In our analysis from October 5, 2021, we called for a possible top due to Livermore's Accumulation Cylinder being complete, but we needed a break below 3,175 to confirm that the formation indeed was complete. That break was seen on January 18, 2022 and since we have seen Amazon in a hard decline and is currently trading near 2,793. More downside should be expected according to Livermore's chart. We are not sure that the decline will follow Livermore's path to the letter. If that was the case, then Amazon should continue down to near 400 which seems extreme, but a decline to the 50% target at 1,905 is absolutely a real possibility and a decline closer to the 61.8% target at 1,465 shouldn't be excluded either.
Short-term a temporary set-back to 2,892 seems possible before the next serious decline set in.
