Weekend Update Video (PS60 Day Trader)

Here's Dan Shapiro to help you find your edge, master your process, and own your future. >> Hey guys, good morning everybody. Happy Sunday, and welcome to another edition of the accesstrader.com nightly wrap-up or weekend update show. Hope everybody is doing well. We got a three-day weekend. It is Labor Day, the official unofficial end of summer for all of us who live in the East Coast. It's over, Johnny. It's over. Uh, wait till next May. you could come back outside. Anyway, all jokes aside, guys, thank you for for tuning in, spending a few minutes uh with us. Uh all I ask is if you be so kind, click that like button, support the channel, if you haven't done so already, uh subscribe to the channel and get notified when uh our next video is dropping. Also, uh if you are interested, you've been kind of following along for uh many many years and you always wondered if the Pivot uh is a right fit for you, uh Kenyon posted a link in the comments section. Uh 47 bucks. Uh kick the tires. Spend the next 30 days with us. See if it's a match for your uh personality. I think you will like it. Anyway, let's talk about it. Right. So, good, bad, and the ugly uh for the markets. And this is kind of where we talk about we start out uh the video by talking about all this data. The weekly data means absolutely nothing because Thursday we had a 1 and a half% rally uh on the NASDAQ to reclaim back the 50-day moving average. And if you watched Wednesday's video, we talked about 7-Eleven 7-Eleven 7-Eleven. I gave you guys the area where the bulls needed to reclaim back uh supremacy of sentiment. And we had this 1 and a half% rally uh on Thursday on the anticipation of the easing, right? The easing of um the jobs number, right? The jobs number came back on Friday and it was a stronger than expected job numbers that reignites, right? Reigniting a potential rate hike and blah blah blah blah blah. And this is kind of what we talk about. Nobody cares. All these numbers and data is just way too many things to keep track of the scoreboard. They mean absolutely nothing. It's a long-term uh thesis which eventually the Fed governors turn around and flip a coin and say, "All right, we're going to raise rates. We're going to lower rates." Obviously, I'm joking tongue and cheek, but kind of the week to week uh Wednesday, Thursday, and blah blah blah Friday uh data is just way too much. And obviously, we see it. Uh the good part about it is while the bulls did reclaim back uh the 50-day moving average which was super duper bullish uh we needed that to get back above what I didn't expect and this was a very very pleasant surprise. Uh what I didn't expect was how much action we got Thursday and Friday considering people were taking off for the long uh 3-day holiday weekend and we got some monster moves. Uh, not only did the Q's reclaim back the 7-Eleven 50-day moving average, it traded uh all the way up to almost 722 pre-market uh on uh Friday session. But the the memory names, remember we were talking about the memory names, Monday, Tuesday, Wednesday, Micron, SanDisk, they're imminent. They're absolutely imminent. They're very, very close. They're very, very close. And the great part about it is, you know, sometimes you see a really, really crowded trade. And the funny thing is like on Thursday night as I was watching Micron I go, man, this thing just is going to ignite, right? It just really should ignite. And you see, you know, people start talking about on social media, you're like, well, I usually don't want to be in the crowded trade. It's usually never going to end well. But sometimes in life, the obvious is well, the obvious. And again, we'll get to the pivots in a second, but uh the Q's uh did a great job considering uh the lack of uh bodies, physical bodies there on Thursday and Friday. reclaim back the 50-day moving average. You look at the SPY, right? You look at the SPY, uh, you know, kind of holding serve. Uh, never lost the 50-day moving average in the first place. That's why, again, guys, uh, your benchmark is going to be affected by the stock that you trade, not the overall quote unquote market. Uh, the IWM, uh, IWM did a nice job this weekend, right? Did a nice job coming from the ashes of death. And guys, watch this thing. Just just like the Q's reclaim back uh the 50-day moving average at 7-Eleven, watch the, you know, for all you guys who who have uh skin in the game on the IWM, all it needs to do is reclaim back like 297 on the close and this thing could start, you know, really filling in all these channels of selling volume uh that you saw in the prior several weeks. So, watch this thing. Again, I'm not really uh want to, you know, follow the IWM, but guys, watch this 297. Any close above 297 reclaims back the 50-day uh moving average for uh the IWM. The Dow just for accounting purposes uh is just kind of reflecting the S&P. S&P and the Dow should really be uh the same tracker. They kind of co-mingle with each other on a very very definitive measure uh measuring stick. Uh but the point is it's the semis, right? It's the semis. Uh it is the memory names. You had some really really good moves uh this week and you have a lot of great setups coming back for this week because the micron and the Sanders kind of took control, took back their leadership and started going absolutely crazy. And if you look at uh if you look at uh Friday's pivots, right? Um I really really like M uh Microsoft, it didn't confirm. I still like these areas uh going into this week. Um you know, here was the big one, right? Here was the big one right here. Um I was done when I folks if all you guys who traded Micron on Friday again sometimes the obvious trade is the obvious. I I I think my mother right my mother texted me she goes yo you still buying uh you know Micron at 970. It it was the most crowded trade but the damn thing worked really really big because the point is Micron reclaimed back the 50-day moving average. You got long uh at 97. If you guys remember Micron pre-market, there was a reload seller there at 965 because of uh because of the data, right? The inflation data came out. If you guys remember pre-market um Micron was trading the mid 970s. So that wash out on the data actually did us a really really big favor because it made the natural pivot hold. So if you guys remember they cleaned up that seller, right? I think it was like at 966, 969, forgot what it was. They cleaned up that seller pre-market and they just just jammed the thing right at the open from like 970 to 984 and I'm like, "Oh my god, I missed it." Right? I mean, it was literally in the first like 30 seconds, they jammed this thing like 14 15 points and then it just came in so aggressively like 30 seconds later. I took literally the remount, right? a remount into on that 970 bounce. And for all you guys who are in Micron on that first wash out to 970, it gave us it's not even an exaggeration. I I think for all all you guys who traded Micron, you kind of know it gave us a $25 candle in about 3 minutes. I I like I my brain couldn't even process how fast it was. And I was literally done. I I mean I was literally done for the day in the first like 4 minutes of the day. I was like, "Yo, I'm just burnt out. I need to, you know, I need I need a little bit of, you know, I just need a little bit of clarity. So, Micron was absolutely awesome. And again, the bottom line is Micron reclaimed back the 50-day moving average, right? This was the whole 50-day channel. You can see here 969, 969. So, it reclaimed back 970. It closed at the high of the day, you know, within a dollar of the high of the day. Guys, keep an eye on this thing, you know, keep an eye on this thing for more uh more upside. If this thing could just get back above last Friday's highs, like 1018, man, then you got like 1036 staring at you, which are the August high. So, absolutely amazing move on Micron. Again, congratulations for all you guys uh who are swinging uh the stock looks uh higher. SanDisk, right? What is the common denominator here, guys? What is the theme? Right? Q's reclaim back the 50-day. Micron reclaim back the 50-day. Well, here's SanDisk 1588 and 1610. These are the two levels it needed to confirm exactly the same setup as the Q's. Exactly the same thing as Micron, right? Reclaim back. Here it is right here. Reclaim back 1588, which is the highest channel in a 3-day formation. Glog back above 1610 and this thing closed at 1740. Uh it looks like it has an eight. It has a date uh with 1790 which is the upper Ballinger band uh and uh 1827 which are the August highs. Amazing. Uh Friday turned out to be uh absolutely amazing with the moves. And here's the problem, right? Here is the biggest problem that is happening. Right? Look at the t-shirt. Look at the shirt. It's a symbol. I'm not going to tell you what symbol it is. No. All jokes aside, if you if you are an investor in Tesla, it is awful, right? Let's not lie to each other. It's been awful now for like several years. If you are a trader of Tesla, this is the absolute best stock ever. It's it's not even there is not even a competition for the second or third. You might have a name here or there or on a random year maybe outperforming and blah blah blah blah blah, but there is no better trading stock than Tesla. So Tesla, if you guys remember, had its um had its uh cab event, right? had its cab event. They had a big big run. Absolutely huge run and then Elon Mus decided like not to even show up to this like cyber cab thingyamajiggy and then they just sold it all off. Man, again, if you're talking about a stock that hasn't participated in a rally, this is the poster whipping boy. This is the redheaded stepchild that everything that sucks for a stock not to rally for the last several years to participate like every other tech stock has rallied. I mean, this is pretty disappointing. So, here's the theory, right? Here's the theory here. Well, you can make a case of, well, which one of these moves to the upside or to the downside is the real one. Here's the great part. You don't have to figure it out, right? You don't have to figure it out. Uh, the top of this channel here, right? The top of the channel here would reclaim back the 50-day moving average and the 65 EMA. That is the 5day moving average. If it loses last week's lows, right, last week's lows, and completely engulfs this whole buying cycle, this thing's going to get absolutely murdered. So, it's very very again, you don't need to be a rocket scientist here. Either got to reclaim back the 5day moving average, go up or reclaim, right, or just lose this whole channel here, engulf this whole candle here from August the 31st. And if it loses back the 20-day moving average, this thing is going to start a very, very uh aggressive uh sell cycle. So, Tesla again, horrible investment vehicle, the greatest thing in the world since sliced bread, since sliced bread uh on the trading side. So, as Micron and Sandis and some of these network, excuse me, some of these uh memory names are starting to wake up, there's a lot of names for potentially this week that could wake up with them. And remember, it's it's it's a copycat league. Stocks in the same group usually would copy each other. I mean, look at some of these symbols starting to wake up here, right? You got Micron, not that close yet, but not that far. You got Marvel, right? Not that close yet, but again, not that far. Actually, you know what? I actually kind of like Marvel. I didn't realize this thing closed above the 50-day moving average. Yeah, guys, let's add this thing to our uh focus for for Tuesday because Monday the market's off. Let's watch this thing. Let's keep an eye on Marvel. I didn't realize this thing closed above the 50-day. If Marvel can get back above the 50-day, excuse me, back above Friday's channel and secure this 20-day supply, this thing could open up as well. Again, I I don't know why I didn't add this thing to the watch list. Uh but I will after recording the video. That looks uh really really good as well, guys. Look at Micro Strategies, right? When this thing's a piece of crap, it's a piece of crap. But boy oh boy, this thing is getting tighter and tighter and tighter. Had this rockstar move again above the 50-day moving average, right? Kind of topped out, gassed out, you know, Bitcoin, you know, hanging around that 8081,000 area. Put in an inside day from uh Thursday's massive candle here. Let's watch this thing because this thing could get back above uh the 150day moving average. This thing could really really wake up as well. That looks start starting to look uh really really good. Guys, look at Robin Hood, right? Robin Hood had this rockar really rockstar engulfing candle uh that took out all the it just took out the July highs and now it's just kind of resting is getting tighter here. Keep an eye on this thing on top of this move here for the up andcoming week. And then you have a little bit two more names that I like that are really aggressive vehicles. So, you just have to be very careful because they don't have as much liquidity as possible. The first one is CBRS. CBRS, as you can see, is coming back off the bottom channel here, reclaim back not only the 50-day moving average, but several supply zones, and it stopped right at the linear regression line, right? Uh, set an alert. If this thing can get back above Friday's channels, this thing can wake up as well. That looks pretty good. And NBIS, right? NBIS again, massive, massive mover. When this thing goes, it goes again. Another name uh that closed above the 50-day moving average. I think it just needs to reclaim back this whole August channel. If it could just get back above this August channel, who says this thing can't start filling in this massive move and go back to uh 273. So, we we definitely have some really good opportunities uh coming up for us uh this week. It's going to be interesting when people start trickling back uh into uh the fold after the Labor Day vacation. Again, guys, if you are interested in pivots, 47 bucks, 30 days, come kick the tires, ask a lot of questions. You'll see it in real time. It is very, very cool. Guys, have a great great remainder of your weekend. God bless. And hopefully with God's help, I'll see you all on the field on Tuesday. Take care.