AMZN reports today after the close and that should be the last curve ball thrown at the macro picture. In other words I expect at best one more up day in knee jerk sort of way before the next major leg down begins. DJI Intermediate Term Without boring anyone to tears with EW rules, guidelines and intricacies, suffice it to say that a breakout now to above 35,000 could cast doubt on the immediate bearish scenario and TSLA begins its trip to the moon, mars and galaxies unknown. Otherwise, a 10,000 pt DJI drop between now and the end of the year. First hint of bearish breakdown: a price decline below the horizontal blue ray shown mid-way between the most recent wave 1-2, about 32,762. AMZN - A little room to run higher on earnings report As for AMZN, there is room in the pattern for another day or two of higher prices, but the overall pattern is bearish and looks to be setting up for a new leg down from just above current levels. That's why a bullish reaction to the earnings report does't change much big picture wise.
