 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 AccessToTrader.com Nightly Wrapup Show. Hope everybody had a good weekend. Hope everybody had a pretty good trading day. And that's the whole point. The word is pretty good. Tell me if you've heard this before. The market did absolutely nothing today, right? This has been going on now for quite a long time here. Since March the 5th, it's March the 24th, we've been literally going sideways the whole month. And the most interesting part about this whole, kind of this whole market, and this is again why we don't trade the market. We trade individual setups in the market, but what's amazing about this tape is just when the market gets above, right? It starts building above the top of the range here, they failed. And they've failed now several times getting above this range. But the most ironic part about it is since they fail, you know, two, three days later, they get back down to the bottom of the range and then they defend. So this has kind of been going on, you know, going on now since the start of March. You know, the hope is that earning season will get it out of the range either to the upside or to the downside. Tomorrow you've got Super Tuesday, you've got a whole slew of S&P 500 company, Nasdaq names reporting. You've got Microsoft, Google, you've got Visa, GEE, Chipotle, Spotify, triple N, UPS ahead of the bell. So you have a lot of, you know, you have a lot of data tomorrow. You know, are these companies going to, you know, going to underwhelm their earnings? Probably, right? We all know, you know, we all know, you know, what the economy has done, but we also know the economy is in our mirror image of the stock market. Sometimes it's six to 12 to 18 months, a trailing indicator. The one thing we do know that we talked about on the weekend update is that, you know, so far technology has super underwhelmed. You had Netflix, you had Tesla, tomorrow again, the big ones are Microsoft, Google, Chipotle and Spotify in the technology space. And then Wednesday and Thursday, you have Amazon and Meta and all that good stuff here. More important kind of what happened, if you guys remember, Elon's brother was making sales prior to Tesla's earnings today. Microsoft got a pretty, you know, pretty ugly downgrade this morning, you know, you know, about $3 off its lows, but still got the downgrade. If you saw the options market today and all the, you know, all the mega cap names, we saw 150 weeklies, 155 weeklies for Tesla puts. We saw 140s in June. We saw Microsoft short term expirations coming in for the 270, 275 puts. We saw some 90, 95s coming in ahead of Google's earnings. So it doesn't feel like there's a lot of excitement in this quarter. Again, Netflix and Tesla really didn't disrupt that notion, but so far they're betting to the downside. What are these stocks surprise and have a great, great quarter? Absolutely. You know, if Microsoft, Google, Apple, Amazon and Meta can't deliver on one of that, well, what are we talking about here, right? But, you know, we are still seeing some frowned upon bets, short term expiration ahead of earnings on all these names. But at the flip side is kind of what we talked about. The index is not moving. So every single time we think the market's going to go one way, the market doesn't. And every single time we think the market is finally going to start expanding, everybody unfortunately gets disappointed. And that's kind of where we are today. Another interesting take, what I saw today from the market, well, it was Tesla, right? So we've been talking about for the last couple of days for potential, you know, earnings low play on Tesla. We got that today, right? Tesla started breaking down below this 160, 50s level. The odd part about this trade stock came in a couple of points. That's not the odd part. The odd part was the aggressive put buying that we just mentioned a couple of minutes ago that we saw on the taker of the next couple of weeks. That more odd part about it was how orderly they were moving the stock down. There was a buyer there pretty much every 50 cents down, right? 30,000 shares, 40,000 shares. Now again, the speculation is maybe it's Elon Musk buying back stock, maybe it's Cathie Wood. Does really anybody really care what Cathie Wood is doing? I mean, honestly, she's in underwater in so many positions. Does it really make a difference of Cathie Wood's buying the stock? I don't really believe it is where a $30 million price targets maybe goes there, maybe a dozen, but there was definitely a notable buyer today. And the most weird part about it is usually when a stock takes down the earnings low, it's usually pretty much like a waterfowl effect. You probably get like $3, $4, $5, $6 out of the trade. The way they were especially betting today with six figure bets to the downside. But the buyer held up. It's going to be very interesting to see over the next couple of days that if they can't price improve on this big buyer coming in and holding up the stock here and they start retesting those levels, then I think Tesla will see its next leg down. But it's going to be very interesting to see going into tomorrow's session of kind of what happens, right? What happens the day after that buyer was accumulating a lot of shares? Names that we talked about on the video, you know, they did crack, right? You're definitely still getting opportunities here in the tape. You had AMD that we discussed on the nightly video, finally lost the 50-day moving average. This is the first close below the 50-day moving average. We talked about AI over the weekend, how AI finally closed the lowest close in the whole formation, got a double down rate today, traded all the way down to the 17s when we talked about measure potential. But then we saw a lot of stocks still defend, right? Like NVIDIA defended the 20-day moving average. Names, for example, like Amazon that had a really good run, they got a little bit weaker, but not weaker enough to crack the previous day's range. So we're in a very, very, like I said, even a couple of weeks ago, we're in a very, very unique market. I think that's the best way of saying it. I think if you're looking for some sort of closure in these indexes, you're probably not. And again, it's very, very unpredictable to kind of sit there and try to kind of, you know, smash your head against the wall trying to figure it out. You don't need to. I think before we know it, and again, granted, to be honest, this is taking a little bit longer than I anticipated of a consolidation channel. And I'm trying to read the tea leaves. All we're doing is getting a lot of mixed signals in the process. But hey, again, this is the market. And this is the market that we have, not the market that we want. It's going to be interesting to see tomorrow how the market reacts to Microsoft, to Google. Are they going to set a tone for the next day? Probably, right? Probably. I would love either for both of them to beat numbers or both of them to miss numbers. Because the last thing we want is to go another day and say, well, guess what? Microsoft beat, Google didn't, and the market didn't move. Right? We don't want that. We want some sort of closure. We want a definitive way that especially the technology names are going to travel the next road. And we want a definitive view, especially on the closing price. Obviously, today, we did not get that. But again, we did get some pretty good moves. Roadblocks came in. Again, we talked about roadblocks for the last few days before the range. If you guys remember, it gapped down on its lack of metrics. Today, this is the lowest close in the whole formation. Keep an eye on this thing. It's taking down tomorrow's channel confirmed today. It's going to go lower. Game stop, we started talking about over the weekend. Again, first close below the 50-day moving average. Again, the 50-day is kind of a big deal. All you need to do is see what happened here, first close over the 50. And then what happened was two more days worth of downward acquisition. And just like every other stock, some names, you know, I definitely want to pay attention to tomorrow. Number one, I want to see how the banks are going to react tomorrow. FRC came out with earnings after the bell. It's not the point of their earnings. That's a big deal. It looks like they actually beat earnings. The troubling part about this is their deposits were down 40% since this whole, as you can imagine, who's going to start putting in money on a potential bank that's going out of business. But again, the market is selling the earnings because the deposits were about 40% lower than the previous year, which honestly, again, doesn't really make sense. Everybody should have kind of anticipated that, but it's going to be interesting to see how the regional banks or just all the banking sector is going to react. So let me give you guys some names that I'm definitely, definitely watching for tomorrow. Again, hopefully we could get a little bit more clarity after the Microsoft Google numbers. Coinbase. Right. Coinbase is sitting on the bottom of the range here, guys. Take a look at this thing. On the bottom of the range, short-term expiration came in for the 50s. So definitely, definitely watch on Coin. If it starts losing this bottom channel here, this thing can get hit. TGTX, $20 name. Not really familiar with it. It looks like a biotech name. It's flagging nicely. This really, really big run-up above the 50-day, consolidated for the last two and a half weeks. Keep an eye on this thing. This thing starts taking out the top of the range here. This thing can wake up. That looks pretty interesting. ISRG in the prosthetic robotic industry had good earnings and now it's just kind of going sideways. Keep an eye on this thing for the next couple of days. If they start building above this flag, it can rally. Tesla, you know what? I am going to watch both ways. The fact that that buyer came in today, the fact that the buyer did come in today, I want to see if they could push it above the previous day's range. I'm not looking for a two, three-day move. I'm looking for a trade. I'm looking for a trade. Let me show you. You see this 60-minute channel here? This whole 60-minute channel, the last couple of days, it's getting pretty tight here. If Tesla can get above that channel, I think we might be able to get a kind of a bounce back day in it. But at the end of the day, remember, we're still looking for a next leg down. If they do start taking down the bottom of the channel, again, maybe this is a one-day thing that whoever the buyer was finally got cleaned up today. In case he doesn't, I want to watch both sides. But in case he did get it cleaned up today, I want to watch the bottom of the range here today because if they do start cleaning down with all those heavy put buyers come in, we could see finally a wash into the 50s. So I kind of want to be a little bit flexible on both sides of the market. So that's it, guys. No news is good news as far as technology goes. The market definitely feels like it's waiting for something. I don't know what that something is, but again, we're waiting with it. Guys, God bless. Stay healthy. Stay in business. And I will see you guys all tomorrow. Take care.