I agree with Overnight. And that's a rarity. We fight like cats and dogs. So if I'm actually agreeing with him, you know AMZN is fuking going to SKYROCKET. You heard it from me first...
I'm not really disputing this, are you saying this time is now and there won't be any retracement that I expect?
If you look at NDX daily chart, an argument could be made that the correction isn't over as the right shoulder is being formed, if this triggers a sell-off it won't last that long, probably around 12,600, at which point, providing all is well, we go higher into 2022. So before we do go for new highs, I'd expect a brief correction helped by AMZN
I'm not saying it going to go up immediately. But either go up, or kick around a bit more then go up, before any major retracement down IMO.
Those are good levels. AMZN has some bearish forces against it. I think it will hit 2500 within the next 4 months. It will possibly begin a recovery after that going into the holiday season. This is not a long term short. Sell Short @ 3223 Set a Buy Stop @ 3554 Buy to Cover @ 2500 AMZN is about due for a bad quarter. The poor results will be blamed on covid restrictions being lifted and a return of shoppers to stores combined with less dependence on prime deliveries. Increasingly poor/lower customer service by Amazon will also be a factor.