AMZN came close to tripping a signal to get short Friday when it fell toward the green line (see inset) toward the end of the session. However, I’d suggest passing up the trade and bottom-fishing at p=953.14 ( see inset) instead. You could use a stop-loss as tight as 952.91. If the trade gets stopped, you can try again at 946.88, a midpoint Hidden Pivot support that can be found by sliding ‘A’ up to 1012.99. If the stock can close above that number as soon as Monday, that would be extremely bullish, yielding a projection of 1024.83 over the next 4-6 days. I’d turn cautious at that level, however, because the pivot looks capable of generating an important top. _______ UPDATE (Jun 12, 9:55 a.m.): The lower Hidden Pivot at 946.88 gave way to a fleeting bounce, but the stock has since relapsed and could sink to p2=928.04 now, or even d=909.45.
