No post on Monday-Memorial Day.
Next week, EOM Platinum Members will receive a VIP Pass to attend the June 16, Intro to the seminar at JALC.
The goal of this series is audit the current ‘Big Five” market cap stocks to determine if “Simple Simon, Sell Signals are visible.” If so, we can use SS Sell signals for when to take (Bull play) profits and possibly dance with the Bears.
Today we analyze AMZN where 72% of their revenue comes from products, 18% from media and 9% from web services. How will this be affected during the next correction?
AMZN Key Points…
A. Currently trading with a .77 correlation to the SPX
B. No Dividend
C. Previous Simple Simon Sell Signals are highlighted-red boxes
D. Downtrends were signaled with red Elder Impulse Bars
1. Since AMZN holds a large percentage of the SPX value, we need to keep it front and center.
2. AMZN is trading above the 6 WMA and while overbought, shows little signs of profit-taking.
Next week, we finalize the current Big Five to know when to take profits and put on our “Bear Suits.”
When complete, we will update our All-Star A&B and High Dividend CEF candidate plays.
Enjoy your day!
David O. England
Plan your work, work your plan, and share your harvest! 1 Timothy 2:1-2
This information is for Educational purposes only. It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.
DAVID O. ENGLAND is the founder of the Eye on the Market-Training Academy and Associate Professor Emeritus of Finance. This column is presented for educational purposes only and not intended as financial advice.
If you have a question or comment, contact David England at firstname.lastname@example.org