Amazon

Will Amazon get dragged by the falling Apple? It hasn’t consolidated as much as Apple & a bearish trend isn’t as clear cut. It should rally from here & test close to 246 again, but if it fails to break through, that may signal a short term triple top.

If a larger crash occurs later, I’m a buyer about 200, near its 50WMA. A trigger like a poor fiscal cliff fix may push it lower to its 200WMA at about 170-180, but that will only unfold probably early next year. Santa Clause rallies are expected as usual around Xmas.

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