$AMZN: Down trend slowing down...
There's a possibility of further downside for 
AMZN over time, but currently, price action and the drop in commodities suggest that AMZN is likely to go higher for a while.
Until the next FOMC meeting, market participants might bet on a Fed pivot taking place sooner rather than later, given the drop in commodities suggesting inflation might be under control already.
I personally think what comes after it is a recession, particularly if the Fed stays in the same hawkish course for longer...For now I'm out of bearish positions and went long using options in a few select names, as well as stock positions in names like
TWTR and 
TSLA, etc.
Upside here is good, see the yellow boxes for time and price targets in the immediate short term. What comes after this relief rally until mid to late July is to be seen. Will know more when we get there.
Best of luck!
Cheers,
Ivan Labrie.
AMZN over time, but currently, price action and the drop in commodities suggest that AMZN is likely to go higher for a while.Until the next FOMC meeting, market participants might bet on a Fed pivot taking place sooner rather than later, given the drop in commodities suggesting inflation might be under control already.
I personally think what comes after it is a recession, particularly if the Fed stays in the same hawkish course for longer...For now I'm out of bearish positions and went long using options in a few select names, as well as stock positions in names like
TWTR and TSLA, etc.Upside here is good, see the yellow boxes for time and price targets in the immediate short term. What comes after this relief rally until mid to late July is to be seen. Will know more when we get there.
Best of luck!
Cheers,
Ivan Labrie.
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ivanlabrie.substack.com/
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