AMZN Bulls Caution!

2023년 8월 5일

I don't know how many times during 2021 - 22 I heard AMZN will "save the market". I wish I had a penny for each time someone said that. As we all know AMZN didn't save the market. I heard it again yesterday and rolled my eyes.

Anyway. We have an erection (that we know is followed by a correction) right into a double top. (we also know a double top can either reverse right AT or slightly higher or lower from the previous top.)

That's all fine and dandy BUT! it's the macro that is telling the real story which I won't get into here.

Over the years I have been taught by the markets that when the macro and the charts are signing the same song it is the most powerful signal I should listen to. While nothing is perfect (as some pretend I must be) This chart is screaming to the bulls CAUTION!!!

2023년 8월 10일

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Those who chased AMZN are quickly finding out that wasn't such a good idea after all.

2023년 8월 12일

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I guess AMZN didn't "save the markets" again. Who would have guessed that?

2023년 9월 19일

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AMZN CRACK! As expected.

2023년 9월 21일

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Big Gap down today in AMZN as expected.

MAgic!

2023년 9월 28일

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AMZN is Knifing lower as expected.

2023년 10월 25일

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AMZN knifing lower. As expected.