13Apr10:59 amEST

Amazon Beast Versus the World

To very little surprise, Amazon is in the familiar position, love it or hate it, of trying to keep the rest of the market afloat. 

Shares of AMZN are currently a rounding error away from all-time highs which, despite the obvious benefits the empire that Jeff Bezos built has enjoyed during this moment in history, is still something to behold given the overall economic decline and belt-tightening bound to be happening from the consumer. 

Other, now-obvious, stay-at-home beneficiaries like DOCU NFLX PTON TDOC ZM are also acting well this morning. 

But AMZN's massive market cap is critical here, as the Dow and S&P are down by more than 2% as I write this. Should AMZN continue to keep things afloat, so to speak, by not cracking under the pressure coming into the rest of the tape, especially with the problem stocks like AAL CCL DAL NCLH RCL UAL all down big again, it is hard to see bears being bold enough to keep forcing the issue. 

Of course, as this session develops, if AMZN flinches and heads back to the flatline we could easily see bloodbath. High stakes indeed. 

Also note the strength in Wal-Mart (WMT), tightly bull flagging. While not nearly as sexy as AMZN, WMT is another clear winner from this cycle and ought not be overlooked. 

Weekend Overview and Analysi... Stock Market Recap 04/13/20 ...

 
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