Finally A Rally - Amazon.com, Inc. (Public, NASDAQ:AMZN)

AMZN rallied to the top of the R-Zone , consolidated sideways, printed NRIB (NR7) and rallied all the way back up to the reaction high from last week. I did not change the Fib. placement from yesterday because yesterday was an inside day, so RH and RL are the same going into today's session.

The two weakest stocks on my WL were ABX and AEM. Here I'm placing my fibs from intraday RH and RL. ABX retraces 50% and carves a bearish stick for a short. AEM was less obvious so wait for NRB.
SU gapped above the trend channel and traded sideways, forming a very narrow wedge. It finally broke down for a gap fill.

Dummy Trade of the Day - Research In Motion Limited (USA) (Public, NASDAQ:RIMM)

RIMM was my only trade on Friday. After gapping up on the open, it made a decisive move lower on high volume. The fourth and fifth bars were inside on declining volume in the lower half of the third bearish WRB. The S2 pivot point level (red line) held as resistance and the second inside bar closed near its low. Short as price crosses below $118.00. The setup is quite obvious on the 5 minute chart below.

The two blue lines mark potential support at the gap open from earlier in the week, and support at $113.00. As you can see from the 5 minute chart, the gap open level did not provide support on the way down, but it did provide resistance in the afternoon.

The price and volume pattern on the daily chart below looks like a bearish rising wedge, with Friday's bearish engulfing bar setting up the breach for the next leg lower. However, we also have a convergence of MAs which could grab and hold price up. We'll see how this plays out next week.