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Tuesday’s Market And Last Weeks P&L

November 1, 2022
The Money Magicians
The Money Magicians Blog G. Allan Collins

Good Evening,

All eyes are now on the Federal Reserve’s meeting. The FED is expected to raise interest rates by 75 basis points on Wednesday at the conclusion of its two-day policy meeting. Hopes the Fed may pull back from its aggressive interest rate hike policy have lifted equities roughly 9% in recent weeks, SPY closed in the resistance zone again and when Fed Chairman Powell speaks on Wednesday and theres gonna be fire works going off and a big move one way or the other. We will find out real soon!

We had a great day in the market today booking a little bit more than 12,100 in profits for the free trading service we provide on Twitter.

Last weeks free trade on META netted  a little bit more than 10% or $26,000.

Tomorrow’s Market in a nutshell:
Spy looks like it is having a tough time getting over $390 with the Fed meeting coming up, it’s going to be interesting for sure.
SPY Resistance is at 390 and $408

The Support zone is$380-$378  if we start blowing through $378 to the downside

QQQ  isResistance: $285 $290 and then $293

Support is $272, $267, and then a Retest of $255

Cheers!

G. Allan Collins

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