When AMZN goes down after this distribution, expect retest of March 2009 lows coming up next.
10% chance of double top here, but I would not dare bet on it and if everybody else thinks like me, then the opposite happens. Just the fact that AMZN is at all-time highs, tells me this market is 90% going lower. time to pay attention folks we are near another pivotal point.
Just look at the broad market and former leaders like BA, CAT, and MMM. They are all breaking down while the S&P 500 has been range-bound from 1100-1200. Since the generals are out of favor, I fully expect the S&P 500 to break down to the 1000-1050 area as early as next month. Scamazon and a few other bubble stocks cannot keep the market up indefinitely. Crooks will book in gains for the holidays.
Scamazon is up due to fast $ playing with the risk-on theme. When risk-off is back, then Scamazon will see sub 200 in less than one week.