The First Stop Above the Clouds

With AMZN GOOGL SBUX representing some big Nasdaq high-fliers this morning, after earnings, keep an eye on those intraday charts if you are looking for Friday day-trades.

On the 5-minute timeframe for AMZN, below, for example, note how price marked time sideways off the opening gap in order for the 20-period moving average (orange line) to "catch up" to it. 

Typically, price should now give a better indication if it ripe for a day-trade long or short off this reference point.