AMZN Update & Situation Report

                   First a personal situation report, we have a Heck of an Electrical Storm right on top of us right now, I mean setting off car alarms, cutting power out momentarily, etc. Of course I have battery back up, but there's not much I can do "Quickly" if I lose the Internet Connection on the provider's side, except re;locate which I'll tell you if I have to do that, just so you know, but since writing, it seems to have calmed down a bit. My dog is trying to hide under a couch seat cushion.

OK, AMZN Update, I have seen many emails on AMZN, a lot of you have profits, which means you got a better entry than did I. My expiration is May 10 so I still have time.  Once again there's so much going on in the market that I'm pretty slow on email responses today.

I have a VERY hard time believing this is the extent of AMZN's run, which also tells us a little something (1 small clue) about the market as well. Today's candlestick pattern is called a "Tweezer's Bottom" as the two long lower wicks from the last two days look like a pair of tweezers at almost the exact same level. This is a reliable candlestick reversal pattern so again, I think a dead cat bounce in AMZN is really yet to even begin, I do think we are wrapping up the "Reversal Process" which is about proper scale for the move.
 

 This 15 min positive developed for the first time yesterday, I was quite surprised and it has gained today, this is no joke and I doubt the move is over just as this strong indication just shows up and improves.

 The 5 min chart (also institutional scale) is showing the rounding bottom, it is not unusual for the second half to be more aggressive so the symmetry is often off, it is also not surprising to have a head fake move, but I think we already saw 2 here and the last one (yesterday) I said there was very little volume on the move, I doubt there are many more longs to shakeout at this point.

The 1 min intraday is fine for intraday, but I don't think it holds any importance at all in analysis of the bigger picture that this trade was entered for.

The 3 min is leading positive, perfectly. If there's any profit taking, I suspect that is all it is as it couldn't migrate to the 3 min intraday timeframe.

A closer, (intraday) look at the 15 min shows no weakness whatsoever.

Even the longer term 15 min momentum chart is improving and this is a long timeframe for this layout. Stochastics is positively divergence MACD is as well, RSI and momentum are.

I'm sticking with AMZN Calls.