 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 evening everybody. Welcome to another edition of the AccessToTrader.com Nightly Wrap-Up Show. Hope everybody is doing well. If you are brand new to the channel or are visiting us for the first time, please like, subscribe, and share. I come aboard this whole mess that we have on unadulterated, unbiased view of technical analysis in our place in it. So let's talk about the market. So we've been on this magical euphoric run. We talked about yesterday a lot of names. I just got a little bit tired. For example, Nvidia was definitely one of the names we were watching yesterday just because it put this inverted hammer. We talked about this last time in the video. Again, if you are brand new to technical analysis, like we keep on reiterating the point, start with the basics, right? The hammer is bullish, right? So if you look at the bottom of the channel here, here is a bottom channel hammer of Nvidia that's bullish and an inverted hammer is bearish. And today was pretty much a gravity reality check for Nvidia. The same thing with AMD and same thing with a lot of names. But just like every day that we see the market gets its footing, obviously the big story that's going to be going out throughout this whole evening is the whole debt ceiling vote. Obviously they came with a preliminary agreement over the weekend and now the bill is going to Congress, right? The bill is going to Congress. Let's see a last report here. Debt ceiling bill advances to the final House vote after McCarthy gets help for the Democrats. It should get done. Obviously by tomorrow we're going to have a lot more headlines, a lot more details of what happened in this vote, what the details are, what the ramifications and what stocks should be good and stocks should be bad. But for tonight, it's all about earnings, right? We saw a big niggs bag today on a lot of technology names. CRM came out on a little bit of a light quarter. The initial reaction was up and then it was down. Now it's pretty much flat. Crowd source is getting beat up a little bit after the close. Stocks down about 10%. You got Chewy, which is an awesome, awesome product company I order for my doggies, for my doggie once a month and OKTA is going on the other side of the spectrum down 12%. But the stock that everybody is watching, including myself, is definitely AI and it's not that AI is the leader of this whole AI movement. This right now is representing euphoria. It's representing speculation money. It's representing all that's good and aggressive in this market right now. And obviously when you're going to look back at history, the physical company AI with the coolest initials in the world, right? They're not going to be a factor. It's obviously going to be Microsoft, AMD, Nvidia, Google, Apple is going to play a big part in everybody else under the sun. But this one right now is going to be very, very important. And I believe right now the stock is down about six bucks after the close hasn't come out with earnings just yet. There's been really, really big buyers that come into this space in the last couple of days. Notably yesterday somebody bet a million dollars for short term $50 calls. We saw this morning and this afternoon for the 55s. We even saw the 65s. So I'm very, very curious to see what happens after they come out with earnings. And if this market really truly is this next level euphoria.com type of scenario, I don't think whatever they say is going to be as important as the reaction to it. So by the time you see this video, let's see if they come back, right? They come back and take this AI over back over 40 bucks to show that the speculation market is still aggressive. The euphoria chasers are still present and the bull market, the bull aggressive runaway train is still very, very active on the individual fronts. Let's talk about Tesla, right? Let's talk about Tesla really, really quickly. As we saw yesterday, as we talked about yesterday, Tesla is getting very, very close. This is definitely one of the names that held this sell off thing. Not that there was a big sell off. The Dow was down, the Nasdaq was down about 80, 85 points at most about 100 and change. But what I like what we saw about Tesla today didn't quite get down to the five day moving average, but it held up very, very well. And not only did it hold up very, very well. Look at this really aggressive candle into the close. Granted, there was a lot of rebalancing going on into the close. But this is so close, guys. Keep this on. This is so close to the top of the range. And the cool part what we saw today in the options market, they weren't just even coming for the 200s, 205 weeklies. They were coming for the 250s, the 240s, with like two weeks out of expiration. So it really does show you how important this base is. So keep an eye on this thing, guys. If this thing can get above this channel finally in the next couple of days, hopefully tomorrow, I think it's going to be all airspace. And the way they're betting, right? The way they're betting in the options market, they for some reason skip the 205s and the 210s and the 215s. They're literally going after the 220s, 240s and the 250 calls. So it's going to be very, very interesting to see. The couple of plays that I definitely, definitely want to watch tomorrow also on the short side in case the numbers on AI are bad. Because keep this in mind, they still have not reported their earnings. They're reporting in about 15 minutes at five o'clock Eastern time. But keep this in mind, they're also going to affect Microsoft, right? Microsoft, AMD, and NVIDIA and Google, right? And Microsoft as well. I think I said Microsoft as well. Let's face the numbers, bad guys. Let's watch the video for tomorrow, right? Let's keep an eye on this thing. If it loses the bottom channel, specifically the channel from May the 26th, I think there's a shot this thing gets down to the five day moving average. As we discussed on last night's video, this thing had an inverted hammer confirmed today, caught a piece of this move down, not a big one. Again, I didn't anticipate a $22 move on the video, but it is what it is. Still a pretty decent move there. But again, we want to definitely be prepared on both sides of the market. Let me give you guys some ideas for tomorrow. Obviously, again, we're still watching to see what happens here with AI, but it's all contingent. It's all contingent on what it's going to do as well. So let's talk about some ideas. Google, right? Take a look at Google just in case the market continues to pull. You see how many times Google held the bottom of the range here? It's held a 10 day moving average four times in a row, four days in a row. If it starts losing back the 10 day moving average, I think there's a shot against back to the bottom range, depending how strong or weak the market is. Obviously, everything is contingent upon confirmation. We don't anticipate. We don't guess we're waiting for that confirmation. So I'm definitely, definitely watching Google to the downside AMD and the video we just talked about as well. Roll blocks, I've been talking about three days and guess what? Your schmuck boy over here decided not to buy Roblox today after talking about it for four days after the 50 day moving average. Because I thought that the move is going to come tomorrow while it came today. First close over the 50 day moving average. They started coming to the $44, $45 weeklies. Keep an eye, guys. Keep an eye on Roblox for tomorrow. If it starts taking out this top of the range here, maybe this thing could start stretching. It looks pretty pretty good. Pat, really nice looking chart. Again, in the AI space, broke out today. We started talking about it a couple of days ago. Broke out today, got above this top of the range. All it needs to do is now confirm this whole entire cycle from the February highs. And this thing could start expanding as well. Obviously, if AI comes out with good earnings, it's only going to help it. And let me give you guys a couple of more names that I'm watching. Tesla, obviously, Roku, right? Let's keep an eye on Roku as well. Again, it looks similar to Roblox. Not exactly, but it looks similar. It's digesting underneath the 50 day supply. If Roku could get above this 50 day supply, I think it could stretch out as well. Other than that, there's nothing to really write home about about the indexes. You've got the spies backtested today, the five 10 day moving average and held. You have the cues today, basically just taking a rest. Taking a rest. Again, if the market pulls in one more day, is it possible we get down to the five day moving average? Sure. Absolutely. Again, gravity is real. We saw kind of this exhaustion cycle take place two weeks ago. So why can't we have exactly the same thing happening tomorrow? Again, here's a point that we want to make sure that we are prepared on both sides of the market. Other than that, guys, today is the last day of May. Hopefully everybody had a great May and the old adage, sell in May and go away. Apparently this schmuck and the rest of our schmucks didn't get the message because again, May was pretty damn aggressive. Guys, God bless. Hope everybody had a great trading day. Hope everybody is prepared for tomorrow. And with God's help, I'll see you all on the video. Take care.