What's going on guys, ladies and gentlemen, everybody welcome back to the channel, appreciate you guys uh, we'll get ready to review amc here in just a second looks like i spelt the word: nextron, not surprising alrighty. So yesterday we had talked about amc really just given updates on the prices and where we thought it was going to go to so yesterday the recommendation was to watch amc bearish all the way down to these two red lines and then look for the stock to Bounce as the market got to kind of these two red lines and to the bottom, so we went for the bounce and then we ended up gapping down today kind of through that support, so um not surprised we're seeing a bearish move on amc this morning. We'll continue with this here in just a little bit, uh we'll, probably end up reviewing amc as we get towards the end of the stream for a couple more people, but for those that are on right now, the best way i could probably explain this again is We went bearish down to the price target, so this was the support level for yesterday. So we come down, we try to bounce, we do.

We then come back down, fade down and then gap below that level today. So this is going to be your resistance zone. Most likely, probably slightly different when the market updates at open those levels will change a little bit, but this was your support from yesterday. So now this is your resistance.

You can see we dropped below. We kind of did like a bearish pennant flag, something whatever you want to call. It swung lower this red level that we're starting to balance is from a previous wick from a long time ago that i'm kind of expecting is going to fail and we'll continue through it. Not quite sure, though, but the end of the day.

This is going to be the downside target support for me for today, so i'm expecting there's a good chance. We can see amc all the way down to the screen level and then that's where you're going to have a better bounce. So the same way we went about predicting this bounce yesterday at those prices is the same thing. We're doing for this, one doesn't mean that it's going to go.

There just means that this green level is a very low risk opportunity for a bounce trade. So if you look at the volume from yesterday, you'll notice that all of the extreme buying volume came in yesterday when we got down to that red level. If we go and look at all the extreme buying right red buying sure. But as soon as we got down to that red line, you'll see that we went from red instantly back to green with a relative volume by spike, so we kind of know that the price down to what is it one? Second, let me go over yeah, so the price down to uh it goes 34 35 ish, 36 ish is more of a low risk bounce zone.

So, ideally, the market is positioned, the same way it was yesterday and that is either down to the better support for a bounce or the bulls have to magically trend this market all the way back up and get above these red levels here to shift momentum. But i just really don't see that happening all right. So, with the way the market looks on the long term chart okay, basically looking for amc to go all the way down to this 36 mark. So that's! Basically, what we're looking for is the market to trend down to the long-term regression trend and then that's where we're going to get our next sort of bounce in the market.

Okay, oh man, yeah. We can talk about nag, we'll definitely um, we'll definitely be getting over to uh to that one, so any gg. So this one is something that blew up yesterday, um, i'm not even really certain of the news myself. I read a couple pieces of it yesterday.

Oh yeah offers on on-demand pc assembly. I remember that one custom, pc building um so nonetheless has a lot of momentum. There isn't really any sort of indicator. That's flashing the sell signal right now, but you are over the blue line, so i have to recommend it's not good to have ownership over this price, so i would assume bearish, maybe a little more up but again the best way for me to explain this is Any time we're over the blue overbought market, pretty pretty um pretty risky to have ownership when they explode over.

The blue mark, like that so um, today kind of watching this a little bit on the bear side to see if we pull back. But i don't expect we're going to crash. I could be wrong. It's a lot of crazy momentum that i don't typically trade into when things blow up this much, i'm usually not the one that goes in rushing to trade them as often these days so um.

The first thing i was watching for was to see if the market would break below this red line. That was one of them, but even still, there's not a ton of selling pressure here. So part of me feels that this neg is going to give you more of a slow, grindy kind of choppy and confusing day, as opposed to a very easy trending day. So i think it's going to be a challenging day on any gg.

Blue is three: should you buy spy calls um, so that would actually be a good thing to cover right now. So well, actually, let's go to the nasdaq. I, like it better um, so anyways the nasdaq just kind of got hit yesterday, whatever you want to associate it with whether the market's been on a good run, whether it's the news from the fed yada yada, so on so forth. So with that being said, i don't really have support on the nasdaq down until we get to 350 to 349..

Now i don't even really think we're gon na go there. That's a pretty big move down it's possible because right now the price target i just suggested is kind of in the realm of possibility today. So this is sort of a good low risk reversal point down at 350 to 349, but it just kind of seems like a stretch to get the market all the way down there. I don't quite think that's going to happen today.

Part of the reason i don't expect the market's going to go down to that price today is because we're right, on the 9 day moving average, which a lot of times is a good support in an uptrending market. So for right now the market's been respecting the nine-day moving average going up. We just got to it again. So what i'd first watch for before trying to make some hero call of the market? You know dropping another 600 points or something would be to look to see if the nasdaq supports its nine-day moving average today and or going into tomorrow, and if it can't, then we might be going for more of a corrective dip down towards the mean you can See blue line that blue jagged line, that's the nine-day moving average held pulled back, held, pulled back, held we're pulling back now.

Do we hold, or do we fail to hold this time correct down to the mean and then bounce at 350 to 349 on the nasdaq um? I believe tech might be leading a portion of the cell off to a degree when we look at the spy, the spy has significantly further to go down than the nasdaq. So i'm kind of thinking the nasdaq's kind of leading this move right now, as opposed to the spy um. But you can see for like the longest time we've been going through corrections in the spy and pulling back up. So i don't think we're quite ready to bounce just yet i think you should be watching for bearish moves still before being big time bullish on this dip, oh yeah, so sdnw yeah.

We could touch on that one. So remember. Yesterday i mentioned, i think, there's still some more or wait yesterday was this is the price action trend and if we break the price action trend, we should go down to pretty much these red lines right here. So yeah did we get the oh this morning the gap down's pretty much there yeah, so anyways su w has pretty much retraced all the way down back to the trending level that we expected it would get to once it broke this uh, this price action trend.

So now i believe we're going to be coming into a bounce pretty soon with su and w here. So now this down training moves probably pretty close to stopping and we're probably getting close to a little bounce, whether or not that bounce reverses and blows up, probably not going to happen, probably going to look something similar to like this bounce back back here or this One here and then we'll see if it picks up again so pretty close to bouncing a little bit on sunw. Also a reason scnw has been performing pretty poorly is, if you look at its counterpart, bln k2 blnk hit its mean this is going down. But if you look at where blnk's at look at, where b it went to the white line sold all the way back down to the yellow line, so bl and k is right around the corner from bouncing off trending support.

Thus, that would add, sympathy to su and w to start bouncing as well, and if we go look at the stock plug power plug power, i think, is pretty much the exact same two or very close. Oh it's a little bit worse. So plug power, not as good of an uptrend as blnk rolling over blah blah blah, but you can see this is still coming down towards that yellow line so as bl and k and plug get down towards the negative one deviation so does su and w and They're all probably going to have a little mini bounce here, close or soon around the negative. One deviation mark so anyways sunw, soon to bounce a little bit, but i don't think it's gon na be a very big big bounce.

Could you check nvidia puts on tesla um, so i wouldn't so i still think tesla actually has some downside right. So you guys will know that i was optimistic on us getting up to 725, then 715 and then i said it's a no go um. So pretty much! This is the way this went. So when uh tesla was trading back here we recommended price targets of 700 to 720.

We hit the 700 price target couldn't get to the 720, then it became 715 and then it broke kind of this consolidation and we said no longer. Is it a long it's going to go down towards these red lines. That's where you'd look for a dip buy to hold the pull back and push the market back up. You can see that support level end up failing too so now.

This is a situation where and also the market's trading bearish right now too. So that's not good. Um, so this is a situation where we don't really have support on this market for uh tesla until 6, 14 to um five five. Ninety six fourteen to five! Ninety is now the long zone for me.

So, on the way down, i don't really care to be extremely long bias unless we're tagging kind of these levels um so for right now, yeah. I do think you could be optimistically bearish on tesla, but only for a little bit more down. The bearish move started around here. I thought we were going to go to 720 and then i was gon na get bearish.

So i wanted to get bearish on tesla at 7, 20 and or 7 715. We never got there. We only got the 700 and then the bearish move started, so i didn't get into it now. I think this bearish move.

The goal of this bearish move was to get down to 614 to 589.. So if anybody betting, bearish and or shorting tesla wanted to go down to the prices of 614 to 590, then they would start to cover their short positions at 614 to 590, which inevitably would create buying pressure. Hence why i would expect this to be sort of the long position marks for right now and then on nvidia or nvidia. Everyone say it so nvidia that's been going up.

It just got the plus two deviations and the market pulled back. So it's seeing resistance again. Anything that's gapped down today is most likely going to stay bearish if the overall market qq nasdaq nq forward, slash nq. If you look at the futures is going to go lower as long as the market goes lower today.

So for me on nvidia, it would be pretty much only bullish, only long bias if the market is coming back up and kind of break well, you could be long bias on a dip back up. Two. That's fine but don't expect a big big breakout move unless the price of nvidia is actually going back up over 796.78 796.78 is currently your intermediate resistance, and let me let me just delete these drawings there's kind of a lot going on. Okay, so you have this here, so that's probably your support for right now and then the four hour is probably up and then the four hour is your resistance.

Okay. So let's go back to the daily chart. You see this daily chart dotted line nvidia and then we're gon na go to the four hour chart. You see that dotted line on nvidia there that's creating that price zone.

So we go look at it on pre-market. You will notice that this is currently the support. That's currently the resistance. You should only expect kind of a bigger breaking up move if you can get nvidia back up and over 797 798, which i don't really think is going to happen, and the only way that probably happens is if the market has a good day.

If the market's bearish, this is going to go bearish. So one of the potential entry points for this is going to be a short, as the momentum shifts down below 789.99 alrighty cool brad amc, bye, bye, bye, um, brad, absolutely my man, i don't know if you're joking or not joking or serious or not serious, but I am 100 serious when i say we will buy amc, but only when it goes to the desired price target and or the low risk buying zone, which currently exists at 36 to 35, so we will buy only after it goes down to the low risk buying Zone, wait watch this, you guys can't wait see. I did there see you right there all righty. What's next neo roku, who is we laugh out genius, learn so much here? Why aren't you going long on tlt? Why are you not going long on dld? Who is we um when i say we anybody who is following and or trading amc, and if we are trading unc um nag yeah our mentions of nag were basically, it was probably going to be slightly confusing and hard to trade for most people.

That's kind of what i came to the conclusion of dip before da rippy. When will the hedgies need to start to cover? I have absolutely no idea. Hedge funds have already covered citron research, melvin capital, some others. Here there people have already been covering shorts on amc.

It's not like they haven't. I mean how. How else do you think the price went from nine to seventy right, so it's like that was already a short squeeze you're just trying to squeeze it more and that each squeeze there and after becomes harder and harder and harder, because each squeeze thereafter you've already taken Out people right every time it squeezes you take some out every time it squeezes it takes them out. So then, there's just less people to theoretically squeeze but again there's other people online, they're, doing way more research, maybe using ortex, and hear this that trying to come up with the answers.

But i mean my answer: is it's overbought? It makes sense that it's coming down and we're expecting 35 bucks. Maybe today uh tlt, yeah i'll, take a look, so i think tlt we had recommended was a dip buy not too long. I could be wrong, let's see. No.

This is not something we recommended. As a dip buy, excuse me um so yeah, i would probably say: you're you're getting close to tlt starting to sell down, so you're, probably going to want to start flipping more to the bear side of tlt. Only in the relation to this trend, i believe that we're going to hit this trend here at 150 170 and it's going to get ready to pull back yeah. That's what i kind of think is going to happen.

Um. What impact will black widow and snake eyes have on the movies on amc, if any so um, probably not any, and the only reason i say that is because amc if it's in relation to amc amc is amc which we all knew as a movie theater. So when they release a movie, that's kind of to be expected, considering that is really their sole purpose as a company is to provide movies for you to watch in the movie theater. So when one of those movies comes out, that's generally their their typical business model.

So really nothing special there and then considering that there are just more people watching things from home than there are in the movie theaters still down in my opinion, but they are doing some cool things like maybe doing live sports um if they can do something with Live sports gaming: they can definitely turn their business model around. I don't. I don't really see it being too challenging of a road ahead. Well, i mean it's definitely challenging but yeah i mean live sports um online gaming.

Somehow i mean there's definitely things that they can do, but if it's, if their sole business model, these this day going forward, is in relation to movies and coming out, then i just don't see it succeeding in the long run with the way technology is advancing, i Mean it's just not going to happen so as long as they can change the business model around a little bit to uh create new streams of revenue, then i could see them doing pretty well in the future. Uh, do i see a bounce and wish at all? Not true at all, so not true, laugh out loud people are tired of being home. They like to be out it's the experience. 100 percent amc going out to the movies.

It is about the experience 100, true, absolutely, which probably makes sense as to why and going based off of that logic, which there's nothing wrong about it. You're completely right, but going off of that logic is not what uh? It's not what got amc from 34. A share down to 191.. If people like to go out, it was about the experience always and forever, and there's nothing really changing in the market about the way amc is working.

Then i guess you could say it makes sense that they go from 34 down to 190. interesting movie. Theaters aren't going anywhere, i mean yeah. That could be true.

I should probably go stop at the one down my street that closed down went bankrupt. That'd be a good idea, all right but anyways on to something more important, which is um uh. What was it uh wish? Sorry. So wish is uh the stock that recently became popular.

Maybe it was wall street bets. I don't really know, but our recommended resistance kind of for the stock on wish was that yellow box right, that's where we had mentioned this. Is the resistance you're only going to break out more if you can go through it? So, for the time being, you would be bearish when you're at the yellow box, and you can see it's falling apart since we've come all the way down. We shorted a couple days when it was going down and then you don't even really have a good support system for right now, there's one down at 8 34.

and i mean for right now. I just have to say that the the price of wish is gon na go down to eight bucks, because i don't really see any sort of support that the market's gon na try to hold um until here. So most people would look and go. Oh well.

What about the support right here? It's like that was support right, i mean i guess it could be, but when this was pulling back, this move on wish pulled back. It was pulling back to a trend line to bounce right. Wish is now pulling down down down down down down it's not targeting the previous price action. Bottom, it's targeting a trend line.

So that's, i would say seven to eight times out of ten, where a price of a stock is going to is a previous trend line or sorry is a trend line, not a previous price action. Bottom. Okay, 7 to 7 out of 10 times price is going to a trend not to a previous price bottom. So since the trend exists below the price bottom, this would be a situation where we would look for support or what you think is support based off of previous price, to actually break uh.

No, i i don't see amc as a short squeeze plays today yeah. So, let's pop back on over to amc really quickly what time is it 8 55.? So we're going to run through amc, we're going to try to be as detailed as we can possibly be, but in reality there's not really all that much to say the only thing that we really have to say is this green box. Well, it's not green right. Now, but it will be in a second uh: wait: yep the rectangle that guy bing bang boom.

So this one here, this green box is ideally where we're looking to be long bias, amc, which then means we're pretty much bearish until amc gets to there now, there's two ways that this could play out: there's only two ways that it ever plays out: it's either The price goes to, or the trend line comes back up to, so it's either price, just kind of magically hangs out and no one keeps selling and not enough people keep buying to the point where it just kind of goes like ho-hum, diddly dumb. For the couple days and this trend line will catch up to the price and then we bounce or the other option is the market does keep selling down and instead of the trend line coming up to meet price, the price goes down to meet trend and then We bounce so we're really not looking to put any more money on the table, long bias for amc today until we're down to this price. Here yesterday we didn't do anything on the long side until amc got to this bottom. We traded along a little bit same kind of thing today, only looking for amc to come down to this 36 price and then looking for a bounce in that area um.

This would be like way down the road. I don't think we have to go at this. Let me just double check one more thing here. I want to double check that and there's one more thing that we could mention, which is down the road and that's.

If amc does not bounce this green box, that's an if, which is pretty big. If, if it doesn't, then you would expect the market goes down to 28. all right. If it breaks the green box, then you expect targets of 28, but that could also be slightly different too.

It's probably a little. No it's! It would be 28., okay, cool. So again, right now we're really only targeting down at 35 36 area. That 38 is kind of like the.

What, if, but that's a big f, okay and the last thing i'll touch on is, let's see your thoughts on eh and spc. So excuse me eh, so eh. I feel like we looked at this a little bit ago, um but anyways, our. I think we looked at eh not too long ago and basically, all these red lines on our chart.

We identified as being the resistance so eh. Let me change it to the daily chart too yeah, so this is really. This is where the market, what the market's been doing for a lot of stocks recently, as we've, been going up to the regression levels and then breaking back away from them on many plays. It's just kind of seeming to be the thing right now in the market, so anyways you will see.

We ran up to regression level, rejected swinging back down. You'll notice that you kind of broke support here, that's a little mini support. Ideally, you wanted to hold the price of 36 to keep moving up in the immediate you didn't. So your next target down was this level.

So look you broke 36. So then you swung down where to the next dotted line, which is down at 30, 79. So you're kind of on a dip by level today, but again i don't think it's going to hold up. I think the markets still have a good chance of going lower today or the next couple days.

So we're going to see continuation on the downside for eh and it's kind of a it would be kind of a lot to call this out right now. But i'm going to say we even have the chance of seeing this down to 25 29 and it might not actually be 25 29 because after a couple days, this level could increase up to like 27. So it's it's better of me saying we could be seeing or going for the negative one deviation, bounce or negative. One deviation move, which then means the long bias move that you're looking for would exist when we bounce off the yellow trend line, which is at negative.

One deviations and then we'll pop over to spce really quickly uh. So when spce was trading up here we mentioned you should be bearish and or not buying the stock. It's too high risk to be getting long when it was up here past couple days. The market is bearish right now, so i think you still kind of have to stay bearish on spce uh spce has a half deviation price here at 4057..

So market goes bearish today i would expect you're going to see spce continuing down and the first target being 40 60.. So that would be the first target down. For me today, on spc is down to 40 60.. Let me check the daily chart too.

Oh, the daily charts got a level there. I didn't even know so we probably held support there actually or maybe not. Oh that's right. The kind of yeah so yeah.

The current like support level right now on spce is 4130 and 40 60. But again i think the market's going to try to swing down into those levels and potentially break them today and you have the regression mean all the way down to like 35 20.. So that being said, you still have a pretty big decrease back down to the statistical mean, which is really just the halfway point of all this movement, which is down at 35, 50.. Oh boy, um, no we'll not be back on streaming later today got a busy schedule.

I got to stop by one of my rental properties a day and do a couple things uh and then yeah so won't be online today, but might be having a video out later today. We'll just see how the editing goes, but um anyways. I will catch everybody back uh, bright and early tomorrow morning. With that being said, appreciate you guys tuning in make sure to hit the thumbs up button before you go.

It does help our streams and our channel become slightly more popular, so we'd hope for that appreciate. You guys and i'll see you guys on the next.