AMZN is the only stock to which we need pay attention in order to get the big picture right. The company does nearly everything it does extremely well, and its shares are a must-own for any portfolio manager who wants to keep his or her job. In the tout immediately below, I’ve explained the importance of today’s strong rally in the stock, which topped four cents from a 1699.04 target that I’d drum-rolled here in April with the shares trading $240 lower. As of this moment, it would be speculative to say I expect the stock to do this or that. But it won’t be long before we know whether a top, or perhaps THE top, is in.  I’ve implicitly bet against this outcome by forecasting a 300-point S&P rally here the other day.  This seems a better bet to me than laying even odds that buyers in AMZN are spent.  In any event, we are likely to have our answer soon.