Weekly 'promises' MADE by chat — Jackie Le' Tits — Video Wiki
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0:25[music] The stench of despair hung heavy in the air. I stumbled, falling [music] blindly down a descending stairs, picked myself up, and there, raising my hair, was a monster [music] beyond compare. It was Kennedy and his evil lair. [music] A billionaire impaired, holding [music] on to prayers, summoning phantom shares to pedal to his ghouls. [music] Elsewhere, I sought to set him square. I leapt up and screamed, [music] "Bears, beware. You're in for a scare." [music] >> These clothes are just a fine. [music] One of ain't no way you can make [music] this spooky. >> [music] >> shorted if you dare cuz our se in the chair [music] and I swear to make everyone aware of this chance so rare [music] and enter this relentless nightmare with riches beyond compare if [music] we can gobble up the shares [music] spooky You know what we all should do? We should [music] panic sell our positions because we're probably fine. [music] He shrked a slur and ran in a blur. But from [music] his waning power, this I could infer, the losses incurred, would empty his coffers haunting him, even through [music] days to be mure. And as sure as the cat does purr, someday his coffin will be closed and not simply [music] covered. for the scare piece [music] fun [music] you to the grave. This is a ghost Jackie. So if [music] you're just tuning in, you're tuned in to Ghost Jackie. It's Ghost Jackie. [music] It's very spooky. It's very spooky. >> [music] >> Can I get a more power BABY? >> A MORE POWER BABY. >> TESTIFY. >> A MORE POWER BABY. >> A MORE [screaming] POWER BABY. >> A MORE POWER BABY. I SAID A MORE POWER BABY. BABY. I said we need that power in the charts, children. [music] Volume in the veins. by pressure in the blood. Don't you DARE LET [music] THIS STOCK sit still. Can I get a witness on the bid? CAN I GET A HALLELUJAH ON THE ASS? We ain't HERE TO PRAY. QUIET. WE'RE HERE TO MOVE THIS STOCK WE CALL JIMMYIM JIMMY Power [music] up the power. Power [music] more power. [music] More power. More power. More power. More power. More power. TG in the pew with the bones in the hands. I'm a grip tighter than the deolition plate. [music] Ed's in the back
4:58row looking nervous. We just turned the cathedral into a ra power. He in the tape. [music] Don't let it drip. Don't let it sleep. Every candle we light is another flow. Every shell we lock is another door that can't close. >> Testify on the table. TESTIFY ON THE >> WE NEED THAT MORE POWER, [music] BABY. >> We keep this rocket IN THE AIR. MORE POWER. >> MORE POWER. >> KEEP the moving. Keep the spirit moving. More [music] power. >> More power. More power. church in the club in the stock still booming. Can I get a [music] more power? >> Can I get a more power? [music] Don't get no more power. No more power. I said no more power [music] been to the promised land. We've been holding through the fire and the flood. They said it was over. We said amen anyway. Now the orans [music] distorting the bases in the blood. Squeeze the dark. Squeeze the doubt. Squeeze every last share they thought they had. This ain't just a ticket. It's a testimony. Game [music] stop gospel with a knife of testimony. >> They want us quiet. >> They want us still. >> But [music] the congregation came >> to move. So we turn the lights down. Turn the volume up. And we don't [music] stop till the ch looks like our stable. More power. More power. Keep the tickle moving. Keep the spirit moving. MORE POWER. MY POWER. My power. Only my power, baby. [music] Only my power. Testify. [music] Power. [music] Power. And don't you let it [music] down. [screaming] Testify. Good evening everyone and welcome to the Sunday show show. Tonight [clears throat] we're going to quickly touch on spy. We're going to touch on what just a couple of things. Chewy AMC maybe a little unity. All right. and then we'll get to the big one. And I'm going to be really quick about this. So everybody that's watching, you better pay attention or you're going to miss it. All right. So first, SPY futures, the 4hour 50, the 4hour 200, the macro 236. If you hold this, it's going to bounce like a son of a [ __ ] If it fails, it's going to complete this bat. No questions, ifs, ands, or buts about it. It will complete that bat. So if SPY early this week holds
8:18on, SPY futures by the way holds on to approximately 7760. Okay. Now for SPY roughly that equates to where the daily 50 is at about 765. If you see spy lose that, it's probably going to complete the same bullish bat at approximately where the 4hour 200 period moving average is. Okay, so that's what you're looking for this week. Hold 765, stock market good. Lose 765, stock market going lower. Easy peasy. Okay, that's how you make life lemon squeezy. Okay, so that's spy this week. Now, I'm sure what some of you are wondering, Jackie, how do you lean? Well, I think it's probably going to just keep doing what we've kind of been talking about where we're going to see a lot of this. So, I kind of think that we are going to push lower, hit this area support, and then push back up. That's kind of my thoughts. But, uh, you know, I I'm not taking any short trades, and I don't want you guys to think that I'm trying to make a specific call out or anything like that. I'm merely telling you that I think the price action that we're going to continue to see on the market is going to continue to be kind of shitty and lazy and weak and whatever. So again, the the theory or what we've been kind of preaching here is just to continue to be very selective about the stocks that you're trading. So that's where it's going to circle into some of these other conversations against for example such as Unity. Unity still has this extended VTOP. It still looks dangerous for a break down and it's currently sitting here on the daily 50 period moving average. That is the line in the sand. You have a golden cross. It's being tested. If it holds, it's probably going to go up and make a higher high. If it fails, it's going to play out the extended VTOP and come all the way down to the daily 200 period moving average. That could be a big swing. There's lots of money that have been flowing into the options chain on this thing and we discussed doing a shortsided spread. That's what my thoughts are, plain and simple. I lean on the shorter side of this and I do think that it's probably going to have
10:46a retracement backwards. We'll obviously have to wait and see what happens. But when we look at uh from the daily perspective here, we have a daily MACD very close to crossing through center. we have the RSI slipping below it, but basically just resting right on it. So, it's not that big of a deal. And if we head over to the weekly, we have a weekly that is currently breaking out of the bull zone. So, we have a couple of little signs or symptoms that are suggesting that unity could ultimately drive a little bit lower, which is why I think it will. But it's still good to take a spread and have the long side of it in case [ __ ] happens. Okay, AMC, guys. AMC daily Ballinger bands. Look, daily Ballinger bands bulging. You're in the upper half while the center line is sloping up and the 50 is sloping up. That's really bullish. I think AMC might finally see its break and perhaps we could see this get towards uh 350. It has to break and close above three. If it doesn't do that, AMC is not getting its breakout. But it's hard to argue with the current level of bullishness when you have the Ballinger bands bulging and you're hitting the top side right now as [snorts] we see the stock kind of consolidating on less and less and less and less volume. And then we look for the big pop and we look for price action to have its breakout. Okay, so that's what we're looking at here with regards to AMC. AMC looks uh pretty good to me, folks. It looks pretty good. But if it rejects $3 again, I mean, it's probably very safe to assume it will come back and back test 250. Okay, now last one before I get to GME. I'm firing through these really quickly. Okay, guys. Chewy, we haven't spoken about this and there's been a reason that we haven't spoken about this. There's nothing to say until it starts to trend in the direction that we're looking for it. Well, now we have Chewy stock with uh two out of the last three weeks being absolutely horrendous, breaking down and looking like, oh my god, this is it. [cough] Okay, but look, it's it made a lower high and the weekly RSI rejected
13:09center and that's obviously sucky and shitty, but listen, look at this. Okay, the stock closed right where it did over here. You could argue that there's a potential touch of bullish divergence between this low and this low because it is within that 14 bar uh period that we have right with the RSI. So, my suggestion to folks on Chewy is to wait for this big gap fill that we had been waiting for from back over here all the way down to the 886 at 1680. And then it's the exact same trade that we just [ __ ] talked about. That's support. [snorts] That's your risk. That's your your potential. That's your breakdown. That's where you are looking for. If it goes lower, well, I probably don't want it. But you have a very clear potential for this to make the full rounding top, specifically on the monthly right all the way down to the double bottom. And if it makes that double bottom right back down here, this could turn into another really big trade with Chewy. So what I am doing is I am looking for Chewy to first come back to 1680 and fill the gap and then we can start talking about it. Looking for support on this low very similar to what it did with Unity back over here on the daily. Okay, so Chewy has the setup forming and it is now worth paying attention to and watching closely once it gets below $17. Once it gets there, this could set up a really nice trade in the future. So, it's not necessarily about right now. It's going to be about the future on that one. Okay. Then we had uh Bill Jeet with the $3 bomb. Thank you, Bill Jeet. Appreciate that. Good to see you. Good to see all of you guys here in the chat box. And uh okay, so we've fired through the majority of uh anything and everything that I kind of wanted to talk about there initially. Um yeah, I think yeah, I think that's probably good. So uh if you guys are ready for a little uh GME chat, uh I'm going to need the chat box to to give me some GME in the chat box. It's feeling a little quiet out there, folks. It's feeling a little quiet. So, I'm going
15:41to need some GMES in the chat box to cheer me up. That's what I'm going to need. I'm going to need some jimmies in the chat. I'm also going to need some of this [ __ ] water for survival purposes. [snorts] All right. So, what you've all come here, what you've all been waiting for. It's the GameStop conversation. Well, first [sighs] I'm going to make this easy. All right. Are you all watching? Are you all watching? Are you watching? I don't know if Are you ready? Wait for it. Okay. Did you see it? Okay. Now, watch. Watch. Okay. Watch. The first thing I want to do, all right, the first thing that I want to do, I want to go back in price action. Okay? And when I go back in price action, one of the most important things that I want to focus on is all of the price action surrounding GameStop since the first initial bond offering, right? The first initial note. From that moment forward, the stock has traded in a very bizarre and weird way. It's okay. I'm not judging it. I I I don't really care. But what I want you to focus on is every day of price action that has happened since that gap down following that note offering. Now, more specifically, what I want you to do is go over to your Trading View tools and forecasting. Go to anchored volume profile right here. Okay. Now once you click on anchored volume profile, I want you to press it on the very candle on the daily following the gap down. All right? So on that gap down day, I want you to put a fixed anchored volume profile. Boom. Now, as I zoom out a little bit and you're able to see this, I'm sure that a few of you are beginning to clue in as to what I'm trying to highlight here. something becomes immediately obvious since that note offering, the first one, then the second one, then the warrants, then the eBay price action, and then the bond equity window swap, and then the swap being killed. Since all of that price action has transpired, we have now hit the point of control, the area where the most amount of liquidity lies since those original note offerings. Now, the reason that that's important is because
18:44there's been a large amount of speculation that some of them may be closing, some of them may be exiting. Perhaps we are seeing the dawn of a new day. And now we can see that GME the stock here has not only broken the point of control last week, but then at the end of it came back and it closed the week resting on that point of control. Now why is that significant? Because everything that's about to unfold from this point forward is going to tell us everything about the next few months of price action. That point of control resting right there at about 22.95. Okay, that macro point of control resting right there. If we turn that into support, that is now buyers willing to support the price more. so than the sellers. That would be a very unique shift in GameStop's personality and the way that this thing has traded over the last couple of years. Now, if it were to dip below it and push back, okay, well then guess what? We're right back to [ __ ] stage one and right back to where we've been. However, I would make some type of argument at this stage. The point of control is it the gap that was made from Ryan Cohen's second purchase. And now we have back tested that gap. We've wicked into that gap and we have at least thus far managed to hold on top of that gap. If we can hold on to this range where Ryan Cohen's second purchase was, we should be able to see a really secondary uh a big secondary move on GME that could break us up towards those $30 areas that we're kind of targeting. But at this stage, [clears throat] the technical analysis that I'm going to provide and what I'm going to suggest to people is going to continue to really be more of the same. And uh I want to just kind of get this point across, right? There have been a lot of shitty GME grifters and a lot of shitty GME people that have come and gone through the years and through the weeks and through the months and the time that I have been around. One thing remains consistent though. One thing remains consistent. A lot of them don't really know diddly [ __ ] squat.
21:20That's why they don't take risk at lows. That's why they don't sell tops. It's because they don't really do or know jack [ __ ] [ __ ] I do. And one of the things that I know is that I bought it down here and it's trading up here. And the other thing that I know quite well is myself as a trader, me, I'm not very riskaverse. I I don't like being very risky. I don't like to take big risks. I don't like to wager the entirety of my portfolio on trades regardless of how convicted I am. I I just I'm not big into taking massive risks because I just don't feel like I need to at this current junction. Now with that, that is my type of risk and trader personality. Do you think any of these shitty grifters or these shitty traders or these shitty [ __ ] clown influencers that come into GME, do you think they know anything about your trading personality? Do you think they know anything about how risk tolerant you are? Do you think they know anything about the size of your portfolio, let alone give a [ __ ] The short answer is no. The long answer is [ __ ] no. Now, the reason that I have these conversations with you guys is not to exclaim, "Wow, how amazing Jackie Latitz is and look, he's so perfect and oh my, what the fuck?" No, that's not the [ __ ] point. The reason that we have these conversations is so that I can get you guys to understand something. When I talk about staying long in this trade and I talk about my level of bullishness and my level of of happiness so far, it's because I bought here and the stock's here. I'm not going to add to the stock until I see something that gets me excited. be it a harmonic or a chart pattern or an RSI wedge or big premium flowing in or whatever it happens to be. But right now, I don't have that. So, I am content as can be to continue to hold on to my position to see it continue to go and rise to the upside. Now, perhaps over the course of the next few days, we may get an hourly RSI wedge or maybe a 15minute
23:42RSI wedge or maybe 15minute or 30 minute divergence or something, right? Maybe that'll form at the beginning or midpoint of this week, but as of right now, what we're kind of focused on is just the macro point of control and that 2295 spot. Listen, if you have the risk tolerance, you think the stock is going to bounce at these areas that I'm talking about, that's for you to make a decision and a trade on. Me, I'm not. That doesn't mean that I'm suggesting that this is a stupid area or that you're a [ __ ] [ __ ] because you longed calls at this area of support. That's not what I'm saying. What I'm trying to to to get my point across here is that my risk tolerance tells me that I wait for these structures, these RSI wedges, these harmonic completions, these bullish divergent touches, these back tests of the RSI center line or whatever it happens to be, right? you. I don't know you. Maybe you you're like, "Oh, I like to [ __ ] swing trade at macro areas of support. I don't trade divergence or I don't trade harmonics or I don't trade RSI wedges." Okay, sweet. So, I'm analyzing this for you to make your own personal decision on, but I also want to make sure that I'm not being wishy-washy and saying, "Okay, guys, well, maybe this, but maybe that." Listen, I have my opinion about GME. I think we are in the midst of a breakout and I am actively looking for the stock to hold this area of support at 2295 and lift up and off of this because I really believe that we are in the midst of getting into that next phase, that next cycle where people begin to realize that GameStop has a ton of runway for this holiday season to make a bunch of money. So my level of patience and my level of tolerance, I I have no fear and I have no concern. That's just where I am now. I may have some fear or concern should it make an hourly RSI wedge and I go long at this area of support and I got my stops up and I'm prepared to, you know, lose some money on that trade, like maybe my anxiety will be a little bit up there.
26:00But at the end of the day, this right here is the point of control. And we broke it last week. And not only did we break it last week, we gapped above it with the help of Ryan Cohen's uh purchases. If we continue to hold onto this area of support and consolidate off of this, you could easily make an argument that this is basically in the midst of making sort of like a a a round bottom with a little bit of a flag out and then a pop off of this that could start pushing us to those next levels. We are in the midst of a breakout and I want to remain bullish on that breakout. Now, we have run into resistance. There's no doubt, right? If we draw a little kind of like I'll say box around this area, that area has been pretty big resistance more so specifically over here over the last little while from the eBay and last Ryan Cohen purchases. So, we know that this area is a pretty big area of resistance. But should we be able to break through this, right? You have to understand, look at where we are now. Th this is our point of control and support. This is resistance. So now we're basically hoping to sort of pinball around within this area leading to a breakout that has liquidity, liquidity, liquidity. Just gap gap gap gap areas where price can just rip through it because there's nothing there. It's basically just thin air. And so if we can break through this little range, we should be able to see the stock have a big move. And what also excites me beyond the fact that we are back at this area or this point of control, you take the same box that we drew right across these lows where we currently find ourselves at that point of control. That's the same area that the stock was bouncing on prior. like that. That legitimately is the exact same area that we have bounced on before where the stock boed here and here and then back here and now we push through it again. This is actually like a pretty pretty significant area both in the micro and on the macro. And should we now be able to back test this and successfully bounce off of this,
28:19GameStop can have not just a significant recovery, but it can have that push towards $30. It's going to take some time. But one of the things that we spoke about ad nauseium that I know many of you guys got really frustrated about listening to was the technical cooling, right? We looked for a technical cooling. We wanted those technical indicators to have a little bit of a pullback. Well, guys, guess what? Daily RSI pullback. Beautiful. 4hour RSI. Those bearishly divergent touches led to a pullback. Beautiful. Look at the daily money flow index. Remember how it was so overbought? Look at this. Now you're back to the green line of security. All the little technical cooling that we asked GameStop to do. It had. And then look at the daily Ballinger bands as well. right back inside of them. Center line sloping up, lower band coming up quickly. All the technical cooling that we asked for, we now have. So now we look for the stock to build some support, build some divergence, hold these macro areas of support to then lift up and off of towards that next level. And we don't really have anything that suggests to us that there's something negative where everybody's just jumping ship, right? The stock did a lot of really positive things last week. And I know it didn't close the way that we wanted it to. And I know it didn't print the weekly three white soldiers, but listen, it had a great week. And although it didn't really close out that well, it still had a great week with insider purchasing. other people, other normies are beginning to pay attention. And I promise you, a storm is coming. But now our goal is to be patient enough to sort of see, at least with this week, especially early, can we hold 2295? Can we use this area of support to lift up and off of and back towards the box of resistance and then back up towards those $30 targets that we were hoping for. Right now, if we turn on another little obscure indicator that you guys have seen me speak about over the last couple of days and weeks, we have the parabolic S. And on Friday, the parabolic S was triggered. You guys can see all red dots and then blue. So it was triggered
31:05on the bullish parabolic S on Friday. So the parabolic S is the parabolic stop and reverse. You are now at macro support. Let me show you what macro support looks like because it goes deeper than just the point of control. It goes deeper than just these little boxes I've drawn. It goes deeper than just the arrows, right? If we draw a couple of different Fibonacci first, from the $36 highs to the 52- week lows, look at where we find ourselves. We are at the macro 382 of support. Huge, huge area again where that parabolic S was triggered. Okay, now draw another fib from the low to the high of this move. And so far, we have only run in to the 236, meaning that we have only retraced 23.6% of this move. So why is so much of the [ __ ] community afraid because of one retracement? Listen, if this candle blew us all the way back down to $21 to end the week and the weekly candle closed red, okay, you got me. But all we had was the RSI reaching a record [ __ ] high and now it's pulled back to an area of health where we can build support. We've triggered technicals and we can turn this thing around right here and push right back up. These are the levels of patience that are now required with this trade to see it through. And listen, I I spoke about this with you guys a couple of uh days ago when we were talking on stream about 2020. 2020 didn't also just go up in a straight [ __ ] line. Okay? 2020 also saw its own series of deep pullbacks and deep retracements. But they too had retracements that made higher lows that continued with a breakout. And when I say breakout, I really mean breakout. The stock sat in this range for the better part of like two years and the fact that it held into this range for the better part of two years once it finally started to break out. Look guys, in 2020 it also back tested the top side of the prior resistance. This was prior resistance, right? This was the resistance when it was failing to break out and then it broke through. came back back tested [laughter] and then held and the rest
34:14is history. Now look at where we are. Okay. Theoretically, what we would like to see is for this run to hold to this support, break out, come back, back test the prior areas of resistance, and then rip faces all the way through 30, 35, up to 40. But in order to get there, we got to play out what we have in front of us. And what we have in front of us is the point of control, the macro 3a2, the micro 236, and a run that had one red candle. No, sorry, 1, two, three. We had three red candles in how many days? Three red candles in 12 trading days. Three. We now have to have some patience to let the technicals build out here. But they look phenomenal. This week you're going to have the weekly hull. You're going to have the weekly hull flipping. This is almost definitely going to flip green next week. On the daily, we have the daily hull coming up super quick, which is also breaking the daily 50 and headed towards the daily 200 period moving average. If we can get the hull up to the daily 200, we are going to have another layer of support underneath us to look for price to use as support rather than resistance to push up and break up to the upside. Okay. So, that's what we're looking for this week, folks. That's what we're looking for this week. Um, it'll be same schedule as usual. I don't know if we're going to be doing seven hour streams this week, but uh it'll be same schedule as usual on roughly same time as usual. And uh yeah, I think that's really about uh that's it. And that's all that I got for you guys. So, uh, we will further this conversation on, uh, tomorrow morning and we'll carry on with our GameStop conversation. Um, yeah, I mean, there really isn't too much to add now that we have that technical cooling. Uh, I really want to see GME on some of these smaller time frames begin to give us um, some signs of life. You know, like I want to start to see some divergence. I'd like to start to see some some building of this support and I'd really like to start to see the stock hold this area above
37:012295 and really rip faces, you know, and I I I really do think it's possible. I I think we just have to give it some time to to get to that stage. And early this week is going to tell us a lot, you know, like we don't early this week, we don't really want to see this breakdown. So, I know nobody obviously wants to see it break down, but early, right, the idea is is that early this week, we're going to kind of hover it like that kind of 0% range. And if we can do that, that's going to be really positive because that's going to start to build some of those divergences and some of those things that we're looking to have happen so that we can make that next swing, that next move to the upside. All righty. So, we had SD Burer with the $20 bombarino says, "Thank you for your time." Thank you, SD Burer. Appreciate that, man. Thank you very much. And uh yeah, folks, that is it. That is all that I have for you guys. Um too bad the cat didn't tweet. Too bad the cat didn't tweet or say anything or have anything happen. But, uh, you know, uh, maybe if we click our heels three times and say, uh, Boston before we go to sleep, uh, perhaps perhaps, you know, something could happen. You never know, right? You never know. You know, the stranger things have happened. But, uh, otherwise, you know, uh, we continue to remain hype and excited as ever, and we'll see what happens early this week. And if early this week we can see this thing build some support, I think we're going to be in pretty good shape, guys. So, thank you everybody for tuning in to the show. Hopefully you learned something. Hopefully you uh have a little bit of preparation for this week. And uh we'll see you guys uh tomorrow morning. Thank you and bye. >> Yo yo green. Let's get it lit. It's your boy Jackie tips. Swipe up GM quick. Always Jack to the Tit [music] we always jack TO THE TITS. YEAH, [screaming] LET'S TRADE, BABY. GO.