AMZN – Amazon (Last:1666.24)

AMZN has trampolined $68 so far from within a hair of the 1496 target we used to keep on the winning side of this brutal selloff.  A subscriber reported getting long a few dollars off the low, but because his was the only such report posted in the chat room, I have not established a tracking position. The stock was getting sold down hard in after-hours trading, hitting a so far low at 1515 after bouncing as high as 1563. However, the original target at 1496.61 was sufficiently clear and compelling that I would expect bears to have difficulty pushing this gas-bag much below it overnight or Tuesday morning. If they succeed at this anyway against the odds, a Hidden Pivot at 1479.60 is the best alternative I can offer, even if it is no technical beauty. _______ UPDATE (Oct 30, 8:45 p.m.): The 1479.60 target proffered Monday night caught Tuesday’s low within less than $3. Here’s the chart, if you want to see how close that was. The subsequent rally hit $1540.99, providing subscribers who trade this vehicle with a explicit way to earn a quick, easy profit. We’ll back away for now, since there are no compelling targets immediately below, nor any good rally targets to infer from the day’s choppy action._______ UPDATE (Oct 31, 5:48 p.m.) The pattern shown should keep us well on top of AMZN’s gyrations on Thursday, but you may need to recalculate if the stock dips beneath the 1577 point ‘C’ low._______ UPDATE (Nov 1, 9:57 p.m.): The pattern shown in my 10.31 update and its 1717.32 target remain viable.