AMZN P/S ratio EXTREME

AMZN reports AMC.

It could attempt more of a bounce again. But it is getting increasingly likely that it is starting the orange PirateNinja that can take it down toward 1500 region or even below.

That should confirm that the P.3 did in fact top. P.4 can easily fade down longer term w/ market toward 700-500 region.

I used to track AMZN in conjunction w/ its P/S ratio. It used to function like an oscillator and the 3s were "extreme". During this (5)th wave off the 2014 lows (~290) it got SO extreme that I stopped following it. I peeked again for the first time in months and we can count a clean 5up inside (5) of P.3 as an ED toward 4.75. One of the things I will be watching for clues the P.4 is finding support is this ratio getting "reset".

AMZN - Primary Analysis - Oct-25 1100 AM (1 hour)
AMZN - Primary Analysis - Oct-25 1100 AM (1 hour)
AMZN - Big Macro - Oct-25 1100 AM (1 day)
AMZN - Big Macro - Oct-25 1100 AM (1 day)
AMZN TC2000 wFA 10242018 3Day
AMZN TC2000 wFA 10242018 3Day
Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.