Will Amazon and the Naz Now Detumesce?

by Rick Ackerman

Amazon’s wilding spree topped yesterday at 719.00, exactly 44 cents below the target I sent out a week ago with the stock trading $35 lower.

My hunch is that AMZN will not significantly better the high in the days, or possibly weeks, ahead. Its vertical climb helped keep the Nasdaq index buoyant since mid-February, but without the inspiration, if you can call it that, the braod averages are likely to detumesce.

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