AMZN is nearing escape velocity from what had begun to look like a bearish head-and-shoulders pattern going back to mid-April. The stock tripped a theoretical ‘buy’ signal last week when it touched the green line (click on inset) and is now no worse than an even-odds bet to reach the red one, a midpoint Hidden Pivot at 1057.80 that’s tied to a target at 1182.70 nearly a hundred points above the old record high. We’ll use 1057.80 as our minimum upside projection for now, implying the broad averages will be moving higher in sympathy with the shares of the world’s largest retailer. _________ UPDATE (Oct 22, 6:30 p.m.): The stock looked like hell last week, but DaBoyz didn’t need it as they drove just about everything else skyward in a take-no-prisoners short squeeze. AMZN ended the week with an about-to-fail ‘counterintuitive’ buy signal, suggesting it wants to roll over. If so, a print to the downside exceeding 980.10 would energize sellers._______ UPDATE (Oct 23, 5:18 p.m.): The stock dove as anticipated (see above), somewhat exceeding a 963.36 correction target on the hourly chart (a=1010.90 on 10/18). We’ll remain on the sidelines for now, until DaBoyz have manipulated the stock low enough to go bargain hunting again. The head-and-shoulders pattern that had attracted so much interest has been stretched way out-of-shape and must now be regarded as an intermediate-term consolidation.