AMC - Look Out Below! 🦍🦍🦍

All those lot, you know who I mean - that crowd that thought AMC would smash through $100 and probably more...

But with RSI hitting 90 this drop really was not hard to see coming.

This is looking like it will be a 5 wave collapse at least back to 0.618 retracement @ $7 for a 1:0.618 Z wave, but I think its going to be the complete capitulation down to $4. If it has a bounce I will reassess but more downside to come I'm quite confident.

If it gets there I'll be looking to complete my first "rinse and repeat" cycle selling NOT buying LEAP puts as I did last January and buying them back when all the apes come rushing in. 🦍🦍🦍

Not advice.