what is good guys it's stock Jay back with another video and in this I'm going to talk about what's going on with overall Mark in AMC stock and how it's being dictated about the markets what you should be watching for moving forward before I say anything about AMC in the markets let me just mention a couple of things I am firstly not a financial planner so make sure you take none of this as Financial advice and also if you guys can please check out the moon link which is down below and in the description if you sign up for movement with the link down below and deposit 100 bucks into the accounts you are guaranteed five free stocks with the 50 cash reward that our friends very soon so check it out before they run out with that side of the way let's get off the video so looking at spy this thing is currently respecting this head and shoulders pattern now we had an attempt to get a balance right over here you can see it right here with this inverse head and shoulder pattern but instead of continuing to push outwards all the way to these higher levels ended up coming short and we got a big rejection off of it then supports started breaking breaking and breaking it's currently selling off at the time I am speaking and as the market is dropping this is once again not the best of news for many of the people out there who are trading trying to become bulls and AMC however is trying to outperform the market by holding up and part of why AMC is holding up is because of there's some anticipation about what CERN is about to say about the settlements and AMC is trying to form a base from a technical standpoint above 4.8 so we're going to be launching could AMC hold above the 200 EMA is AMC going to try to bounce for now it's going to likely trade sideways as the market is selling off AMC is trying to hold up we will see how this moves moving forward over the weekend I'm expecting some more news involving the settlements and the courts and once that comes out I will report it to all of you but for now watch 4.9 and 4.84 on AMC with resistance around five dollars it's very tight but it is trying to outperform the market by holding up for the time being there's also this news coming out about how AMC has earnings very very soon next week that's going to be very important as next week is going to be a massive week for AMC besides that there's not really a whole lot going on with it in terms of data it's all just the same so we will see what happens next week with earnings and also what happens with zern if we get any updates involving the ape conversion but that said I want to keep this as short as possible please have a great day everyone AMC to the moon and peace out
