A potentially major resistance looms at 1083, but we’ll use a lesser, more conservative target at 1024 (see inset) for now to avoid being caught unprepared if AMZN should turn south with unexpected vengeance. The stock ended last week an inch from tripping a ‘mechanical’ buy signal via a pullback to the red line, a midpoint Hidden Pivot at 981.73. Your bid there should be tied to a stop-loss at 967.36. If you want to cut the entry risk by as much as 90%, convert the ‘mechanical’ buy signal to a camouflage set-up, using the one-minute chart or less to get aboard an uptrending ABC pattern of lesser degree. This trade will likely be for Sunday night-owls, assuming it continues to evolve in the way we require._______ UPDATE (Jun 19, 8:30 p.m. EDT): DaBoyz sprang a bull trap on the opening bar, giving thousands of buyers something to regret just moments later. However, because the fleeting high slightly exceeded the peak from which last week’s tech mini-crash began, the pullback can be bought for a shot at 1024 or even 1083. The stock was setting up a possible counterintuitive entry on the hourly chart at the close, where A=985.00 on 6/16._______ UPDATE (Jun 20, 1155 p.m.): AMZN looks like it’s fixing to pull back beneath prospective A=985.00, so I’ll suggest moving to the sidelines for the moment.
