Moon gang what a beautiful day to be in ape and what an amazing way to kick off the final training week in may gamestop closed out the day, just above 180, which was a gain of 1.82 and, on the other hand, amc closed out the day at 1368, which was an incredible gain of 13.25 in this video i'll, be sharing the data, the technicals and kind of my overall opinion of what's going on with these two stocks. So, let's hop right into it. First, here we have the s p: 500, an etf that tracks 500 of the biggest companies in the us, so it's kind of a barometer for the overall stock market. It's a good indication of what's going on with kind of those classic blue chip stock.

Overall, pretty bullish, we had this fake out breakdown. Then it kind of got rejected. At 4 17., we came down, we made a new higher low and since then, we've been bouncing. I'm looking forward to get back up in this upward channel here and if it does that i'm expecting a test and a breakout of the current all-time high of 422.82.

So, overall, what's going on in the stock market, i'm pretty bullish on those like classic blue chip stocks. Now, let's talk about game. Stop so right here from a technical perspective, gamestop for quite a while was following this bottom white trendline. We had a breakdown it bounced off of 136, went up to 188, came back down to the trend line and once again we're at 188..

So why am i talking about this particular price level? So much well in the world of stock trading, important price levels tend to remain to be important price levels. Support remains support, resistance remains the resistance and they can even switch vice versa. Support becoming resistance and resistance becoming support. Let's take 180, for example, right here: roughly resistance support, support, support consolidation, resistance, resistance resistance.

So, for whatever reason many day, traders swing traders and investors are watching this 180 dollar price level, so it becomes a self-fulfilling prophecy for a lot of action happened at that price. Point so right here for quite a while, really ever since early april we haven't been above it, so the bullish momentum has not been able to overtake the bearish momentum at this price level. So if we break above it, that would obviously be very, very good for game sock stock, so we're looking for that breakout from there i'm going to be watching that psychological level at 200., a lot of traders like to just buy and sell at levels nice round Levels like that and from there then i'll be watching the top of this overall wedge in terms of the data to start today, off gamestop had a short interest of 20.57 percent shares on loan of 14.7 million and a utilization of 65.24, and with that in mind, The days to cover based on the daily average trading volume over the past two weeks, where you are at 2.79 days after today's action, there was a net borrow of a hundred thousand. So this might go up to about 14.8 million tomorrow and the estimated short interest is just below 21.

Now, let's talk about amc to start today off the estimated short interest was 14.46. The shares on loan, 128 million utilization almost a max value 99.28 and the days to cover was 0.94 days. After today there was a net return of 800 000 and honestly, at this point with amc, it is important to talk about the individual magnitude. The borrowed shares was 4 million, as in 4 million shares borrowed today, potentially betting against amc.

I know it blows my mind too, but yes, there are still many people, betting against amc and their return shares was 4.84 million, most likely. A high percentage of this particular number was shorts that covered two days ago as in thursday's trading action of last week. So when you take this into account, the current estimated short interest based on the free flow is 14.34. I do want to come back to this.

On the shares on loan, i think it'll put some minds at ease, but let's first do a technical breakdown. So right here, amc looking very, very good. We bounced off of this point. Around nine dollars went up to 1450 came back down base for really four days.

We found nice support between 12 and 12 25 and right now it does look like we're on our journey back up to 1450.. I get it um. There's there's probably a lot of questions about this 1450 mark. Why am i talking about it? Why is it important? Why is 1450 more important than 14 than 15 blah blah blah? What's the difference, why should you care about this specific price level? Let me do my best to explain so ever since really early february february, 1st, we have not really gotten above basically every time the bulls push it up.

Every time the bulls push it up, two different occasions that bullish momentum has not been enough to overtake the sellers, the bearish pressure. So why is it so important to break above it? And when i mean breakable, i mean trade, considerable volume above it and most likely have a nice closing day above that price level. That's how i would define the breakout, but in the event that that happens, why is this different? It means that ever since february, all the way up until now, something is structurally different in the fact that the bulls us apes have been able to overtake the bears at their level, as in we finally have more power than them to overtake that price level. And many many people will be watching this price level because it's a technical breakout really since the start of this year, ever since the start of february so right there, i think there's going to be many many day, traders and swing traders watching for this level, and That's where you're gon na see a lot of fomo kicking in, especially if we can close above this price point.

That's why i personally care about this level, so so much because people are gon na see it and then, by the time you get to the 15 16 17's 18 you're going to have a lot of formal buyers. That could then lead to a gamma squeeze which could lead to a short squeeze. They can pla interplay with each other. The stock goes even higher, so you have more fomo buyers.

You can see how this can so easily snowball out of control into our favor and, in my opinion, that's all gon na happen on this breakout of 1450, because it'll just really signal to so many stock market participants that hey something's going on that has not happened. All the way since february first, so i just think it's a pure structural change in the entire technical setup for amc and today, after today's action i mean we gained over 13 right now, we're up in post-market training like we are clearly on our way to testing It and i have my fingers crossed for that official official breakout - i'm excited to see how it plays out, but i think right now, personally, amc gme, both in amazing positions. I want this breakout of 1450 on amc and on gme. I want that breakout of 188.

quick point of clarification. I i was getting this question a lot about like a pseudo squeeze about it kind of running up, and they kind of make us think that it's done and then they're going to come out with, like fud news articles and all that stuff. Honestly, i bet that that is gon na happen, um one of the metrics that i'm gon na use to know if it was like the fake squeeze, the real squeeze. I'm just gon na monitor this the shares on loan, not necessarily the short interest.

Obviously there is a high correlation between the short interest and shares on loan. They kind of do go hand in hand, but they're, not the exact same so for me, if the stock shoots all the way up, but yet we're not seeing the shares on loan being returned. If we still have like a high magnitude in this number well, i would then consider that to be kind of this, like pseudo fake squeeze thing that people are now talking about. So, basically, for me, as long as this number is considerable, there's pretty much no reason for me to exit my position, but once again not a financial advisor.

These are just my thoughts on this situation. I would love to get your thoughts on both amc and gamestop. In a comment below, if you like this video, you know all that good youtube jazz drop a like leave a comment join up with the moon gang. I really just appreciate your support.

All of you, apes are absolutely amazing and for me, and share best of luck in the markets, you.