AMZN – Amazon (Last:1670.443)

We’ve been using a 1775 rally target, but I’ve raised it to 1810.47 because of the gnarly beauty of the pattern shown. The stock looks like a good bet to reach p=1700.93 at a minimum, but if buyers can push easily past this “hidden” resistance, it would put the target itself in play. If it’s achieved — by no means a certain bet — the rally would surpass no fewer than three major ‘external’ peaks on the daily chart, seriously damaging the case for a bear market. This is certainly not what I expect, but we’ll keep an open mind and let the charts do the talking.