A Look at $AMZN

If tomorrow is a rally day, (which this suggests is possible), it is hard to immediately see that on Amazon which has already struck perfect 1:1 wave balance at its most recent high. But, that is derived from positioning Orange B at the lowest low (green arrow):

AMZN

If we position it at the prior low (green arrow), it gives us some wiggle room up here for 1:1 wave balance, allowing it to stretch to 139.41, which is 4% above us.

AMZN

So, if we have a rally day, that’s where this can go before it begins its descent but I wouldn’t expect any higher than that. Once it begins to decline, it should go to the eighties.


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