AMZN XA leg led to all time highs. B Leg retracement closed almost exactly at the 50% Fib level. the .886 D Leg was hit today creating a reversal bar on extremely high . There is also momentum divergence seen on the . This level has seen support 3 different times as seen on the chart here. Also, seeing as AMZN had been trading over $400 only a few months ago - Institutions will see this as cheap to own at 296.58 as evident by the high seen today. With a decline after revenue review but no momentum to go with it, there should be know more gas left to drive the descent. Look for prices to hold above 278, which is below the lows of the identified XA leg, and retest the B point of this at $340. This is also extremely visible on the weekly chart and shows the x point as a very good for this .