Sudden yo shut. It oh hey oh yeah. And sudden guys. Beautiful freaking day.

Today. Today. Spy green. Amc.

Green gamestop. Green bbvy green lots of green across the market uh. It feels pretty dang good. I gotta say we've gone through uh.

The ringer here for a while uh during this bear market and now we are getting a little bit of peace and a little bit of rest. And i'd like to discuss today the levels for amc for the potential breakout scenarios and i made a video talking about this a couple days ago right uh one of the scenarios. Which we got was the potential for it to reject off of the line that i'd mentioned uh and come back down to twelve dollars. Which it did do let me show you this really quick tapped right here rejected came back down to about 12 25 or so and came back up to retest this trend line and this trend line's huge.

This is a really big trend line right the break of this trend leaves a lot of open sky. So to speak for upside. And this does appear to be a pretty clean breakout. You did get some sell off into uh the close today close at about 1448 cents.

And the after hours currently you're saying about 1408. And what i'm really watching for more than anything is a continuation of trends and i'd like to just take a few minutes today to discuss what i think it would look like for the bold case scenario in the bare case scenario. I'm not going to click bait you there is the potential. This is a fake out breakout.

But it seems unlikely uh high volume day you have a breakout on the rsi you've got a breakout from the trend line uh. Very strong move by the bulls to to gain some control in the situation here and that control leaves like i mentioned before the open sky for potentially the next holy grail trend line the holy grail resistance that i'd be watching for so let's talk about it let's go over the different things guys we're gonna talk about those two classes let's get into it let's go first with bear case scenario worst case scenario. Uh for this overall situation. Where we're sitting with the stock right.

What you've witnessed is sort of a very micro or even maybe even medium term trend for bulls start to begin starting on 11 may of. 2022 you saw a local bottom of about 997. From here. It is begun to form a pattern.

A rising support in which case. You have seen a triangle start the form that lines up with this resistance and this resistance in case. You're curious you'd like to connect these dots yourself. Uh.

Just take all of these touch points from 13 september. 20 october. 8. December.

20. December. 30. December.

23. March. And 11 31. May.

And all these different taps. Including the most recent. One 27 june. And then obviously here today.

Uh has formed a falling resistance line. A break above this would be very similar to what we witnessed during this breakout. Right you got to tap right here. Tap right here tap right here coming off of the break of that you got a surge in volume big surgeon volume well a lot of green candles rejection comes down rejects taps the bottom of the support comes back up tests and now.

Here we are right you're sitting at about 1448. Cents. So what you're watching for what i think is really important and critical is a hold and continuation of this overall trend right. Two scenarios.

Bare scenario is that this is a fake out breakout right let's just pretend that it is for right now. If this is a fake out breakout. What you're going to watch happen. Most likely is it come back down to this right here.

I think you're going to watch. It come back down and retest about 12 20 to 12 30. And if you're expecting a bounce. Most times as long as the trend continues the way that it has it has bounced back up as such right tap bounce tap bounce tap bounce tap bounce tap bounce.

And it's continued on and on and on and on and on well i think in the bare case scenario. If this is a fake out you're gonna watch that happen again it would tap this come back up to retest this overall trend and either break out or come back down and continue to wind up wind up wind up until it either breaks down or breaks up. I think it'll break down if the spy is weak overall. I think it'll break up the spy continues to have strength thankfully.

The spy is going through some form of a little bit of. A rally right. Now uh it's at about. 38899 about a 15.

Increase. Today. And i'm personally watching for the gap fill up to about 401 30 or so. And i think there's a good possibility uh and potential for that to happen right so if that continues on i think.

The spy strength is going to carry some wind in the sales for amc that brings me to the bold case scenario right bold case scenario is that this is a true breakout and if it is a true breakout. What you're going to be watching for are a couple key momentum levels along the way to what i would consider to be the holy grail resistance. The best way that i can put it is this resistance line is probably the equivalent to 1450 back here right when we broke 1450. Everything went.

Absolutely nuts 1450 was the mark to break in order to get a huge push this breakout. I think would be the exact same thing that's my speculation that's my bet. I think it's just as critical of a resistance line. I think if we broke it we'd get a huge push.

But to get there you got to break these first and that is this blue line and this blue line 1475 and 1662 these are considered to me to be momentum levels you can see actually today that we already tested out uh this momentum level earlier 1475 and it rejected and came back down to where we are right now. Which is uh. This acting as support instead of resistance. This falling trend line from tap tap tip tap tip tap.

Bing bong bong. You get back down to here. And now you get this one hour candle that's starting to test that for hopefully. What we'd hoped for right is a push back up to retest this blue trend.

You break the blue trend. You come back up to this one 1662 that'll be the next big spot that i'd be watching for i think a lot of momentum would come alongside that and push rejection here. I think obviously you come back down to this trend. Line rejects off that you come back down to what i mentioned before which is here right now if it does break this and it pushes to the upside.

You're watching for 1662. A 1662 rejection come back down to 1475 breakthrough. Push up there's a lot of open sky from there. This is where i'd be watching for very carefully if this is the case.

If this is a true breakout. There's not much else to say there is the risk of even if it does come all the way up to this trend line. There's the risk that it taps. It and it rejects and it repeats this exact movement.

Where i went to 34 bucks. And all the way back down to nine that could happen right that's a it's a possibility that we have to keep in the back of our minds. As a worst case scenario. It could test this and break through right.

I'm in the game of this or that if it breaks this line then i watch this one if it rejects off this line then i watch this one and you go back and forth and back and forth until it decides where it would like to go and right now with spy strength a little bit of a rally happening. We're not at a crazy rally because don't get me wrong. This is definitely still a a massive macro bear trend. But while we're here you know getting a little bit of strength in the spy.

You're setting yourself up for a solid opportunity right last thing that i'll say is two two different things spy continues to show strength. I think you go up. But if it starts to show a weakness. I think amc is going to go down.

I just do that's my opinion number two tmi tweeted the sound i found this to be interesting. He said. Uh there's one billion dollars about the money options right now that could expire. Worthless worst case scenario.

Which is 20 of amc's debt now obviously uh it's silly to say uh that that money could be used to pay off amc debt because it doesn't work that way right. But it is a lot of money so when you're playing options on these sort of things be careful options can expire. Worthless don't diamond hand options options aren't shares right uh options are all about timing. They're all about risk management and uh being careful with your money right.

Because you can't lose it. All if uh. If you're not careful so be careful protect yourselves right. Don't let it become a trap.

Don't let it become an options trap. It'll only become a trap. If you make it one right uh that's well that's what i've got i'm gonna keep it short that's all i got catch on the next one appreciate you guys as always much lovely taps and peace.