Still Short on Amazon. Nothing Bullish about this Chart. It seems AMAZON Leading Nasdaq. Apple, BA, FB did well on earnings. Is Amazon gonna miss and take the whole Market lower to revisit December Lows or Lower?
Trade active
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Market topped I think. Confirmed Negative Divergence. December low came right after positive divergence confirmed.
Avka - congrats on your excellent call. Yes Amazon did fall after reporting lower guidance. Congrats!
gvoommen
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Looks like its going up :(
avka81
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@gvoommen, Bull Trap. Zoom Out and look who is in control. Lower highs and lower lows. We gonna sell off starting tomorrow or Friday. This one I'm pretty sure.
gvoommen
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@avka81, but what happens if it goes up based on earnings
avka81
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@gvoommen, Possible. But this chart is telling us otherwise. Amazon is known to miss holiday quarter. They might hit top line due to free shipping they offered (US consumers are not doing well, retail, in general, getting hammered) It's going up because a lot of shorts getting squeezed in my opinion. Amazon is my number one short (no stop loss at the moment), because I believe Microeconomics will play out this year. This is a Bear Market.
gvoommen
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@avka81, really good points. But there was an article I read in December saying that Amazon had the best sales in December . Let's see what comes tomorrow.