AMZN’s Trial By Fire
Poorly received earnings from AMZN last week sent the stock right down to its Voodoo Fireline. That level is now an important decision level for the stock.
Poorly received earnings from AMZN last week sent the stock right down to its Voodoo Fireline. That level is now an important decision level for the stock.
The hourly S&P futures charts MIGHT be a bull flag, but a tiny breakdown would invalidate the entire bullish pattern.
In today’s video I give an example of us mirroring the last move that brought the /ES up to the 200 simple moving average just like early spring of this year. It’s an argument for this continuation to be considered to be just getting started. A big characteristic of bear markets are crazy bullish rips. This video is about just that. I discuss a complete repeat of a certain pattern we had earlier this year.
The week before Halloween has been ultra-spooky for the bears. In this video I discuss the dynamics involved for a short-covering rally for next week as well. In the past couple weeks my analysis has shown that we shouldn’t be shy to the long side anymore. My next target on /ES is 4,000+ for a continuation as we head into November. Big Tech earnings didn’t exactly make the market go belly-up and so I think we have found a limit-case scenario for the bears, let’s discuss.
Despite earnings disappointments from big-tech names, the bulls made some serious progress in the structure of the charts next week. Let’s discuss the roadmap that could see the SPX heading into 4,000 over the next few weeks.
With big-tech earnings behind us, the bulls go into the weekend having made some notable progress in the structure of key charts. From here, we’re looking for the potential of an August-like rally.
Many have asked how tech earnings can be so bad, and the market still close positive. I’ve got a few reasons I’d like to run by you, and considerations for a trade next week.