AMZN earnings bringing the market to a pullback
If you all saw the AH action on AMZN after it reported earnings you know it was not that great. two scenarios we might see. AMZN will resist and hold above 50 SMA or AMZN will drop toward that 3200 area which i will be heavily BTD. I am leaning more toward the scenario in red which will also form an IH&S implied move on that sucker would be an 8% move on break above support line. give it time as this could take a few days to play out. 1 PT 3600 after dip.
2 PT 3800 and my 3 PT (a bit on the extreme bullish side) 4000.
Short term bear; Long term BULL for sure.
2 PT 3800 and my 3 PT (a bit on the extreme bullish side) 4000.
Short term bear; Long term BULL for sure.
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