Friday’s selloff came within an inch of the 751.80 midpoint Hidden Support shown. It is a logical place to look for a bounce, but if the stock relapses and breaches the pivot decisively, that would make more slippage to the 702.75 target an odds-on bet. Regardless, now that the pattern has been confirmed by the reaction from p, all three Hidden Pivot levels — x, p and p2 — can be used to template trades in this vehicle. This can be tricky, so stay tuned to the chat room for guidance in real time. I will continue to track AMZN closely, since I regard it as the key bellwether for the stock market as a whole. _______ UPDATE (Nov 7, 7:05 p.m. ET): The stock has in fact bounced, with manic energy, from within inches of the 751.80 midpoint pivot noted above. Now, a print at 794.41, just $7 above Monday’s high, would trip a theoretical buy signal to as high as 918.33 (see inset). Buyers would need to close the stock for two consecutive days above a key midpoint pivot at 835.78, however, to make the target an odds-on bet. A less ambitious benchmark at 810.46 can be used instead to create a more sensitive tripwire.
