Just as was speculated when this whole polka started, the fate of our entire market is in the hands of Amazon. Amazon is the most bearish looking momentum chart, and here they are, reporting after market close, as we teeter on the precipice of demise.
False move, real move logic has worked well up to this point. It has been the power move of the year, and it appears to be sticking again today. But the whole methodology depends on Amazon not filling the below volume pocket with dead-bull cream, in my opinion.
We are neutral, so today may go flat again. Don’t go chasing this move. Watch Amazon earnings. Watch GoPro intraday too. Watch solar as well. WATCH NOTHING ELSE, except maybe this clip:
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$AMZN – swaggggg