There’s just one important event on the economic calendar this week:  AMZN earnings due out after the close on Thursday. The ‘experts’ are predicting $1.27 per share, but we know enough not to care whether the retailer beats their dart-board forecasts or not. Far more important is whether the lunatic juices are flowing on Wall Street at the moment the earnings are announced. The Street’s state of mind is unpredictable, of course, but we’ll nevertheless be able to get a good ‘read’ on AMZN based on how it reacts to the news. If the stock pushes above the two peaks shown, the higher of which lies at 1590.00, that would be bullish for the stock market as a whole, since AMZN is by far the most important bellwether for U.S. economic activity. Alternatively, if AMZN fails to exceed both peaks this week, that would be quite bearish for stocks. It’s that simple.