Amazon reports last night
Earnings per share - above expectations.
But on the revenue line - $148 billion - below expectations - $148.8 billion.
Amazon slightly misses on revenue and drops 7% in after-hours trading - straight into the arms of the 200-day moving average - this is where it gets interesting.
Note the attached chart: The last time Amazon touched the 200-day moving average was in October - where it was stopped - and changed direction.
Will this happen again?
P.S. - Today at 15:30 Israel time, US unemployment data for July will be released - a figure that will affect the market.