G. Allan Collins
7;43 AM
Good Morning,
I hope everyone had a great weekend. The S&P 500 Tracking ETF AKA SPY was down 0.45% to close at 446.81. The bulls have support at 444.07, 442.93 and then 437.80. SPY closed below the 20-day moving average, which was critical support. There is a strong possibility that we get The Dead Cat Bounce. There are still a lot of Bulls out there that refuse to acknowledge the key reversal day that we called out before the Market closed on July 27th when we printed the dreaded Engulfing Bear Pattern on high volume. The bearish engulfing pattern is a pattern that.
Signifies a key reversal and is very accurate in fact, over the last 15 years key reversals have occurred 86% of the time when we had a sell signal on the market or a specific stock. The minimum average return on our Bearish Engulfing Pattern short sales and saved our Premium Members $27,000 on average. If members closed out their long positions and followed our Short Sale Advice, they would have gained an average of 22% just on these types of calls. Although Past Performance is not an indication of future profits, it is true that history often repeats itself.
Look for resistance at 449.55, 450.75 and 457.67. Pay attention to price action and what
The chart is saying. So expect a bounce in the morning but I would fade any rally at this point. We received a sell signal on the market, specifically the NASDAQ and High Beat Tech Stocks.
Informing investors to expect this pull back that began on July 27th Now people have DM’d me and I received over 1200 emails that Jim Crammer copied me again. I told everyone to expect.
This sell off within the next 90 days because my Proprietary Sell signal has been accurate a little over 95% of the time but it can take up to 90 days. Now Jim Crammer who can’t read a chart to save his hair is warning of a major pull back in the next 90 Days… SOUND FAMILIAR? Remember J.C. Told everyone to Buy Silicon Valley Bank before it dropped 300 Points which totally negates his NVDA call which was based on inside information from his Butt Buddy Jensen huang.
The QQQ was down 0.47% to close at 372.04 the Bulls have Support at 369.68, 367.32 and finally at $363.12. Look for resistance at 374.27, 376.26 and 380.46.
If you are a day trader, you can make few bucks on the bounce but please watch these key levels and pivot points that denote Support and Resistance as well. If you are interested in trading the
Market and making money please check out the G. Allan Bot. https://themoneymagicians.com
Cheers,
G. Allan Collins
