Moon gang what a day it is to be an ape if you happen to still be holding amc or gme. Congratulations: amc closed out the day at 1277, which was a gain of almost 24 and jimi closed the day out at 160 450, which was a gain of 13.6 in this video i'll, be doing a really really quick breakdown of the current short interest numbers and everything Related to that and also be doing a quick technical breakdown, so you know what price levels to pay attention to for tomorrow and also the start of next week. So let's hop right into it. Just so you know the s p.

500. We were talking about this. A bit remember: it's a basket that tracks 500 of the biggest companies in the us really really nice bounce off the 50-day moving average and right now, it's kind of hanging out at this previous support, which has turned into resistance at uh around 410. So, look for that continuation above it and getting back up above this blue trend line and then even better would be back up above this white trend line back up into this channel right now i like the bounce um if it continues.

Obviously, i'm pretty bullish, but if it gets rejected here and comes back down, i will be kind of uh in a short time period kind of be bearish on the market if it can't hold that 50-day moving average. Let's start this off with gamestop, so i've been showing you this as the daily look on gamestop. Let me close this for a quick second um right. It's super super close to getting back up into this wedge.

It was around 166 167. Tomorrow would have to be around like 170.. I think that's very, very possible gamestop! That's a nice amount of strength if it can get back up into this wedge. 100 from a technical perspective.

That's what i'm looking for for gamestop kind of it getting above 170. Closing above that and then from there, i would love to see it get above this recent high 188 and eventually test this top trend line. That's my game plan moving forward with gamestop in terms of the technicals. So today there was a net borrow of 221 000 shares on gamestop, which puts the shares on loan around 14.25 million to start today off we were at a utilization of 63.38 and right now, as things currently stand, the current estimated short interest is just below 24 Um, based on the trading volume over the past two weeks, the average trading volume the days to cover is 3.87 days, and now, let's talk a little bit about amc.

Amc here are the technicals on amc. Amazing, absolutely amazing. If you're in amc, i'm sure you are jacked up right now we had a double technical breakout today, above this wedge and then beyond that we got above the high from april 27th above 12. 22..

We closed about above it very, very, very good for us tomorrow. Today, it would have been even more awesome if we touched directly at 1454.. Instead, the high was 1420. That's what i'm looking for tomorrow, i'm looking for this main support at 12, 22.

12 25 to hold i'm looking for this breakout above 1454.. That's i mean mark my words. That's when things like you thought today was crazy. Amc above 1450 on considerable volume.

It's gon na go bonkers! That's my personal prediction. Remember i'm not a financial advisor! These are just my own opinions, i'm looking for that breakout from there. You could watch this high first at 16 from there 1650ish, and we also have this high on february 1st, which would be 17 25., so kind of after this breakout, 16, 16, 50, 17, 25 and after that, of course, we're looking at that test of the all-time High this technical situation is amazing and remember a lot of this ties just to the fact that today it was announced this actually should be on the news section of weeble. They completed their at the market, offering right here, amc cashes on on reddit trading, fresney with 428 million share sale.

Basically they are done with the offering there's no more dilution. It's over. We don't have that weighing us down anymore now as a company they're up to 1.4 billion dollars in liquidity, which puts, from a fundamental perspective, hooks amc's runway past the end of 2022.. So fundamentally, this is a strong upgrade for the company and in terms of the short term for all of us who are very, very interested in this short squeeze we're not carrying that weight around anymore.

We no longer have to worry about any of this dilution. The at the market, offering completely done that was announced today. It is very, very, very good for us. So technically it's good! Fundamentally, it's good things are on the up and up for amc.

Now, let's take a quick peek at the data. There was a net return today of 2.76 million shares. That makes a lot of sense because some of the shorts had to be feeling the pain. When you go up, you expect people to cover.

This is expected behavior. The current estimated short interest is 21.56 percent. The shares on loan, if you take this change into account, is around 150 million. So was today's short squeeze.

Absolutely not because there's still 150 million shares on loan. We only returned 2.76 million, it wasn't a short squeeze, maybe a little bit of a gamma squeeze and some people covering, but there are still many many shares on loan, which means that the stock can continue to go higher to start today off the utilization was a Hundred percent, but with this return, we're probably in the high 99s, i if i had to guess right now, we'll know when ortex updates in the morning or we're still around 100. It depends on how many people are so wet willing to lend out their shares of amc, but we're still probably in the high 90s, if not at a hundred percent, two important things i want to talk to you about now. I am willing to bet right now.

So yesterday, wednesday may 12th, the cost to borrow was 135 and the days to cover on the average trading volume per day over the past two weeks was three days or almost four days 3.99. I'm expecting both of these to go down. It makes a lot of sense, so, first of all the cost to borrow with the return that just kind of means it's easier to track down these shares for people who do want a short so when something's easier to track down same demand. But the supply goes up, the price will naturally come down and that's probably why we saw an average cost to borrow today of 51.

Now, in terms of the day to to cover based on the two-week trading average, that's going to go down because amc's volume went sky high today. Look at this. The volume today was, 295 million shares were traded and the average volume over the past 10 days has been 62.. So, if you're dividing the amount of short shares divided by some sort of average trading volume.

Well, when you're increasing the denominator, the bottom number of the fraction overall, the the value of the overall number, has to go down. I just want to bring this up, because if you see these two numbers go down, that's kind of expected behavior, because that means that shorts are kind of starting to unwind their position, and this is exactly what we want to see. In fact, we want to see more and more unwind it because that will drive the price upward overall. What we're seeing especially related to amc is very, very good for us right now.

I am beyond excited to see what happens not only tomorrow but the start of next week, and please remember all this upward momentum in amc. I also think is going to be very, very good for gme all those other meme stocks, amc, gme, nakd cost. They were all doing well today, because people their interests, their passion, got reinvigorated. So, as this moves, i think gme can move as gme moves.

I think amc will move. I think they're a net benefit to each other, but with all that being said, i would love to know your thoughts on both amc and jimmy below. Personally, i don't. I think this is the start of the end game.

I think we still have some time. Some trading and everything going on, but it feels like i've been saying this for a bit something's brewing in the background, and i think this is the kind of the start of it. I don't know how long it's going to take to play out, but i'm very very excited to see how it plays out. Also one quick reminder at the end.

So today out of excitement, i launched the moon gang merch website early. So if you want some moon gang merch feel free to check it out moongangmerch.com, i will link it below other than that. Let me know your thoughts on both amc and jimmy in a comment below. I would love love, love to know your thoughts if you enjoyed this video i'd appreciate if you could drop a like, and if you haven't already don't forget, to join up with the moon gang by hitting the subscribe button until i catch you next time from me And chair best of luck in the markets, you.