Today I was watching the price action on amazon.com with interest as the company announced it's earnings. From a technical perspective the weekly chart (chart 1) is in a down trend starting on the highlighted bar. The bounce on the daily chart gives me a potential entry on the short side if the stock closes below $119.73 on Friday's close (Chart 2).
I did not get a signal in RSX or TBT today and will not be looking for an entry tomorrow. DTG however was very interesting today. The signal was to go long on a close above $25.69. I monitored intra day prices and bought just before the close at $25.72. However, just after my trade was filled the stock fell back slightly and closed at $25.68 therefore not triggering the official entry! This can happen when the entry price is very close to the market action prior to the close. I will watch DTG closely tomorrow and sell quickly if there is a significant sell off during market hours. Such is life!
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Chart 1
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Chart 2
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