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We Hit Resistance At Spy $400… Great Risk Reward Set Up For The Bears

November 23, 2022
The Money Magicians
The Money Magicians Blog G. Allan Collins

Good Morning,

Lets keep this simple,
The Market is always volatile at this time of the year especially now that the Bulls Failed to
close above SPY $400 again. Volume has been light to so the least, as I mentioned it is
easy for the market makers to manipulate price movement. Look at NVDA for example. The company
released earnings recently and the numbers were pretty bad, which will lead analysts to cut
their numbers for next quarter again. Our proprietary algorithms picked up heavy Dark Pool Selling
but the market makers were able to push NVDA up over 7 points yesterday & NVDA is up a buck and three quarters right now. We shorted another 1500 shares at $162.10 in the pre market.

Look for the market to sell off today as we hit a wall at $400. However IF SPY breaks $400 they can possibly take it up to the $414-$416 range, if that occurred the bears would most likely take advantage of much higher prices and push us back below $390 and start the next leg down there is a gap to close at $382 and critical support at $374.61

**Quick Note. I will be traveling for the next week so unless there is something urgent I will not we posting own the Free Twitter feed. I will update all members in the usual fashion. I hope everyone
has a great Thanks Giving.

Cheers,

G. Allan Collins

P.S. If you are interested in becoming a member, please follow the link below.
https://themoneymagicians.com/membership-account/membership-checkout/

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