 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, leading everybody and welcome to a Monday edition of the access to trader.com Monday Update. Hope everybody is doing well. Hope everybody had a great weekend. Hope everybody had a good trading day. So before we start again, if you are brand new to the channel, thank you very much for spending a couple of minutes with us. All we ask is like, subscribe, share all that good stuff that can help out the channel to grow and kind of spread the word of technical analysis. So let's talk about where we are, right? So for the last two weeks, the Nasdaq 100 lost a little over 6%, right? Kind of a big deal. They rebounded today about a little over 1%. So before everybody starts taking out the noise makers and the party has to understand we're still down 5% from two weeks ago. There is a silver lining for this, right? We'll get to the silver lining here in a second. No doubt. The bulls on paper today put together a pretty good, pretty good day, right? The Dow rebounded 500 points. It's best day since June, which was great, which was absolutely great. The S&P was up 1.2% and the Nasdaq rebounded back 1.1%, which was very, very good. Did every stock rebound? No, not every single stock rebounded. We'll get to that in a second. Again, obviously you guys know which one I'm talking about because we traded every single day. And if you watch the update for pretty much the last seven years, we talked about that stock. Again, we'll get to that in a second. Here's the most important part, right? Here is kind of where we start this evening's update and going into tomorrow's session. Number one, again, kind of a quick history lesson. We lost a 50-day moving average, went to the 100, lost a 100, went to the 150-day moving average, lost a 150-day moving average, and we went all the way down to here, 342, the lows. Now, keep this in mind, this is roughly 25 points off the highs, excuse me, off the highs this in the last couple of weeks, hence the 6% decline. And today's rally, we rally to the 5-day moving average and got rejected. Well, now, why is that significant? Again, even if you don't know anything about technical analysis, everybody has eyeballs, right? Everybody's seen this orange line? Right, guys? Everybody's seen this orange line? You see what happens? What's happened in the last three weeks? Every single time it hit the orange line, right? It's the orange line fades, it's the orange line fades, it's the orange line fades, it's the orange line fades, it's the orange line fades, we just hit the orange line today and fade it. What's the orange line? If you're joining us for the first time, the orange line is the 5-day moving average. A lot of people don't acknowledge it, don't respect it, hell, don't even know if it's there. I've been using the 5-day moving average for many, many years and it represents to me the shortest, I mean literally, the shortest term internet or excuse me, interval of the stock market who has control of the 5-day, has control of the most short-term imbalances and that's a very good reason what we call it because of all the craziness goes on in the market. But so far, every single time we've hit the 5-day moving average, we got rejected. Even if you look at the opposite here, go to the opposite here on the way up. Every single time we hit the 5-day moving average, we bounce. So there's a method to this madness here. So what happens tomorrow if they can't reclaim today's channel, right? Well, we're going to go lower, right? We're going to go lower because again, it's not exactly a good thing what we're doing. Here's what the bulls need to do for tomorrow. Guys, write down this level on the queues. The queues need to reclaim 350-50, 350 and a half on the queues. That will reclaim the 5-day moving average and break this very impressive streak of rejections. This will also reclaim back the 150-day EMA. And if that happens, yes, we could have a multi-day, I don't want to use the word rally, but a multi-day potential for upward move back to this 353, 354 level that will correlate back to the 150-day moving average and the 10-day moving average that is crossing. So that's what the bulls need, right? Absolutely, that's what the bulls need. The bears need to get below this 346 level that was today's lows. And again, honestly, folks, I can't even 100% tell you that was today's lows. Why? If you're an active trader, you know what's been going on for the last two days in the market. There has been wicks everywhere. When I'm talking about wicks, yeah. They're talking about Halloween scary wicks, right? Look at the fight. This is real. Guys, this is what usually this would be all fake prints. This was real. This is a chart on Tesla. It finally stopped wicking out. I guess that's the word I'm looking for, a little bit after one o'clock. But this is what's been going on now for the last couple of days on any stock that's been trading with a major average, Shirange, NVIDIA, Tesla, Q's, Spies, whatever it is. These wicks have been absolutely real. And I talked about it over the weekend update that how can you trust the price action, right? If you're getting these fake prints all over the place, and the problem with these fake prints are, they're being demonstrated on the daily chart. So I'll give you an example today, right? The high today on Tesla was not 2,1241. We all know that. We watch Tesla every day. Did it get to 210, maybe 211, maybe? The stock did not go to 191. How do I know it didn't go to 191? Because we were short from 205 when we saw the runner. Believe me, I would have covered into this range. So there is absolutely a carnage of wick city everywhere. And the NASDAQ is finally aware of it. What's been going on for the last couple of days, apparently they've taken... There is a data feed issue, right? And that's why we've seen all these wicks. So they basically, layman's terms, took it from one server and put it towards another, okay? They're aware of the issue and I'm hoping, okay? Because at least when we saw Tesla now since one o'clock, it didn't have any wicks. I'm hoping this was the last of these crazy wicks. Because again, guessing where a stock is going to pivot, trying to figure out if that was a real chart print or not, is not exactly what I want to do for a living. And I'm sure a lot of you guys feel exactly the same way. So hopefully this is behind this, hopefully the NASDAQ fixed this issues and we can go on trusting the data points, trusting the data. Because if not, again, trust me, and I know for a damn well, nobody covered Tesla to $191 because it never got to $91. I think the low of the day was like $94.60, but because of these wicks, it's demonstrating on the daily chart now that the stock went to $191. So anybody who didn't trade today is looking like, wow, tomorrow if it gets below $191, no, $191 is irrelevant. $191 is a wick issue that the NASDAQ is aware of and hopefully are going to fix. And hopefully the price action is going to be fixed ahead of tomorrow's session. Because again, it's even tough going through charts. And the NVIDIA, for example, it never got to $22 today. It never did. Look at the wicks here on NVIDIA. If it didn't get to $22, because if it got rejected at $22, we would have been selling this thing to the 10-day moving average, right? We would have been shorting this thing to supply. It never got there. So again, hopefully a lot of you guys, it's not just from one broker. It's pretty much every broker is having this issue. Again, hopefully you guys did not get affected by this. But more important, hopefully going forward, this problem is going away. So going into tomorrow, let's look at the indexes really, really quickly. The indexes, again, need to get above $350.50 for a stage potential one or two-day push. The bears need to get below $346.00. If you look at the SPYs, let me look at the SPYs. Again, look at this wick. I give you my word that the spies did not trade to $413.00 today. I give you my word. It never got down there. It's going to be $412.00. It never got down there. But that's what we're showing here. The bulls need to get above, you know, roughly need to get above this $417.00, $417.30. You see, this is the five-day. It's kind of the same thing with the NASAC. You see, it keeps on getting rejected off the orange line. Rejected, rejected, rejected, rejected, right? So the bulls for them to have stage another potential day of rallying need to get above $417.00 and change to see if we could stretch this out back to the 10-day moving average, which is roughly $421.00. After the close, Apple is doing some sort of presentation, something, some sort of event. It's very ironic and very convenient. If you guys remember, the last two, three Apple events have been faded in the middle of the day. So what they did now was conveniently they're starting their event at five o'clock Pacific time. Why is that irrelevant? Well, because five o'clock Pacific time is eight o'clock Eastern time. Why is eight o'clock ECM important? Because the ECMs close at eight o'clock. So they're saying something stupid, right? They're saving themselves from getting hit after hours. And now they're just hoping that the futures are going to gap up, right? They're hoping the futures are going to gap up. So whatever they said on their presentation doesn't get affected. But very, very nicely played Apple. You guys are tops. But again, that's what's going on here. They are reporting on Thursday. Obviously is going to be a big, obviously is going to be a big catalyst, especially for the NASDAQ 100. Tomorrow we have, let me see what's going on tomorrow. Tomorrow we got AMD. AMD is going to be the big one for tomorrow. We got AMD. We got Caterpillar before the open. Nobody really other major than that. You have a bunch of Amgen is reporting tomorrow. And then Wednesday you got Roku, Qualcomm, Yum Brands. Nothing really crazy there as well. Thursday is the biggie. We have Coinbase. You have Shopify and you have Apple, Starbucks, Moderna, but Apple is definitely going to set the stage for Thursday session. So how do we look at tomorrow's session? I look at it as if we can reclaim the 350 and a half on the queues I definitely like some charts that are setting up here. I'm trying to be very simplistic. I'm not trying to be very creative for tomorrow's session. Amazon, right? Amazon today first close above the 50-day moving average. Obviously it's one of the ones that had good earnings. If the market does rally tomorrow, I'm obviously going to watch Amazon. If they could confirm this channel here and confirm the 50-day moving average, it could make a push into this 135 level. Netflix today woke up as well, right? It still needs to get above this channel here, but if it could, right? If it could start reclaiming back the top of this range, the top of the supply, it can actually rally back as well. Let's look on the other side, right? If you've been watching the video and watching the broadcast, we've been talking about two stocks, specifically two stocks for the next leg down. The first one was Tesla. That was the big trade of the day. As you can imagine, right? I had a whole bunch of pivots set up for the downside today. Only one pivot confirmed to the downside and only one pivot confirmed to the upside because, again, when you have technical damage, you're not going to get 35 stocks that are breaking out, right? Because you have 6% move in two weeks, so you have to really pick your spots. And to the downside, considering the Nasdaq was up over 1%, Tesla did not rally. So let's talk about Louis, the only two pivots that confirmed today. Amazon 130.07 is supply. It's also last Friday's high. It needs to build. Here was Amazon. It got above the 130 area. That was the supply right here, the 50-day EMA and traded to the 50-day SMA all the way up to the 133 level. This thing looks really, really good. Now, the question is, and again, here's my point, that Amazon was Amazon's high today, 133, or was Amazon's high today, 133.40, right? Can I even trust this week? That's the major question. That's the problem we've been having. All traders have been having, especially in technology space. Again, is the today's high 33? Or is today's high 33.50, right? Please Nasdaq, do what you got to do, but fix this problem as soon as possible. But again, app Amazon, if it does rally tomorrow and confirms the 50-day, it should have another leg up. Tesla was definitely the big one of the day. I still have a little bit of a runner overnight. 214.80 to the upside. Again, I will always try to do a two-sided pivot. 214.80 to the upside. 204.88 to the downside. Can you guess which one confirmed? So Tesla confirmed 204. Confirmed 204.88. And this was just an absolute destruction. Absolutely got destroyed. It traded all the way down to 194 and change. I believe that is the wall I'm guessing here. You guys remember last week, they were coming for the 185, 190 puts. Today, they were coming aggressively right off the open for the 200 puts and the 190, 190, 250 weeklies. And they were coming for the 1117 expiration for the 180 puts. Guys, watch Tesla tomorrow. If it starts losing today's lows, we could get another move up as well. And everything else didn't confirm. One base was strong today. And the video was strong today. AMAT was strong today. Nothing confirmed today. Nothing literally else confirmed to me today. Again, here's finally the reason why the NASDAQ is aware of the issue. But guys, watch the video, right? And again, I'm not saying it's going to happen tomorrow. Hell, it might not even happen at all. But guys, watch the video. It's the same kind of setup as Tesla. It's been building now below multiple, multiple days of supplies. Does it have its days that it goes up five, six, seven points? Of course, because it's a $400 stock. But keep this in mind. So does Tesla, right? Tesla had those updates as well until it started losing major support. And when it started losing major support, look exactly what happened. So I'm definitely watching the video for the next couple of days. Does it mean the video has to confirm tomorrow? Of course not. You know, we can have a rally tomorrow and the video could go up 10. But the point is, again, like we say every single day, guys, make sure you are prepared on both sides. So there's no accidents. There are no surprises. And you're not the victim, right? You're not the victim. You are the person. You're the predator, right? Don't be the victim. Be the predator. You're the predator of this market. Trade because you get value. Don't trade because the market's open. And that will give you a really good step on the other traders. So guys, have a great night, everybody. God bless. Hopefully this data issue is fixed. And with God's help, I'll see you all tomorrow. Take care.