay? At one point, at one point, the stock was down 25. So I mean, you know, anybody who bought the open today on a lot of names just got absolutely destroyed. And again, was there a hundred different pivot states to the downside? No, because it was a little bit of a choppy day, some long, some short. We're giving a little bit of a disconnection of strength and weakness, but the ones, again, we concentrated on, you know, they did fairly well. So let's talk about them. TDOC, I got the wrong price. It's actually corrected the price up here. Where the hell was it? I connected the price. Oh, here it was, it wasn't 31. Initially I put 31 if it builds below can flush. It was actually 30, so I apologize. So $30 on TDOC, not a big move down yet. It went down about $1.50 or so, but the point is this is the lowest close in the whole formation. Again, I gave pretty much a lot of examples of what happens when they close below the lowest close in the whole formation. If this thing starts taking out today's channels, you can, you know, this thing could drift into the 21, you know, $21.20 level. So, you know, nice little move there on TDOC. Spotify stopped right before the 93.50 area. Keep an eye on this 93.50 area going forward, guys. You know, Apple to the upside, not a big move at all. As you can imagine, you know, went up like 50 cents, 55, like nothing. There's no juice to the upside. And again, I'm sorry, I'm kind of a little bit of an oval place. The one thing I forgot to mention, the one clue that you know, we're still in a very volatile exaggerated bear scenario when every rally is on one candle. You know, pay attention to that. If you guys notice, there was one big rally attempt today and it all happened on one candle. Look at some of these stocks kind of intraday, right? I want to show you guys something. Here's my point. Here's the intraday, right? When you see these candles, this happened on one candle. Look at Amazon, right? Right, one candle. Look at Netflix, right? One candle, you can see a little bit bigger. One candle, that's not healthy, right? That's exactly what we saw on the Fed announcement. That's exactly what we saw a couple of weeks ago as well. The market, it fits strong. It's gonna be organic. It's called the grind up, the stare up, right? Slowly, but surely, because when you get a grind up for hours and hours and hours, that means there's no selling pressure. When you get one candle, that's called artificial insemination. That's called the robots are taking over. And usually what happens is they get stuffed into supply and the next couple of days, they start to fade. So I just wanted to kind of include that as well. So CF, we're watching, never got down to 90. Again, we talked about TDOC. Facebook, not a big move, but now it's closing at the bottom of the range. Keep an eye on Facebook for tomorrow. 95.50, if it builds below, can flush. Only went down to like 94 and change. But here it is, the only reason why it stopped is this linear regression line. If it loses, if it starts losing this 94 tomorrow, I think there's a shot it gets down to this 192 level. And if it loses 92, look at which airspace we have. So not a big move today on Facebook, but it's definitely, definitely setting up. This was definitely the big one for today, 7.94. And yesterday's low, 7.81, if it builds below, can flush to 7.50. I still think it gets there. Really, really nice move today on Tesla. I feel like I say that once a day, but it really is the greatest stock. So here is the 94, right? Here is the 94. It closed, it stopped at 87, confirmed 87, confirmed 81 and went all the way down to the 774 area. The only reason why it stopped there was this Bollinger Band. I'm telling you, this Bollinger Band gets lost in the next couple of days. And if you believe in technical analysis, you see these two charts, the lows here on these two charts are 7.50s. So definitely, definitely watch Tesla. Rivian, right? This is again, when we talk about the power of option flow. Rivian was trading 23.50s and we started seeing weekly 22 21 puts, 21 21 puts, can you guess what the low of the day was? Right, da, da, da, da, da, da, da, da, da, da. Right, 21 bucks right in the nose. So really, really nice move there on Rivian. Rivian take on the way down. Yeah, being pretty cool, right? Pretty cool. You don't care about the scoreboard when you're preparing for the day. You're only caring about sentiment. Let me give you guys a couple of ideas for tomorrow. I kind of like, I like Caterpillar. If it loses the bottom of the channel here, that looks pretty good. Look at Comcast, right? Guys, you know, again, look at Comcast. CMCSA, you know, it's basing. It's basing out. It's not sexy. It's not going to put in a Tesla move, but watch this thing for the next couple of days. It loses the bottom channel here. It can get hit and VRTX. Let me give you guys one more. That's non-beta. Look at VRTX, had a massive move yesterday. Again, inside day today, you know, got murdered yesterday of five bucks, which was a tip today. If it confirms in the next couple of days, this thing has a lot of room down. So keep an eye on that as well. So that's it guys. Have a great night everybody. God bless. Got another game today. Don't even remember if it's my son, my daughter, but I know my wife texted me and said, gotta go. Guys, have a great night. God bless. And I will see you all tomorrow.