Moon gang wouldn't absolutely phenomenal day. I really hope that you're excited, as i am i mean i don't know if causation is correlation or any of that good jazz, but on the day that i break out a new tiger shirt that has some caribbean ducks. Look at it, amc gained 7.47 closes out the day just below 14 and as i'm filming this in the post market session, it's actually above 14 and gme out of nowhere gains a phenomenal 13 and closes out the day above a hundred and eighty dollars. What a day to be an ape, so here is what you need to know settings up not only for tomorrow, but for the remainder of the week.

I guess before i get into that just you know: the overall market had a pretty indecisive day, as you can see kind of an inside day. Today's candlestick completely encapsulated in the previous day, so kind of a neutral day, look for it to either break above friday's high at 4, 17, 50 or the low at 4 13 18. To get a better idea of. If we're not going to continue this bullish, uptrend or if we're going to take a bit of a breather, so let's start this off with amc like i said it gained 7.47, and i mean i i just love the irony in this.

So many authors. So many news stations telling us dumb money having absolutely no clue what we're doing and just so many negative news articles all the time and an excessive amount of fun. But look at this. It like it must be so painful for them to actually write this amc stock rallies towards seventh straight gain right here, a classic other one, always spreading fud about amc.

Why amc entertainment stock jumped on monday and right here? Amc stock roars amid boost from reddit meme stock, squeeze honestly mark my words i bet tomorrow we even see more about amc and now with gme's amazing day. I bet we see some about um game, stop similar to what we saw in late january early february. So here are the numbers you need to know about how things concluded right here: amc current estimated short interest of the free flow 18.43 utilization. To start today off was 99.6.

The net change today on shares on loan was a return of 7.22 million. So as of now, i would be willing to bet that, when all of ortex updates early in the morning before the market open, i bet the utilization will be dropped a bit more and the shares on loan to start today off was 147 million. So if you do that quick math we're around 140 million, the main thing i want to dive into here is even though the net change was a return of 7.22 million shares. I want to talk about the return shares and the borrowed shares individually, so the return shares today was an incredible number.

We have not seen a number of this size in quite a while 17.32 million. Now there's two things that go into this number number. One is pretty simple shares that were on loan: they never took a short position and they're just returning it that if i had to guess - and i don't have the exact percentage split on these, i would have to guess that's a smaller percentage of this overall number. The bigger number are shares that were actually shorted and they covered the position and they're returning.

So today is monday, which means because in the us we deal with the t plus two settlement that a lot of this was probably from shorts that were covering on thursday right here may 13th. They covered on this day i mean granted. It had like a 23.74 gain. A lot of shorts probably got scared, so they covered.

We have two days of settlement, so they return those today just like, so you have a better idea of how what these numbers actually mean and how to interpret them. So with this moving forward, the big question now is right now we're about to hop into the technicals of it, but more in terms of just the magnitude of these numbers. A utilization in the high high 90s shares on loan around 140 million and a short interest of 18.43. Is that good enough for, like a continuation of this movement, we see leading into a legitimate squeeze? Yes, undoubtedly, yes, i don't know how to be more clear about it.

These numbers are of the magnitude that the shorts that are still betting against amc, especially if we get that nice technical breakout around 1450, will be in serious serious pain like absolutely. These numbers are where we want them and beyond that the trend is absolutely beautiful. This amc has just been ripping higher and higher. I mean both amc and gme had a green day.

I don't know what else you could possibly ask for. This is exactly the situation. We've been talking about ever since this initial sell-off in early february, things are lining up. Absolutely perfectly today was not bearish.

Today was not neutral. I would argue that it was insanely bullish for us, like, of course, you always want repeats of days like this, where you're gaining 20 or more, but that's not really. That type of momentum cannot be sustained. What we're looking for next on amc is really just this breakout from the high on march 18th, the high mark, my words 1454, if we can break above that close above it, especially on considerable volume, that's the definition of a technical breakout and mark my words, the Short sellers, the people actively working against amc, we'll most likely be running for the hills.

I'm excited to see it play out. Today we got so close. We hit 1438, like we were within striking distance and honestly we still are in post market as i'm filming this we're at 1409, and it could happen. Folks, like we are within like a trading session.

This entire thing could be exploding. This is a very, very good setup for us. I'm truly excited to see how this plays out, because i think we're pretty close to seeing even more fireworks in terms of technicals. Obviously, i'm looking for that breakout at 14.54 past that i would target the next resistance back from january 29th and the high we have on that day is 16.

if, for whatever reason, it's rejected here, at least on the daily perspective, from today's action we know. There's nice support around 1350 and below that we have 1225.. Now, let's switch gears to gme such a good day in gamestop in terms of the numbers there was a net borrowed today of almost a quarter million shares which puts the shares on loan. Around 14.5 million utilization pushing 67 and the estimated current short interest is 22 in terms of the days to cover we're at 3.44 days and the cost of borrow's 1.6.

I want to bring up the days to cover remember this is on the average daily volume based on the two-week average. That's around 3.44 days so really for this to play out it's going to take the better portion of a trading week - and i don't think i actually spoke about this in terms of amc, because the volume has been going sky high on amc. It makes sense that the days to cover has been going lower because you're, just dividing by some average volume and now we're at 1.58 days. But still many many people are asking me: can you miss the squeeze? Can it happen in one session? One pre-market one post market.

I strongly strongly believe whether you're talking about amc or gme that it's just not possible. We are not trading enough volume for all the shorts to cover in one full day, training session. This will be a multi-day affair. Please remember that.

Don't worry about missing it most likely if you're away from the markets for a day, your social media will be blown up and you'll know to at least pay attention the following day. Please don't worry about missing the squeeze. It will be it's going to take some time um and obviously i will be live streaming. So if you ever have questions feel free to hop in of like is this a squeeze? Do i need to get out something like that? I can at least share my opinions on the whole matter.

Remember i'm not a financial advisor i'm just doing my best to share my own knowledge of the situation and give my opinions on how things could potentially play out uh in terms of the technical. Let me get rid of this now, just a little excitement from the day. First of all, beautiful beautiful action on gme. We got back up into this wedge and not only that we're testing this high from april 27th at 188 from there.

Of course, we should pay attention to that key psychological level at 200. I bet there's going to be a lot of people trying to sell there, just because they've been in this potentially bag holders and they'll be happy just to take those profits. But honestly, i think things could get even more exciting if we get a nice break out of this top trend line similar to what we were actually seeing in amc. Look at that breakout.

It exploded, i'm looking for that to happen in gme. If this were to occur tomorrow, i would target 2 30 the day after that, around 225 ish. I think that's where we could have a very nice technical breakout, so, first of all, i'm paying attention to 188 followed by 200. If it's rejected there, i will be looking for support at this bottom trend line, which would be around 170 and from there.

Gme does have proven support, at least on the daily perspective, between 130 2 to 136, roughly in that area, but overall to wrap this up. An amazing day, i don't think i could properly articulate how good today's action was for us apes. Both amc and jamie absolutely killed it, and i am beyond excited to see what not only tomorrow, but the remainder of the week brings. I would love to get your thoughts on both amc and gamestop in a comment below and really how do you see this week playing out because maybe i'm being overly optimistic, but things are looking pretty bullish, at least in my own opinion.

If you enjoyed this video i'd appreciate it if you could drop a like, if you haven't already don't forget, to join up with the moon gang by hitting that subscribe button, and until i catch you next time from me and chair best of luck in the markets, You.