 So 200 is not gonna be a psychological area, right? It's just an area that it really needs to confirm. And what's cool about this trade on the video, especially if you're a intraday trader. 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, happy weekend everybody. And welcome to another edition of the accessatrader.com weekend update show. Hope everybody is doing well. Forget, please forgive the outfit. I am going to like 35 different kids' sporting events and I'm not gonna change. I'm not gonna change, so forgive about the outfit. Anyway guys, hope everybody's doing well. Let's talk about the tape, right? If you've been watching this broadcast just for the last week or so, you saw the significance again, what technical analysis does. The scoreboard is cool. Again, it's water cooler talk, but the definition of technical analysis and gathering data is for you to plan out your next move. And you kind of saw this plan out and how really good and strong the bull market case has been in such a long time. Again, we had this exhaustion channel two weeks ago. The markets were tired. If you remember two weeks ago, literally every single day we were sell by sell by sell by not that we believe that the market was gonna crash but the market was just very, very tired and needed a break. And here came July the 19th and the market gap down in true form of any bullish cycle. This is, we've been in this bullish cycle since before Trump, right? Before Trump became president. And what happened was it really does show you that the bull case is still alive. And I joke around all the time by the dip, by the dip, by the dip. It's all fun and games until it ends. But so far it's proven that it hasn't ended. And the market got very, very strong, very decisive. The Q's reclaimed 355 on this whole macro channel. If you look at the SPY, they held the 50 day moving average. Again, look how many times it's tested the 50 day moving average in the last, well, let's see here, it's going back to January it's going back to March, right? So March 25th, they tested the 50 day moving average they held on March, on, excuse me, on May the 12th they tested it, they held on May the 19th a week later they tested it at 12, what days this June they tested it 12, tested it held. And once again in true bull market form they held again and put up this really, really big room big move. And if you look at the, at the school board it actually does kind of look, you know really, really how aggressive it was. You have the Nasdaq up nearly 3% the S&P up about 2% for the week really, really strong action. And the most important part of what we saw this week was everything rally. Usually you'd look at a market and you turn around and say, well, it's just the small cap market that's rally, right? Speculation, ah, it's just the energy stocks that are pulling everything up. Ah, you know, it's just segregated to the semiconductors or maybe just into the cloud beans. You had everything, you know you had financials doing very, very well. I mean, look at the move on Goldman Sachs it had a move from 349 all the way to 375 and four sessions that's a big deal, right? You don't see that all the time throughout the week. You see, you had financials going absolutely nuts. Even a name like IBM had, which again 30, 40 years ago, IBM was like the creme de la creme, right? It was the market leader. You remember the first IBM laptop? It was like 98 pounds and it was like $8,000, right? Long gone, right? Long gone then, but since then, you know the company has been having struggles, right? They've been missing, hit or miss very, very frequently in quarters but they had their best quarter probably in the last three, four years it shows you how the dynamics of everything is and the most impressive part for me at least this week because these are the names that we cover that we really focus on is the Nasdaq 100, right? You have technology names and you know they could have broken, they could have rolled over and they could have confirmed this whole channel right back down and we would have been having this conversation somewhere around here this week towards the end of the weekend but they didn't, right? And that's the most important part and this is kind of what we try to echo especially to the newer traders, don't guess, right? Don't guess. We had the opinion here that the market was weak. We had the opinion it continued to be weak. We had the opinion that ranges are starting to lose in a lot of names but as soon as they held that level your opinion has to change because the dynamics have changed. Your thought process needs to change. The overall spectrum of the overall puzzle has changed and you have to flip. You have to flip very, very quickly and never paint yourself in a corner and what we've seen from that bottom that remount of the 355 levels on the Qs to kind of where we are now is a dramatic statement by the bulls. We're knee deep right now into earning season. This week we have the mother load, right? We have the Super Bowl of earnings. Let's see what we got. We got Tesla on Monday, right? We got Tesla on Monday. We got, let's see, we also on Monday. Tesla, Tesla's gonna be the one, right? Tesla's on Monday. Tuesday is a Super Bowl or at least the conference finals. You have Microsoft, Google, Apple, AMD, GE, Starbucks, they got upgraded on Friday. We'll get to the pivots in a second. We got Visa, we got TDOC, we got JetBlue, we got TripleM, we got a lot of stuff going on. Wednesday, you got Facebook. You got, let's see here, you got Facebook. You have Boeing, you have Shopify. Had a monster, monster move this week. You got PayPal, Qualcomm, Spotify. You know, in the following week, you got Square or Roku. And let's talk about Roku for a second, right? Usually, I follow Roku. It's one of the names that we trade all the time. Can we talk about for a second what the hell happened to Roku on Friday, right? What in the name of God happened on Friday on Roku? And I was looking at headlines and I just couldn't, I said, well, it has to be an upgrade somewhere. There has to be chatter. Maybe are they going private this weekend? There's somebody like, what the hell happened to Roku? You had no news. You had no upgrades, no initiation, no materialistic news that came out. You had no chatter, but yet the stock out of nowhere. And I'm talking about, it didn't even take out a level. Until you really looked up on Friday, I looked at Friday, I go, well, why is Roku at 440, right? And I saw it towards like 10 o'clock, 10, 15. They started buying like the 440 calls and the 445 calls, I go, I don't get it. I go, let's wait for a dip. All right, this is the first thing I said. Let's wait for a dip. That dip never came. I mean, that dip did not come. And I don't know what's going on. Would I be shocked if some news came out on Monday after, you know, this video was released and all of a sudden you hear that blah, blah, blah, blah, blah is, you know, interested in Roku? I wouldn't shock me. Look at this move, just an absolute insane move. If anybody has seen any, you know, really news on Roku, I would love to, I would love to, you know, to know what it was, but an absolute crazy move. And that really reflects of what's been going on with the NASDAQ 100 names. You have big meltups on a lot of names. You have this crazy candle on random times on different names, and this is where we are right now. So you could turn around and say, well, this rally is being led by, you know, five or six NASDAQ names. Okay, right? You got to participate in those names. You know, when you look at this week, what happened? You saw, you know, a really nice move on Apple. You know, you saw Apple. You saw Microsoft breakout, Amazon. We've been talking about Nausea from this five-day remount of 3593. Went to almost 3670 in two sessions. You know, you have, look at Facebook did, right? Look at Facebook did yesterday on the strength and the tailwind of a snap, right? On a snap, really good quarter. On a Twitter, really good quarter for my e-signal. Again, would update would be really, really nice. Dimensions right now, dimensions right now in this market are very, very strong. Can they continue to rally into next week ahead of all these earnings? Yeah, why not? Right, why not? Look, we're not naive to think the market can come crashing down at any time, but at least for now, let's continue, right? Let's continue the dynamics. Let's continue the themes. Continue to kind of leave the extended names alone, right? Like I really have no interest anymore on Amazon exception for dips, but if you look at, there's so many names popping out of channels on the bottom of the range going into the next week, do you really need to keep on riding Amazon, right? If you have a runner, you have a runner, but do you really need to start really focusing on Facebook after this gigantic move in four days, right? Facebook went from 334 to nearly 376 in four days. Do you really need to figure, if you have a runner, that's great. If you're buying them on weakness into rising 60 minutes support, that's fantastic. But I think you have to start looking at other names that are coming out of tight channels, whether macro or otherwise, and continue the theme, right? You get a breakout, you get a follow-through and you get a third day run. You got a breakout, you got a follow-through, you got a third day run. And at this juncture of the market, we're looking for the first day bounces either on Roku, right? So obviously on Roku, if it doesn't gap up on Monday, would it shock me to go up at no 20 points after what I saw on Friday? No, but the value play on Roku for Monday would be buying it for a dip. I know the word dip didn't exist Friday, right? It was no down tick day for Roku, but if there's a dip into Roku on Monday into rising 60 minutes support, that's the value, right? I'm not buying this thing on Monday up 27 points if it gaps up, but a dip into rising support going red to green, that could be a really, really strong play. But let's concentrate, right? Let's start looking at names that didn't rally, right? Or at least didn't make that big macro reclaim yet, right? And if you look at names for example, like TTD got upgraded on Friday, and this thing is literally, and first of all, had a very, very strong day on Friday, put in its average range. And if you look at this whole channel here, this looks really, really good. I have to check their earnings date, but this looks really, really good. If this thing starts really confirming this channel, and again, assuming they don't have earnings in the next day or so, look at which room you have. You have a lot of room coming. You still have a lot of room coming in the trade. Look at a company, look at a stock like match.com, right? Match.com, right? The same thing, you have a very nice channel that started on June the 24th. You have a long base, you have big volume starting to expand. If this thing is above the channel, again, look how much room you have. Again, checked earnings. Even a stock like digs.com, right? Or digs sporting goods. I don't want to freak anybody out. I know everybody's sensitive. But right, look at this channel here on digs sporting goods, right? Look at it, it finally broke out on Friday. I think the value play, like I don't think you want to buy digs into strength. That's what it said, right? But you want to buy it on the dip. So if you get a dip, a rising 60-minute dip on digs, it looks good. If it starts confirming yesterday's channel, again, maybe it finally starts its next leg up. And even a name like Noviti, right? So Noviti has just been a monster, had a huge run. We started seeing, and again, granted, the stock has been on a big run, but you can see there's a really cool channel here developing. And what's cool about this channel is it's right around the $200 level. So if that's a psychological number, and again, people use the word psychological on social media, it really doesn't mean anything, you're just going to find the most liquidity at that number. You're seeing investors selling, you're going to be seeing funds selling, you're going to see buys, funds buying, you're going to be retail buying. So $200 is not going to be a psychological area, right? It's just an area that it really needs to confirm. And what's cool about this trade on Noviti, especially if you're a intraday trader, if it fails at 200 level, right? It's kind of rejected there several times. If it fails at 200 level, just get out of the trade, right? It's going to be very, very quickly. It has to, especially that quote unquote, psychological level, if it busts through, you have a potential going to the upper Bollinger band of 211 before earnings. And on the downside, you have very, very limited risk because if it stalls out there the third time around, well, why would you want to be in the trade? So we're trying to think, we're trying to use our brains and take advantage of the strength of the market without the exposure or overextension on some names. Can those names continue? Absolutely. Can those names continue to get bought on dips? You need to. That's the only way to get into those trades right now. But for the stocks that are still sitting there that are on the verge to kind of join, quote unquote, the party, that's where you want to focus. And look at a stock like Chewy, right? Look at a name like Chewy. I use Chewy all the time. I get it for all you guys who are pet lovers that have not been on Chewy. We have a month, we have a month to month system there. I think my wife orders it for month to month. Fantastic company, right? You got dog food, you got cat food, you got all that crap, right? And but look at this thing. Look how close this thing is to reclaiming, right? Look how close this thing is reclaiming macro supplies and putting it in a move. So if you put in your work this weekend you will find a lot of names that are not up $26 for a two, three session. You still find a lot of value. And if that value confirms you still have a really good advantage of joining this whole participation parade that technology is having without having the overextended risk on a lot of these names. So going into Monday, of course, you have to be bullish until you're not, right? And that's the whole point of technical analysis. It's tell you which way the wind is blowing. So let's talk about some pivots. Let's talk about some pivots from Friday's session. You had a lot of stuff here. You had a lot of stuff going on. You had a lot of aggressive moves. Even a name like Netflix. And this is what's kind of cool about, and we talked about this all the time. This is what's kind of cool about pivots. I had a short on Netflix to the downside. And it was decent, it was nothing huge, but it was decent and it held the double bottom. And this thing went red to green and how to push as well. So you could take advantage on both sides. That's the cool part about trading technology, especially the beta names that have a huge average range because the channels expand. And unfortunately, not every single group or not every single industry can say that, but the beta names you absolutely can. So let's talk about Friday's session. And, okay, let's see here. Yeah, so, yeah, so fantastic move, fantastic move on, let's talk about Amazon, 3593, that was the pivot from Thursday. It just absolutely exploded. And I said, look, congratulations, all you guys have it overnight. If you can get above 3657, you could get a push into the 3670s. It traded to 3668. So it was a really, really strong name. I still like Zoom, didn't confirm. I still like NVIDIA, didn't confirm. LRCX was very sporadic, was very sporadic on Friday. And he put up like a $4 candle, but it was a very, very inconsistent trade on Friday. That's the best way of saying it. I didn't trade it myself. It was just a little too wide for me. The cool part about how strong this market is, think about what happened and think about the strength of this tape in this matter. You had Intel missed earnings, semis didn't move. You had Texas Instruments missed earnings, semis didn't move. This shows you how strong this tape is and how investors are still very, very committed to this rally. So let's talk about some obviously other names. Crowd1Nuts, 266 and 270 macro channels needs to build. Here was Crowd. So it took out the 266, it took out the 270 and went to almost 273. Really, really strong move there, big move there. I wasn't watching ILM, what the hell did it do? ILMN, what the hell did it do? ILM took out 490, I didn't see it at all. Took out 490, closed at the high of the day for almost 496. I didn't see it, this thing still looks really, really good. If you got some guys, good job there. Twitter, I just scouted, excuse me, that's Twitter. Starbucks, I just scouted. So I haven't traded Starbucks, which is so ironic because I go to Starbucks twice a day. I scouted there for some cash flow. It had a decent move towards the middle of the day. Nothing huge, they report next week. Here was the opening range print right over here. So I scouted into this area, came back in and then reclaimed it went. Traded to like 126.30s, wasn't a clean move. Wasn't a clean move at all, but I scouted some for some cash flow, whatever. Nothing big, nothing there. Twitter is 74, never got there, but there was a sneakier pivot before 74. We'll get to that in a second. Two low, four 10, only want a couple of bucks here. Here's a sneaky pivot I was talking about. Twitter for experienced traders only, 72.20 needs to build, went to like 73.40s. Boeing 224, 224.20 needs to build. Just got to that area, never gave you a second entry. Tesla, I made a couple of coffee on Tesla on this short. They just wouldn't break it. They just would not break that 40 level and I was watching it. I was watching this 40 level and you'll see here right here. I was watching this 40 level held once, it held twice. So it went down, it went down only like a dollar and they did a little less than the dollar and they just couldn't break it, couldn't break it, couldn't break it. The futures are getting stronger. So I covered it for a cup of coffee and it reclaimed the level here. Here's the interesting part. Going into Monday's session, you usually would see really aggressive bets being made especially ahead of earnings. We really did not see that on Friday. We didn't see really aggressive call buyers. We really didn't see very aggressive put buyers. The question is again, nobody knows what's going to happen on earnings on Monday, right? If you really knew you'd be all in and every single penny you have, nobody knows, right? Even if the earnings are good, we don't know how the stock is going to react. They're bad. We don't know how the stock is going to react. So before everybody says, well, Tesla's going to do this, nobody knows. Let's be honest with ourselves, nobody knows. But it will be interesting to see but at least we do know, the one thing we do know, we know the channels to the upside, we know the channels to the downside and those channels we will be watching post earnings. So we will see exactly what happens with Tesla. 505, we actually shorted it before the 505 area. I was shorting the 506s on the opening range. You went to like a 504 and change. I covered most of it, it just didn't crack. Just reclaim that 505 really quickly again but there was a pivot back to the upside. Crowd, big move, went to all the 272, exploding again, take on the way down. It just really wasn't a big move on the way down. That was the only problem. Starbucks, 126 on deck, nice little move there. Netflix, again, here's a trade right back to the top. It held the bottom of the range, has not been green since earnings for experienced traders only, 512 needs to build for a possible move to 515 and here was Netflix, right? It took out that 512 and actually went to 517. So nice move there on Netflix. It was actually pretty seamless going red to green. It wasn't really a lot of resistance there. Just a reminder, keep watching the workshops, blah, blah, blah, blah, blah. Here, 515s on deck and that is about it. So that's it and it was a pretty good week. Pretty good week, a lot of good action. The most important part is again, get prepared for this week, do a lot of research, put in the manpower, right? Manpower, womanpower, I don't wanna be, I don't wanna paint anybody into a corner again. It's a very, very sensitive world. You gotta be careful what you say. But anyway, to put in the time guys, put in the research. A lot of you guys are still in your developing stages the first two, three years. You're still trying to figure out what you are in this business. These are very formidable years. The most important part in those first three years is number one, be very level headed. Don't rush your progress. Don't put a lot of pressure on yourself. And most important, understand that everything clicks in time. Time is the greatest teacher. Time is the greatest example of what not to do when you can pick your spots to omit in your trading. And the most important part is like I say, every single video, stay in business. Guys, have a great weekend. God bless, stay blessed and I'll see you all Monday.