Amazon is trying to print new ATH after almost a year of sideways consolidation. I posted another analysis on hourly chart of how AMZN could potentially have false break out here.
What’s very interesting that Apple is also trying to test ATHs today after 10 months of essentially sideways move, but most of the market is not participating, all other areas of the market are down today including overall S&P. This doesn’t exactly indicates confidence in overall market, but let’s see if new ATH holds. If it does, price move to the upside should be huge considering size of the consolidation. I’m still skeptical, but of course market can prove me wrong.
What’s very interesting that Apple is also trying to test ATHs today after 10 months of essentially sideways move, but most of the market is not participating, all other areas of the market are down today including overall S&P. This doesn’t exactly indicates confidence in overall market, but let’s see if new ATH holds. If it does, price move to the upside should be huge considering size of the consolidation. I’m still skeptical, but of course market can prove me wrong.
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