Amazon announced it plans to open a brick and mortar store in NY and we should all be hoping it is just for show! The stock looks poised for a nice drop after rallying to 61.8 fib extension in its last move down and has now broken a upward sloping trend line
and re-tested it. Until this company can show earnings
I think buyers have dried up at these prices and are waiting for Amazon to prove they can flip the switch on profits. Divergence all around and massive breaks of moving averages should help bring this lower.