Welcome back to the channel everyone today, i want to talk about the key price level to watch for confirmation of the amc moas, and i also want to talk about gary gensler and the sec finally, deciding to ban payment for order flow, so stay tuned and let's Make some money now some of the more eagerly amongst you'll notice that i'm not wearing a shirt like i usually wear in my videos today, i'm wearing one of my own designs, my to the moon, amc hoodie. So if you want to pick up a hoodie like this or maybe a t-shirt or a long sleeve or a sweatshirt or a mug or anything else like that, be sure to check out the link to my store down in the description below and also be sure To check out the other links down in the description to the private discord, so you can become part of the team and also to moomoo and free trade to get those free stocks. And now i want to dive straight in with the key information. So my conversation in jb stocks and merc trades is space call whether vive, hayder and trailer ease made me want to go and look at how important the 48 level actually is turns out.

It's responsible for six rejections, two supports and one indecision candle since we broke above it back in june. Here's a chart that shows all of that all in one. As you can see here recently, we had two instances of resistance where we came up and touched: 48. 4850 and then were repelled back downwards earlier here in june july.

Again we touched these areas of resistance and were repelled back downwards back in earlier june, we saw it act as resistance again for this candle and act as support again here for this candle as well. Back at the very very start of june, we also saw a very, very indecisive candle as well looking at that a little bit closer. We can see an almost perfect support here, an almost perfect resistance and resistance that we did eventually break through in june and that indecisive candle once more at the start of july. Again, it acted as resistance, and we really couldn't push through this area and were repelled downwards and then finally, last week we saw it come up and touch it twice and again get repelled slightly back downwards.

Now i too have also talked about that resistance area of 4850, but i don't think it's one specific resistance price. As in when we hit 48.52, that's it job done. I think it's more of a zone of resistance, i think anywhere, really between 47 68, which is obviously this kind of area of resistance here, all the way up to around 52, which is this area of resistance here, especially paying close attention to the round whole number Of 50 dollars being broken, i think this is our zone of resistance. As you can see, recently, we've had a few instances of breaking into this zone, but almost getting faked back out, and i think if we can break through this zone, all the way out the other side up past 52 and hold that break and not get faked.

Back downwards, that is going to be our key indicator, as you can see, for the entire of july and august, we've traded, either below or inside this zone of resistance. If we can break past this zone of resistance, it takes us back to our june trading area between 50 and kind of 60 70. Therefore, i think this zone of resistance between 47 48 and around 52 is our key area to watch, not one specific price of 48.50, because it's more of a zone. I think dave said this is likely the line in the sand where bears are truly drawing their lifeblood from if bulls can claim that 50 plus area, we are certainly going to be off to the races.

In my opinion, although he says it's not financial advice like seriously look at my profile photo, and i agree with what dave was saying there. I don't think it's one specific price of 48.50. I think it's a kind of a range between 47, 48 and 50 52. As well, if we can solidly break through that range, then we're going to see some very, very promising price action.

He says just to close out those wicks at the end of the chart, followed by hard rejection and closes far below are what bears are using for their confidence. If that is broken with conviction, they'll stop losing the rubbish out of their position and getting out of the way. Basically, the bears and the shorters are currently taking a lot of reliance and confidence in us, the balls bringing it up to 48.50, but then losing momentum and having it come back down hard. If 48.50 50 52 breaks with conviction, the bears and the shorters are going to be getting out of their position as much as they can.

There are obviously some hedge funds that have been shorting amc from the 72 dollar region that may have not closed out of their short position. Yet if we break 52 50 48.50 with conviction, they're likely going to close out and take whatever profit, they can but obviously remember that the majority of hedge funds have been shorting amc since four dollars or two dollars or six dollars a share and therefore they're. Very, very heavily underwater and likely can't close out their position without going bankrupt. They've said also: there's no more bearish.

Trends to go off of bears are looking to use horizontal resistance and there's no levels nearly as significant above 48. This is the line guys and basically, what dave is saying there is that there's, no more bearish trends, there's no more downward trends that we haven't yet broken, no kind of inverse head and shoulders or head and shoulders or w's or cup, and handles or anything that Could be remotely bearish that we're still tracking, if anything, we're now tracking this very bullish upward line of support to be more specific. This is more of a diagonal trend, not necessarily an upward trend or an upward support, but we've been tracking this diagonal trend here in may and now here in august. This is obviously a very bullish, diagonal trend and it should carry us up past 70 to new highs.

Now i also wanted to talk about gary gensler, the sec chairman, saying banning payment for order flow is on the table. Gary says, a controversial practice that has bought in billions of dollars to brokers and high frequency trading firms is in the crosshair of the sec and could be eliminated entirely. In an interview with barons on monday, sec chairman gary gensler said that a full ban of payment for order flow is on the table. Payment for order flow is a practice where brokers send trade orders to market makers that execute those trades in return for a portion of the profits.

Gensler said the practice has an inherent conflict of interest and market makers make a small spread on each trade. But that's not all they get. He said they get the data they get, the first look. They get to match off buyers and sellers out of that order flow.

He said, and that may not be the most efficient market for the 2020s. He didn't say whether the agency has found instances where the conflicts of interest resulted in harm to investors. Sec staff is reviewing the practice and could come out with proposals in the coming months. Now i for one think there's an abundance of information where market makers have been using and abusing payment for order flow over the years.

Just look at the fines that citadel has received over the last five or ten years, or robin hood or other market makers as well, and just look at where the instances are that they haven't had their customers best interests at heart. There's been a lot of finds recently where best execution prices have not been sought because of payment for order. Flow. Ginsler has mentioned several times that the uk, australia and canada forbid payment for order flow asked if he raises those examples, because a ban could also happen in the us.

He replied i'm raising this because it's on the table. This is very clear and it's not the only thing the sec is considering. Also on the table is how do we move more of this market to transparency? He said: transparency benefits, competition and efficiency of markets. Transparency benefits investors and he noted that payment for order flow is part of a larger issue, with market structure that gensler is trying to solve.

He notes that about half of trading is in dark pulse or is internalized by companies that keep those trades off exchanges. Even some of the trading that takes place on exchanges is opaque and the exchanges are paid through rebates that are similar to payment for order flow, opaque markets where different investors have their trade orders processed differently, have the potential for abuse. It provides an opportunity for the market maker to make more and for ultimately the investing public to get a little less when they sell or have to pay more when they buy. He said i think it also affects companies raising money.

He added because it could be a barrier to fair, orderly and efficient markets. Now i do think it is good that a ban of payment for order flow is on the table, and i would also like to see a ban of dark pools on the table in the close and not too distant future. Ideally, tomorrow would be nice. I do think it's good that gary gensler is looking at dark pools, a payment for order flow and market transparency, but it would be nice if the sec could hurry up.

Obviously, rome wasn't built in a day and it does take time, but so far all we've had is empty words and empty promises that have not yet been followed through on a lot of people have been asking me what would happen to robin hood or weeble or Other companies that do accept payment for order flow, like td ameritrade and whether they'd somehow instantly go bust or steal everyone's shares and lock everyone's accounts. Now i don't think, there's any immediate massive risk of robin hood going bankrupt overnight or weeble going bankrupt overnight either they'll likely change their revenue model and their business structure. Obviously, in the uk, australia and canada, payment for order flow is banned, but there's still plenty of stock trading apps in these countries, like in the uk, like free trade, for example, that functions absolutely perfectly and makes money. Yes, they don't accept payment for order flow, but it's because they make their revenue in other ways.

They could either charge a flat fee per trade, or maybe they could even charge per account. For example, free trade have a free subscription and also an intermediate subscription, which is like four dollars a month and a top level subscription, which is like 12 a month with those different levels. You get access to tax-free savings accounts and also get access to more stocks. On the exchanges, for example, with free trade with their free account, you get access to the london stock exchange and the new york stock exchange, but you have to pay extra if you want access to the nasdaq, for example.

So therefore, it could be that weeble charges, customers for access to different exchanges like making the new york stock exchange free, but the nasdaq cost a premium or they could just make it a flat fee for all customers that save five or ten dollars or fifteen dollars. A month whatever they might choose, this would obviously immediately resolve the short term implication of losing their payment for order flow revenue. They'd still be able to get revenue from other sources like charging a premium for the accounts or charging on a per trade basis. But i guess it wouldn't remove the longer-term implications of their business, not necessarily being as successful or as competitive, because they wouldn't be able to offer fee free, investing because, obviously, the end of the day, a business has to make money.

And if it's not receiving any revenue and it's paying lots of expenditure, that's going to be a failing business, generating substantial losses. Therefore, if you are currently still using platforms like weevil or robinhood, i don't think you're in any immediate data of having your shares stolen. But i would also encourage you to remember what happened back in january when the buy button was turned off, and i think robin hood and weeble are going to be the most easily manipulated companies because they do get so much of their money from payment for order Flow, that's obviously why i personally like using free trade and also moomoo, and i've got my links for those down in the description below i'm also a massive fan of fidelity. But unfortunately i don't have a link for fidelity, but obviously, if you do want to sign up and transfer your shares from robin hood or weeble over to fidelity or moomoo or any other platform, i would highly encourage it.

We also had charles payne tweet out saying the sec chairman says in a baron's interview that a ban of payment for order flow is on the table. He then tweeted at gary gensler and said, would love to follow up our producing booker will ring your office again. Thank you now. I would love to see a discussion between charles payne, a true and true ape that fights for us retail investors and gary ginsler, who promises also to fight for us.

Retail investors it'd be great to hear what they both had to say on dark pools and payment for order flow and also market transparency and overall market structure. Hopefully, the sec office gets back to charles on this request and takes him up for a proper interview. Guys be sure to leave a comment down below. Let me know what you think about that key support area of between 47 48 dollars and around 52, and let me know what you think about gary ginsler, potentially banning payment for order flow and, as always guys if you've enjoyed this video, be sure to check out Some others, alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted.

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