AMZN tech outlook – market update

AMZN had a good run so far and is heavily overvalued after it got the thumps up from Barron’s which is quite a contra indicator these days. In the 76-78 area it should make a top. We have a possible extension option to lower 80’s within the next 4 weeks but a substantial downmove is due thereafter in any case. I will update as soon as we have the daily 13’s in place.
Markets made a window dressing up to day and we might have seen the low for this week but next week will bring us lower to wards the targets described yesterday before the wave C up starts. The G 20 meeting should bring another small disappointment brief sell off before recovering and extending the recent highs.

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~ by behindthematrix on April 1, 2009.

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