Slow start to the session for Amazon as it idles around $90.86

Amazon trades at $90.86, after ending Friday at $90.73.

Uncertainty around Amazon is reflected by published market data as United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Amazon's upper Bollinger Band® is at $100.63 and the lower is $89.14. As the day gets underway, chart analysis suggests Amazon bounced after reaching the $88.19 support zone, climbing $2.67 above it.

Overall, technical indicators suggest Amazon has no obvious direction for the immediate future.

Meanwhile, mixed performances are seen in other consumer discretionary stocks as after closing the previous session (Friday) at $93.57, Walt Disney lost $1.65 and is trading around $91.92. McDonald's added 1.22% to its value, now trading at $265.24. Pinduoduo is trading at $89.16 after ending Friday's session at $85.73 (up 4%).

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.5%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC.

Pointing downwards for around a month. The tech and retail multifaceted giant traded as high as $169.31 before shedding 33.51% lower over the past six months.