AMZN Charts

 This is a long trend and a strong trend and a company with one of the most well respected CEOs out there. I can't say how much can be retraced to the downside, that remains to be seen, but I can say that a trend this big doesn't just flop over without a lot of subterfuge and volatility which are often one and the same.

 Even the last pullback had a fairly volatile area. The volatility is even greater in this area so I wouldn't be surprised to see more of it given everything we know (all the charts).

 I'm still very much a fan of the equity short as seen here with a 15 min leading negative divergence with increased downside momentum

 A nasty 30 min right in the area where AMZN is making new highs.

 And the bigger picture 2 hour chart with a very bad leading negative divergence, of course many issues look like this.

However...

 The 2 min chart is leading positive, remember what I said about flat ranges and seeing accumulation or distribution depending on the preceding trend, this is a good example of the opposite of what I showed you earlier.

 The positive is moving out to the 5 min chart as well, as you can see it's not big enough to concern me over the equity short, but big enough that I think an options play may be a quick , profitable move.

And even on the 10 min we have  leading positive divergence, so this makes sense to me, both trades even though that may sound counter-intuitive, they are in different timeframes and will move at different rates.