Amazon is pushing up against the top of this 9-month descending trend line, and we’re looking carefully at what can be done before earnings on the 26th. After watching EBAY blow through its previous range after earnings two days ago (and using the “Buy it Now with 1 Click” button ourselves a few times this month) we’re a little hesitant to fade this recent rally by the popular online retailer. We’ll check back Monday morning to see if the move is sustained, but for now we’re respecting a small spike in volume and strength heading into the announcement. 

Amazon is pushing up against the top of this 9-month descending trend line, and we’re looking carefully at what can be done before earnings on the 26th. After watching EBAY blow through its previous range after earnings two days ago (and using the “Buy it Now with 1 Click” button ourselves a few times this month) we’re a little hesitant to fade this recent rally by the popular online retailer. We’ll check back Monday morning to see if the move is sustained, but for now we’re respecting a small spike in volume and strength heading into the announcement.