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Friday, January 29, 2010

AMZN - Post Review

Well it was a pretty interesting day, as we moved higher to only sell off in the end of day. GDP number was better the analyst had expected and that was pretty much the end of the EcoNews. We did not go below 10K, we will see if this will happen in Feb. Jan tends to be the tell for the year and it is having a hard time, at this writing.

AMZN reported earnings last night and it was good for a $700 to the downside, since the market open this morning. NASDAQ was the first to drop down into negative territory, then the S&P. We do not count the DOW, due to it only having 25 stocks. Resistance is 131 and Support is 119.99 levels. Price did not close below the 20 day MA on this Daily chart, however, the Dollar gap into the close. So, if we get a close below the 20 day MA look to test the support level. This is not a recommendation or solicitation of this stock or any other charts displayed here.