Amazon Update: Pressure is UpAccording to my analysis we are coming to the end of micro-wave 3 of our wave 3 of (C) of ((B)). I think we work our way up into the target box for the end of this retrace. After we top in our wave 5, we will head down towards my next box. If I am correct that signals around a 30-50% decline!...minimum. I hope I am wrong, but it appears there is a steep correction in the works for Amazon after this move higher.
If this count is correct, then that means our next major move down will be an A-wave. This indicates it will be swift and deep. It also means, Amazon is eventually headed even lower than that bottom box before it's done...
At this time though, pressure is up until $104 is broken. Good Luck my friends! And remember, I don't control price, I only state what I think it will most likely do next . Until price proves my count right, it is just a prediction , not a fact.
The turquoise count is my ALT and it is of a more immediate bearish trend. It suggests that the weakness shown after the earnings were released was just the beginning of this decline. It is less likely than my black count, but regardless it is still a possibility and must continue to be considered until price breaks $122.69 to invalidate that count.
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Bonam Fortunam,
--Tyler
