FED Rate News! Now This Is What Is Next In The Stock Market For Day Traders! | PS60 Process

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 accessrader.com nightly wrap-up show. Thank you very much for tuning in, spending a couple of minutes uh listening to my nonsense. I always appreciate it. All I ask is uh take a second now, like the channel, click that uh like button. Hopefully, again, I will continue to spew my nonsense towards you. So uh we knew a couple things going into uh today's session. Number one, uh we knew that today is the Fed day, right? The expectations were that a 25% uh 25 basis point uh increase would happen. Uh that's exactly what happened today. First uh increase in 3 years. I believe it was 2023. Uh it also opened up some more doors for potential uh more hikes down the road. uh the market in a weird way. I liked it originally, liked the idea of it. It made all the sense in the world and then yada yada yada, not so much, right? Big big drop. Uh which again was not exactly what the bulls wanted the buying into uh the Fed meeting. But here's the kind of the second part that we knew going into today's session, right? Second part we knew and we talked about in last night's video was this definitive area here, right? You guys remember last night uh 70270 70270 70270 uh so after the news broke and they digested and the Q&A happened uh the market started selling off the cues pretty aggressively and there was a nice thick save at around 600 to kind of rally it back uh into the close. But if you guys if you watched last night's video, we talked about it. It's not going to be just a one time through. There was a couple of support zones, right? You got a support zone here. You got a support zone here. We talked about it in last night's video. All you got to do is any close below 697 now becomes a major major area because there is a hot pocket going from 697 all the way down to 683. But the first uh incision today was made. If you look at the final tally, you turn around and say, well, you know, Q's held up pretty well, right? They were, you know, up up 25 cents. The problem is that they were up nine, right? Uh, so here is kind of what we have going on for tomorrow's session. Again, I'm not going to sit here and bore you about the whole details of what the Federal Reserve said. I'm sure there's 2,200 uh 18-year-olds on TikTok that could thoroughly break down exactly uh what the Fed had and how it's going to affect your life. I'm not one of them cuz I just don't care that much. Price actions king opinions mean nothing. Your opinion, my opinion mean absolutely nothing. Stocks are either going to take out supply and go higher or they're going to take down demand and go lower. And today we saw uh the bulls attempt to reclaim back the 50-day moving average. They got rejected, got sold on the news. They violated the August 20 uh August lows. They went down to the next support roughly around the 700 area. The 700 area now becomes very very important. If there is a violation of 700, the next area here is again not that big. 698. Again, what we said a minute ago and we said last night in the video, any close uh let's just say 698 697. Any close 698 697 again, there is a measure potential all the way down to 683. The longer the bulls cannot reclaim back the 50-day moving average, especially on the close, the harder the harder reality will sink in that there will be lower price action. Again, all you need to do is go back to July the 15th. And for more information, what happens? So, it goes down to the next demand, goes down to the next demand, goes down to the next demand, and ultimately we did rally. So again, the longer the bulls can't reclaim back the 50-day moving average, the higher probability uh that we go lower. Speaking of probability, folks, if if you've been trading for a while, right, if you've been trading for a while, and you can't get your career started, uh I'm doing this for a long long time, almost three decades. Um there is an alternative to the norm, right? Uh all you got to do is hang out, come hang out uh in the webinar for about 30 days, see if it's a right fit for you. uh it might be something that you are not noticing in the regular tape that you can get an advantage of. And again, it's it's not for everybody and I've been saying this for years. I don't think pivots are for every everybody. Uh but if there is an alternative and you can't just get your career going, uh it might be worth a try. Other than that, let's talk about individual names. Um stocks that did not participate today and even any surge of uh any potential rally did not participate. And if we do confirm today's lows tomorrow, these will be on the table, guys. We talked about Micron yesterday. It's just it's hanging on, folks. Micron is just hanging on the 50-day moving average. Look at Sandis. Sandis now has stopped three days in a row on the 50-day. See how tight this is getting, man. This is something that is if this thing just starts losing the 50-day moving average, this thing could really, really get hit, man. Look at this. Three days in a row on the 50-day. This is this turquoise line. three days in a row in the 50-day. It did not participate in today's deadcat rally. At no time was this thing looking like it was about to go. It had a little bit of a surge here uh after uh after the Fed met. But this thing again, three days in a row holding on to the 50-day. If the Q start cracking today's channel and the Q Sandis and Micron start losing the 50-day moving average, um it's not going to be good, right? It's not going to be good. So, uh let's definitely watch Sanders tomorrow. Uh let's definitely watch Micron tomorrow. Uh again, two names that just did not participate and they're sitting on the hot in the most aggressive aggressive area uh which is the 50-day moving average. Some names that did uh very well, right? Very well today. You had SpaceX uh coming in with a lot of call buying, right? A lot of call buying. If you look at today's pivots, uh if you look at today's pivots, uh here is SpaceX, right? Here's SpaceX. Um the whole morning you started seeing not sure why it's not loading. Uh here we go. Okay. So you had the whole morning, right? The whole morning they were coming in for the 155 weeklys. All morning 155 155. It needed 14860 for a new base. That is the 3-day range. It got back above uh the 3-day range. Traded all the way up to 153 before the market started uh coming in. Uh the move was attributed to a potential launch of their I guess Starship. Is that what you want to call it? Spaceship. Starship on the 14th uh next um I believe um soon. I forgot what day it was, but soon. Uh so they're betting into uh the launch. Uh Intel, right? Uh Intel, which we didn't have a pivot on, uh strikes a deal with uh what was it? SK, what are they called, man? All these weird names. SK Heinix uh for potential manufacturer of memory chips. They kept the bulls in the game in the semiconductor group for a little bit uh before the sell-off. But here again, here was the big number. Uh here was the big number here. Uh blah blah blah SpaceX. Here was the big number here. Uh the Q's, right? We talked about the Q's last night. Again, I try to give you guys um I try to give you guys as actionable uh actionable setups as possible without kind of giving away the farm, but the cues always give you guys very specific prices. Again, you had a nearly a $3 wash uh into an interval before uh the kick save. That 700 level, guys, 700 very important going into tomorrow and then 698 697 on the closing basis will be massive. So, watch those levels there. some other pivots today. Uh Tesla gave us a pretty good trade. Uh Tesla gave us a pretty good trade. Um I took the 62 rebound. Uh traded off the 65. They were coming into they were coming for the weekly 65s. That was a predominant betting. I kept on reiterating the webinar when you see predominant betting right in the same strike in the same time over and over and over again as as as well maintenance the stock looks whatever stock it is there's a high probability if the market continues in that direction it's going to meet uh that price and make those betters hold exactly what happened again $3 move nothing great nothing awesome but uh pretty good indeed uh so you had Sandis excuse me you had um you had SpaceX, you had the Q's, uh you had uh Tesla, uh SanDisk again held, Micron again held. Uh I like Apple didn't confirm. Uh Oracle, you know, a dollar move at the open and it just kind of spa spaced right back. But the key again going into tomorrow's session is well, can the bulls hold on, right? Can the bulls hold on? Uh can the bulls kind of sit there and defend this bottom range here? Again, the first incision was made. A little bit of short covering rally into the close. The key is what happens next. I'm also watching and it's kind of weird to say I'm also watching Tesla. I trade Tesla literally every single day. Um, but look guys, it continues to go it continues to go tighter and tighter in this area. Again, the bull cases, well, the stock has been building now for 2 weeks above the 50-day moving average. The bare cases, well, who cares if the stock is not price improving? Both sides were absolutely right. the tighter it goes eventually, I have to assume eventually it's either going to lose the 50-day moving average and get absolutely annihilated or it's going to start reclaiming back the last two weeks highs and start moving higher again. I don't know which side, right? I'm get very comfortable trading both sides. Obviously, the bigger value play is if it starts losing the 50-day moving average. Again, that's the mega mega support. But again, you know, who doesn't love a rally? Again, I'm a romantic like everybody else. Uh watch Apple also uh they had some news came out. Uh Apple in a weird way if there is a if there is a market decline tomorrow in a weird way the last like two three days that the market saw weakness. Apple for whatever reason woke up. It's building a nice little flag here. Higher uh higher lows uh higher lows and higher highs uh off the rising 5day support. Just needs to get back above uh the 911 highs and this thing could wake up. We did see some 33750s and some 340 uh weeklies come in as well. So, keep an eye on that. And PLTR, we haven't talked about PLTR in quite a while. It's not there yet, but guys, this thing is finally closing higher than the opens. Again, this is three days in a row of green candles, higher closes than the open. I'd like to see it take back the 20-day supply. If PLTR can just get back above this 20-day supply, I think this thing can wake up again. It's been kind of going sideways really really nicely uh for the last like couple of weeks ever since it had this really really good strong uh earnings run. Um I would like to see some shortterm uh expiration meaning like the 180 185 calls come in. that would be ideal because that's what really starts uh you know that's what's really starts uh spiking these uh underlying securities. Once the the options market comes in and starts really getting aggressive with short-term expiration, that's usually a sign that the stock probably will give a pop. That's exactly what happened today uh with SpaceX. That's exactly what happened today with Tesla. If you traded Tesla, you saw how much uh 365s were coming in. Again, not the biggest move in the world, only only like three bucks. But the point is the options market usually does fire up the underlining equity. That's it guys. Have a great great evening. Hope everybody's doing well. If you are going through files and files and words and words of looking for um potential detailed explanation of what happened today with the Fed, you should really go outside and get some ice cream. There's a lot better things you can be doing. Guys, have a great night everybody. God bless and with God's help, we'll see you on the field tomorrow. Take care.