AMZN just like GOOGL and other big cos are all breaking support levels. This could lead to a much bigger pullback than anyone was anticipating. AMZN could go on to test its 2022 lows...another 30% drop from current prices
We tend to see the market rally in Q4, I not feeling too confident on that. QQQ looks like it won't hold support. Testing a support level as earnings season is underway...not looking too good. Look out below...?
BAC price action looks pretty weak. We saw a false breakout at the 1.618 Fibb extension level from the 2020 decline. As it stands it is below its pre COVID highs and is running into some serious resistance at that level. Price action looks like it wants to head lower from here.
SPY failed again at the 1.618 fibb level. It looks like it will be heading towards the pre covid highs. Starting to see weakness across different sectors which is more evidence the market will go lower. We could see another 12% drop before any support