 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, giving everybody welcome to another edition of the Access a Trader dot com nightly update show. Hope everybody is doing okay. Sorry, there was no video last night. My daughter had a quarter final soccer game, which they won onto the semis. So there was no video. So instead, usually I take Thursdays off, but I didn't record one yesterday. So I'm doing one today. So where do we begin, right? This is definitely a tale of two markets. And what I mean by that is the old world, old school brick and mortar, or just, you know, companies have been around for 5000 years. The Dow stocks, the S&P stocks that are actually performing very, very well. And if you look at the scoreboard today, you'll see that the Dow is up about 200 points. And if you just look at the diamonds, and we'll use the diamonds as, as kind of a barometer, the Dow has been a kind of on a runaway train here for the last, you know, for the last three weeks or so. Right? Really, really big move. And when you look at the Dow today, again, up to 200 points, you can see where the power came in, right? Caterpillar had very, very strong earnings. You had Honeywell, very, very strong earnings, even sympathy plays, even names like Boeing who missed their, they missed their earnings again. You know, big, big sympathy plays, you know, up $6 and so forth and so on. And you could clearly ask, you know, if you ask two people what the market did today, it all depends on what you trade, it all depends on what your focus is, but you're going to turn around and say the market was up today. Or if you are on the other side of the equation, which is technology, you kind of know the difference. And so, you know, it's very, very tough for me to enlighten anybody who's trading the technology sector, especially in the last few days. You had Google and Microsoft reported a couple of days ago, they got slammed, a very, very aggressive Google. And we'll get to individual pivots in a second, really, really good second day move today. Same thing with Microsoft, right? Same thing with Microsoft and really big move down. Last night, you had Meadow, right? Meadow report, you know, wasn't pretty as well. Meadow got absolutely destroyed, just like with everything else. And the question we kept on reiterating the point was, because again, the bulls were fighting back. If you actually look at the intraday tape today, okay, on the cues, you'll notice the cues actually went green on a day at one point today before all chaos kind of went nutty. And the question we kept on asking was, well, in the last few videos, well, how long can the market, you know, how long can the market, you know, absorb all these body blows? Absorb all these haymakers. And, you know, we talked about it, you know, today in the webinar, before earnings came out. And I said, you know, this is probably going to be, I don't want to use the word make or break it, but I thought tonight's action was going to be very, very important to kind of the state of technology going in for the rest of the fourth quarter. And what we saw here, you know, back to back days is as strong as the market was, we did get rejected back to back days on this 284 move that we had a great, great move up to the 284. But back to back days, 284 in the market kind of started backing down again, and I'll give you guys a leveled here to watch for tomorrow. The cues is still above that level for a macro kind of for a macro look. But the question was, well, where these stocks, they were reporting tonight, right? And you know who the numbers were, you have Apple tonight. You had Amazon tonight, and yet Intel tonight, right? Those were, you know, very, very important areas, not only just for the Nasdaq 100, but it's a crossover, right? You know, Apple is an S&P, Apple is in the Nasdaq 100, same thing goes for Intel. So my question was, you know, can the market digest another body blow? Like how many hits to the ribs? How many punches to the side of the head can you take without actually going down? And when you look at the action tonight pre-market, right, pre-market, it was pretty strong, right? You saw some really, really good moves, the GDP came out, they spiked up the market, everything was flying, you know, it was very, very strong. And then stock stop, right? Stock stop. And as you saw, kind of, you know, without me paying, you know, using a thousand different words, we went down. We went absolutely down. And the question is what happens next, right? And that's kind of a big deal. After the close, you had, you know, a pretty significant body blow. In Amazon, before the close today, they were coming for the 110s, the 105s, the hundreds, 100 weekly puts. For Apple today, they were coming for the 140s, the 135s. So, you know, there was a lot of sentiment, right? There was a lot of sour sentiment. There wasn't a lot of, you know, there wasn't a lot of enthusiasm, that's the best way of saying, into earnings and a lot of these names. And you could kind of see it play out with institutional money. So when after the close, Amazon got, you know, you see where Amazon, Amazon's getting down like 20% after the close. Apple initially went down like 7, 8 bucks. Nice little turnaround so far off the lows. You know, Apple went all the way down to 136. It actually almost went green back in the day and now it's down only a few dollars. The question is, you know, can Apple, let's just say for argument's sake tomorrow, right? Apple turns around and goes green in the day. You know, is it going to, is it going to save tech, right? Because again, more influential of the two names is definitely Apple over Amazon just because of its weight on all these indexes. So it's going to be very, very important. But the overall picture, you know, it's not great, right? It's absolutely not great. And what you see on the Dow is aggressive. The Dow is, and I always remember, the Dow Jones is only 30 stocks, right? So it's not as impressive as the S&P going up, like say, for example, 2% in one day. For the, if you know, for the Dow to go up 2% or, you know, for over two days, really not that big of a deal. But now we're getting to the point of, we're getting into the fourth quarter, right? We know that every company is going to miss. It's not really a question. You know, there's not really a question of what company is going to buck the trend and come out with really, really great earnings. So far, we haven't seen it. Even in the case of Netflix, and Netflix had a really, really great run, right? There weren't great earnings. There weren't phenomenal earnings. Shopify had a really nice day today, right? But it wasn't like bang out quarter. It wasn't like one of these, it's okay. The, you know, the consumer is back. Everybody's spending money. So, you know, finishing up this quarter, and you still have a lot of names still, you know, for next week, you still have NVIDIA, and you still have PayPal, and you still have eBay, and, you know, all these, and Square, and all these other companies. But you have to assume, right, AMAT, all these other semis, you have to assume you're going to get exactly the same song and dance. What we've been seeing with every company so far that's reported, you know, the whole thing. Slowing, inflation, supply chain issues, inflation, and blah, high interest rate, the whole song and dance. And the question is, where are we going, right? Where are we going? How fast are we going to go there? And what do we expect for the fourth quarter? And the answer to that is nobody has any clue. And I've been kind of reiterating that point on a day-to-day basis. But the point that we can do is, right, what we can control is what we have on the close, right? What we have on the close, and granted, a lot of stocks are gapping down, right? It's not just Amazon's taking tagging down. Amazon's taking down everything with it, right? If you look, for example, like a snow, right? For example, like a snow, snow is getting killed. Like everything is getting killed. There's nothing that's safe. Nothing has anything to do with Amazon is getting absolutely murdered, right? Nothing to do with Apple, at least initially, is getting murdered. So it's like a tribe, right? One goes, they all go. So it's not a question of, I don't understand why my stock is going down. Just get it. That's what it is, right? The whole tribe is getting the double-fisted situation here before the weekend, you know, if that's your thing. So look, here are the big levels, right? Here's absolutely the big levels. When you look at the queues, you have a couple levels that we have to watch for tomorrow. Number one, this whole channel here. You see this whole bottom channel here that started on October the 17th here, right? The low here is this 266.74, ever. You see it? 266.74 stopped here. 266.82 stopped here. So in all intents and purposes, without splitting hairs, it stopped twice, right? At 266.74. If right now the queues are trading, where are they trading right now? 269s, right? 269s after hours. We have to watch this 266.70s level. Doesn't necessarily even translate tomorrow. Is it possible in the middle of the morning to have some sort of dead cat bounce? Absolutely. Everything is possible. Nothing is just going to go straight down. Even meta today had the worst quarter ever in the history of the world. And it did at some point bounce a little bit before getting shelled towards the end of the day. Is it very possible we get some sort of relief bounce at some point tomorrow? It could last 15 minutes. It could last for three hours. We don't know, but you have to assume one is coming. The question is what happens after. And as long as we're going to use this barometer here, right? We're going to use this barometer here, the 266.74 level. This is the difference between the next leg down or holding this whole range here. And if we do have the next leg down, again, it doesn't necessarily have to even mean tomorrow. But again, if that is the case, then yeah, any close below that 67.74 area has all the way lows to the CPI lows of 254. And I know it seems rough. And again, if you're an investor, again, I can't sugarcoat it. It is rough. That's the whole point. If you are, there's a big difference between an investor, you know, me going to sleep tonight, you know, trading both sides of the market for tomorrow. It's not really that big of a deal. It's like, you know, and, you know, business as usual, for if you are an investor in Amazon, this one, that one, so forth, you know, again, I wish I can give you a better, a better scenario. I wish I could give you, you know, shine the light on what I think has happened. But again, I'm irrelevant. That's the whole point. I'm irrelevant. Anybody that you think you follow that has the and nobody has the answers right now. Tech is in a train wreck. That's the bottom line. You know, you have consumer cyclicals are very, very strong. Even banks and brokers continue to be very, very strong. That's where the money is, right? That's where the flight to safety is even names, you know, like McDonald's. I mean, look at the run McDonald's have. Look at the names, for example, like Coke. Look at the runs they have. Again, it's a completely different world. It's the Montague's versus what I call the Capulets, right? Romeo and Juliet, right? It's a completely different world. It's two separate markets. And the question is, what market are you trading? Now, again, what market are you comfortable in trading? I would rather always trade technology than any of these, any of these consumer cyclical names just because that's my sweet spot. That's my little niche. But there is a bull market somewhere, right? There is a bull market and it's definitely in this consumer cyclicals. But if you are looking at the text, yeah, I mean, that 266.74 level on the Q's is going to be super, super important in the next few days. And the most important part is once that level gets confirmed, you know, there's at least eight to 10 points back to the downside. But again, it's not all bleak, right? There are some names that look good. Like shop, you know, only down a dollar after the close considering it's basically the same group as Amazon. They had a great, great, well, they had a great move off the quarter. I can't say they have a great quarter. They have a great move off the quarter. So, hey, if there's any type of rally tomorrow and this thing starts taking out today's ranges, who knows? Maybe there is a couple more blocks in this thing. A name like Roblox, for example, they had a really, really big strong two-day move, right? Had some $50 calls short-term, granted, it's probably into earnings. But you know, this thing's held up very, very well as well. But on the flip side, you know, on the flip side, you know, I'm not watching them, right? I'm not watching them. I'm watching the names that have lost money on earnings, right? Microsoft. Microsoft still has room to the bottom channel. Meta, you know Meta's going to get a day two move down tomorrow. You know Google is going to continue to go down tomorrow because there's no catalyst left. Their earnings are bad. The market's bad. The sentiment's bad. Everything's bad. So if everything's bad, why try to pick a bottom? Just go with the flow and start looking at more downside ranges. Again, can everything marvelously turn around tomorrow and just go green? Of course, right? But again, like I say in every single video, no matter what your bias is, or at least opinion for that day, don't you at least have to be ready? Aren't you supposed to be prepared for the trading session, right? So again, it's okay to be wrong, but hey, at least be prepared on both sides of the market to kind of figure out which way the wind is blowing. So that's kind of it for the macro view of it. Very strong day today. I mean, really, really strong day today. We had continuation of sell-offs from earnings on Microsoft. Nice move on Tesla. Again, there's a lot of speculation that Twitter acquisition is going to be done tomorrow. Who knows? Who the hell knows? Again, this is all banter. I have no idea. So let's talk about this. Tesla 231 needs to build. Here was Tesla. Not a big move. And I was a little bit upset at the move. It took out this 231 channel, went up about three points or so. And then it kind of stalled out, right? And once he starts seeing, at least for me, and again, I have no grudges. I have no beef with the retail public. But once everybody's talking about and talking about the same thing at the same time, Tesla's going to 300. Tesla's going to 300. Look, the deal's going to get closed. Tesla's like, ugh, okay. So I kind of backed away from there. Bit of a nice little pop on Tesla. NVIDIA won pre-market, couldn't get NVIDIA. It went from 134 to like 137. Google was pretty solid. Google, 94 for Builds Below can flush. That was day two after earnings. Here was Google. So it took out this 94 area trade all the way down to like 92 and change before the bounce, before pretty much ending at the lows. Really nice move on Google. Microsoft was sweet, really, really sweet move. 230 for Builds Below can flush more. Here was Microsoft. Right? Here was Microsoft. Microsoft went all the way down to like 226 and change before the initial bounce. Really, really nice move. I still obviously still like both stocks lower. Shopify. I missed Shopify. I didn't miss Shopify. I was shorting Google and Google and Microsoft. Shopify was a really nice move. Congratulations for you guys who caught it. 31 rejected twice so far. Pre-market needs to confirm. Shopify went nuts today. Congratulations for you guys who caught Shopify. Went all the way up to 3460. Really nice move on Shopify. Pretty aggressive day today. Amazon was pretty good as well. Obviously before earnings, 130-20 has held twice. Earnings after tight. Builds Below can flush. As you can imagine, it flushes. And here's the whole point, guys. This is when we talk about you don't need to fall in love with stocks. Right? Just fall in love with ranges. Here's my comments. For all you players that are trading Amazon after the close, upside, it's a little too tough. I couldn't find a channel to the upside. But the downside channels are 110, 105. If you look at Amazon right now, it's trading at $91.92. It got murdered. Apple for earnings players 150, 152 to the upside. 142, 140 to the downside. Initial move on Apple was down to 136. So again, guys, you don't need to. If you're an investor again, my heart goes out to you because again, it's very, very tough to have an opinion to what I think is going to happen in your portfolio in the future. Unfortunately, I just don't have them. That's smart enough for that. Neither is anybody. The only thing I can tell you is if you do have exposure to technology and you feel uneased, short some cues against your portfolio. That's the only, at least it's going to, at least it's going to curb some of the, you know, some of the damage because at least if everything is going down, you're going to have some hedges on the downside as well. So guys, have a great day. We should have some pretty good opportunities tomorrow. It's the end of the week. I wish you guys all the best. And when God's help, I'll see you all tomorrow. Take care.