 It doesn't take many names from us. That's the coolest thing about trading high beta names, average true ranges that expand. You only need to catch one, right? You only need to catch one. 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, everybody. Good evening, everybody, and welcome to another edition of the Access to Trader.com Nightly Wrap-Up Show. Everybody's doing well. Hope everybody had a good day of trading. What I like today, what I like about today's session, this is when you know a market is very, very healthy. Number one, indexes take the day off, which is fine. Again, if you look at the indexes, nothing earth shattering is going to come. We're in this tremendous, tremendous cycle that started out a long time ago on all the indexes, and the Qs, the S&P, the S&P, and especially in the Dow. And somebody's going to turn around and say, well, you know, the Dow is getting a little bit heavy. It's down now four days in a row. OK, that's fine. It's been down four days in a row. You look at the weekly chart on the Dow. Again, there's nothing really to turn around and give you any inclination that this is a longer term effect. Again, anything is possible. We could be having this conversation tomorrow night and say, wow, the Dow is down to 600 points. Who could have seen this coming? But from the trading aspect of it, you kind of like what the indexes did today, because number one, the last thing you want to see is a scenario too far too fast. And we talked about last night, and pretty much every video for the last couple of weeks, is you always want to keep an eye out for a big pull. You don't want to be long anything overextended, because again, anything extended, they're the ones that get pulled first. But what I like, what I saw today was the names that broke out yesterday, the heavy, really big movers, all they did today was they back tested into rising five-day support. That's the shortest term interval. They held that rising five-day support, and they rallied back up. So again, case in point. Tesla had a phenomenal, absolutely phenomenal break I guess today, or at least phenomenal move. Huge, huge move today. Stock, all it did today was retrace into the five-day moving average held, held. Stock was up 22 points yesterday, 20 points yesterday. Stock was up a buck today, right? This is its rest day. Keep this in mind, this is its rest day. So now we need it to kind of go sideways for the next leg up. You look at a name, for example, like mRNA, right? mRNA did exactly the same thing. It broke above this 414 level, put in a high, all the way to 440, all it did today was put an inside day on half the volume bar of it did in the last few days. This is super duper bullish, right? Look at the move off the bottom. This is an inside day, very, very bullish. Apple had its next leg run, right? Next leg run a couple of days ago. Look what it did today. Is this a coincidence, or is this something that the market is telling you that it's organic in nature, that the bulls are still in control, and they're pretty much giving the bears at least at this point. Again, anything can change. I'm not, you know, naive to think anything can change on a dime and we'll get to that in a second. But, you know, it looks like the strong names are just kind of back testing, trapping shorts on the shortest term sentiment, which is the five day moving average, and bouncing right back. Now again, is everything like that, is everything as strong as hell? Absolutely not, right? For every Amazon that it feels like the stock will never have another downtick again. For every Netflix that looks like it'll never have another downtick again, there is pockets of weakness, right? And kind of going into tomorrow's session, as much as I don't think there's technically any red flags just yet, there are some notable stocks. And again, if you go through your research and you go through the NASDAQ 100 members, you'll start seeing, there's a lot of semiconductor names, there's a lot of names in the stay at home stocks that look really, really, you know, to the point of this ice cracking underneath their feet. And I'll give you a perfect example. Look at a stock like AMD. AMD had a phenomenal, phenomenal run, right? I don't think anybody could question it. It went absolutely bananas, especially from the July 19 lows all the way to like 123, huge, huge run, right? But this is the first close below this rising daily support of the 20 day. Is this something to worry about if you're a long-term shareholder? Not yet, right? Not yet, but there is an opportunity if there is another day of weakness in the market that AMD could get hit, right? You look at a name like eBay, right? Look at a name like eBay. eBay's kind of the same thing. Had this really, really big run up, right? It held its 20 day rising support. But again, what happens if there is more weakness tomorrow? What happens if this channel starts confirming? Again, the market can go down to, you know, allegedly, right? So you have to keep an eye on that. A name like Boeing, which is obviously a Dow sensitive stock, this thing is very, very close to meeting the bottom of the range here and really, really starting to sell off. Now let's go to the names that were, again, the stay at home movement stocks, right? Look at Zoom. I traded some Zoom today, nice little pull today. It's finally got rejected off the five day moving average. Remember, if the five day moving average is a short-term sentiment, right? For names like Apple and Tesla and Moderna to hold back to the upside, well, take a look at Zoom. It's gotten rejected three days in a row off the five day moving average, right? What's good for the goose must be good for the gander. So now if Zoom starts confirming this bottom channel here, why can't this thing retest its earnings low? Look at a name like Docu, for example, right? Same thing, you know, same group, same thing, right? It looked like it was about to break out a couple of days ago and yada, yada, yada. Well, it didn't break out a couple of days ago and now it's faced with the bottom channel here to see if the market gets pulled and if these stay-at-home stocks get pulled with it, right? So you have to be prepared on both sides of the market. I don't, for example, I don't believe that there's going to be like this clear bias going into tomorrow's session. I have some long ideas. I definitely have some short ideas, but the most important part is I have no expectations for tomorrow. And again, when you're pressing the gas very, very aggressively, you better have a very formulated opinion that needs to be confirmed technically with a lot of money flow. Although I did see, for example, a name like NVIDIA, we've been seeing weird out-of-the-money call-buying on NVIDIA, right? It doesn't suggest that it has any reason to turn around and go higher at any given point, but we're starting to see short-term expiration like two weeks out of the coming for the 230s, the 240s, the 245 calls. Again, either somebody knows something or somebody's really taking a shot that this bull market eventually continues. Now again, there's two ways you can bet the options market. You could buy bet the options market via, let me guess what happens next, or let me bet the options market via technical break. Right now, what I saw for the last couple of days on the NVIDIA, these guys are betting $20 out-of-the-money with two weeks left of expiration like they know something's gonna happen. Maybe they do, maybe they don't, but the point is we don't guess for a living, we accumulate data, right? We trade off that data. So that's something that I kinda wanna have on my back burner if it starts going back to the upside, but I don't have any great feel. And if you look at the names, on the short side, they're valid, a name like Starbucks maybe to the upside, looks pretty good, really good-looking chart on Starbucks. That looks pretty good as well. Even a name like Carmar, CarMax, right? Again, I understand that the whole used car market, rental car market, because of COVID, nobody's produced one. You can't just go to a dealership right now and just say, I want this, I want that. It's very, very tough to get everything. So I get the whole premise behind this trade. But again, for all you guys who love these, three-letter stocks that are confirming about the 50-day movement, there's some value there for you. So the most important part kinda going into tomorrow's session is have an open mind, right? You might get surprised and you might get a second-day run on Moderna, on Apple, on Tesla. Or are you weak? You just turn around and say, hey look, we're in those channels we were talking about to the downside on Wednesday. You know, let's watch them. You know, let's watch them through the downside just in case there is a pull, just in case there is a technical confirmation especially on these stay-at-home stocks. Maybe there's somebody that wants to bet heavy in the directional bias. For example, on Zoom, you know, they came. I mean, they came for the September, I think it was either the September 17 or September 24th expiration of the 280 puts, right? I know what the bottom channel looks like. The earnings lows are right in front of us. So this starts taking down the earnings lows. Again, we could get big value there. It doesn't take many names folks. That's the coolest thing about trading, you know, high beta names, average true ranges that expand. You only need to catch one, right? You only need to catch one and you don't need to start sitting there with 30 different stocks on your table. As long as you're prepared and the price to action tells you're right and if a perk, right? If an added benefit, you get the options market betting the same way as your premise, you can find something really, really good. So going into tomorrow, you know, I'm 60, 40, right? 60, 40, bye bias. But again, I have no great feel for tomorrow. I'm really open minded to trading both sides. Obviously, Tesla, we want to continue to watch that rising either daily or 60 minute support for entries that keep on trapping Moderna as well, Apple as well. But again, on the other side of the equation, I do like several names that are on the short side as well, so we'll see. We'll see what happens. Again, not huge, right? Not a huge amount of pivots today. You have a lot of, when you have a lot of names that are resting that have really, really good runs, you're gonna have to kind of, you're gonna have to have a little bit of different ways to kind of manufacture things. The one thing I apologize for all you guys who are just on the Twitter feed, I forgot to put the square pivot in. I forgot to put the square pivot in on the feed. I put it on by accident in my regular feed. That 261 pivot, if you go on my regular Twitter feed, that 261 pivot just got absolutely murdered, like really, really murdered. And this is the first close below the 50 day moving average. So I apologize for all you guys obviously in the webinar. You know, you got exposed to it there, so I apologize for that. So Apple all it did today was base, come back into the 155 area and held the five day, came back. Tesla came back to the five day moving average. So Apple held, snapped back. So you can see a lot of strong names. Same thing with Moderna. Facebook, I like Facebook. I still do. But the problem is the stock didn't confirm today and it didn't do anything for as far as price action would have etched his concerns. You can see very, very light day as far as natural pivots. Remember we told about AMC yesterday and I said, look, hey, I'm not drinking, man, right? First thing I say yesterday on the video, look, I'm not drinking, AMC looked good. And I said, look, day trade only, right? 48, 48, 30 big area could see a push in the 4690s if all planets aligned. Now again, as AMC to the mood, I'm not with that, but there was a trade, right? There was a trade and the stock took out this 48 level, 48, 30 and the stock went to 49, 40, right? I said 49, 60 as if the planets aligned, went to 49, 40. You had basically a $1.50 pop in this thing very quickly. If you look at the, right off the open, right? If you look at right off the open here, look at this pop here, it looks a little more dramatic on the five minute, but you look and see this really, really aggressive pop here on AMC with volume. So again, is that the worst trade in the world? Probably not, so not a bad thing. But again, know what you are up against, right? This wasn't a swing trade. This wasn't, hey guys, this thing could go to 60. It's a movie theater, man. All it takes is one damn thing to happen and this thing is game over. So again, day trade only, great job for all you guys who caught that as well. Airbnb, not a big move. Again, it still needs some work. It ran up about a buck, nothing really crazy there. The market sold off, it kind of sold with it. Penn, nice little spike. Again, remember, 85, 60 rejected two times, needs to build for the next leg up. Remember guys, this is just continuation. There's only one breakout for the stock. If you guys remember a couple of weeks ago, right? Penn broke out above the 75 channel. So 85, 60 got rejected twice, basically ran up about a buck and then everything reversed. So remember, it's only one breakout. There's no such thing as a stock's breaking out every day. So only a buck moved there. And again, this is basically what I said. Swing trades are not set up every single day, right? There's only one breakout on the chart. For example, Moderna, 414 was the breakout. Tesla, 730 was the breakout. Everything else is just continuation. So remember, not every single trade is built the same. Not every single setup is set up the same. So you have to really know the difference between a breakout or a continuation pattern. Again, stock only breaks out once and everything else is all continuation. Again, here's the diamond hands, right? Here's the diamond hands. Nice push there. A shorted zoom, it ran down about three and a half bucks. It held that 290 level twice. Nice little move, nothing crazy. But here was 94. Here is where the 94 pivot came from. If you notice here, 94 was the low on this five day. Remember the five day, right? It took out 94, went down to this 90 and change area. Why is that important? Because it held this 90 and change levels several times. Now, if it starts building below that 90 and change level, then we got something more. And then we're gonna have on deck the earnings lows for Zoom. I kind of like, I know I really, really like that setup. Disney never got to the 87, 60 level. Boeing, nothing big yet. It's almost ready. It only went down about 60, 70 cents. Two 11 area, I still think it needs one more push, especially if the diamonds get pushed out one more day. Auto desk, I like, never came close to there. Take on the way down, right? I mean, ran down about three and a half dollars. Amazon stopped right at 34.96. Obviously never flushed down there. Nice move there. And you know, talk about a nice move. Again, folks, this is what I keep on reiterating to the point. If you're gonna trade small caps, especially people in the webinar, kind of figure this out by now. The small cap names that are really going, it's not because some guy on Twitter is going, yo man, it's the next one to go. No, not that, right? That's all nonsense. The smaller cap stocks that are moving are getting nonstop order flow in the options market, deep out of the money calls. We just started seeing there. We just sat there watching, they were coming for the September seven and a half calls on repeat at one point. Repeat, one after another after another. And I basically said, look, the small cap player is 630 rejected three times. If it confirms can wake up again, they're coming for the September 17, 750 calls. And this thing, you know, nice spike. You know how to put up a 40 cent move, right? Put up a 40 cent move right into supply. I mean, really nice move. Again, it doesn't matter if you're trading Amazon en route, right? A pivot is a pivot is a pivot. So a nice pop for all you guys who took that as well. And that's it, right? That's it. So look, and not every single day could be super aggressive $9 here, $12 here, $4 here. Sometimes the market needs a rest. Sometimes you need to kind of re-center yourself, refocus yourself and kind of start looking at the big picture so you're not kind of bamboozled, right? You're not kind of sidetracked by that, you know, SUV that's gonna run you over and you weren't prepared for it. I'm prepared for both sides tomorrow. Can we go up tomorrow? Yes. Can we go down tomorrow? Yes. See, you don't get this hard hitting technical analysis anywhere else. Guys, God bless everybody. Good night. Have a great night. God bless. I'll see you all tomorrow. Take care, everybody.