What's going on moon gang welcome back to another dumb money recap for our two favorite moon stocks, amc and jamie aka kenny's nightmare in this particular video i'll, be doing a recap of what happened in the most recent week and then i'll be laying out my some Of my personal predictions for the upcoming week, just so, you know at the time that i'm filming this amc closed out the week at 4084 post market trading at 41, and that means over the past week. Amc right here has gained a very nice 18.7 on the week. On the other hand, gme closed out the week at just below 205 and in the past week it's gained 28.7. So right there, nice, indoor, golf claps both of our moon socks in the green green green now before we hop into their breakdown and their data and their technicals, and all that just so.

You know a little fyi here, not this monday, but next monday the market is closed for labor day monday september 6th. So, just so, you know don't be surprised when the market doesn't open in terms of the overall market, the s p 500, once again, ding ding ding a new all-time high. It did clear 450 and a lot of this had to do with comments from pow. Pow sees taper by the end of the year but says there's much ground to cover before rate hikes.

This was all from commentary from that whole jackson, hole symposium thing, federal reserve, chairman jerome powell indicated friday that the central bank is likely to begin tapering before the end of the year, tapering as in buying less assets, the thing that was kind of backstopping our economy, The stock market, so that's not the most bullish statement, but what the i guess - investors stock market liked in general - was this statement right here, but he said rate hikes aren't imminent as there's still much ground to cover before the economy hits full employment. So right there you're going to hear the term dovish or jerome powell and the rest of the board right here will, i guess, they're not as extremely dovish as they've been but they're still extremely dovish. So right there, when the market was reassured by these comments, we did see it push higher and higher and higher and in fact, from the start of the year until this very moment the s p 500 is up over 20 percent. Let's talk a little bit about the russell 2000.

This is another major indices that many players are watching. I like to focus on it because amc happens to be the largest stock within the russell 2000. So it's nice to see if it's providing headwinds or tailwinds that type of a deal and on this news the russell 2000 had a amazing day. I mean it gained over 2.8 percent, which was incredible in one week.

It's gained five percent from the start of the year until now, it's at 15.5 looking very, very strong hanging out at 227, which was the peak from july 12th, i'm looking for it to continue pretty close to 229. If it breaks above that, i would then be watching 233 in terms of support. The first thing i'm watching is the 224 to 225 zone and right now, in terms of the rsi, the relative strength index, this definitely does have room to run but remember the main reason i'm watching it's not like. I have any iwm positions, i'm looking for it headwinds tailwinds of what it's going to do with amc, because amc is the largest stock in this particular index, which there are many etfs that do track the russell 2000.

I just prefer the one that is iwm in terms of amc. Let me quickly bring this up and zoom out a little bit for you. Let's hide these technicals uh. I guess before we get into this, let's get into the data first.

So as of friday, they borrowed 3.57 million shares against amc for a net of 926 000 short interest sitting at 17.17. Utilization 93 shares on loan 106 million uh headline for this. The shorts have not covered there's still many many shares betting against amc and if the price action plays out in a certain way that they start to feel pressure, that's a lot of shares that need to be covered right here. I have the three month view for you in terms of the shares on loan and the estimated short interest.

The overall trend is higher higher higher and right. Now you can see where we're closing off, but i also want to show you a couple. Other trends here are the average age of shares on loan they're in this for about 52 days. So we're looking at approaching two months that the duration of shares on loan, paying this cost to borrow watching the stock, not really getting beaten down to me, that's showing a lot of apis strength within the stock.

So i think, on these weekend reviews it's kind of useful to get into these other metrics of what's going on, but really when you boil them all down. It's the same conclusion: the shorts haven't covered they're, actually getting more numerous, and what that does is raise the proverbial ceiling and how high the squeeze could go, because there's so many people being trapped. Who are the people, betting against this stock in terms of its daily chart? Looking pretty strong right here? So obviously we remember what happened in june. It shot up and consolidated, sold off and now we're starting to swing back around and the thing i really really would like to bring to your attention right now is it's been rejected between 47 48 now twice i mean i'm focusing on july 21st and then again Recently, and what i want to show on the daily is to me look how similar this is to march all the way up to may this double rejection at 14.50.

We swing back around and then it got knocked and then it ripped from right there and i'm not saying that history has to repeat like this whatsoever. But i'm saying there's a strong precedent for amc shooting up getting that double top rejection. Then it spends a couple days consolidating and from there it is off to the races. So i just want to show you this similarity, and i know this is playing out.

I guess quicker less of a time frame, but still this double top rejection knocked down a little bit. So what i am specifically looking for when the market opens back up is for amc to get above this high 41.58. And then i want it to exceed the low from august 25th, which would be 43.17. And if we can get above that, especially on some nice volume, i think that'd be pretty exciting and it's definitely a cup and handle development.

The cup. Is this big? U, where we go down, we get rejected roughly at the same level and then the handle cup and handle would be a smaller uh, it's kind of mainly distinguished by a higher low, and we get that follow through and then on. The third test, obviously psychologically, this just means that the bulls, the apes are becoming more bullish, so they're buying earlier, hence the higher low and then on the follow-through, we're hoping that the new higher demand and as they're, really trying to overpower the supply at this particular Level and on the third one, we're just they've, been soaking up supply, so we're hoping that there's enough momentum that we get that follow through break and the rip higher so once again that's daily chart. I do want to show you.

I have up the 30 minute right here on a smaller time frame, a little bit more well-defined. We do have this 30-minute trend, that's been down and then it broke that at the end on friday really halfway through, and then we held that so i'm looking for this to hold right out of the gate. I would love the break above 41.44, which was the high from friday's training, and then i want to see it battle it out in this region of consolidation, which really is also that same low from three trading days ago. So i wanted to get above this 43 for confirmation that we really are seeing that cup and handle, and then i love the follow through obviously up to 46..

I've been saying this, but to me previously in march april, may we saw that 1450 to 1450. That cup and then the explosion after i think the equivalent of the 1450, is a break and a close above 46.. So i'm still sticking to that. I think that's going to cause a lot of enthusiasm and a lot of excitement.

Of course, we're going to see some fomo buyers that they're waiting for that and they're going to pile in. We still know all the diamond handed people who have been holding all their amc and also just very quickly. I think that's where things are going to get pretty exciting in term of the september monthlies for the option chain, because right here, i'm seeing a lot of bets a lot of bets at the 45s and then that could get pretty interesting at the 50s again at The 60s and then even a little bit at the 70s and then right here at the 90s. So all these, as more of these calls go from out of the money to in the money, just think about gamma hedging.

And if you don't know what that is the gamma squeeze, it's basically just all the people selling these call premiums having to hedge their position by buying shares. So that's another form and then like. I was just referring to the fomo buying and then on top of that, obviously, we've been talking about the short interest and just the short squeeze people straight up, betting against the stock and they have to cut their loss if it gets too much out of hand. So that's what i have for amc very, very excited, it's showing some strength and it's showing a lot of similarity to what we saw right before that early june run up.

So please i know it's from mid-june. It was not doing much and then july was selling off, but it looks like that momentum is returning. We've been seeing this over the past two weeks and we want to see the follow through on that momentum. Now, let's talk about gme a little bit of a different structure.

Let me zoom out here just so you can see what's going on, but if i were to show you this a huge run up and then lower highs higher lows: that's the definition of a bullish! Pennant, once again, we run up. We get that flagpole lower highs, higher lows. It makes this triangle bullish, pendant, you're, looking for the break of this top trend line and then the rip from right there in terms of gme's, smaller time frame, you can kind of see it and the rip the lower highs, the higher lows i was saying right At the end of the day on friday, it's almost like the game stopped too early. We were trying to close above it i'm looking for that continuation and i would feel pretty confident if jimmy can get above this 212 to 215 region that we're actually getting that positive bullish, apis breakout of the bullish pendant on gme.

So once again, that's the region. I'm watching after that 225 we do have very strong support at 200.. Look uh! So all the way back on august 24th jimmy broke above 200 then support support, support support. It is very much adhering to the support level.

I really really like that. It's a key psychological level, so it's proven itself to be strong support. It's not getting beaten under that, so i'm looking for that to hold, and really i want that breakout then 225, and after that we could want 240 as the next main target, at least for me in terms of gme's numbers. They on friday, borrowed 370 000 shares against it for a net of 250, 000 short interest of 13.67 percent utilization of 35 shares on loan of 7 million.

Ever since, roughly early july, these have been trending upwards and just so you know the average duration of the shares going against jimmy. We are looking around 33 days so still over a month, but i know this is a weekend update video, but i need with the vibe i was seeing on friday. The emotion the feelings on friday was that somehow amc and jimmy people weren't as excited, but i truly don't see why and i don't think it's actually accurate. I think there's a lot of reason to be excited.

Remember amc gained over 18 percent on the week. Jimmy gained over 28 on the week so, both notably in the green, not just a little bit in the green but notably in the green. Both of them have very, very strong technical structures, amc's setting up for a beautiful multi-week cup and handle explosion and then gme setting up for an awesome, bullish pendant. So for me i am insanely bullish going into this week now.

Remember i'm not a financial advisor! I'm just doing my best to explain my own thoughts, my own opinions, my own commentary. So please do your own due diligence, but for me uh i mean some people are acting as if the wind is taken out of our sails, but i don't think so, especially because we have so much money that people were making off things like sprt bbig. I think we're going to see early this week an inflow from the winners on those trades back into amc and gme, and then we'll get that self-fulfilling prophecy on these bull structures that we're seeing in all of them. So man, man, oh man, am i excited for the upcoming week, but with that being said, i would love to get your thoughts on amc and jimmy in a comment below and until i catch you next time for me and share best of luck in the markets.

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