The above chart of AMZN shows a very nice 5 wave advance. AMZN is currently working on a 2nd wave base that could take a few more weeks to complete, which should lead to a substantial move in the latter part of this year and 2010. EBAY has been in the news the last couple of days, but it is lagging AMZN in the sense that AMZN completed its first wave advance earlier.
The second chart shows how simply looking at the monthly 6 and 12 period emas can keep you on the right side of the trend. The weekly 6 and 12 period emas would have gotten you out of a long position in 2007 almost a year before the monthly trend turned negative. Following the monthly would have prevented a lot of whipsaws.
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