 but you want to take setups like coin. You see this a really, really tight distribution of all the carnage, right? You want to look at channels that are super, super... 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 day, another adventure in what we call the best reality show that's not on television, the wonderful world of the stock market. Hope everybody is doing well. So last night when I was recording the video, I was talking about, you know, what's going on on Facebook? How come it's getting killed? Obviously the news after I logged off, Snapchat, right? Snapchat, they guided lower, they pronounced. And this is one of the things that we were seeing, you know, we were seeing a lot of weakness, especially in retail. We've been seeing a lot of growth names getting taken down one by one. We'll get to individual pivots in a second. I want to show you guys some setups for tomorrow. But more important is it's not that Snapchat took down the market, it's what Snapchat represented. Anything with ad spending, customer acquisition, point and click, all that ad space, this is what it represented. And it took down as much as Snapchat got killed today. And it did, I mean the stock went lost 40% or so. It took down everything with it. So it wasn't that Snapchat killed the market. It was Snapchat what represented all of everything. We just always talked about it. Anything to do with ad spending, right? They got hit. I mean, Google at one point got down to what? 2037, you had Facebook obviously, a really big exaggerated casualty, Twitter, right? Everything, anything in sight that has anything to do with it, which is basically everything. And again, it wasn't an excuse, it's just kind of what we are in right now. It's again, surprising if you don't know by now, we're into bear market. And usually bear market comes out with bear market news. And again, we talked about a couple of days ago how aggressively the lack of spending in retail really showed the consumer just refusing to give money out of their pockets because of just the cost of living is getting so expensive. So now it's just really trickling down to everything in sight. And again, if you look at the scoreboard, it's not that the Dow that had the big losing day. The Dow was actually up 40 points, right? But again, it's the Nasdaq. I don't care if the Dow trades up 1,000 points. I don't trade Dow stocks. I trade the Nasdaq and Nasdaq down almost another 2.5%, down 270 points. And you start looking on the cues. Again, we discussed now for the last, whoa, Tesla, bad print, nevermind. Bad print and Tesla, nevermind. That's a bad print. Just had to make sure, just because of yesterday, as of yesterday from Facebook, I just had to make sure something's going on here, some bad prints going on, but these are bad prints I can guarantee you. Tesla is not up 60 points after the close. I just looked and Microsoft is not down 10 points. Something's going on here. I don't know what it is, but something's going on. But anyway, if you look at what we talked about yesterday, actually a couple of days ago, where the potential of soft landing, I still believe somewhere right here around this 260 level eventually, will be represented. I think that's where you start making a little bit of a shopping list to kind of see where you want to start looking at some long-term value. But until then, again, you're going to have days that are up, right? You definitely have days that are up, but overall trend continues to be down. And this is kind of what I talked about a couple of sessions ago. If you notice all the up days, right? For the exception of the Fed days, right? You can see exception of the two really big Fed days in the three-week rally. All the other days on this, especially in this last move below the 50-day moving average, you can see that the green days are smaller, right? They're very contracting compared to the down days. This was a Fed day. This is an exception for that. And the down days are exaggerated, right? They're expanding, expanding, expanding, expanding. You could look how small yesterday's, like look how small the other day's channel was to the upside. Look how big the candles are to the downside. So that's what you're seeing. And that's the continued trend until we start at least reclaiming some minor channels. Like at least we talked about this area here, this 295 level on the weekend update. At least if we start taking above this 295 level, then we could start making a conversation of, hey, what happens next? But until then, listen, again, is the market possible rallies tomorrow? Again, I don't care about any individual update. There's just no value. Even a name like Zoom that came out some pretty good earnings today. You know, initially they took the stock down red, right away. Last night, this thing was trading at 108. They took it red today. You know, it got rejected off the top of the range here, went up a couple of bucks or so, but it wasn't a big deal. And that's the whole point that they're not rewarding anything. And that's the whole point. They're selling everything. And if anything comes up with a bid, it's a very, very small and short bid. And that's kind of where we are headed. Just as a somber note, I forgot to do this. It feels like I'm saying this like once or twice now, a month, man, there was another school shooting. I don't know how many of you guys actually heard this. Somebody retweeted this out. In a Texas elementary school, 14 students, including one teacher, 14 little kids, man. And it looks like an 18-year-old came into the school, shot his grandmother first, murdered 14 children and one teacher. I mean, just insane, the world we live in. So again, guys, always take a back, take a back and just say, look, I don't care how bad or good your day is. Man, there's some crazy stuff happening in the world. Just be thankful your family's safe and everything else kind of takes place. But I just wanted to say a prayer for all the, again, senseless crime. It just feels like last week was Buffalo. Now this is just, the world is going to the Hell in a Ham basket very, very quickly. So let's talk about today. Again, Snapchat definitely helped, right? It definitely helped put the fuel to the fire. I was expecting pretty much a very muted day. Again, we're only a few days away from people really taking off. I think by, not by, I think by Wednesday, you'll probably get that last bit of aggression at one way or another. And you'll start probably feigning last Thursday and Friday into a light volume. So I expected kind of a very light volume kind of day today. And because of Snap, really opened, the trap door and a lot of names. If you look at pre-market, a lot of names that I even thought were really overextended as far as their gaps on their average to range just kept on going lower. And that was the kind of the point. So it really opened up everything onto the sun. And when you look at today's action, you started seeing some pretty big moves. Obviously, you can't trade everything. You can't see everything. And the most important thing is just see what you can and just kind of watch for it to confirm. But you had some big moves here. So yesterday, there was a big pivot on Amazon today. Confirmed 2078, if it builds below, can see 2048. So it took out that 2078 and then it took out that 2048, went all the way down to 2025. Obviously, this 2000 area is going to be a big deal because I think eventually if it does confirm this 2000 area, look how much room you have to the Bollinger Band. If it gets down here, you're talking about 1878, 1900. It's going to be very, very weird to view Amazon in losing that two handle. So it was weird to lose a three handle, let alone the two. So this thing still has room down. Again, maybe has a bounce for a couple of days, but I still think this thing goes lower. AMC, we talked about this for the last couple of days, 1140, if it builds below, can flush. They finally started taking it down. That's the most important. They couldn't even save the market leader from falling. So here was AMC. They finally took down this 1140, 1150 area, close pretty much at the lows of 1030. Again, I think this thing is going to probably settle in on the next couple of days around this 970, 950 level. So I think it's tomorrow below that Blotet's channel should give a move to 970, 950. I think it extends for another day. Square finally broke down. We've been talking about Square for a couple of days. 78, 88 held twice. If it builds below, it can flush. Here was Square, right? So they finally took down the 78, 88. Here was a 78, 88 once, 78, 88 twice. Yesterday's low was 79. It finally took out the 78, 88, traded out to 74. We started seeing 70 weeklies. I still like this thing go. I think if it confirms today's price action tomorrow, below that 74, I think this thing has a shot at 70, even 67 on the bottom ball in German. They came for the 70 weeklies and the 60s for June. So there's a pretty good betting considering the lack of institutional participation. Tesla came down. Again, they're still betting. They're still betting on the 600s. We're starting to see 600 weeklies, 590 weeklies. Again, this thing's going lower. It's not really, it's not Teflon anymore. It's going to go down like everything else. So we finally took down the low from 633, traded down to 620. Look, I think this thing confirms 620 tomorrow. You're going to see 607, 600. So institutional money flow is heavy on the sell side. On Tesla, Zoom, only went up a buck, went up to 97. Nothing really to talk about here. UPST got hit as well. 40, if it builds below, can flush more. Here was UPST, right? Took down that 40, went all the way down to 35. Again, Lumetrum is still has down over the longer course of an extended bear scenario. Here's 37. Coin, 60, 50, if it builds below, can flush. Nice little move on coin. Nothing huge, but nice little move on coin. Went down to like 59 and change. So I think below 59, this thing starts getting spread down. MSTR, not a big move, very, very thin stock. Only went down to like 85, 86 before it reversed. 77s, then 74s, then 59 on deck. And that is about it. So look, you have kind of the same dynamics. The most important thing for this bear scenario is don't try not to take anything overextended, right? There's a lot of names that look really terrible. But you want to try to, even though coin didn't collapse, but you want to take setups like coin. You see this really, really tight distribution of all the carnage, right? You want to look at channels that are super, super condensed. So if it does fail, you could catch it right away. If something is down six, seven, eight, nine days in a row, there's a high probability to reverse this. If you look at all the setups from today, most of them, right, they were very, very tight. Like if you look at coin, very, very tight. If you look at UPST, when it broke down a couple of days ago, it was super duper tight off this channel. So if you look at some names that I like for tomorrow, let me give you guys a couple of names that look pretty good here. Oh, look at Airbnb. Look at Airbnb. Airbnb broke down today, broke down today, put in a low. They were coming for the weekly 100 puts. I want to keep an eye on this thing below tomorrow, today's channel. That looks ready to go. Roku got hit pretty hard today and it stopped right on the bottom channel here. You can see, they're just defending this bottom channel here. If it loses bottom channel, you're going to see more selling coming across. Look at NET, another name that, look at this thing. This thing is ready to go. Look how tight this channel is, right? I understand this stock's gone killed, but you have two and a half, three weeks of data here. If this thing starts building below this channel here, this thing has a lot of room down, so keep an eye on that. Boeing, I like this continuation move on Boeing. Last week it broke the 20 traded down to 17, but starts losing 17, I think it sees 110. So that's it. It's the same pretty much game plan. If we do rally tomorrow, I just don't care. I really don't. I'm pretty much, I sit on all the sidelines and the rallies don't do anything, right? It's like literally, it's like trying to squeeze water out of a rock for the downside, for every downside move that you're getting, three, four, five dollars. It's like squeezing 50 cents out of the long side. It takes up so much mental equity and you know you're trading into supply. So one down tick, bit scatter like cockroaches. So that's kind of the discipline, right? That really is the discipline until these stocks start reclaiming higher levels. And right now, again, is it possible? They can, sure, I don't think it's possible, but the point is there's so much downward value that even if you have a green scoreboard, like yesterday, we had a green scoreboard and it was a pretty solid move on Amazon through the downside and Tesla through the downside. And there's a lot of charts out there. Is there so many, you know, Shopify looks like death. I mean, there's so many charts that look terrible. Look at Splunk. You know, he's got to pick the one that you want to trade. Look at Splunk. Splunk looks like he wants to challenge this 84, 63 level. There's just a lot of value here. Just the most important one is take the ones that you feel comfortable trading. Look at even a smaller price name like Lucid, right? Look at Lucid. Look how tight this channel is. Lucid tomorrow loses 1686, right? You have a lot of room down. So the key is take what you feel comfortable in trading, let trust, technical analysis, and hopefully the volume and the liquidity and the spread is tight enough that you get some really good institutional money flow, some option flow, and you have your desired outcome. Guys, have a great night. God bless. Again, stay safe, everybody. And with God's help, I'll see you all tomorrow. Take care.