AMZN Update

Yesterday I posted twice on AMZN, "AMZN Gap Fill" and "Keep An Eye on AMZN"

Here's AMZN this morning...

 Here's AMZN breaking below the area I consider to be important support and a probable head fake/ bull trap. Initial breaks of important support almost always see a volatility shakeout rather than what use to be a simple test of resistance, so you may want to keep an eye out for that today if you are interested in a short position in AMZN.

 Note volume picks up exactly where our trendline is broken this a.m.

 The deterioration in the 15 min chart, even at a higher high.

 And this 60 min chart deterioration wasn't there when we first looked at the trade set up.

Here's the daily trend channel as a potential stop around $202 on a closing basis, although I'm always for the widest stop practical on initial entries.

Watch for some intraday strength, it may very well be an opportunity to get in to AMZN, also watch for a close below our trendline and below the Trend Channel.