 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 theAxisandTrader.com. Nightly wrap up show up. Everybody is doing well. Last time we spoke, the world was all good, right? Last time we spoke, it was Tuesday last night. I had some things to do. I couldn't record a video, that stuff, you know how it is. Last time we spoke, we had this beautiful flag. Everything was going great. And as soon as I recorded the video and we uploaded it and all that good stuff came the news that Fitch downgrades the United States rating, blah, blah, blah. Yeah, not so much. Forget about that damn bull flag. And yesterday we had a really, really aggressive session as you guys can imagine. Everything just imploded, really imploded, you know, stocks got hit, investors got caught off guard. I mean, how can you sit there and possibly even imagine, you know, news like this would come. And the market is now giving us three really aggressive curveballs. Just in the last, you know, a couple of weeks, we saw that Japan news sell off the market. You guys remember, Q's went down 10 points in today, only to the next day, they kind of said, ah, we changed our minds for the market to rally. We were flagging for the last three days. Then yesterday came out that big, that big, you know, report that the Fitch has downgraded the United States credit rating. And I'm sitting there, I'm like, you know, going into today's earnings, we just got finished trading, you know, some after hours plays, you know, some Amazon report, Apple report. We'll get to that. And I'm like, how the hell am I going to record a video right now? You know, like right now, you know, Amazon is ripping. Apple is getting hit, you know, 15 minutes after I stopped recording, Apple could be at the $215 and Amazon could go right in the day. So it's a very, very fluid situation, guys. Remember, when I'm recording these videos, I'm recording them usually before 5pm. You know, anything could happen, right? Anything and everything is always on the table. So most of the time, the game plan, the thought process is there. But when you have, you know, breaking news in the middle, you know, after you recorded your video, God knows, you know, everything is off the table. So hopefully everybody survived the last couple of days. Yes, they was really good, very, very aggressive. You know, you guys remember Tesla a couple of weeks ago was forming the flag. We actually finally got the flag yesterday to the downside. It held the 50-day moving average, something that we have to watch. But let's get into the earnings, right? Let's get to the earnings and then we'll get to the kind of the macro view of where we are. So where do we start, right? We have a lot of earnings. Let's start off with Amazon. Amazon reported after the close looks like a pretty bullish earnings report. Stock is up roughly, you know, seven and a half percent. It looks like the AWS is holding up very, very well. That's the whole cloud space. That's the whole issue that Microsoft actually blamed their quarters. If you guys remember, we saw going into the Amazon earnings for the last week or so. We saw the 135, the 140 calls. And if you look where Amazon right now is at 138 after hours, obviously the stock is now above yearly highs and, you know, for tomorrow, right? Depending how high the stock goes tomorrow, I know if the gains still are there, we're going to watch opening range highs for tomorrow on Amazon. Just because the momentum names on both the up and to the downside have been working really, really well into earnings season. Microsoft opening range lows got hit. Tesla opening range lows got hit. Netflix opening range lows got hit. And on the flip side, the same thing on the upside. Google was good. Meta was good. So we're definitely watching Amazon if it could hold its gains and take out after hours highs for tomorrow. Apple, not so much, right? Apple, you know, opened the day and closed the day below the 20 day moving average. That was a really big deal and it wouldn't have been any thought process to take it short overnight, but hey, they came out with earnings. So they did come out with earnings. Looks like everything, their other core businesses looked pretty good, right? I was just looking at the headlines, listening to the squad box. However, what's taking down the stock after the close and it's down, you know, it's down roughly about two and a half percent. But what's taking down the stock at the close as of right now, again, they haven't started their conference call by the time you watch this. This thing could be a 175 or it could be a 205. I have no idea. But before the conference call has started, they are taking down the stock. They're blaming light iPhone sales, which is crazy because 10 year olds have iPhones before they could even get out of diapers. But hey, you know, again, to each his own. But Apple, you know, is definitely taking down the market. And if you look at all the market participants, if you see who's controlling the market and the depending on where your, your, your value is, you know, Apple, you know, with all the stocks doing, you know, pretty well. Apple is taking down this tape right now. Again, it doesn't translate. It won't translate or maybe not translate into tomorrow's session. But as of right now, before the conference call, it's being taken down. Talk about a round trip on Coinbase. They also reported today, look at this move and congratulations for all you guys who caught that 96 pivot in the webinar off the earnings went all the way up to 100 and look at the reverse course, right? Yet square come out with earnings. Okay, square come out earnings. Same thing, initial move up and then they sold it off. So, you know, we're getting a pretty aggressive, pretty aggressive session tonight on the earnings. Also after the close, man, there's just so much. They're just coming one after another. That's what she said. That's what he said. That's what I just said. NET again, also in the cloud space doing well, right? Doing well up about, up about 7%. So you have the cloud names doing well after hours. Amazon and NET and you have pretty much everything else, square or block, Apple, Coinbase all taking it on the chin. But let's talk about where the macro level is from the phase value where we start the day. If you guys remember this whole market, this whole linear move, this whole rally, since we reclaimed the January 11 highs has been predicated on holding the 20 day moving average. And you can see here every single time we touched the 20 day going back to early May, what happened the next day? We bounced, right? The next time we touched in early in middle of June, right? Touch the 20 day, what happened next? We bounced. We kept on bouncing, bouncing. Yesterday was the first day that we closed below the 20 day moving average on that very, very violent sell off. And today was day two. We actually took out yesterday's channels and closed. So based on what Apple does tonight, again, and that's the whole point on phase value, this is not good, right? Everybody understand that the fact that we're building two days below the 20 day moving average, but the problem is not the problem, but the answer is the question is, what's Apple going to do after their conference call? If Apple could turn around and start rallying, they could easily, right? The Q's can easily reclaim after hours, the 20 day moving average and start moving higher. So everything going into tomorrow, and this is why it's so tough to kind of record your thoughts for the next trading day, because you have two of the biggest stocks haven't even come out with their conference call yet, let alone with the, with the file price action is going to be into the ECN close. But it's such a, you know, it's such a fluid situation that's going on. The only thing that we can do is prepare on both sides. And that's the most important part. Again, like I said, like I say, every single video, you know, I'm not trying to guess. I'm not trying to be perfect. I'm not trying to be right. I'm trying to be prepared. That's it. I'm trying to be prepared for all you guys in the webinar. You kind of know every single day, we both, we have channels to the upside. We're not guessing. We're not trying to be the smartest person in the room. We're trying to be the most professional. We're trying to be the most respectful of price action. Because again, if you are in this business for guessing and try to be right for clicks and shares and likes and all that BS that goes along with social media, it's very obvious, right? We're traders. We're trying to get the biggest bang for our buck without giving us the biggest exposure to pain. And when you have an overnight like this so fluid, you know, one news flash after another macro news, headline news, earnings news, it gets a little bit, you know, it gets a little bit crazy throughout the day. And you saw today, there was ups and downs and ups and downs. You know, I only traded a handful of times today, got a couple of scalps, nothing really crazy. Because again, we did put an inside day below yesterday's channel. And that's not really a good thing. When you look at the SPYs going into tomorrow, you could see the same thing. Second day in a row below the 20 day moving average. Again, if Apple, if Apple cannot save the market tomorrow, right? Because again, it's pretty obvious to see if you look at, if you look at the Qs right now, right? If you look at the Qs right now, the Qs are 174, right? Where do they close? They pretty much they're flat, right? They're pretty much flat. So what is that telling you? Okay, Amazon is up. Amazon's up literally what 7% and Apple is down 2% and the Qs are flat. So it really shows you how strong the influence is on Apple after hours and just in general and such. So it's very, very important for the bulls to reclaim back the 375, at least on the close for tomorrow that will reclaim the 20 day moving average. But if Apple cannot save the market and we start coming down below today's channels, then we're going to start building a longer base below the 20 day. And again, if you reference the 20 day moving average throughout this whole rally, it's been intact for the exception of the last couple of days. And at least the last couple of days, we have a point of reference, we have a catalyst, which is the Fitch downgrade. Now the speculation is Moody's going to come in. Is Morningstar going to come in? Is S&P going to come in to do exactly the same thing? We don't know. This is all speculation and you can't live on life trying to figure out the unknown. You've got to live in the moment and kind of be prepared to see what's next. But we don't know what's next and that's what's called the scariest part about it. So going into tomorrow, face valley, right? Face valley. Again, we're still trying to figure out what Apple does after the conference call. But day two, we're building below the 20 day moving average, both on the 20 day, on the cues and on the spies. And if Apple doesn't come out swinging today and really give shareholders some really, really great momentum news going forward, well, there's a good chance we'll have a day three accumulation under the 20. And the most important part is guys, and always remember this, the longer they build the base underneath supply, that's not a good thing. So it's super duper important for Apple to wake up tonight, wake up tonight, get the bulls going, start reclaiming today's highs and start reclaiming back the 20 day moving average. Guys, God bless. I will see you all tomorrow in the field. Should be another wild one. Have a great night. I will see you all tomorrow. Take care.