Solid session for Amazon generates 0.95% gain yesterday

The US stock market is closed for the Good Friday holiday and resumes Monday. Meanwhile, here is a recap of yesterday: Amazon ended Wednesday at $101.1. yesterday it went up to $102.38 only to drop back, yet still managed to close at $102.06.

Amazon's uptick comes amid disappointing United States macroeconomic data released during the session – United States Initial Jobless Claims fell short of the 200,000 projections, with new data of 228,000.

At the same time, United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.38 trillion, while the previous figure was 3.40 trillion. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.63 trillion, while the previous figure was 8.71 trillion.

Amazon made an initial breakout above its 10 day Simple Moving Average at $100.51, a potential indicator of a newly emerging bullish phase. On the other hand, note that Amazon could be slowing down soon; it is getting close to the resistance line and is now at $103.03, only 97 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Examining the technical analysis landscape, Amazon might continue its downtrend in the short term.

A look at other consumer discretionary stocks also showed bullish price action as Alibaba traded at $102.74 after closing yesterday's trading day at $98.55 (up 4.25%). McDonald's gained 0.31%, as it traded at $282.89.

While Amazon was bullish yesterday, the following consumer discretionary stocks underperformed: Toyota closed at $138.87 (down 1.1%).

Also worthy of note, today at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 239,000 from the preceding figure of 311,000.

The market is looking forward to the release of new data: United States Unemployment Rate is expected today at 12:30 UTC.

After hitting an important low of $81.82 approximately 3 months ago, the tech and retail multifaceted giant has bounced back 23.56% since.