 But just keep this in mind. This is a very, very important point, like we talked about in the weekend video, right? The cheat code is to keep hackin'. 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 TheAxisToTrader.com, nightly wrap-up show. Hope everybody is doing well. Hope everybody had a wonderful three-day weekend, and hope everybody did well trading today. So again, as this movie continues, now we are day six, right? We're day six underneath the 50-day moving average on the NASDAQ 100. We are day three on the IWM, and we are day, let's see here, one, two, three, four, five on the SPY. So the narrative hasn't changed, right? It's very, very tough to kind of spin what's going on here. We lost the 50-day, we're building below the 50-day, and the longer we stay below the 50-day and get comfortable with the 50-day, more stocks are going to continue to get lower. Again, the bulls need to wake up. They need to start at least taking out the previous days high to kind of start making a stand. Again, it's not going to take one day that the bulls are just going to literally take an engulf and candle and take away all the selling that we've seen here for the last week, but they have to really start getting into baby steps. And the more days go by, it's literally the same thing. Again, the market gaps up, the market gets stuffed into supply, and the market goes red at some times, and it's the same movie over and over and over again. And people start seeing futures green in the morning. They think this is it, this is the reversal, and it's not. Reversals, it's very, very tough to get a reversal if you are gapping into supply. Reversals usually come when people can't take it anymore. When retail public are sitting there the night before and be like, I can't believe the Nasdaq is down again. I can't believe my positions are down again. How can the video be down 17 days in a row? How can Microsoft continue to go, that way that's what a bear scenario is. The only way you can get a true, at least a dead cat bounce. I don't want to use the word reversal, but at least if you're looking for a dead cat bounce, you have to have one major event happening and it's not a gap up, right? What we've seen now for the last five, six days, literally every single time, including Thursday, including Friday, including this morning, any single time you get a gap up in the futures pre-market, for some reason, people are buying stocks pre-market like it's the last day on earth and they get stuffed into supply, that's what happens. When you lose demand, demand becomes supply. So what happens, people start buying stocks into supply, emotional buyers meet technical sellers, emotional sellers, emotional buyers will lose 90, 95 out of 100 times and that's what happens over and over and over again. What needs to happen to get a little bit of a relief rally, right? And again, it's something that you have to be conscious because again, ever since we started talking about the loss of the 50-day moving average, I keep on reiterating the point, the market's not gonna go straight down. It feels like it's going straight down. The value, it seems like it's going straight down but we all know, again, just the same way stocks can't go straight up when there's a bullish tape, right? Just like we had when we reclaimed the 50-day moving average, there's definitely days the markets took some profits the same way, right? The same way the market can't go straight down. Eventually, sellers get tired but for the sellers to get tired, a major occurrence needs to happen and that is called throw the baby out with the bathwater which basically means if Mr. Jones is looking at his account today and he's long in the video at, I don't know, 300 and he looks at his account today and he goes, I can't believe this thing's at 134. That's it. If it goes down again tomorrow, I'm gonna watch this thing tomorrow. If this thing goes down again tomorrow, I'm gonna be out and Mr. Jones and then Mr. Smith and Mr. Williams and the next thing you know, it's a domino effect. You have a whole bunch of retail public that just cannot take the pain anymore. They're long at levels that are so high up they can't even fathom that the market can recover that their money can recover as well. So that's called sell first, ask questions later. If the bulls wanna rally and again, nobody knows what the hell's gonna happen tomorrow but if the bulls wanna rally, the last thing they continue to wanna see is gap up in futures. You don't wanna see that. What you wanna see is down 500, 600 points on the Dow, Dow 300, 400 points on the Nasdaq literally have Mr. Jones wake up and go, that's it. Sell my stock at any price. I don't care what price, sell my stock at any price. F this market, F everybody else in it. I'm going back to Bitcoin. That's a whole different story. Just joking around of course, right? And everybody needs to sell at once. They need to sell pre-market lows. They need to establish something called shorting into the hole. New short sellers come in at disadvantageous prices. And next thing you know, you have a snowball effect and that is called throw the baby out of the bathwater at some point, 10, 11 o'clock, they reverse and then they start going red to green. That's what the bulls need. Until that happens, it's very, very tough to get a gap in gold market when everything is sitting in supply. Matter of fact, we saw today when everything was green. All I kept on saying, at morning strategy, all through the first half hour of the day, I don't want to buy anything. I don't want to buy anything. I don't want to buy anything. Just wait, just wait, just wait. Things will get comfortable. Things will get comfortable. Things will get comfortable. And next thing you know, things start selling off. That's exactly what happened today. How do you get this damn thing down by the way? Anyway, and that's exactly what happened today here. The last thing you want is a scenario that you're forced to do anything. And I've always maintained the position on the way up, right? You want to make sales when you want to, not when you have to. On your way down, you want to control risk, right? You want to, if you're especially along by his bull, you want to control risk. You don't want to be told that when you need to sell stock, you want to make sales. You want to make proper reads. And that's exactly what happened the first date that the NASDAQ 100 closed below the 50 day moving average. It wasn't a scenario of great call. This is what happened next. It was a scenario of, oh my God, this is where we are again after we were seeing where we were the first time here, here was my job to prepare, right? Here was my job as an investor, as a trader to kind of take off the rose-colored glasses and stop saying, well, I hope my stock recovers. Well, now my next question is, well, what do I do if it doesn't? And that's where the 50 day came in and that's where we are six days lower. Now again, is it possible at any day we have a relief rally? Absolutely, but if the bulls want to really have a snowball chance in hell, right? To actually sustain a debt-cat rally for maybe one day, maybe spill over the next day, there needs to be violence. The market needs to wake up and choose violence. Your stocks need to be sold off very, very aggressively at the open and short sellers get trapped opening range lows only to turn around red to green, yada, yada, yada. And hopefully you get that big move down. But just in case there is some sort of relief rally, and again, I would say looking at my list for tomorrow, yeah, 95% of what I'm watching tomorrow is back to the downside because that's kind of where the trend is. This is where we continue to see value. But is it really crazy to say if we do rally, maybe look at it, maybe look at a Lululemon, right? Lululemon had a good earnings report, right? Had a really good earnings report, held this bottom range here. So if we do rally, again, don't you have to be prepared on both sides? If you do rally, don't you want to go with the one that is at least viable, that at least had a catalyst, that at least didn't sell off with the rest of markets sell off? So again, you don't need 100 stocks to be right on the long side. All you need is one. And if Lulule starts getting above this channel here in the next day or so, if we do have some sort of relief rally, again, it's a name you definitely want to keep an eye on. But the common denominator, again, that was for Wednesday, for Thursday, for Friday, today, it's still the same thing. Stocks losing, they're 50-day moving average, stocks confirming they're moving, 50-day moving average, and they continue to get sold. And that's exactly where I'm hoping the value continues to be tomorrow. But again, if things turn around and there's channels to be to the upside, you know, we'll be there again, because we're prepared and that's the most important thing. And that's the only thing you can ask for yourself, be prepared, stay prepared, because again, you have to have the ability to shift. But just keep this in mind, this is a very, very important point, like we talked about in the weekend video, right? The cheat code is, the cheat hack is, above the 50 long, below the 50 short, there's a very, very simplistic second alternative to everything that we talk about, which is as important. The only way a stock can go higher, and I've repeated this 100 times, but there's a lot of new viewers, the only way a stock can go higher, the market can go higher, the market needs to take out the previous day's highs. That's it, there's no possible way on God's green earth, or any earth, or any planet, or any solar system, that the market could go higher, the stock can go higher if it doesn't take out the previous day's high, and there's no way a stock can go lower if it doesn't take out the previous day's low and builds below those levels. And that's exactly what we saw today, some really good aggressive value again at the open, and then the market pretty much did nothing for the rest of the day, it just drift up, drift down, drift up, drift down, but that's exactly what a sell bias market is, it's the initial aggression based on the previous day's research, and then it drifts, right? There's absolutely nothing, that's why I always said, and what we keep on reiterating this point in the webinar, you have a window, right? You have a window of opportunity from 9.30 in the morning to about one o'clock Eastern time, and then you go through a dead zone, channels contract, and then you're gonna turn yourself into your account if you decide to keep on pressing and pressing and trading, trading in the afternoon, there's something I've always said, if you like a setup in the afternoon, you're going to love the same setup in the morning. So let's talk about today's session, again, very aggressive session today, again, we talked about same levels over and over and over again. Tesla, again, held that 266 level, it pierced it for a second, went down to two, what is it, 265.75, right? So for all intents and purposes, held that 266 level again. That's gonna be the line in the sand for the next few days. We did see some aggressive put buying continue to come in, some size buyers continue to come in for the 9.60, excuse me, 9.65, 265 weeklies, one after another, after another. Heavy, really, really heavy buying coming in all the morning. Let's see if it starts to confirm at some point in the next couple of days. Starbucks, not a big move at all, 52.50, 82, if it builds below can flush, here was Starbucks, not a big move at all. It went down like what, 30, 40 cents, right? Here comes the 82.50, 82, went down to 81.67, again, not a big move before it reversed. Honeywell, again, we talked about Honeywell on the weekend update, 186 if it builds below can flush through the 50 day. Again, not a big move, but again, it's a move, right? It's a move, it lost the 50 day, went down about two boxes, the lowest close in the whole formation. If it starts losing back that 184 in the next few days, it can go lower, nothing crazy there. ZS stopped right at that 142 level. Guys, set an alert on the ZS, again, that 142 is held now twice. If it starts building, it could get lower. CSX did absolutely nothing, never even came close to that 31 level, so just keep set an alert here. FAST, that $50 level was a big, big level, and it keeps, they kept on defending that level here. And you can see it now five times in a row, man, they defend that 50 level. This is still a work in progress here, but if this thing starts building below that 50, it's going to get hit, never got there. Apple, 154.67 if it builds below can flush. There is an Apple event for tomorrow, not a big move, right? Not a big move on Apple. You'll see the big moves in a second, but it started losing the 54 change area. It went down about a dollar, and then that Bollinger bell held up. So we still have to watch it for tomorrow, but there is an iPhone event. Meta 159.20 if it builds below can flush. Excuse me, I skipped over Amazon. Amazon 126.30, 126 if it builds below can flush. It was Amazon, went down into the 124. There was another name, short-term expiration. They were coming for the 125s, the 120s. So again, if the market continues the weakness, I want to watch this thing below today's channel again. Meta 59.20 if it builds below can flush. Here's Meta, right? Here's Meta. They were pulling these things. That's super crazy, but they were pulling them. Here's the 159.20, went down to 157 and change. I still like this thing for tomorrow if they continue to take down the stock. This was definitely the big move here. We were watching, usually Netflix, for Netflix to get really aggressive, it needs option flow, right? Just because it's not as the thickest stock in the world. There was a guy who came in for the October 210 puts, about $959,000 worth of premium. And this is what really took down the stock. I thought it had a shot to 13. It got down to like 14 and change. Ironically, well, not ironically, but this is a nice move. I mean, really, really nice move. I thought it was gonna get down to this 13.50 level. It stopped in the 14.50 level. If it starts losing that 13, man, this thing's gonna get hit. So keep an eye on this thing. Usually, institutional option flow comes in. They get really, really aggressive if they continue to start build. So nice move on Netflix and that's it, that's it. So I think we're set up, right? Again, the last thing you want to do, right? The last thing you really, really wanna do is concentrate on overextended names, right? The Microsoft and the videos. Yeah, they can go lower, but the value is shrinking. Every single day, the longer it's away from its 50-day moving average, the higher probability, those are the needed stocks that they're going to reverse first. So be very, very wary on that. You wanna watch stocks that are close, tight to their 50-day moving average. So if they lose their channel and they reclaim the losses or pennies instead of the losses of dollar, again, remember the old adage. Again, if you're gonna jump, jump from the first floor, not from the 10th. Quick announcement tomorrow. The gentleman, Kyler, who edits all these videos as a phenomenal, phenomenal job, he will be traveling tomorrow. So just a heads up, there is no video tomorrow. The video will resume again on Thursday. Guys, have a great afternoon, have a blessed day and I'll see you all tomorrow. Take care.