Amazon is on course to extend its six-day winning streak today; currently up 0.49% at around $106.35

Currently trading at $106.35, Amazon remains range-bound between $105.16 and $106.79.

United States EIA Short-Term Energy Outlook is next today at 16:00 UTC.

Chart analysis suggests Amazon broke through the $106.38 resistance, climbing 3 cents above it. Trend analysis indicates that Amazon made an initial breakout above its 200 day Simple Moving Average at $106.43, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $108.95, thereby suggesting that Amazon is becoming overvalued.

Overall, while Amazon has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

This rally in Amazon's share price coincides with other consumer discretionary stocks as Toyota is up 2.26%.

While Amazon is higher so far today, these consumer discretionary stocks are struggling: after closing the previous session (yesterday) at $83.31, Alibaba lost $1.61 and is trading around $81.7. Nike is down 1.38% from the beginning of the session and now trades around $125.13.

Also worthy of note, projections for United States Crude Oil Inventories are set for a continuation of decline with -1.6 million while previous data was -1.28 million; data will be released tomorrow at 14:30 UTC.

Furthermore, the market is looking at United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.

Amazon hit a significant low of $81.82 around 4 months ago, but has since recovered 29.34%.