A precision of TA prediction

It is truly a rollercoaster week for the market: it plunged in the early week, followed by new highs in the middle and closed by another selloff. If you were sleeping the whole week after just buying on Monday and holding it for the week, you wouldn't see much changes when you woke up today. This is a rather crazy time period for the stock market as you can hardly hold stocks for a few days without seeing them going crazily up and down! For traders, the best thing to do is to go swinging. That's what I'm doing right now. Actually I have been long and short several times this week and my crystal ball (the VIX option trends) has served me quite well so far! No complaining!😎

Did you remember the following note I posted at the end of June?

The real problem I can see about Amazon is its poor TA. While its price action is really strong to move higher these days, the uptrend is associated with consistent negative divergence nearly in all the timeframes, which suggests such kind of up move is not sustainable. My gut feeling is that Amazon is setting up again for a sell the news moment, following the closure of the Primary Day. Fortunately I have set up a couple of short positions in the past few days. Sure enough, Amazon is crashing today with a haircut for nearly 2%. I have taken partial profit and keep some shorts still in place. I think AMZN is moving towards low $3300ish in the weeks ahead.  

Shortly following my blog, AMZN started to rebound again, making new highs around 3750ish. I thought I was totally wrong about my analysis on its TA. Well, AMZN "suddenly" crashed by 7% today following its disappointing earnings report. This is a rather extreme plunge for Amazon and the 270 points haircut has brought it all the way down to below $3330. Ouch! This is again another beautiful case verification about the value of TA. Somehow the charting has already dictated its near term fate. Mission accomplished!! 🤗✌