Amazon (AMZN) and internet stocks (DJINET) hit support

Well, not really (Amazon is not amazing, it’s a stock). But it’s a stock that did this at support yesterday, where I bought it. Here’s the updated weekly chart from yesterday’s pre-market post. Simply amazing.

Here is the updated Internet index, also from yesterday’s post.

NFTRH subscribers, should they have chosen to play a would-be market bounce were prepared for the 280 support area well in advance.

Similarly, they were prepared months in advance for what would-be energy sector investors should be taking note of this week.

We are only managing bounce potential in the market right now (another 1 day wonder or something more enduring?), but sentiment, as we noted in a pre-market update, has gotten nearly as bleak as August’s fright fest.