AMZN Glowers at Bears

AMZN, the most important stock in the world, spent all of last week in a holding pattern, albeit one that looked like consolidation for a thrust to $1055 in the days ahead. With the stock currently trading for around 1004, that would equate to a 5% move. It’s inconceivable that the broad averages would languish or fall were this to occur, so bears would do well to prepare for a tough week. And if AMZN should push decisively above a ‘midpoint Hidden Pivot’ resistance at 1022.49, especially early in the week, shorts should dive for cover.