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2 down, 2 to go: AMZN, FB, AAPL, GOOG

GOOG: Wedge breakdown (check). Bounce off initial support (check). Next stop, 689.

AAPL rejected so far on the attempt to regain the gap while the 60-minute trend indicators flip to bearish.

Still awaiting a 60-minute break & close below the minor uptrend line as AMZN fails to take out the 723 R level.

FB still holding above the key 116 support...for now, with the potential for an Island Cluster Reversal Topping pattern, should the stock gap down below that level in the coming sessions.

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Jun 2, 2016 12:29pm|Categories: Equity Market Analysis|Tags: , , , , |2 Comments

2 Comments

  1. joefriday June 3, 2016 11:57 am at 11:57 am

    Randy… how’s AMZN looking… seems close to breaking below wedge..

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  2. rsotc June 3, 2016 12:11 pm at 12:11 pm

    Very close but not there yet. Still dancing on the uptrend line as of now but the negative divergences in place on the 60-minute time frame point to a very likely break below that minor uptrend line… soon.

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