Market Armageddon - Market Euphoria! Rinse & Repeat! | 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 uh the accessrader.com nightly wrap-up show. Hope everybody is doing well. There was no video last night. Um I couldn't even trade yesterday. We had a massive storm knocked out my whole network. So Verizon had to come and anyway yada yada yada here we are. So let's talk about it, right? So, somebody somebody will always ask me during the day like, "Well, what how would you describe this market?" And the more I thought about it, the more I think about it, um, here's basically it. I'm trying to keep this as the PG version as I possibly can, but I'm a heathen degenerate. Sometimes I can, sometimes I can't. So, here's here's the best way I could describe this market. One moment you feel utter euphoria, right? Overjoy. You're walking on water. You could turn water into wine. All the above. 24 hours later, you're doing deep knee bends in a cucumber patch. For some people, it's a little bit of both. I'm not judging. But all jokes aside, man, we were a week ago. We were a week ago, Armageddon, right? Armageddon. This is the end of the world. This is the worst thing ever. And I kept on reiterating the point to all new traders. The market's never as bad as you think and it's never as good as you think. Guys, we were at on the queue 661 four sessions ago. Okay, we are at 723 today. And not only not only is the market is the Q's up 70 points in four sessions, we reclaimed back the 50-day moving average not by like 50 cents. We reclaimed back the the 50-day moving average by $7 and the Q's were up 24 points on the day with a 2.6% rise. This is bananas. And that's kind of my whole point in the weekend video, right? We we trade it. We take the data, man. We take the data only for the next day. Again, nobody knows, right? You're telling me somebody could have predicted this move in the market from 4 days ago? Yeah. Your your guess is as good as mine. But the guys, this is why we talk about take every single day on its face value of data. Okay? Don't worry about what's going to happen a month from now, a week from now. worry about tomorrow, right? And when you worry about tomorrow, you can control your emotions about tomorrow because again, you're expecting a channel to either confirm or it's not, right? It's very simple. It doesn't happen both. You can't be a little bit pregnant. And the most impressive part of what we're seeing right now is the violence, right? We talked about on the weekend video the violence of Meta, the violence in Microsoft and Google, uh, and Amazon, right? Violence, sheer violence. And the question was, well, can it continue? We got our answer pretty violently, right? Um, the standout today, there's two standouts, right? But the standout today was PLTR. PLTR came out with earnings. They were good earnings. The stock is up 30% for the day, folks. That's absolutely sheer insanity. Look at the volume bar. Look at the engulfing candle. This one bar engulfed three months of selling. Absolutely incredible. We'll get to the pivots in a second. Uh the second big mover of the day was a vago. We talked about it on the weekend update, right? Anything that gets back above the 50-day moving average. Really starts a potential level for the next leg up. Again, that's what happened to Avago. Again, we'll get to the pivots uh in a second. After the close, you had the two big uh two big uh earnings releases for uh the date. The first one and its first was SpaceX. Keep this in mind. The first round of uh selling potential could be locked up within next couple of days. So SpaceX reported its earnings on the surface not hard, right? They beat their you know they beat their revenue. Second quarter revenue came in 7.8. 8 billion versus 6.8 8 billion up sequentially from 4.7 billion in Q1 adjusted Ebida 3 I don't know what any of that stuff means management highlighted accelerated growth across all segments margin expansion uh capex spending was driven by AI infrastructure right stock right now is down about 10 bucks uh after the close interesting right very very interesting um SpaceX also announced a partnership with Nvidia obviously anything with Nvidia is good. Uh the second best uh second biggest one of the day today was uh AMD. And the only reason I'm saying that cuz AMD has been on such a euphoric magic carpet ride. And the question is, well, what was going to happen? The numbers were actually pretty good. Uh they beat the top line, beat the bottom line. Uh their data sent the revenue was up 107% uh yearover-year. And again, the only question was going into the earnings, was it already baked in? Was it too far? too fast because again you keep this in mind AMD had an absolute magical magical run. Stock is down about 30 points after the close. It sounds like a lot but it's not right. It's really not that much considering the run uh that it had. Um I wouldn't be surprised tomorrow uh if the stock would be up or down uh at least 20% just because of the theme right just because of the theme of violence. We got the violent moves in uh of Microsoft and uh Google and Amazon, right? And uh you know we especially PLTR today. So the earnings report reactions are not anymore, you know, 5% 6% 10%. They're 15 20 25 and as you can see on PLTR today, you had a 30% uh 30% just just crazy absolutely crazy run. It's going to be interesting going into tomorrow's session. Uh let me just see quickly what's coming out on earnings for tomorrow. Uh tomorrow we got what do we are with tomorrow? Tomorrow we got um you got Sandisk. Yeah, talk about a stock that had a big run, right? You have Sandis tomorrow. It'll be very very interesting to see uh what it does on earnings. uh stock obviously as everybody knows has come in quite a bit uh off its highs but the stock is still up like 2,000% uh in a very very short period of time. So that is obviously going to be the shining star uh after hours tomorrow that's going to um that is going to uh also affect Micron uh Western Digital STX Texas Instruments so forth and so on. Uh mouse house reports tomorrow as well. You got Disney, you got Shopify, and you got XYZ Block, formerly uh known as Square. So, absolutely insanity, right? Absolute insanity today. I traded a Vago several times. Say I traded Tesla several times. Tesla, I tell you one thing, man. Tesla is like you you could get in Tesla at a really good price, right? Really good price. 60-minut support and it'll bounce like 50 cents, a dollar, maybe a dollar and change and then you'll take some profit and then it'll it'll stop you out break even and then it goes down $3 and then it starts to accelerate again, starts going crazy again and then again slows down. So you could you you could scout these ranges but yesterday had a really really big run. It'll be interesting to see uh it'll be very very interesting to see if Tesla can can continue right can continue its upward bias. They are coming in. This is very interesting to to to see. They are coming in for tomorrow's expiration. Remember uh there is now expiration Monday, Wednesdays and Friday. We are seeing 335 and 340 calls coming in for tomorrow. So I will definitely well for me to say I'll definitely be watching Tesla. I trade Tesla every day. Uh but it'll be very interesting to see if Tesla could get back above today's channel, right? right to get above today's channel and start an expansion cycle going all the way back to the 723 highs of 342. I'm guessing that's why they're betting uh the 335 340s just because 342 is the top uh of this channel. So, let's talk about it. Uh Avago was a monster today. Again, this is what happens uh when a stock reclaims uh the 50-day moving average. Avago building above the 50-day pre-market highs needs to confirm 40382 and 40753. 40753 was the June the the June uh was it July highs or June highs? I think it was June June highs. Uh the June highs and Avago went absolutely crazy. Uh traded all the way up to 422. Uh I caught the first remount really nicely. So good job for Avago. Uh again, here was yesterday, right? Here's the day I missed. Uh Tesla broke out yesterday above this 315 317 level. Um so here is the the the here's the after uh the afterthought. Uh 324 326 needs to confirm. Tesla ran to about 329 and a half. But I'm telling you I was in this thing three times. I was getting cash flow 50 cents here, a dollar here. I mean it sounds like it's a you know it sounds like all of it adds up. It doesn't when it's like partial, you know what I mean? When it's like partial victories. So, a little bit frustrating today, but hopefully tomorrow Tesla could get uh very very aggressive. Uh ZS, we've been mentioning, we've been talking about ZS uh for a little bit of time now. Finally busted out of this range. Uh 157 uh needs to confirm here was ZS, right? Got finally above this 157 uh July highs. Traded all the way back to the highs of the day at 63 uh50s. Beautiful move on uh ZS. Uh CRW went nuts, right? CRWV went nuts. Uh 8620 traded all the way up to uh 9430s, right? Again, guys, the the NASDAQ was up a,000 points. Anything that confirm was going to expand today. So, beautiful move there. Nvidia, we didn't have a chance to trade. It just started going pre-market 1070 and 1090s. It went to like it just started going crazy premarket and then it kind of died. So, I kind of left it alone. uh and PLTR, right? What are you gonna say? 14750, folks. This is this is why it's super important to understand your levels, right? You're not just buying it at random levels. 14750 got rejected twice pre-market, right? Needs to confirm. PLTR went to 16450s today. Just an absolute uh rockar move. Um I believe that is it. Yeah. So, I believe that is it. So, what do we like for tomorrow? I'm watching Tesla for a potential expansion channel. Uh PLTR any profit taking watch uh watch it for any weakness any profit taken to potentially catch it on the 60-minut support or if it starts taking out today's channel. I do like this thing for tomorrow uh for continuation move. Same notes with Avago. Uh if there is any profit taken watching at the 60-minute support for all you guys who are in the webinar, you know what that 60-minute support is for all you guys watching it. uh just from YouTube or Twitter. You guys have no idea what I'm talking about. 60-minute support, but that's the whole point of the webinar. Um definitely watch uh Avago. They were coming for the 435 weeklys pretty aggressively today uh on this move. Uh again, same notes as PLTR. Watch this thing for a wash out into 60-minut support or above uh today's channel. That looks still very very uh good as well. I like NBIS. NBIS could be like a day or two away from busting out. You see how again it's the same chart as Vago. Look, look guys, take a take a mental screenshot of this or just take a screenshot of this. You see how many times it's got rejected off the 50-day. Once, twice, three times, today's four times. Now look at a Vago. Same thing, right? Same thing. You see this before today's move got rejected one, two, three times off the 50 and then finally reclaimed and gone. So look at NBIS. It doesn't have to necessarily confirm tomorrow, but if this thing can reclaim back the 50-day moving average, uh NBIS can uh wake up as well. So, keep an eye on that. And Apple, let's see if Apple wakes up, right? You see how Apple the last three days, you know, it got got killed on earnings and then, you know, just kind of like sitting here below the 50-day. I'm curious to see if there's a rotation out of semiconductors and that's a very very big if but uh on AMD earnings but I want to see if there is indeed rotation out of semis and they come back to like other names like right back to software or back into Apple if Apple can reclaim back the 50-day moving average I think there's a chance it wakes up as well. So again, crazy market. Again, the difference between euphoria and the difference between doing deep knee bends in the cucumber patch could sometimes be as simple as 24 hours. Guys, thank you very much uh for tuning in. If you are uh if you are interested in pivots, guys, click the link below, spend the day, spend the next 30 days with us and see that there is a difference and you can break away from the normal. Guys, God bless everybody. Have a great night and I'll see you on the field tomorrow.