What's going on moon gang, i have a really quick update for you because i know we're all trying to spend some time with family friends and watch some fireworks. So let's hop right into it. Amc closed out the week at 51.96 and gamestop closed out the week at 202.83. Just so, you know here's a look at the overall market.

This is the s p 500, which is tracked by the etf spy spy. An etf is an exchange traded fund. Think of it as a basket of stocks and this particular basket is 500 of the biggest companies in the u.s. So, that's why it's thought to be a barometer for the stock market at large and it hit a new all-time high today and i mean a new all-time high as in the stock market's at a level that it's never seen before, and in fact it's been on A beautiful run ever since june 18th, so i just want to point this out because it's probably boding well for your other investments.

Let's talk about amc, we are still in this wedge. Uh. Not much has changed if you've been paying attention to any of these update videos we're still in this bullish, pendant amc shot up. We had the flagpole, and now we have lower highs higher lows, so we're just making the symmetric triangle.

Earlier today, the bear camp tried to push it down. It was a fake out breakdown and people bought it right back up and now we're sitting right around 52. So the technical analysis hasn't changed much in the bear scenario, we're seeing how the bottom of this wedge holds. We also know there's support around 48 46, 45 and major support around 40.

in the bull scenario, or should i say the ape scenario we're looking for a break out of this wedge. We know there's big resistance between 60 and 62. We could pay attention to 65. That's what we saw on june 18th and june 15th and then obviously pass out we'll be paying attention to the all-time high of 72-62 in terms of the bigger picture over the past month.

Amc is up 1.21 and from the start of the year. Until now, it is up 2 351, which is obviously massively massively incredible. So we have a bit more potential of consolidation, but please don't forget that this weekend july 4th weekend notoriously one of the most popular weekends for the box office so f9 and then the week after that, we're gon na have a lot of excitement for black widow. I'm assuming that's going to be an i'm assuming in the future, i'll be having a video that basically says: rona pandemic box office record beaten again by black widow with some gigantic number uh.

I don't think that's too far off in the future and that might prompt enough excitement to get a little bump in amc. Maybe if we see that on the follow-through - and we also kind of saw this with memorial day so on memorial day - that friday, that was may 28th it closed down, then monday was off. We came back on tuesday june 1st and my thesis was something along the lines of maybe enough. People are speaking to their family and friends that we have enough new apes in ape nation and we might see some excitement so on tuesday.

The chart really didn't do much, but look at what happened on wednesday. That was that magical 95 run so this upcoming week. I know that there's a chance for more consolidation, but between the box office, people telling their family and friends about amc. I don't know - maybe i'm just being a little bit optimistic, but i think something special could happen.

But let's see if the buying pressure finally outweighs the selling pressure enough for this breakout between 1662 and then that test of 72 and hopefully the breakout to a new level of price discovery. Today there was a net return of 1.88 million shares overall, not really the biggest thing, because there was 95 million shares on loan. So it's percentage-wise. It's not that big short interest is 18 utilization around 86, and i just want to remind you of this trend of really how the short interest has gone from 11.

All the way up to 19., we dropped to 18.2 and now we're slightly higher, but overall, the short interest kind of coasting out at the level of some of the all-time highs for amc and the shares on loan has gone from 78 million. All the way up to 95 million, just to give you a size of the magnitude of the shares that are potentially betting against the stock in terms of gamestop, this one really hasn't changed much. We still are battling it out in this region between 200 and 210. Today they try to knock gamestop down, but nothing really happened.

It recaptured it and it closed the day off at 202. 83. So we're still in this region we're looking forward to recapture 210, seeing how it fares at 225 and then hopefully a test and breakout of 241. in the past month.

Gme is down 21, but from the start of the year. Until now, it's up almost an incredible 1 000. Both amc and gme have very, very impressive returns on the year to date. Metric in terms of its number today gamestop had a return of 695 000 shares and that puts the short interest around 8.57 percent.

This isn't a huge drop, but slowly but surely over the past week, the one week time frame, we do it see it's kind of slowly going down. I'm interested to see how this next week plays out to see if more shorts will be piling in to see. If the short interest once again jumps up the shares on loan around 7.22 million and the utilization around 20, so overall, that's your very, very quick breakdown of the situation with amc and gme. If i were to wrap it up with amc, we're still in that bullish, pendant, there's still a lot of short interest, we're seeing if we get that breakout above the pendant and then at that point there might be an entire gigantic group of shorts actually covering and When they cover, don't forget that mechanically imbibes involves them buying shares back from the market which could push the stock higher and higher and higher and in terms of gamestop it's consistently holding between 2 and 210.

It's shown that's a very, very important support and we're looking for that breakout up above 210 around 225 and then 241. So overall, i'm still pretty happy with what's going on with both of those. But i would like to get your thoughts in a comment below and also just a quick reminder for all of you. It's the fourth of july.

Hey, it's a three day weekend. The market is not open. On monday july 5th, in observation of july, 4th the independence day holiday, i just want to do a quick psa for that and, i hope you're being safe and if not, i i at least hope that you're having a bit of fun. But until i catch you next time for me and chair best of luck in the markets, you.