what is good ignition and stock shape back with another video and this I want to break down what's going on with AMC stock very quickly and talk about the overall Market before I say anything though let me just mention that I am not a financial planner alright so AMC has this nice balance right here it's up 2.7 looking quite decent and that's despite the fact that spy has done over 1.21 tanking today for almost the entire day and failing to get any significant balance this thing is still looking weak and as of right now this is still a decent sign for AMC as it's looking stronger now looking at the market You could argue that spy is to first light bounce after dropping as hard as it did but this is going to depend on what news comes out early on and we could see a little bag test to rebound to this 445 area but if this rejects establishes a lower high this is going to be a change in Market structure and this thing likely has more downside potentially coming so on the Market's looking weaker uh approaching fomc the market could try to rebound a little bit but if the market gets a rug pulled thanks to the FED there's always going to be room for downside now because the drop this hard and you look at the weekly candle it is still looking relatively weak right now on the weekly so it looks like there could be more downside coming uh there is this like uh more uh downside potential as developing on it and just to be clear we're gonna be looking for a little rebound and potentially more downside as the weekly is looking a little bit weaker on the stock NOW Tesla's looking a little bit stronger Tesla manage to get a relatively strong week as we're about to get a bullish cross in the PPO and Tesla was only down 0.6 so it was holding up quite nicely there's a chance Tesla may try to continue to uptrend and then outperform the markets so it's still looking quite decent relatively strong trying to outperform uh looking at Apple Apple's looking quite kind of decent we're gonna be watching and try to break 176. man just to do so uh 177 could be retested for drops but overall when you zoom out of the charts it is still looking weak because there's this potential head and shoulders and it's not looking at the full move down so I could see it dropping towards 171. so watch for it to rebound and drop even lower it's still looking relatively weak same thing could be said about the qqqn in video that he was looking weaker it's barely holding its 200 dma if it loses this we're going to start to see this thing sinking towards 368 and then for NVIDIA it's also looking kind of weak right now we could see this continuing to downtrend and approach its key support way down here towards this 435 area so it's looking weaker now uh it broke below these important EMAs and validated the end result and shoulders that was forming the Mark is looking weaker but AMC is still outperforming AMC's volume was about 24 million so decent volume nothing too insane we're starting to see some uh changes to the price pairs ratio as it's bouncing as AMC is gaining some strength on top of this we have we have about 5.7 million shares available to short AMC but despite that AMC is continuing to hold up the four hour is looking a little bit more bullish we'll be watching for a test of 8.66 and overall looks like AMC could be forming like a cup and handle like formation right there so there's likely going to be a breakout aims is looking like it's outperforming the market and I could see this thing push towards this imbalance to nine dollars very similar first you have to test 8.66 I think there's a good chance Ames is going to break it so that's what I have for this video I want to keep this one kind of short I thank you all so much for listening have a great day AMC to the Moon Ames is looking stronger than the whole Market I think 8.66 is on the table for a bigger push towards nine dollars all right so watch AMC carefully do what you have to do guys enjoy the weekend and I'll be back on Sunday thank you and peace out
