Amazon (AMZN) Impulse Pattern Remains Incomplete

The Short-Term Elliott Wave outlook from the October 11, 2025 low remains constructive, unfolding as a five-wave impulsive structure. From that low, wave ((i)) advanced and concluded at $222, followed by a corrective pullback in wave ((ii)), which bottomed at $211.03, as illustrated in the 45-minute chart. Subsequently, the stock began nesting higher within wave ((iii)), suggesting a bullish continuation.

From wave ((ii)), wave i terminated at $223.32, and wave ii retraced to $216.52. A strong rally in wave iii reached $228.98, while wave iv produced a shallow dip to $225.54. The final leg, wave v, extended to $234, thereby completing wave (i) of a higher degree. The ensuing pullback in wave (ii) unfolded as a double three corrective structure, ending at $222.53. Within this sequence, wave w declined to $225.85, wave x rebounded to $230.45, and wave y completed the correction at $222.53. This marked the conclusion of wave (ii) in the higher degree count.

The stock then resumed its upward trajectory in wave (iii), reaching $255.55. A modest retracement in wave (iv) ended at $243.98, followed by a final push in wave (v) to $259, completing wave ((iii)). Currently, wave ((iv)) is in progress, correcting the cycle from the October 17 low. As long as the pivot at $222.53 remains intact, the pullback is expected to find support in the 3, 7, or 11 swing sequence, paving the way for further upside.