AMZN has been on a tear since tripping a ‘camouflage’ buy signal last Wednesday. The stock appears headed most immediately for the 789.77 target shown, but the move has not been lazy enough to afford an easy way aboard. Monday ended with the stock an inch above what had seemed a daunting ‘external’ peak at 772.18 recorded nearly two weeks ago; now, it would take just a small push above the 789.77 target to surpass yet another peak at 791.74. That would re-energize the intraday charts, setting the scene for this crucial bellwether stock to lead the broad averages still higher. Either the red or the pink line can be used to get long ‘mechanically,’ provided the pullback meets our simple rules. If you’re uncertain about how this works, ask in the chat room.
