Those that view the message of the market on a daily basis are likely to be confused by trading noise. While trading noise contributes to the long-term trends, it does not define them. Human behavior tries to explain trading noise as a meaningful trend. This confuses the majority which, in turn, contributes to their role as bagholders of trend transitions.
Amazon (NASDAQ:AMZN) sits right on a key weekly reversal. It doesn't matter what we think will happen, there's only what happens. A close below the weekly reversal (middle column), favors a test of the next lower reversal. This possibility should force AMZN and U.S. stock market bulls to at least contingency plan.