The stock that investors once loved has now crashed since the August 2018 peak. There may be an expanded pattern with this top, but for now, I will leave it out for now but a 5 wave sequence has started, which would be 5 waves down in Minor degree. I will have to adjust later but in the end, this AMZN crash is far from over. Over $119 billion has gone up in smoke, chopping the elephant down in size a bit. Buying on the “Dip”? Ok, that sounds like fun! AMZN could get cut in 1/2 again before any real bottom may present itself. The world is slowing down as a potential recession is heading our way. We might not see a large counter-rally until the media pumps out the bearish news. This could all remain bearish for the rest of the year, but eventually, we should also get a Primary degree counter rally within the next 4 years. The trend is obviously down as buyers are no longer in love with Amazon.
This is not some little correction in a bull market but it is the start of a huge bear market that only a few have been warning us about. If anything then AMZN might become a “Buy”, once Solar Cycle #25 has arrived. AMZN sure charged up with Solar Cycle #24, so I expect the same to happen again.