Amazon going forward is in Bear Market. Let see how it plays out. Long Term 200 EMA should be a big overhead resistance....
Trade active
⋅
We are at a critical level. Testing the neckline. Should break soon!!! Once it breaks next bounce support is $1349-$1370 (left shoulder low on Apr 4th)
Trade closed: target reached
⋅
Hit my bounce Target. Sold my puts Jan 18th $1350. Amazon should Bounce next week so bought a Call Jan 25th $1480. It will Come back and test the neckline at Around $1500-1525. I would sell my calls and buy Puts @1180 April or May and hold it for a while. January will be a BIG RED MONTH
Trade active
⋅
Sold Calls on Amazon of the bounce. Started going short. If it tries to go higher I will add to my shorts
Trade active
⋅
Added to my shorts. Overshot my target. I believe its topped out. Running out of steam. Target $935
Great call. Looks like the S&P, NDX, and Dow are now building small bear flags as well for another small leg down. Amazon looks like it could gap down when markets open tomorrow.