What's going on moon gang, my apologies for getting this video out a little bit late today and some other things to take care of, but i still really wanted to make an amc update video, because, honestly, this stock is looking like a hot tamale right now. In all honesty, if you don't have enough time to watch this entire video, i'm going to be going to basically a couple different things explaining how good amc is looking at this exact moment in time. So with all that being said, let's hop right into it. Okay, apes, so amc managed to close the day out at 47.83, which was a beautiful gain of 8.66 over the past week.

It's up eight percent and from the start of this year, until this exact moment, it's up two thousand one hundred and seven percent, very strong opening and then pretty much a wedge, lower highs, higher lows and right. At the end of the day on a nice volume explosion, we saw a pump to a new intraday high and the fact that we're seeing all these people pouring in right before the market closes. In fact this is the 15 minute chart. So in the last 15 minutes of the day makes me very excited we're seeing a lot of bullish, apis aggression buying right at the end of the day.

So that's making me feel pretty good about tomorrow, but before we get into the more of the technicals, and that i do want to share this with you. Amc attendance surpasses 2019 levels for the first time during the pandemic. Thanks to marvel's shanghai check this out. More than 2 million people watch movies at amc, u.s based cinemas between september, 2nd and 5th, marking the highest number of admissions for labor day weekend in the company's history.

One more time for the people in the back marking the highest number of admissions for labor day weekend in the company's history we are smashing records this holiday weekend also marked the first time since the beginning of the covenant 19 pandemic that attendance during the weekend. In 2021, outpaced attendance from the same weekend of 2019, so right here, this entire rhetoric of streaming movies, destroying the theatrical experience, obviously not true. There's new highs, new records. Amc ceo adam aaron, pointed to the new marvel cinematic universe: film, chongqing, the legend of the ten rings as the main driver of foot traffic over the holiday weekend.

So right there i like to bring this up. I still don't think amc is a fundamental play, but things like this are weakening the fundamental thesis for the people who are betting against the stock, interesting information in this article. I will make sure to link it in the description of this video, but right here, if you watch this video, they actually reported that not only did amc do well, but in reference to the overall theatrical experience, imax reported that this particular weekend was their best september Weekend ever not just a labor day weekend, just for the month of september in imax's history this weekend. Clearly, people are going to the theater and i know that's imax, that's a different company, but right here i do think it's good commentary on the fact that going to the movie, the theatrical experience is clearly not a dead experience.

There is obviously some sort of driver that people like to get out of their home watch these types of movies on the big screens and now we're beating 2019 numbers, which was the previous normal, so really, obviously we're trending back upwards to new hawaii's, very, very bullish. Very very apish, i don't know pretty exciting stuff, so that was your quick fundamentals but right here, let's take a look at amc's daily chart. So right here i mean this is the same thing. Nothing has changed cup, handle we're actually as you're about to see on the smaller time frame, a different cup and handle, but right here we are knocking on the door for right here about 47 48..

Previously we knocked it the start of the cup one two, three, four five: six tests we're following through tomorrow, i'm looking for amc to definitely test break above 48. 48. 30.. I want to see a hold above that then 50 and, if knock on one, if we can get above, that 50 would be a huge psychological breakout and from there i'm watching.

52 5250 is the next major resistance, the area of supply that i'll be paying attention to. So if it's rejected in any of those regions, that's what i'm like looking forward to see. If maybe, if we get up, if there's a rejection, some consolidation and then hopefully we can form a new higher base and then move to the next level of resistance or level of supply. Just so you know, the closest support is just below 45.

Today's lows, the previous true trading days, highs and then also below that we have 42 just so you know where the major levels of support, just in case there is a dip buying opportunity, but remember cup handle bullish pattern. That's exactly what we saw from march to may cup, handle the explosion in june and now actually on a different time frame. This is just the handle uh. This is the two hour chart, but now we have a different cup and handle so we're actually seeing this exact same bullish pattern on different time frames um.

So the fact that they're all happening in concert together makes me even more bullish because when we see bullishness on all the different time frames to me - and maybe i'm right - maybe i'm wrong. Remember i'm not a financial advisor. It all adds up to one thing and i'm just i'm just looking for this amc breakout, two new highs and the fact right here, even the rsi uh we're at this level. But now previously, if you look at how high we got, we got up to the 83s.

If you're, looking at the relative strength index this baby, it amc baby, it has room to run. We're still in this range bound reason. Uh right here we have the low of basically 40 to 48, so we're here, but we're at the top of the region. I don't know how it's going to react to this.

No one does that's what we'll be paying attention to, but there is an opportunity. We are within striking distance of a pretty noteworthy breakout on amc, so fingers crossed that tomorrow is a beautiful ape-ish day in terms of the numbers. Today, there was a return of just over half a million shares on a borrowed 2.4 million. The short interest is a hair under 19 utilization, 91.4 percent shares on loan 118 million.

I don't think many people realize that we haven't been at these levels for quite a while, i mean 118 is what we're at the last time we were at. Those levels was literally early june uh, we've been just trucking upward and upward ever since june 10th, when we bottomed out at 78 million, it just is going higher and higher. Remember that just raises the proverbial ceiling of where this thing can really go upon. A very important breakout where all the shorts really start to sweat and just as a quick side note just so you know the shares on loan.

The average age is about 56 days. So what that is telling me is that they kind of all got in in this region, so as soon as the price goes up there, this is my theory is right. Now i'm expecting the average short to be in a little bit of a profit and ever since what until or august 12th here it's been going less and less and less and i think they're starting to sweat through all right. We had this profit, it's coming! Less less less and i think once we get into this region - let's just say i don't know whatever 52 to 63 right in here.

I think that's when they mainly created their positions and that's when their p l is going to go from a little positive to neutral, as we keep going upward, it's going to go negative and i think that's when they're going to start to panic, remember fear is A much bigger driver force emotional driving force than greed, so this fear of them getting blown out of the water. I don't know, i think what we're going to see is really a huge spike in volume over a couple days and we're all gon na start. Seeing like big range bars and range from low to high so kind of like this, of how it just got more and more violent and volatile um. If this comes together in this region, where they start to pull the ejectoceto button, uh, i think there's going to be some problems for them.

But that's my theory: let's see how it plays out, but i can tell you the technicals to me. The way i break them down looks pretty pretty bullish at this moment in time we went through those one. Little thing i want to add in here shout out to unusual whales, it's pretty cool to see. What's going on when they're the the positioning of the flow you can see where all the big money is flowing.

If you want to check it out, there is a link in the description, but right here the premium uh so for today, amc had a call premium of 149 million put premium of 41, so the call premium clearly outweighed the put premium but check this out. Bullish versus bearish flow 54, bullish, 45 and you might be like hang on. That's only like off is 5, but usually this is very close. I'm talking 51.49, the fact that it's kind of deviating way.

It's not like, usually the max. I see it's like a 60 40 split, so right here that five percent, like the bulls, are running the party right now. So this is important for me to show you between the premium, the call volume, the put volume and just like how it's all being dispersed, but the bottom line of checking this out and feel free to dive into yourself is that the options market for amc is Currently being dominated by the apes, which is interesting because that relates to the entire discussion, we have about gamma squeezes and as all those calls go from out of the money to in the money. And then we see the people who sold the premiums hedging their positions, which really, at its most core level, just relates to more buying uh.

As we see these numbers grow, especially with the bulls dominating these out of the money going in the money. When you put that in a gamma squeeze with a short squeeze and the fact that, of course, as this starts to rip, it's going to get more and more news media attention than we're gon na have for more fomo buyers. Honestly, no one can call out a price level, but it's as simple as truly the sky is the limit and, of course not forgetting about gamestop at all. Just so you know, gamestop after the market closes tomorrow, wednesday september, 8th gamestop will have its earnings announcement.

It's going to report how it did in the most previous fiscal quarter. That's after the market closes so today tomorrow. I think it's going to all be weird action, not really technically sound. I think people are just jockeying for a position to see what is or isn't said in the earnings call just so you know what's going on there, but in terms of its numbers, the borrower change was 117 000.

The short interest is 12.64 utilization, 35 and shares on loan 6.69 million, and let's take a quick peek at its chart, here's jimmy so we had a fake out breakout. It got right above this, it looked like it was getting out of this bullish, pennant fake out, breakout smack back down, but now it's right at support, so i'm very much looking for gamestop to hold this support. Hopefully, on tomorrow, like i said going to be weird news: it's going to be a weird day because people are just we don't know. What's going to be said in the earnings, it's honestly that simple, it's it's a crap shoot! You don't know what the play is going to be, and you really don't know how the market's going to react to it so anyway, i think tomorrow's going to be a bit of a scratch day, whether it goes up or down, doesn't really matter.

Much to me. I want to see the day after i want to see how the market reacts to it on thursday, whatever is or isn't said in the announcement, but from a technical perspective, it's sitting at support right now, right at 200, i'd like to see it bounce back about And i want to see it retake that region from 212 to 215., but right here do not sleep on jimmy. Obviously, don't sleep on amc. You never know with these things.

Uh to me they're i mean we're still up. These stocks are up up up. So i'm excited where they go, and i would the main lesson: i've learned about amc and gme over the past six months is you cannot count them out and right now it does seem like the entire ape community is starting to show a bit of strength. So with all that being said, i would love to get your thoughts on amc and jimmy in a comment below.

If you want to help me out with the algorithm, you know what to do, and until i catch you next time for me and share best of luck in the markets, you.