Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Significant Correction Still in Progress for AMZN


A look at the pattern developing in Amazon (AMZN), which is one of my indicators for the QQQ and the QID. My near- and intermediate-term pattern and momentum work is warning me that AMZN is in the midst of a significant correction that projects into the 210-205 area prior to completion.

Today's reversal from 234.50 represented the end of an intervening rally that separates two corrective declines. As long as 234.50 is not hurdled, rallies in AMZN should prove to be headfakes prior to the completion of its correction from the Sep 20 high at 244.30 to the next optimal target of 210-205.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!