Shares of Amazon are down 15% in after-hours trading after an earnings miss (14c vs 24c, ouch). S&P 500 futures are down 7 points after falling 22 points during the session.
Gartman always says one of the first things the market does before a big fall is ‘shoot the generals’, meaning reversals in the highest flying stocks. NFLX and now AMZN. If APPL goes, this thing is cooked.