I’ve gone out on a limb with a speculatively bearish call on the E-Mini S&Ps and a correspondingly bullish one for June T-Bonds (see below).  But if a sea change is about to occur on Wall Street, there’s scant evidence of it in the chart of AMZN (see inset), a stock I referred to here the other day as the 800-pound gorilla of the securities world. It is as good an analog as we could find for the mood of institutional buyers who will ultimately determine when to pull the plug on a bull market that just entered its tenth year. From a technical standpoint, AMZN must reach the 1639.19 target shown to maintain the indomitable bullishness of its long-term chart. If it were instead to dive below the red line, that would be persuasive evidence that the bull is, if not dead, then in serious trouble.  We’ll continue to monitor the stock closely in any event, since it is unlikely to mislead us concerning the health and vitality of the global bull market in equities.