AMZN Follow Up

Yesterday I opened a long position in AMZN after having liked it just before horrible earnings only to see it pop the next day nearly 7%, so much for earnings and chalk one up for the positive divergences.

Yesterday's pullback looked like a good area, thus far today everything looks pretty good in AMZN.

 The white arrow is where we picked some up yesterday on a daily chart, the yellow arrow is at least where I'd like to see AMZN in the near term, we'll see what it looks like if/when we get there.

 Here's the area we picked up AMZN yesterday on a pullback from the move the day after earnings, what a surprise for a lot of traders!

 So far the near term charts look good, there was a positive divergence yesterday afternoon and AMZN is confirming the gap up opening this a.m.

 There was another similar divergence on the 2 min chart through yesterday, signaling that the pullback was likely over, it too is confirming this morning's gap up.

 This 60 min chart is one of the reasons I liked AMZN before earnings, even with failed earnings and a drop of 12% in after hours, it launched nearly 7% the next day, again just not normal behavior.

Right now the intermediate 10 min chart is both positive and in line intraday as we haven't made a higher high in price yet, I'll be watching this 3C chart to judge the health of AMZN, for now though all looks well.