The major players take profits every week by selling weekly options at prices inflated by their manipulation of the market..
We are getting close to a new one. The all time high closing week was June 5th @ $725.54 , The following week the intraday high of $731.50 was set and that week ended at $718.02 after a low of $715.46 . Going up to the Q-2 report later this month we will see major fluctuations so trade with caution.
Based on the closing prices for the past six weeks ($702.77, $712.15, $725.54, $718.02, $706.36, $699.00) I expect a close nearer to $710. The Q-2 report is only 3 or 4 weeks away and, as usual, great things are expected.
Trump will get Congress to reduce Corporate taxes in order to stimulate the economy. Taxing corporations makes little sense because they just pass it on to the consumer. The Democratic Party just taxes corporations to buy votes. They know that Democrats are too dumb to realize that they end up paying the tax.
Probably not this week but soon. AMZN's Q-2 report comes out 7/21 and the average of 36 estimates of the earnings is $1.10. That will bring AMZN's earnings equal to WMT's earnings. (WMT stock is going for $72 a share)
NASDAQ down over 2% and AMZN down less than 1% and volume is below average. No panic here. In fact we are moving up and will likely be above $700 by the end of this week.
It is 80% owned by institutions and they make a killing selling options every week. The P/E means nothing because their earnings are on expired options each week.