chart of AMZN
. As we can see here the chart is still in bearish
territory as we sit below (45) on the RSI
with last weeks hidden bearish
divergence seemingly playing out. We have our bearish
continuation pattern of the October double top
@ 2000 being respected and now confirmation of new resistance at the 1800 mark. We have clear rejection of the golden ratio (.618) on our Fib @ 1799 and per Elliott Wave
Theory , we are on leg (C) of the corrective wave which shall fall until we rest nicely around 1000-1100 level --- to revisit our present 200MA. We have entered a short this morning @ the open of 1638 and have a tight stop loss @ 1700. Short term target at 1485. Enjoy your weekend everybody. As always, BLOX CALLS TOPS!