 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 morning everybody. Welcome to another edition of the AccessToTrader.com weekend update show. A wet, nasty washout here in the Northeast and a lot of you guys are tackling the same weather. Again, not a lot of things could go perfect in life, whether it shouldn't be a reason that you don't continue to live your life to the fullest with the utmost in happiness. If you are brand new to the channel, we invite you to come along. Come along on this journey, subscribe, share, like this channel. Again, I try to give the most unbiased way to looking at the market. We don't fall in love with individual tickers. We fall in love with technical analysis and technical analysis when done properly, we'll love you back. So let's talk about it. A lot of things have changed since we last spoke. For all you guys who don't know, this broadcast goes out to the general public. Monday, Tuesday, Wednesday, Thursday, I'm off. I need a kind of a brain reset for Friday session and then once on the weekend. This is your weekend update. A lot of things have really changed since Wednesday. If you guys remember the last video, we were teetering on the bottom of the range here when Microsoft came out with numbers. And if you guys remember, we had the lowest close in this whole formation on the 20-day moving average. It looked like it was, excuse me, wrong one right here. It looked like the market was about to fall off a planet. The news on Microsoft got sold. So he's turned around and say, well, naturally eBay is not going to, not eBay, but Metta is not going to save the market if Microsoft couldn't. This is why you play the game. The same day you look like Tesla was going to fall off a cliff. A lot of technical damage, especially in the semiconductor space. And you say to yourself, well, here we go. Earning season was the catalyst. We went through the banking mess. We're going through earning season. Surely Netflix, Tesla, they missed the market, sold off Microsoft on good earnings. Here we go again. The market's going to implode yada, yada, yada three days later. We are literally closed at the top of the range finally getting above the 404 highs. Of 321 63 will get to the pivots in a second. But if you look at the tape, right? If you look at the tape and look at the commentary, you know, you had good earnings this week from Metta and Microsoft did really, really well. Google and Amazon, not so much matter of fact. Amazon came out the same basic news that Microsoft went up on on cloud spending. Amazon came in and said, well, we're seeing customers a little resilient, excuse me, a little having resistance for paying for cloud and so forth and so on. And Amazon that had a really aggressive initial spike. If you guys remember, we were talking about it throughout the week, but especially the day they came out with earnings. They were really pounding the weekly 110, 115, 120 calls. So when they finally came out with earnings, Amazon absolutely exploded. Really did. It was trading the 20s for a long, you know, for about an hour and a half, two hours. And then when the conference calls started and the CEO started talking about the reluctant spending in the cloud space, the stock really started imploding. And what was up 10% at one point went down 4% very, very quickly on the conference call. And there was a whole discussion. We always talk about a lot of gray areas in the market. Buying the stock and selling the stock, that's the most basic part about trading. Anybody could buy and sell the stock. You don't even have to know what you're doing and you can buy and sell the stock. That's all it is. It's clicking a mouse. But for anybody who's going overnight on earnings, especially on earnings, right? Number one, you already know it's a gamble. Nobody knows exactly how the stock is going to respond. You can have the greatest, you know, you can have the absolute greatest quarter on the surface on paper. And then like the CEO of Amazon comes on. For example, I totally forgot I was in Bezos. But he came on and completely threw cold water on all the earnings. And here we are. We had a complete reversal. And it's something important for option players. We talk about this all the time. There's so many hours from the time that the earnings are released. So let's just say the earnings are released at four o'clock, right? A little after four o'clock. So you have between four o'clock to eight o'clock. That's four hours. That's including conference calls, all that other stuff. In that four hours, again, you're seeing so many different things happen. Other companies that are potentially warning other companies that are coming out with earnings. Maybe some political news that strikes out of nowhere. Maybe some global headline that comes out of nowhere. Some Fed headline comes out of nowhere. And between that and the overnight session, right? You have so many more hours by the time that 9.30 area. You're looking at 15, you know, 15 hours or so, 16 hours or so that anything could happen to your stock. And the one thing I've always said, especially in the webinar over and over and over again, if you are going overnight on something that has an event, right? And the stock goes in your direction. If you have the ability, and this is why we always say it's super important to have a fully funded account. What it means is as much money as you possibly could have in that account. Because if you're going overnight, like a perfect example on Amazon, it spiked up $10, $11. And if you didn't have the ability to short stock against your calls, right? If you didn't have the ability to short stocks against your calls, you woke up the next day or even an hour later and saw that Amazon was a completely huge reversal. Now you are out of luck. So if you are going into earnings or any event and you do get depreciation, or depreciation depending on what side you're trading, always consider, if you are long as stock and it's up 10, always consider shorting some equity, right? Shorting some underlying equity just to kind of start flattening out and pairing out your gains. Because again, as we saw on Amazon as a perfect example, you just never know. There's no guarantees. So as much as meta just exploded, right? Just exploded on earnings, right? And that's great if you had calls. But the other equation is, well, what happens if they pull an Amazon and your calls that would have been up exponentially at the 9.30 open now are, I don't know these were worthless, but they're much more in a full position that you wanted. So always consider, if you have the account balance, always to consider short some stock against your calls just to start pairing yourself out. Because again, in life, as in trading, there absolutely is no guarantee. So let's talk about the tape. So we did have the highest close in this whole formation. And keep this in mind. This is during six bank failures, right? The most recent one was FRC. They came out with earnings couple of days ago. But the key cock to the earnings report was that they saw a 40% drop in deposits, right? That's a big deal. Who the hell is going to start depositing money in the stock that they know is potentially going to fail? And the next day, there was rumors of the FDIC taking them over. They finally just basically threw in the towel. And now the FDIC is looking for receivership, which basically means they're taking them over. And then you saw just this humongous move down, traded under $2 at one point. There was chatter after the close. I don't know if you guys saw this, but there was chatter after the close that JPMorgan could be bidding on their assets after pennies on the dollar. So this is something that's going to be a big fire sale in a company like JPMorgan is obviously going to take advantage. The other big story, right? I never thought I'd be saying this, was the stock top, right? And here's another perfect example of new traders. And again, it's new traders. I don't know anybody. All my buddies are trading north of 20 years. I don't know that one person that even looked at this thing, it's too crazy. It's gambling. You could say what you want, but new traders, they're so fixated on instant gratification. They want the fast money, the aggressive money. They don't want even now. They want it yesterday. And here's a perfect gambling tool. I don't know what happened to the stock. I don't care what happened to the stock. But I did watch this thing on Friday. It was trading at a $7 spread. What are you guys doing? Honestly, guys, trading is supposed to be boring, lethargic, predictable. This is gambling. I don't care what you want to call this. This is gambling. This is the same thing of betting the money line on an NBA game. At least if you bet the money line on an NBA game, you know your money. You already bet your money. Your exposure is gone. At least you can enjoy the game for three hours. This is straight up gambling. Like I've said in times, look, you're all adults, right? You're all adults. Nobody's going to tell you what to do. I'm not here to preach. I'm not here to judge. I'm not here to judge. But just understand that this is gambling. This is the purest form of gambling. I'm sure somebody made money on this thing. I saw some horrific, horrific things on social media, but people blowing out their accounts. I mean, come on guys, it's just absolutely ridiculous. Call it what it is. If you're trying to make money, call it gambling, right? If you are trading, you shouldn't have any reservations to look at this thing. Because again, you're not in control. I don't know what the news was. I don't care what the news was. The stock went apparently from six to 250 back to $50 after hours. I mean, who the hell knows? But again, if you do want to be a professional trader and that's your aspirations, you have to put on the blinders and get rid of the get rich, quick, sexy, exciting stocks. I mean, you could be trading Amazon, Apple, Tesla. They're just so orderly. They're so orderly and their contingent move bases are in institutional money flow in the options market versus retail piling in, trying to make a fortune and hit the power bowl. Again, if you were trading for a long time, you realize it's all about the grind. It's all about the day to day, one trade at a time, one day at a time. Every day is completely different. You have different situations. You have different sentiment, different ways of looking at the stock market at any given time. Something like this is just, it's a shame. If you made money on this thing, consider yourself lucky. If you took the other side of the equation and you shorted this thing, look, you're going to bounce back, but learn from it. Don't make it a second, third, fourth case scenario that you're doing this over and over again. You're looking for another result. There's gambling. There's trading. Obviously, this is not trading. This is just something that you're trying to strike lightning in a bottle. If you do, there's a hell of a story to tell somebody. Other than that, we're deep into earning seasons. We are closed. We have closed at the top of the range. Even Tesla finally woke up a little bit. I'll tell you one thing. Tesla got saved. It really got saved. If you guys remember on Wednesday's video, this thing was sitting right on the linear regression line. It opened up green, one red, one downlink, two bucks, and then had a nice reversal. Now the stock is actually tradable from Monday. You probably get one or two more days of it, but that's the whole point. I trade Tesla in both ways. To the downside, to the upside, you guys don't fall in love with the stock. Fall in love with the range. If that range confirms, that's the best way to attack a trade. Again, I see so many people so emotionally engulfed in Tesla. No, this is a buying opportunity. You're crazy. It's a small bounce. It's going to go lower. It might. It might on both sides. But when you have a range, you want to take advantage of the range. For example, Friday, and we'll go over the pivots in a second. We knew that if it reclaimed the five-day moving average, it was going to start bouncing back. Is it possible it gets to the 168, 170 on Monday? Yeah, there's a shot, right? There's a shot. But I also am very, very open to the idea that, hey, it turns right back around. It loses back the five-day moving average. And now you have the bottom of the channel that had defended last week for a potential retest. So you always want to be very, very conscious of your environment. You always want to be very conscious of the ranges of the stocks. Trade both sides of the market. Be responsible. Be fiscally responsible. Again, trading is all about the grind. Basits, basits, basits. Manufacture runs. Get hit by a pitch. Take a walk. Maybe get on an error. Luck sometimes plays a part of it. And sometimes you will hit a home run, right? But the point is when you're trading a stock, when I say trading, when you're playing a stock like Top, you're going for the home run every single time. It doesn't exist. It's like an NFL quarterback at the first play of the game from its own 20 throwing a Hail Mary. Maybe he'll complete it one out of 100 times. He won't, but the point is he'll definitely put himself in a situation as being the victim instead of being the aggressive. So just be kind of conscious. It's super important. Trading, it's super important of how you proceeded this business of what you trade and how you trade. But it's very, very important to understand the risk before you put your hard earned money. So going into this week, let's look at the indexes. Very, very quickly. Again, you got Q's at the top of the range here in the middle of earning season. You have, let's see here, you have a lot of, obviously a lot of earnings coming again this week. On Mondays, you got SoFi, nothing big. MGM Grand, MicroStrategy is all tied up into Bitcoin. On Semiconductor, nothing really crazy. Tuesday starts up again. It starts up again. You got AMD. You got Ford, Starbucks, Uber, Pfizer, Serreptimatch.com. And let's see here, Wednesday, you got Qualcomm, Etsy, Sunpower, nothing really crazy. Thursday is going to be the big one. You have Coin, Shop, Square, and obviously Apple is going to be the setter of the tone for Friday's session. So as of right now, buyers are being rewarded for dips even when there's technical damage as we've seen here, as we've seen here. And again, the old joke is, hey, if you keep on buying the dip, eventually you'll be right. And then this market is proving that you are completely correct. And the most important part is it's continuously negating bad news. Again, six bank failures in the last month. I mean, it really does show you how aggressive the market is. All right, guys. So let's talk about the pivots from Friday. Again, Wednesday, I was super bearish. Came in short. Tesla went green to red, went down another couple of points, and then it reversed. And then it started reclaiming back the five-day moving average. And that's that 161 level. So 161, let me just show you the chart where this 161 came from. 161, if you notice, the last two highs, right? The last two highs into the five-day moving average was 160, 67. And the next day's highs were 160, 48. So we knew if he could get above 161, he could reclaim the five-day moving average, which is the shortest-term sentiment. 161 closed pretty much at the highs of the day near 165. I still think if they could get above these two channels here, I think there's a shot at 68, 70 for another near-term scalp. Navidia exploded towards the end of the day. 275 needs to build. Here is Navidia, right? Another example of a stock reclaiming and building above the five-day, right? This whole area here was the five-day. It reclaimed, took out the 75, closed at the high of the day, 77.5. It looks like, you know, if it doesn't die out this week, it looks like there's a shot here into the 280s ahead of its numbers in a couple of weeks. Let's see, let's see, let's see. Apple, nice move on Apple. 168, 60 needs to build. Here is Apple. Again, all these stocks just breaking out. Again, mirror image of the cues, took out the 68 area, went to 70. Again, if it starts reclaiming 70, it should go higher against ahead of its earnings. So that was that. TTD, not a big move, went from 6480 to like 6560s before it reversed. Microsoft has been awesome. We caught this great, great move from that 299, 57, 300 area. It just exploded, took runners overnight. And I said, listen, basically for all those who are long, a runner, 305, 20, yes, these highs, if it stalls out there, sell your runners. It confirmed that, you know, it confirmed very, very aggressively, put in a new base there and exploded. I said potential 308, 309 if the market continues. And Microsoft was definitely, definitely the move of the week. Look at the high here. Traded right to the three online level, big, big move. Congratulations to all you guys who took Amazon. I thought there was a shot. Amazon, excuse me, congratulations to all you guys that took Microsoft. There was a shot that I thought that Amazon could shake off the earnings, the earnings turnaround. It did not do so. It stayed red the whole day. Meta, there was a couple of areas of Meta. There was a bounce spot on Meta. It didn't take out the natural pivot. Guys, watch this 242 level for Meta this week. Stock has been acting really, really well. Great, had a great rest on the day after earnings. OSCR went up about a dime, nothing there. And again, here's the queues. $321.63, the daily range needs to build. And the queues closed at the highs of the day. A dollar higher above its range. Again, market looks pretty good going through this week. Again, here, because Meta read the green. There's a lot of times there as well. So that's it. That's it. If you look at the spies, you look at the spies. They're about to break out as well. Watch this this week. Watch this 418.31 level. The IWM, again, very, very completely different picture than everything else. Still under water. Again, the money is out of speculation, which obviously wouldn't even think so with all these crazy Chinese stocks flying. But that's what it is. And then as that keeps on going, the gravy train keep on going, keep fighting off the bad news. Again, to be determined. So all you guys have a wonderful, a wonderful weekend for all you guys who are planning to join us in the live webinar this week. Please do yourself a favor. Start watching the two workshops. And for all you guys who have not watched the workshop, it's completely free. There's two versions of it. It's about 8, 10 hours long. I completely break down the PS60 theory. And if you've been wondering or thinking about pivots, are they right for you? We have a 30-day offer. Try it out for 30 days. The only thing you have to lose is looking at, is kind of disconnecting yourself from this whole social media world and looking at the market completely different way. Guys, have a great, great weekend. God bless. And I'll see you all on Monday. Check it out.