The single most important stock in the world is Amazon (AMZN)
AMZN has become a proxy for the entire stock market. If you overlay AMZN’s chart with the S&P 500 (below), AMZN has lead the S&P 500 beautifully during this latest bull run.
Indeed, AMZN’s chart is effectively the same move as the broader market, with less volatility (not surprising given how intense buying has been of this one stock).
With that in mind, what happens to AMZN provides a glimpse into what will happen to the rest of the market. Which is why the failed breakout to the upside in August was a big warning to investors that the market was losing steam.
But what’s REALLY important is the recent breakdown. As you can see in the below chart, AMZN has broken its bull market trendline. It’s now bouncing to “kiss” former support. And if it cannot reclaim that line, the market is in SERIOUS trouble.
How serious?
Something like this.
Again, the Everything Bubble is bursting. And smart investors who put capital to work here stand to make LITERAL fortunes.
