Rising 20 SMA now at 774
Amazon is completing a toppish ascending wedge on declining volume and momentum. The stock has completed a 5 impulsive Elliot waves count and reached some important long term Fibonacci targets. Minimum downside potential to the 23.6% retracement near the trendline linking the lows since 2014, around $600. A break below $755 would increase our confidence for more...
1.Fed will not raise the rate. Rockets up the price 2.Report will disappoint the market ,down 8~9 % on that day . In conclusion : Long then Short
If this market decline continous we have to ask the question if it will widen to a meaningful correction or not. In my other post I made a case for a long UVXY play. Question is how do you know when to take profits on any long UVXY trade? Actually this is simple and doesn't involve watching Price&Volume of UVXY. Just focus on the big stocks like FB, AMZN, GOOGL...
above the 20 SMA @ 768, may have another shot @ 800
The company has 0.5% of consumer spending in the United States are unlikely to shop will sell the house boats and trucks. Everywhere there is a limit. Expectations were high. But the reality is bound to come.
On RSI negative divergence at a fib extension target, invalid on a close above 777
Linderman " see's this www.tradingview.com Definitely something here. Waiting to see if we do get a nice pull back. Watch the hourly and short retests.
Algorithmic 5 dys forecast of the day This forecast is based on algorithmic analysis using Artificial Intelligence and big-data.
Technical analysis looks to be near a top - look for a 4 hour impulse to the down side and correction for a sell possible to the $650 range. Lets watch this one and see if it is finally ready to come down some.