AMZN On Technically Borrowed Time

AMZN has pushed up above its Sep. recovery high of 1005, to today's high at 1011.17, which satisfies my minimum upside requirement for the completion of the Sep. corrective low at 931.75. My optimal upside target zone is 1022-1034, from where I am expecting a major downside reversal that initiates a secondary corrective decline that breaks the Sep. low in route to my two projected downside target zones at 920-900 and possibly down to 820-800.

From here on out (above 1011 to 1034), AMZN is on technically borrowed time ahead of another major corrective decline off of the 7/27/17 all-time high at 1083.31.  Earnings are due out on Oct. 26th, seven trading from tomorrow, which will set up a scenario either to "sell-the-news," or a reaction to disappointing results.

10 17 17 AMZN 130 GIF
10 17 17 AMZN 130 GIF

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