Shortly we should see a bounce or drown moment for AMZN. Perhaps a bounce higher could bring price back to $140 given a strong market headwind or, at least the midline of $135.
While to the downside, $110 is the low from an Oct. '09 momentum gap up, and $93-ish would be a gap fill and previous Resistance-turned-support level.
The previous two bounces were weak but it should be apparent very soon which way the crowd is leaning.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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