Do not be fooled. Many again calling a new bull market. Not yet IMHO.
This is a B wave and likely close to topping. Expect top within days, or hours.
The ferocity of short squeeze rallies in bear markets is amazing.
The best bullish moves often occur in bear markets! Because shorts scramble to cover, driving price higher.
But this is NOT a buy and hold...
Primary Chart: Primary Down Trendline from 2021, Secular Up Trendline from 1997, Long-Term Up TL from 2008 GFC Low, and Fibonacci Retracements from Covid 2020 Low
Summary:
1. This post provides a broader view of the technical environment within which AMZN's day-to-day price action takes place.
2. AMZN remains within a primary downtrend (see the parallel channel...
Primary Chart: AMZN's Primary Downtrend with Parallel Channel, Daily 8 and 21 EMAs, Fibonacci Levels
Summary:
1. SquishTrade's longer-term view is bearish. In the short-term, prices could bounce to retrace the first wave of decline from the November 15 high at $103.79.
2. Short-term bounce targets are $100. After the bounce reverses lower, downside price...
