AMZN Amazon Daily Chart; Scamazon in a Correction

Scamazon is taking the pipe as expected and explained by Keystone when he called the top for AMZN on the daily and weekly basis. Amazon receives the neggie d spankdown that is in progress.

The chart indicators remain weak and bleak wanting to see more lows in price on the daily basis. The stochastics are oversold agreeable to a relief rally and the money flow is flat call it positively diverged. The bottom on the daily time frame is a few days away; the chart will tell you when all the indicators go possie d.

Price came down to fill that gap (orange circle) from early December and there are lots more gaps to fill down below. Remember, the weekly chart also topped-out with neggie d so a down move has started that will be multi-week. In charting, you are playing multi-dimensional chess with time the dimensions so marry the daily and weekly charts together and surmise that price should chop and remain sticky at the lows for a few days but then recover on the daily basis. After a few days or week or so, however, AMZN will roll over to the downside again to continue the negativity on the weekly basis.

A substantive bottom will not occur until the weekly chart goes possie d. Nothing to it. Simply watch the charts. Keystone is not in AMZN long or short currently.

Note that price is trying to find support at the 100-day MA at 212.83 so this is a logical place for a bounce, then slump over again, until all the indicators can go possie d (unless some happy talk from Donnie or the Fed or Emperor Jensen occurs).

The Amazon vans are all over the place these days when 5 years ago you were lucky to see one per month. Scamazon is eating UPS and FDX lunches. The UPS drivers have brown shorts because they are so worried about their future that they sh*t themselves. Both UPS and FDX have fallen into and are hanging around bear market territory down about -20% off the top.

For UPS, the -20% drop off the top from 141.23, on the infamous 11/25/24, is 112.98 and price is at 116. For FDX, the -20% drop off the top from 307.01 on the infamous 11/25/24, is 245.61 and price is at 253.54. FDX peaked on 7/15/24 at 310.77. Wowza, that was many moons ago.

How far down is Scamazon? Is it comparable to UPS and FDX to show that all three are in the same boat and people are simply not buying as much junk, or, is AMZN not down as much showing that they may be taking share, or, is Amazon down more showing a collapse in the consumer?

AMZN tops-out at 242.52 on 2/4/25. A -10% correction is 218.27 and a -20% bear market is 194.02. AMZN is in a correction now at 212.71 and not down as much as FDX and UPS so the consumer is hanging in there still trying to spend money on crap they do not need and Amazon continues taking share away from UPS and FDX.

Ask yourselves, folks, do you really need all that crap from Scamazon? The sweatshirts, leggings, travel mugs, shoes, whey protein powders, baby wipes, cat litter, wireless microphones, countertop ice machines, and surge protectors? When you are out of work in the weeks and months ahead, you will have time to drive down to local shops to purchase the things you need. The only thing that ever stops the great American consumer is a recession. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.