US consumer trouble ahead?

Amazon, one of the biggest companies in US represents the US consumer itself for many of us. The share's price action and the momentum gives some technical signals on the weekly chart, that call for caution.

- Ichimoku setup is neutral, and is vulnerable until price is below Kijun Sen (26 days average at 1850 USD)
- All momentum indicators have bearish bias: EWO is negative, haDelta+ and haOscillator cross down
- Real key level is 1670. A break below would trigger a massive selloff
- Some may say it is printing a double top , but let me remind you all, that double tops need a confirmation in terms of a neckline break. That would only happen at/below 1370, so don't bother yourself with trading an unconfirmed long term pattern.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out