 Who the hell doesn't think Apple's gonna have a good quarter? Who doesn't think Amazon's gonna have a good quarter? We know the numbers are there. We know the money's there. The question is, what happens on the price action after they announce? 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 weekend edition of the Access to Trader.com weekend update show. Hope everybody is having a beautiful weekend. As you can tell, short sleeve, beautiful weather, kids basketball soccer or softball games, dogs running around, me running around. That's what life is all about. So hopefully everybody is healthy and happy and having a good start to their spring. So let's talk about the tape. So we had a big, big run, just a quick review, huge run in the queues that were, took out a two month distribution pattern, big, big eight day run. We kind of went sideways. And if you guys remember it towards the first part of last week, we had kind of a nothing market in tech link. You know, a lot of names rallied and a lot of names were just tired. And they didn't mean that the market was gonna collapse. It just meant that there was some profit taking and there was going to be a little bit of a back test. And at the same time, as the names that were rallying or resting, a lot of the names were being pulled up. And you saw a lot of that really, really good action by second and third tier type of companies. And slowly but surely, right around Wednesday, we had the first sign that technology finally woke up. You guys remember that? That's when Tesla had this real pretty big run into the 740s. And the video turned around, Apple turned around, Facebook turned around. You started getting a heartbeat again. Something that we didn't see for the four day distribution of the profit taking that was going on. So that was really great. And we finally had, if you guys remember Thursday's, Thursday's update, excuse me, Wednesday's update, I talked about the next day could have been a really big premium day, like really, really big premium day. And we were ready to go for that. And right when we started reclaiming pretty big numbers here that we haven't seen on the five day moving average, and we were approaching that 340 level on the queues, that's when like that ultimate frisbee, right? Excuse me, that ultimate curveball kind of hit the market, that kind of mini grenade that Biden turned around and say, well, here's our plan. We're gonna tax the hell out of the wealthy or quote unquote, the wealthy. And there's gonna be a pretty big increase in the tax structure up to like 43 and a half percent, whatever it is, at that point it really didn't matter. And the futures is completely imploded, like really, really big. And you had that move on the queues that took out the previous channel all the way almost from the 340 area all the way down to 334 on one candle. So you're talking about a $6 candle on a pretty aggressive headline. And going into the next day, okay, which was a Friday session, the question was, well, was this just a knee jerk reaction? Okay, or is this just a kind of the next phase of more backtesting? And the one thing that Wall Street doesn't like is uncertainty. And you started seeing slowly but surely headlines starting to come across morning, right? The morning of Friday, mid morning on Friday that, well, wait a minute, maybe this is just not as cut and dry as a pretty big increase. Maybe there's gonna be a smaller increase and this will be a whole bunch of concessions and all of a sudden cooler heads starting to prevail. And you can see that in the morning session. We went down a little bit and started moving sideways for like five, six candles in a row from the overnight cash session. And then slowly but surely as people started digesting this information, well, wait a minute, maybe it's just not as simple as, we're gonna say a big type of tax hike, anybody who's in this category is going to be bent over, let me keep a PG. And moral of the story is, there's something, there's something that could actually be pretty salvageable, right, on both sides. And what we saw the day before, right, that big rally and that confirmed confirmation, the stock market has a very, very short memory and all of a sudden that headline that looked so aggressively bad for so many people, right, all of a sudden got negated. All of a sudden the feel good story about the Q's reclaiming supply overtook that headline that again, if you are a cooler head, prevail type of person, you always realize that again, there has to be concessions. It's just not as simple as the president going, okay, we're gonna raise taxes, okay, let me, you know, I'll pay whatever you want. There's a lot of back and forth. There's obviously two parties involved and it's not gonna be as easy as pass as people think. Maybe it is, maybe it's not, but I don't think it is and hopefully that's the reality. So the market started to playing out what we saw more on the Wednesday and the Thursday session than what we started seeing on that single candle into the close on Thursday. And slowly but surely not only did everything wake up, right, that everything was waking up since that Wednesday session, not only did we wake up, but we actually took out the previous day's higher, higher than the Joe Biden candle and put in the highest close in this whole formation, reclaiming the five day moving average. That's super bullish, right? Again, there's certain times that you can turn around and say, well, let me make a case for the bull case. Let me make a case for the bear case. It's like that first time that we closed below the 50 day moving average. In that video, I said, look, there's nothing to talk about. We closed below the 50 day moving average. That's bullish, right? Unless something really, really crazy comes out that it's a sell bias market and until further notice that we started selling off for the next two weeks, we reclaimed the five day moving average. Again, anything could happen on Monday, right? We could have some crazy headline that's gonna turn around and say, well, we're going into a deeper recession. We were off, the vaccines don't work, we're locked down, anything can happen. Obviously I'm being a little more theatrical here for the effect, but the point is anything can happen. But on the surface, if you look at what is happening here, this is the first close over the five day moving average in the last five days that is bullish. We had technology earning season officially get underway last Monday with Netflix. Nothing great there, right? Nothing great. And the question was, was technology going to be affected? Was this going to be like the first domino to fall on earning season? And then we are going to start retesting some more aggressive levels. Obviously the cues and the members of the cues, they answer that, right? If you look at a lot of names where they started off Monday, well, they closed Friday on much higher levels, reclaiming a lot of supply zones in the process, that's a good thing. Going into this week, of course, yeah, I mean, I'm definitely bullish at least start the week. Again, there's no reason for me not to be bullish unless, again, I'm recording this video at 2.30 in the afternoon on Saturday. You're probably gonna get this video at some point either Saturday night or Sunday morning. At that point, a lot of things can happen. For at least this juncture of my life, things look really good. And if you look at setups for Monday, you have a lot of really good looking setups. And obviously the catalysts are going to be technology earnings Tuesday, excuse me, Monday. Monday you have Tesla starting off the week. You can love Tesla, you can hate Tesla. It's a buzz, right? It's definitely buzz. This is kind of like when Microsoft and Intel and Oracle and Cisco were 20 years ago, right? Nobody cares about those stocks anymore. I'm joking, people care about them, but there's no buzz, right? Tesla's a buzz, they hate the stock, they love the stock, they love the car, they hate the car, they love Elon, they hate Elon. It's a buzz. And Tesla was a fantastic trader this whole week on the short side on headlines, sneaky pivots to the upside. It was a really, really good trader. And the key going into this headline is obviously the delivery numbers are always there, but it continues to be a growth story. Wall Street loves a growth story. They love paying for potential. So even if a company doesn't meet certain financial goals, but the trajectory is still higher and the growth is still there, Wall Street tends to give it a pass. Again, it's like Michael Jordan, greatest best wall player of all time, right? One of the worst executives of all time, drafted Kwame Brown, right? Number one out of high school. Kwame Brown, the potential, we're paying for potential. We love the potential, he's 18, 19. He ain't no Kobe Bryant, he ain't no Kevin Garnett, right? He ain't no Tracy McGrady and all the other folks who came out of high school. So again, potential growth potential is still there. Will we see some crazy number coming out of Tesla? We shall see, said the blind man, we shall see. Tuesday you have huge earnings coming out of AMD, Microsoft, Google, Wednesday you got Apple, you got Facebook, you got Boeing, Thursday you got Amazon, you got Twitter. So yeah, this week we will definitely get a pretty clear direction of what's gonna happen within at least in the next couple of weeks with technology, if not the rest of the market as well. And if earnings are good, right? So for example, who the hell doesn't think Apple's gonna have a good quarter? Who doesn't think Amazon's gonna have a good quarter? We know the numbers are there, we know the money's there. The question is what happens on the price action after they announce, right? That's the one thing nobody knows. So you could literally, for example, you could literally have the numbers in a company in your hand. It doesn't mean the stock market's gonna react to those numbers. So it's very, very important to see how technology performs this week as far as earnings being an analyst and we'll definitely have a peak going into next week. But if you look at some of the setups for this up and coming week, you got a lot of value. I literally tweaked out this about an hour, hour and a half ago, I finally sat down to do my chart work. I was just exhausted last night and this morning, my daughter had a, tell us, she had a softball game. She has another softball game and my son has a basketball game later as well. It's crazy. So I finally got a chance to sit down and I have to tell you, there's tons of value to the upside, just ridiculous value to the upside. And you have Amazon reporting in a couple of days and you can see this really, really big channel. So Amazon could just get above this channel can maybe give us, they report Tuesday night, right? So maybe give us two full days of rallying ahead of numbers. This is a big channel here, one, two, three, four. Monday will be day five of consolidation. If they could take out that channel, maybe it gives a pretty big run. NET and again, congratulations to all you guys who took that 80 break on the Twitter feed and in the webinar on Friday, this 80 break had a big move, right? If NET can start confirming yesterday's channel Friday's channel, maybe you got another $3, $4 pop here coming out at the area, look at maximum. One of the nicest semiconductor charts I've seen. Look at the consolidation. This is a consolidation going all the way back to January, right? This is a six month consolidation. And if you've ever watched any of my workshops or anything, you know, I say the longer the distribution, the higher probability and the strength, the move will be in that direction. So big move there. You have Apple ahead of its earnings itself kind of going sideways, but who knows? Maybe Apple goes on a two, three day run ahead of earnings. You can see the channel here. It's pretty plain as day. If you look at the 60 minute channel, it lines up pretty perfectly to the daily. So that looks great as well. Even stocks off the bottom, right? Names, you know, recent IPOs this year. You had an AI, right? You had a really good introduction to the world. Then sold off from February pretty aggressively. Sold off from what? From 170 to where? To 70, right? Lost 100 bucks off its value. Look at this channel here. If it starts taking up the channel, I love bottom channels because everybody's leaving these stocks for dead. And if they start confirming back up, look how much room it has to the upside as well. Even a name like Tiger that has nothing to do, for example, on beta, you can see how close. First of all, it had a monster run. So this is your point of reference that the stock could get aggressive after it starts taking out channels. Look at the 50-day moving average. It's sitting right here. If Tiger could get above the 50-day moving average, who knows? Maybe nobody's saying it's gonna go back to all-time highs, but there is definitely a room for a pretty good trade all the way up to the 26th area. So there's definitely, definitely value. And if you do your homework this weekend, you could find a lot of it. Look at Dash, right? Dash definitely benefited from the stay-at-home movement. Do I think this business model is going to be a little bit skewed now since more people are kind of going back to work a little bit, right? Maybe not, it won't be as affected as, like for example, as Zoom is. I think Zoom is a phenomenal product. And everybody uses it, whether you're going back to the office or not. So I don't think it's going to kind of thrive like a Zoom, but hey, listen, nobody cares what's gonna happen in the future. We're just trying to fight and win our interval today. And look at Dash's chart. If they could just get above the 50-day moving average, you have $10, $12 worth of room as well. So guys, we're set up, man. We're set up. Again, you don't need to do a long drawn out kind of update and research. Do your long-bias research today. Get your ducks in order. Put the names that you want to trade right in front of you. If you trade Tesla, watch Tesla. If you don't trade Tesla, well, why the hell are you even looking at Tesla? There's so many good opportunities. The only question is, is the market going to participate and are these channels going to confirm? Other than that, folks, it's 75 degrees. I got another kid's sporting event to get into. Go get some rest. Go get some love. Be happy. Go get some ice cream. Whatever puts a smile on your face. We only have one life, guys. Remember that. There is no mulligans. Guys, have a great weekend. I love you all. God bless and I'll see you all on Monday. Take care.