THE HEADLINE:  STOCK CRASHES THROUGH CRITICAL 200 DMA FALLING 10%

MATASII SII ANALYSIS:  JULY 12, 2018 CALL:  The daily chart (right) gives us a closer look at more recent action. The low and lift we can see in April comes off two significant technicals: previous long term weekly channel; and the current support from the wedge pattern since the lift started in 2017. Solid orange highlights technical trigger considerations: breaking up above the higher could mean a continuation of the positive wedge pattern; falling below the lower would have the market broken down out of the wedge pattern and through a significant blue s/r zone. Orange dashed arrows offer potential moves for consideration from one technical to the next.

In general we are watching to see if the market will continue it's positive lift within the rising expanding wedge or not. Lifting past recent highs and Fibonacci levels offers potential opportunities for more lift. IF the market falls out of the expanding wedge pattern, (WE HAVE BROKEN THE WEDGE) then we would also like to see the break of the significant support at the blue s/r zone for more down consideration (WE HAVE NOT YET BROKEN THE BLUE CHANNEL LINE).

Initial Chart:

As of 10-28-18

BREAKING NEWS STORY:

STOCK CRASHES THROUGH CRITICAL 200 DMA FALLING 10%

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SII - FANGS & NOSH

10-26-18 - "Amazon Crashes 10% - Blows Through Critical Support, Now Smaller Than Microsoft"

For the first time since March 2016, Amazon's share price has crashed below its 200-day moving average.

Down 10% on the day, after missing revenues overnight...

Amazon is now smaller in market cap than Microsoft...

All of the FANG stocks are getting crushed...

Dragging Nasdaq dramatically lower... (S&P and Dow are back in the red for 2018)

Expect the Plunge Protection Team any second - when was the last time we closed ugly on a Friday?