 The strong stocks continued to be strong. The bulls today took uppercut after uppercut after uppercut and another one and another one and they actually went green in a day. Welcome to Access a 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 Access a Trader dot com nightly wrap up show, hope everybody is doing well. I am going to be a little preoccupied as I record this video. I'm watching Tesla as everybody sees. They just came out with earnings so far. The initial reaction, you know, big spike into the 150 level. They tried to sell it off initially, kind of went sideways a little bit and then the stocks started kind of coming back and it got stuffed into this 148 level. Yesterday when I recorded the video, this is how quickly things changed in the market, but yesterday when I was recording the video, Microsoft was up 10, 11 points, everything was flying. By the time Kyler edited the video, next thing I knew, you know, it was over. It was a completely different video. So I'm going to be a little distracted in case Tesla starts to spike up right now. I'm going to watch this, you see this guys, you see this 148 level here, right? Maybe it triggers later, maybe it doesn't, maybe the stock goes down 10. I have no idea by the time you get this, you get this recording, but what I'm going to do is I'm going to watch, you know, I'm going to watch this 148 level. There was a couple of entries already above this channel here, above this channel here. It stopped at supply, but I'm going to watch this 148 level. The conference call starts about 5.30. Let's see what, you know, let's see what they say. Obviously the reaction is much more important than the numbers out. At first sight, I just, again, all I did was just literally read the headline. It didn't look bad, right? It says Tesla reports record revenue, beats on earnings. Again, I really don't care about ultimately, you know, going through the report on a fine tooth cone, but the most important thing for me is the reaction. So after 5.30, let's see what they say on the conference call. And if it does start building above this 148 level, who knows, maybe goes back to the highs, but this is the level. In case we, you get this video before the ECN closes, 148 level is going to be super duper important, assuming they come back for this level. They tried to test this 148 level, got rejected. Let's see if they come back for it again and start putting in higher highs. We'll see, we'll see about that. Anyway, so let's talk about the day, crazy, crazy day. Again, you had this incredibly, you know, incredibly big reversal last night on Microsoft's earnings. If you guys remember, it was from one from up 10 to down seven. It woke, it woke, you know, when you woke up this morning, it was down eight. And to the really, really, the good aspect of what we're seeing right now in the bullish environment, they're continuing to still gobble up bad news. And if you traded today, you saw the epitome of what a bullish sentiment looks like. Again, here's another perfect example of a stock that is a leader. Obviously, one of the top, you know, two, three important components in the NASDAQ, in the NASDAQ 100. And, you know, the NASDAQ this morning was down 250 handles, Microsoft looked like it was going to fall from hell in a handbasket. We'll get to the, to the pivots in a second. It was a really nice pivot here off this 234 level. We'll talk about that in a second. But more important is what happened later. And if you look at every single chart on the NASDAQ 100, you'll see stocks defended certain levels. And I started, you know, I started talking about them on, I started talking about them on the Twitter feed. I said, look, Microsoft reversal today destroyed many upside natural pivots. The initial value today, right? And this is kind of what we talked about is potential balance plays for both Nvidia and Tesla at the bottom of the ranges, right? If they get there, remember, you don't need to be, you don't want to be short. Remember what we talked about last night's video? You don't want to shorten to the hole, especially in a bull market scenario. Well, this morning was another perfect example. Anybody who shorted anything today, for the exception of Microsoft on opening range low, you can see here, you know, nice little $3 move there. But anybody shorted anything in the hole this morning, okay? On that gap down, got absolutely destroyed. And that's kind of the point. And not only did the bulls fight back today, every stock that tested the bottom of the range, whether it was Apple testing the 50-day moving average, held and rallied, whether it was Nvidia, whether it was Tesla, right? They all held their bottom of the ranges. Whether it was Nvidia, Tesla, you know, they all went. And that is super bullish. At one point, Microsoft got green on the day, which is incredibly, incredibly important to understand. And once the bull started rallying, it was unbelievable reversal. The market held up incredibly well. And now, you know, the question is, what happens tomorrow with the Tesla, right? Tesla being the catalyst. As of right now, you're getting a pretty muted reaction. Again, we're talking about that 148 level, whether it's today, tomorrow, maybe it doesn't happen, right? Maybe by the time you get this video, the stock is down 10. We don't know. We could only talk about and wait for things in real time. So that 148 level is gonna be super, duper important, whether it's tonight after the conference call, or it's going to be tomorrow at the open, right? At the open. So we'll see what happens there. The cool part what we saw today was, even though when the market started getting super aggressive to the downside was how orderly these moves were. And this is kind of my point. When you look at stocks and all the major players, look where they held, right? They all held rising support. Here's a perfect example. Apple came, they tested the rising five and the 50 day moving average held. NVIDIA came all the way down, right? To the five day moving average of this 186 level held. Tesla came back to this all the way to this five day moving average, right? Look, guess what happened? It held. And that's the sign, right? People are debating, whether it's a bull market, bear market, you could call a potato, potato, you could put a tomato, tomato, you could put lipstick on a pig, whatever makes you sleep better at night, right? Price action is price action. Our opinions again for the multi-millionth time doesn't mean anything. Stocks are either going to reclaim levels, defend them and go back higher, or they're going to lose levels, confirm them to the downside to start the next leg up. And so far what we're seeing is really, really good strong market action. If you haven't traded long enough, again, I get it, you have your opinions and this and that and the other thing. Once you start trading 10, 15, 20, 25 years and I'm trading next year to be almost a quarter of a century. Say that out loud and how it even makes sense that somebody could be trading, at least me, of all idiots, of all idiots could be trading that long. But I'm going on my 24th year. Unfortunately, this is not my first rodeo. I've gotten caught in phases of my career that I tried to guess, tried to rationalize. Again, the market doesn't make sense. It doesn't have to make sense. Somebody's tweeting at me. Well, what'd you think about Tesla's free cash flow? I have no idea what any of that stuff means. All I know is if this damn thing starts building above 148, you'll see exactly what free cash flow means or it doesn't mean or all that stuff. It's all irrelevant. It's all price action, right? Netflix missed their numbers, but the subscribers went up. I can't believe it. The stock sucks. It doesn't make it. The stock is $50 high. It doesn't matter, right? Microsoft had horrible numbers or these horrible guidance. The stock of race and 11 point move and the stock at one point went green in a day. It doesn't matter, guys. Trust me, your opinions are great and that's fantastic. And I think everybody should have a voice, but the only thing that matters, literally matters in trading is price action off the data. Whether it's news, catalyst, earnings, whatever the case may be, you might think something looks shady and the report looks crappy, but if the stock market is telling you, hey, the values to the upside because they're taking out previous channels, that's all you need to know. Trust me, your career will last super longer if you put on the blinders, right? Put on the blinders. Look at the data in front of you and trade the market that you have, not the market that you want. So going into tomorrow, again, a slew of earnings tonight. Not everything was rosy today. After the close, you had a lot of disappointment, right? You had lamb research at LRCX. I don't know if they had come out with earnings. I'm just so much stuff going on, but LRCX got smashed. The ironic part about LRCX getting smashed, NVIDIA, right? NVIDIA is only down like 50 cents from the close. That's super bullish. Look at MU that's setting up really, really well. And you know, MU is down what? 10 cents after the close on the lamb research number. So you can see the strong stocks continue to be strong. The bulls today took uppercut after uppercut after uppercut and another one and another one. And they actually went green in the day. And when you look at the final tally, the Dow, the S&P were flat. And the NASDAQ after being down a whole ton, right? Finished down 20 points on the day, which is phenomenal. And again, if you go back to the previous couple of nights, right? Couple of sessions, you had 500 plus move in the NASDAQ in two days going from Friday to Monday. And yesterday took a body blow. Today took a body blow. And guess what? Just like Rocky Balboa, it got off the mat in the 10th, 11th round. It came back swinging. Let's see if they start resuming for tomorrow. So let me give you guys a couple of names. I'm definitely watching for tomorrow. I think in nausea, I talked about Tesla, where it needs to confirm. Micron, look at Micron, right? Had a big, big move rested for the last couple of days. If it just starts building above this upper channel here, this thing could stretch. Look in the video. NVIDIA has been an absolute monster, right? It's all green bars. Even trying to sell the stock, it's one green bar after one green bar. If they could just take out the channel, man, they were coming for the 202.05 calls ahead of earnings, like they were giving out free lunch. So definitely, definitely keep an eye on NVIDIA for the next couple of days, especially into weakness, buying into rising support, sticking with the semiconductor theme. Look at AMAP, right? Look at applied materials. Look how close this thing is to busting the top of the range. The semis led the market down in 2022, and now the semis are holding strong. So any rally, any firmness of the tape tomorrow, you could have a resumption here in the semis and Boeing, right? Boeing was down a lot today, right? Boeing had a great reversal. Again, another example of bad news being engulfed. And again, if you're a bull, this is exactly what you wanna see. I've been saying this for years. I'm not a bull, I'm not a bear, an opportunist, but your eyes don't lie. So if they're trained trying to take down Netflix on bad earnings, and it goes green, they try to take down Microsoft on bad earnings. It went green from one point. They try to take down Boeing. Boeing went all the way down to 203. The stock is $10 off its lows on earnings reversal. So we have our theme, we have our sentiment, and as long as the bulls continue to build over the 50-day moving average on the cues, I think no news is good news. And as we get further indeed into the earnings quarter, we'll get a lot more clarity. So let's talk about some, there weren't really pivots. There was only one natural pivot today. Everything else was balances. These two stocks, these two stocks didn't confirm. Again, here is my morning notes on the Twitter feed. Microsoft reversal destroyed many upside natural pivots. Initial value today is potential balances of both NVIDIA and Tesla off the bottom ranges. If they get there, remember, you don't want to be short into the hole, right? That's exactly what happened. I misspelled hole. Sometimes I'm typing and I'm thinking too fast. Sorry, I'm dyslexic. Especially in a bull sentiment, I'll start putting in pivots as they develop. So here it is, right? Tesla for experienced traders, 139.40 is the bottom of the range. If bulls defend can snap back reports after the close, here was Tesla, right? Here was Tesla. Here's a 60-minute supply. It got down to the bottom of the range here, right? It got down to the bottom of the range here, reverse course, the stock went before even the open, before the report went to 146, excuse me, 146. 146, really, really huge move. You had an eight, nine point reversal off the bottom. Here is NVIDIA. Again, NVIDIA for experienced traders. 186 is the bottom of the range. If bulls defend that level, it can snap back. The low of the day on the video was 185.80. So you could tell how super important that bottom of the range was. Bulls held it, they defended it, they rallied it right back. Stock, NVIDIA has traded up to 193 and changed. Huge move there. Microsoft, here's one of the very few natural pivots, Microsoft for experienced traders. 234 is the bottom daily channel. If the pre-market lows, if it builds below can flush. Here was Microsoft, right? Here was Microsoft. And again, Microsoft had a phenomenal reversal, but here was the 134, right? Here, excuse me, the 234 area traded right down into 60-minute support in the 230 and change level and then huge reversal. And again, that's the whole point of what I'm talking about, bullish sentiment. The reversals are just absolutely huge if you don't understand where supply and demand is going to come in. And the last one is, oh, a little scalp and snow went down like 75, 80 cents. And here's Netflix. Again, here's another perfect example. Netflix, 263.20 rejected twice on the 60-minute. If the market gets better, it needs to confirm. And here was Netflix, right? Here was Netflix. Here's the 263.20. You see this whole area here? 263.15, 263.19, 263.20. It finally took out that 263.20, just went absolutely nuts, rallied about five bucks into the close. So if you are watching this video before eight o'clock, again, that 148 level is going to be super important on Tesla. If not, watch that area for tomorrow. If the bulls start building and price action in stock, who knows? Maybe you could get a nice big move. That's it, guys. Have a great night, everybody. God bless. There's a lot of things going on when the middle of earning season. But the most important thing is keep calm, stay patient, take a deep breath, and be an adult. Guys, God bless. I'll see you all tomorrow.