Amazon

  • AMZN

  • $201.17

  • -0.84%

  • $203.49

  • $203.49

  • $199.66

Upticks
Granny Shots

Ticker Appearances

First Word
Fri, November 1, 2024 | 7:45AM ET
Tomlee
Tom Lee, CFA AC

Head of Research

"Iffy" October behind us. But election uncertainty likely weighs on much of November.

VIDEO: It is clear that the winner of the 2024 Presidential election will not be decided on 11/5 evening, but could be a drawn out...

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Visitor: 80a3af-34a1ae-37e696-a1190c-19ce21

Thu, October 31, 2024 | 12:01PM ET

⚡ FlashInsights

Thu, October 31, 2024 | 12:01PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
^SPX 0.02%  has shown more damage and has undercut last week's lows. However, here also, price has not shown sufficient deterioration yet to think that the index has peaked out. There very well could be a relief rally into US Election given AAPL -0.96%  AMZN -0.84%  META -1.39%  earnings on deck which provide a bounce, but one that ultimately proves short-lived around mid-November. Ideally from an Elliott-wave perspective, SPX could make a minor new high into November and then began a decline into late November, technically. For now, as this chart shows, there looks to be ample technical support, making this morning's decline a probable good risk/reward for traders to bottom today or tomorrow for a push back higher, which might be led by large-cap Technology
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