AMZN - ready to dive

AMZN has topped in the wave A of 5 which retested the previous top made by an impulsive wave ( 3 ) up. This is a classic textbook pattern under the Harmonic Elliott Wave theory. In majority of cases wave ( A ) of ( 5 ) is never strong enough to break out over the top of wave ( 3 ). It can make a higher high but in majority of cases only to reverse and drop in wave ( B ) down. After that wave ( B ) down finds its bottom we should see another rally in the very final wave ( C ) of ( 5 ) that will finally make a new All Time High.

AMZN - Weekly Chart updated on 7-18-2019