What's up boys and girls, it's your boy, trey back for another video gon na give you a quick amc update because we are near the end of the day. It's currently 2 47 p.m. On thursday february 17th of 2022. going to keep this nice simple, sweet short to the point, we're going to go over the ortex down we're going to go over the charts, we'll give you guys sort of the bee's knees in terms of what's happening with amc.

Now, broad market, what have we seen happen with the spy with amy, with uh with russia with ukraine? This all plays a factor in the way that amc traded here today well, first and foremost giving you the rundown russian news did come out. Uh, russian and ukraine. News did come out regarding sort of the conflict between the two. It appears as if there was planted news from russia claiming that ukraine had fired first shots uh in this sort of conflict.

That is happening between the two there's arguments. There's debate on whether uh is legitimate or just fake news. My personal belief is that this happens to be a plant. I think that russia planted this news in order to sway public sentiment and opinion regarding the two countries.

Why does it matter? Well, obviously, it affected the spy, the broad market, the s p 500, the top 500 large cap companies within the united states stock market is having a terrible day today, down 1.88 coming off of great pharmacy minutes news. Essentially you saw that uh hey. It looks like rate hikes are going faster than we thought looks like we're gon na taper faster. We thought the economy should be recovering.

Uh, we'll get the paint out of the way, whatever whatever whatever. Well, all that got wiped out by the potential news of the conflict between russia and ukraine escalating. Why does this matter? Well, if the spy is red, it means that iwm is red. The russell 2000, which is a small, mid cap etf, top two thousand small mid cap companies, the united states stock market amc - is comprised of that etf within that we're obviously down for the day as of right now we're down three point: four: three percent, but the Big level that i'm watching for - and i've alluded to this before in some other videos and other live streams - is this? Nineteen dollar make a holla holding over 19 bucks into the close today uh with 11 minutes left of trading, it's gon na be pretty critical.

If we hold 19 and i'm gon na draw up what i'm really hoping for here uh, you could see a bounce back and forth since it has broken sort of this uptrend that we have here in this 19 to 20 range. Until ultimately, it hopefully gets a break of 20 now i don't know if it's gon na take three four five trading days. Ideally, obviously, we would all love to see uh it break over that 20 line quicker, rather than later everybody does, if you're long, unless you're short, in which case you can go yourself, but if you're along, you really want to see this breaker by 20, and i Think this is what the best case scenario is if we hold over that 19 momentum level, which is this white trend line that you can see right here. So that's what i'm watching for that's sort of the update on amc for the day in case you want to check out the ortex data.

We'll give that to you very briefly here. The ortex data for amc is very simply 20.99. Current short interest of free float. 107 million shares total float.

Uh are shorted into this particular stock, not a whole lot of change here in that regard, so broad scope of things zooming out. Looking at this in the big picture, uh amc is still in this micro uptrend, but what you're really hoping for now that has broken this. A setting level of support is that it finds some comfort within this range of 19 to 20 dollars. Bear case scenario right: what's the worst case scenario, we all need to know these things.

It is important. Is this green box? This demand zone demand zones in case you do not know, are boxes of price action in which algorithms, computers, institutions, banks etc. You know basically designate that this is where we want to push stocks up or we want to push stocks down. It doesn't like to touch these boxes, so you can think of essentially any time it taps this green box.

It wants to bounce back up buyers, step in if you're below that box, it would be a supply zone, in which case if the box would be red, i always color them red uh. You would see the opposite if it touched that box, it would want to reject and sell off. So what you're, hoping for for a bear case scenario, if it does not hold that 19 mark, is that it continues to bounce off of this demand zone, which is between 18 and 12 cents and about 18.43, and that is your quick, stupid. Easy simple update on our girl amy for the day, let me tell you, you're, not gon na get the watch time to attack me he's sleeping on the heating pad.

I don't want to tell you, i'm not gon na wake him up he's been a terrorist. The whole day, all right, that's what i've got for you guys catch all the likes whenever i love that time, so peace.