I have been following the markets closely as most have and I wanted to share my thoughts on Amazon, and on the stock market.
Prior to our pull back with the entire stock market at the beginning of February, I was watching Amazon shares closely, monitoring it's bubble formation.
It was very clear to me that we would see a quick pull back at $1500 if we were nearing out topping for the bubble. And right on the dot, we did it. And so did the entire market stock market at the same time. It all fell.
Now, we have to say, where are we going from here? When I look at the formation for Amazon, we are approaching our bubble blow off top, which occurs at $1750. I assumed the DOW would rally up to 28,000 points along with Amazon, but it's not. There does not seem to be the overall recovery going on with the DOW. So, what do I think? Well, I don't think we can really measure the DOW at this point. It's not going to give us a real target. But I think Amazon will give us the clue.
BE PREPARED! Watch what Amazon does at $1750, and see what the rest of the market does.
With all the fib lineups prior to that moment, and the anticipation of $1500 being our last big pull back before the bubble pop, I feel pretty confident that our top is at $1750. Since the whole market took a dump the exact time Amazon was expected to take a dump, then there is the chance that we can expect the market to make the exact same move at the exact same time Amazon is going to pop this bubble. Which according to my measurements and expectations, occurs at $1750. So, when we are getting close to that $1750 mark, it will be interesting to see what Amazon does, and what the whole market does, at that exact same time.