Today I Want to talk about how both Finra and Citadel are currently in massive legal trouble I Want to talk about how this impacts the future of Citadel the regulations around shorting and the AMC squeeze as well now. I Also want to talk about some new signs of the current market reversal, so stay tuned and let's make some money now. Dive straight in with the key information. So Metamaterials news has just tweeted saying Finra is in legal trouble.

The Financial Industry Regulatory Authority that's supposed to protect retail investors is doing the opposite. They said Finra illegally approved a company's preferred shares to trade on the OTC markets a threat. Now this also leads into my second source, which is actually a lawsuit opened against Finra and Finra's motion to dismiss. But let's go back to the First Source and explain actually how Finra is in legal troubles now.

They tweeted saying Finra currently has a subpoena that will be made public soon out of Washington DC which is my second Source Somata Materials currently has a lawsuit with Finra with requests for preliminary in Jump to relief and they also have an emergency temporary restraining order as well. But why is that? Well, Torchlight Energy, a heavily shorted company, provided a preferred share dividend to all shareholders prior to the merge with Metamaterials. Now that preferred share was not supposed to trade, but hedge funds and market makers went to Finra and got the preferred share dividend mmtlp to trade on a stock exchange. And obviously Finra then approved and allowed the shorting and allowed the trading of these preferred shared evidence.

but the company didn't authorize any such trading. Later on, Metamaterials decided to take their preferred Share dividend and spin them off into a separate private company, delisting them from the stock exchange. But Finra then halted the trading of those preferred shares prior to the company's record day, allowing those short sellers off the hook and not forcing them to buy back those shares. That's obviously something I Spoke about a few weeks ago when Finra actually halted the trading of Mmtlp and suspended trading indefinitely.

Now, as a result, Finra actually responded to that lawsuit with a motion to dismiss And in the conclusion, it says for reasons stated herein, plaintiff's complaint should be dismissed in its entirety. And that's because Finnish decision to Halt trading in Mmtop is protected by absolute immunity. They say plaintiff should not be granted leave to amend because any Amendment would be futile basically saying that you shouldn't Sue Finra because our decision is protected by absolute immunity and their decision is final. So even though Finra has done the wrong thing and illegally allowed these shares to trade, they're basically saying guys, you can't sue us because we're part of the government and therefore we're immune.

They can basically continue doing as many wrong things as they like, but because they're the self-regulatory organization and because they set the rules, they can do whatever they please. I Think it'll be interesting to see how this lawsuit progresses and what actually happens as a result if this lawsuit is dismissed or if it continues and obviously if it does continue how it impacts the future regulation of shorting and the regulations of Finra. I Don't understand that Finra are a self-regulatory organization and they set the rules, but they should be setting the correct and right and fair rules, not setting unfair rules. And on top of that, it's not just Finra, but Citadel is also in deep legal trouble as well.

Guys, if you haven't already, be sure to drop a like down below. I Want to see if we can try and get this video to 1 500 likes for the YouTube algorithm unusual Wells tweeted saying breaking news South Korea's Financial regulator has imposed a fine of 9.6 million dollars on Citadel securities saying that Citadel Disturbed the stock market with orders on the condition of immediate or cancel and by filling gaps in bid prices the Korean FSC said in a statement released on Thursday the firm had distorted stock prices with artificial factors such as orders on the condition of a media or Council So they've basically said they have proof of Citadel manipulating the market and therefore they're filing Citadel as a result. Now, they said it was actually the first time they've had to impose fines on such high frequency trading on the South Korean stock market which has a high portion of retail investors and little competition among algorithmic. Traders Now that's really interesting, that actually the largest portion of the South Korean stock market is retail investors and previously they've never had to dish out any funds at all, likely because retail investors abide by the law and don't try and manipulate markets.

I Think it will be really interesting to see if South Korea also bans the low Securities from their stock market just like China did previously. It seems that more and more countries are Banning Citadel Securities from trading in their markets as a result of Citadel's crimes. It goes to show that basically the entire world doesn't want Citadel trading there because they manipulate markets, but the US seems perfectly happy to have Citadel control the market, not just have Citadel operate within the market, but to control at least 40 percent of all order volume. Now, something I think is really interesting and could signal the start of the current market reversal is that flows into European stocks and American stocks are increasing according to the Bank of America and this is also supported by this article: I Think from CNBC it says retail Traders piled into big tech stocks in the past week leading up to highly anticipated earnings reports, betting on strong results.

Now obviously we know that Wall Street likes to manipulate the market and likes to 4 forced retail investors to lose money and therefore likely if retail investors are going mad buying stocks again, that sounds like Wall Street is just about to drop the stock market. Even further, said, E-commerce giant Amazon saw 272 million dollars of retail inflows over the last week. The greatest net buying from the cohort Apple experienced 124 million dollars while Google's parent company Alphabet raked in 64 million that total around 780 million dollars in net buying from retail investors. I Believe this could start the next leg down in the market crash, which is not only going to wipe out tons of these retail investors, but also wipe out tons of those hedge funds.

If these hedge funds are still long on the market and the S P 500 is about to tank another 10 or 20 percent, many of them could see their funds end up evaporating as Finance Lancelot tweeted he said he came across something really interesting here. He's the last time the RSI on the S P 500 was this elevated. We experience the flash crash of February 5th 2018. you can see right here the RSI for the S P 500 is massively massively over brawl moreover brought than it was in the entire of 2021 and in all previous bear Market rallies over the last year.

That basically means that retail investors and hedge funds and institutions have gone way too crazy buying stocks over the last two to three weeks. Typically when the RSI is maxed out this High even before it gets this High it always ends in a reversal. Maybe we see the S P 500 continue to run up for the next few days or so, but after that, the market crash will continue. As you can see every time the RSI has come close to this 70 point region, it's always reversed and crashed to new lows.

Obviously there's equine metrics tweeted they said: Bear Market rallies can actually last a while. right? Here is where we are in the current rally, But obviously, as you can see from many previous Bear Market rallies over the last 20 or 30 years, there's tons of of them. They vary massively in amount of percentage gains and also in days until the top of the rally. But right now we are still firmly in the middle of Bear Market Rally territory.

I Do not believe this is a new bull market as the recession hasn't even started yet. and finally I wanted to quickly touch on the Occupy SEC rally and give my thoughts on the entire event. This is something that I really sit on the fence about 50 50. I Do think it's good to raise awareness exactly what's going on on Wall Street and on effectively the New York Stock Exchange and the fact that the SEC and Finra are doing absolutely nothing to stop it.

If anything, both Finra and the SEC are actually encouraging Wall Street manipulation and not deterring it and therefore I Do think it's good to bring awareness to the subject both on social media and in person as well. Ultimately, I Think a peaceful rally is a brilliant idea. My only worry is is that sometimes peaceful rallies don't stay peaceful. especially when there's money on the line and especially when people have lost money.

I've personally had people in my DMs on Twitter over the last year or two years saying I either want to self-delete themselves or delete other people potentially employees of the SEC And obviously, while you may not feel that way, some people do. And obviously, as an example, while you specifically may not ever hurt anybody, some people out there do that kind of stuff. And obviously it only takes one person for a peaceful rally to turn not peaceful. But guys, be sure to let me know what you think down in the comments below.

And as always, guys, be sure to ding that notification Bell because that way you'll be alerted when I put a new video. Cheers!.