Can’t count the apes out. As long as the FOMC flow remains robust, the apes will continue to swing. When or even if interest rates come back, that might change but for now, people are taking crazy risk because the Fed wants them to do so. Don’t blame the apes.
AMC – Ascending Triangle
AMC looks like its ready for a legit breakout, setting up with an ascending triangle formation, ready to burst out to the upside.
Gamestop (GME) – don’t call it a comeback
Gamestop isn’t nearly as bullish but yesterday price put in a big move and there may be more left yet. I talked about the gap fill play which was amazing, and now there’s even a bit of resistance at the end of that gap that continues to hold. The big level here is 200 and if GME can mount above that, then there could be some more pressure to put on the shorts.