Click on the chart to enlarge it.
Moving to the half-day chart of Amazon (195 minutes), first notice that it was generating a ZeroHit as of 10:45 am MST on July 20th (marked as B in first sub-graph).
Note also that this decline was part of an earlier NMC ZeroHit on July 13th (marked as A in the first sub-graph), which also occurred via an NMC2 “cross kiss” ZeroHit on the daily chart (see above).
Additionally, prices had come back to the Fast NMA indicating probable resistance (up arrow shown on prices on July 20th).
Moreover, the NMC2 and NMS oscillators were both below zero and below both of their respective sets of natural moving averages, and were recycling to meet resistance from their Fast NMA (shown as C and C' in bottom 2 sub-graphs).
Finally, both NMA's were sloping downward, implying trend mode.
As with the daily chart, all signs so far indicate a market ready to begin another immediate thrust to the downside —just what we want for a good put option trade!
(This is the end of Part 4. Go to Part 5.)
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