AMZN is about to enter my preferred strike zone. The recent rally in big tech has been pretty strong, and Amazon has pulled back from nearly 287 all the way down. It's now approaching the daily EMA 21. My ideal entry range is still around 260–266. Besides the daily EMA 21, the area near 260 is also a key support level, as it’s the neckline of the previous double-bottom breakout. In the short term, Stoch RSI is already starting to reset downward, while MACD remains in a bullish structure—just with cooling momentum. So essentially, this is still a normal pullback after an extended rally. On the fundamentals side, there’s a potential catalyst that I think the market might start pricing in early: the Anthropic IPO. According to FT today, investors are betting Anthropic could go public as early as October, with discussions around a valuation exceeding $2T. Amazon isn’t just a major shareholder in Anthropic; AWS is also its primary cloud service provider and training partner. Their latest collaboration involves up to 5GW of compute power and over $100B in AWS tech investment over the next decade. If Anthropic successfully goes public and secures a high valuation, it could simultaneously drive revaluation of Amazon’s equity stake, AWS, and Trainium-related narratives. By the way, the Anthropic IPO isn’t just good news for Amazon. GOOG, AVGO, and NVDA are also direct beneficiaries. Anthropic has already signed multi-GW next-gen TPU compute agreements with Google and Broadcom, and Claude heavily relies on NVIDIA GPUs. Looking further ahead, there’s CRWV, NBIS, and AI compute/data center plays like IREN/CIFR that could benefit as well.