 Look at a stock like AI, right? Like, check this out, this thing has been dead for months and months and months. This is the first close today after all the supply. Look at the big bar here. And it granted, they do report tomorrow after the close. So is it possible we get one more day of a run up? Absolutely. Like, I'm not looking to take this thing into earnings, but if this thing starts confirming this whole channel here for tomorrow. 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 to be here, everybody. Welcome to another edition of the Access to Trader.com. We wrap up show, hope everybody is doing well. Just a quick announcement. I can't wait to start in the middle of the week. Tomorrow is, I usually take Thursday nights off to not do the video. I'm actually taking tomorrow night off. I'm going to game five on Nick's game. Yeah, please hold the applause. I feel like I'm going to a funeral, but anyway, so there'll be no video tomorrow and there'll be a Thursday video instead. So let's talk about the tape. Over the weekend, I made a video the weekend update and we started talking about being a little bit cautious on technology. And if you look at the scoreboard today, this is a very, very lackluster effort today by the Bulls. If you go up and down the line, you kind of see what I'm talking about. Amazon did absolutely nothing. Apple did absolutely nothing. Tesla today did absolutely nothing. Netflix today, absolutely. You kind of get the point, right? And the leaders of the group that were the semiconductors that we talked about leading this market up, they took a rest. So it really isn't a big surprise today when you look at the scoreboard and you turn around and Nasdaq was down some. Okay, that's not a big deal. The one thing I didn't like at some point of the day today was the QQQs giving up the five-day moving average very, very quickly. You see here every single time it's hit the five-day moving average, right? It's bounce, hit it, bounce, hit it, bounce, right? And today was the first time that it went through and it looked like it was about to test the 50-day moving average. And at one point they actually rallied back and reclaimed only to lose it into the close. Now, normally I would turn around and I say, well, that's kind of a red flag. I don't like the fact that they didn't participate. I don't like the fact how easily the tech stocks went through the five-day moving average. Again, if you're watching this video for the first time, the five-day moving average, at least for me, represents the shortest-term sentiment. So the idea that the bulls didn't even put up a fight on the five-day moving average is kind of a big deal. And the more I thought about it, and we close below the five-day, the more I thought about it, I was like, does it really mean anything today? And usually it would be kind of a big deal because technology would be the leaders and usually they would pull down everything else. But with so much speculation money continuing to roll into this market, it's very, very tough to have an actual reaction to where the cues close. Because if you do look at a lot of these names, right? If you look at a lot of these names like a square, for example, or in Netflix, or in a video, which had a really, really nice push towards end of the day. But if you look at a lot of the technology names, it's not like you could turn around and say, okay, I got the information, I collected the data, the cues close below the five-day moving average. Dan usually says this is a big red signal, tomorrow we should go lower. The problem is nobody's caring about these stocks right now. If you look at the participation, you look at the natural order flow and you look at the option bets that's going on in technology space, it's kind of irrelevant. Like Apple didn't have some pretty good call buying today, short term 130, 131, 135 as they did, but Apple's nowhere close to being significant to the upside, right? This thing is still at the bottom of the channel. It's still gonna need to reclaim this whole area here just to move up here. So the idea that the order flow is coming in, but the stock prices are not reacting. And you know, can the market continue, when I say the market, can the NASDAQ 100 continue to kind of drift for the next several days and even hit the 50-day moving average? Yeah, I think it can, right? I think it can, at this point, it really doesn't matter just because if you look at the technology group as a whole, there's nothing that's standing out right now on the bottom of the range or below the bottom range. You could turn around and say, I like the stock for a short, right? It's like one of those scenarios that the market's not a long, right? The technology names are not a long, but they're kind of not a short either. So it's one of those situations, kind of let them drift, right? Let them drift. And usually I would turn around and go, wow, this sucks for me because again, 90% of the time I do trade these technology names. What am I gonna do? What am I gonna do? But this is where you kind of pivot, right? Pun intended. This is kind of where you pivot into the hot money. Again, unless you've been under a rock for the last week or so, the Russell has still been really, really good, right? Incredibly good. We talked about the 50 day moving hours the last several days, breaking out really well. And again, how can you turn around and say, well, the market itself, quote unquote, the market itself is weak when you continuously have moves like this. GameStop and AMC, right? All these crazy lunatic names. Names I never heard of before, like these weird stocks having these big moves. So I think the money flow is going to other places. I think the only cause of reference we could possibly have is if the queues eventually, and again, this is a putting it out there. If they close below the 50 day moving hours, in other words, any close below 330, I would start to get to concern. But I would rather just kind of let these things drift whether up or down. Eventually they're going to pick a very aggressive direction. And if everything goes well, they do hold the 50 day moving average. They do hold the 10 day moving average. They do reclaim the five day moving average. And then eventually order flow comes in and these things start exploding. But again, it's our job to kind of find the right place. The right place for our capital, the place with the less resistance as possible. And right now if you go through technology for the exception of the video who's continuing to be an incredible stock at a really aggressive move towards end of the day, we'll get to the individual pivots. I think that right now they're just dead money. That they really are, they're dead money. There's nothing, there's nobody could turn around me and say, well, I need to be long Tesla for tomorrow. Why? Why do you need to be long Tesla for tomorrow? It still looks fine, right? It still looks fine. And ironically, as I'm saying that now, there is a channel that we're still watching because it is hugging the five day moving average, but it's still 10, 12, $15 away from where I need it to be. Like somebody turns around and say, I have to be long Amazon tomorrow. Why? Why do you need to be long Netflix for tomorrow? Why do you have to be long Apple tomorrow? Why do you need to be long Facebook tomorrow? And that's kind of the point. I think these things are dead money right now. Eventually they will either wake up to the upside or wake up to the downside. And as much as it pains me to say so, because again, this is kind of where my bread and butter is and kind of where my lane is, you got to look at other places. And there's a lot of really good places to look at. There's still a lot of names coming off the bottom channels, whether they're beta or whether they're a $2 stock or whether they're a $30 stock, their names that are coming off the bottom channels. And if those names are confirming, those are the names that are going to get the money flow because that's where the speculation money is. The AMCs of the world, the game stocks of the world, they're fueling these other crap stocks. And I'm sorry, that's what they are. There are crap stocks, no matter what you say about them. Nobody needs to be long these stocks, but this is the right market at the right time, at the right place, and they are getting a lot of shine. So if you look at a lot of names that are coming on the bottom of the channels, like look at a stock like AI, right? Like check this out, this thing has been dead for months and months and months. This is the first close today after all the supply. Look at the big bar here. And granted, they do report tomorrow after the close. So is it possible we get one more day of a run up? Absolutely, like I'm not looking to take this thing into earnings, but if this thing starts confirming this whole channel here for tomorrow, why can't we get a $234 move, right? The stock is up $10 today. Why not get another $234 move tomorrow ahead of earnings? A name for example, like MVIS, who's had a really, really big move on Friday, had a, you know, came back down, they engulfed Friday's sell-off. And now it's literally like a day away from, you know, really waking up again. If you guys remember during the weekend update, there was July, I think it was July, $25 calls. Like if they start reclaiming, you know, claiming this top of this channel here, why can't this thing wake up? Even a name like BTX that somebody brought to our attention in the live webinar. This thing had a ridiculous run. I mean, I didn't notice it until like today, but this thing apparently had a ridiculous run in April, right, literally went from where? From what, six to 70, okay? Look how it's coming out of this channel here, right? First day over the 10-day moving average. If it reclaims now the 50-day moving average, again, nobody's saying it's gonna go to 70, why can't this thing go to 20? So there's still value, maybe not the traditional ways that I would be looking at the market right now. But again, beggars can't be choosers. And like I say all the time, it's not the market, you know, we don't trade the market we want, we trade the market we have. And if you do, you're digging today, you can still find ton of value, maybe not traditional names, but definitely ton of value. Something that you can allocate your funds with a pretty good risk-reward ratio because they are coming off the bottom of the range. And if they do confirm, you could get a second or third-day room depending on how much you remove. So let's talk about today's session. Today was kind of cool. It was a very seamless session, but it wasn't in one of those traditional ways. There was definitely natural pivots. I find myself more and more every single day. I know a lot of you guys in the live webinar kind of feel the same. We're starting to get really aggressive balances from bottom ranges. So for example today, at least my best trade of the day today was in the video off the 60 minute, right? So if you look at the wedge here, and if you look at the wedge here, let's take these two candles out. This was the rise in support. You guys remember we talked about this on the video. It got back into the rise in support, reclaimed and really just went, almost went green on the day at one point and then later in the day, so these bounces are working really, really well. I think for the stocks that are strong, the high probability is the bounces just because we're not getting the really big aggressive order flow that is taking these tech stocks higher. So you have to kind of play either middle of ranges or kind of these bounces to kind of get some flow, but other names are working really, really well. Let's talk about today's pivots. ZS, I am still watching this area. Baidu got upgraded. Baidu, the worst thing that happened today was Baidu that he got upgraded. It really is. It completely messed up the whole trade. I've been talking about Baidu for a couple of days off that 198, so it opened up, put it up pre-market high of that 202.50 level, so 202.50, 203 needs to build. I thought there was a shot it could get to 208, not even close. Baidu, here was that opening range high. It took out this whole 202 level and went to, where'd it go to 204 and change? Not a big move before it completely crapped out. This gap up today really messed up the trade. As yet, I still like the trade right to the 157 level and kind of died out. Neal, guys, great job for Neal. It still looks really, really good. It got upgraded this morning, 4030 needs to reclaim and build those pre-market highs. We saw today 42, 45, really short-term expiration, big, big move, close pretty much at the highs of the day. I actually caught a dip in Neal earlier if a little bit more cash flow, but this thing is a monster. There's a shot if the market continues to be good and speculation money continues to roll in. If this thing starts taking out today's channel tomorrow, hey, why not? Maybe you get a move to 45. I think the play here is if it opens up lower and starts testing the rising 60-minute support, I'd like to get it there, like we did in the beginning of the day today. And who knows, this thing goes red to green, we could possibly see a $45 move. Tire, not a big move, 24, 2430 needs to build. They were coming in for the 30 calls, not a big move at all. TIGR, here's the 24, 2430, only went to 2470. It still looks higher, but nothing really great there. This was an end of the day move, 5652 needs to build on the video. Again, this is the only tech stock that's actually outperforming literally everybody. So here is the 52, right? Took out the whole 52 area, put up like a $3 candle into the close. I still like it, I still think it's more upside, especially if the rest of the group wakes up. So that was in the video, Tesla in the way near. Nice move on Boeing, 252.75, 253 needs to build. Here was Boeing, right? Here's the 252.75 traded as high as almost the 256. Boeing still looks higher. They were coming for the 260, I believe 260 weeklies. AMAT, again, AMAT 139.75, 140 needs to build. Stock enjoying, pretty big run-up. So cash flow trade only. So here is AMAT off the 140 area, traded right to supply here at 142 and change. Again guys, it's incredibly important to understand we are supply zones are take on the way up, beautiful take on the way up, blah, blah, blah. Again, 330, I was looking for the cues, possible Washington 330 never got there. But again, we'll see what happens there. 42 on deck on Neo, and I believe that is it. So going into tomorrow, I would love to see beta wake up, technology shares wake up, would be great. Zoom came out with earnings. The question was, was it priced into the shares? Was the euphoria, the growth story over? Apparently I use Zoom every day. I know everybody that I know uses Zoom every day. And even if everybody's back into the workforce, I don't think this is a flash in the pan. I do believe in the company's future just because it's such a really good, intuitive user friendly product that people are going to continue to use. Maybe you're not gonna get the rabbit growth that we saw during the pandemic. But as you can see, Zoom is actually doing well. After hours, hey, maybe we could get an opening range trade there as well. So guys, have a great night everybody. I can't believe tomorrow is already Wednesday. Go Nicks, right? Go Nicks. Guys, have a great night everybody. I'll see you tomorrow.