Bearish Double Top on Netflix

Unfortunately for NFLX             on the fundamentals side, they were ousted from Indonesia, which was a prime target for their international expansion endeavors, due to a failure to fulfill their censorship standards. Unfortunately for them, this simply adds to the list of bearish technical indicators despite 'buy' ratings from numerous sources.

First, note the bearish Aroon and ADX indicators indicate a solid down trajectory. Also note that the MACD has been bearish for some time now, since before the new year (2016) in fact. Note further the strong selling pressure via the OBV.

The optimal time to enter a short position? Wait for a short covering rally sometime in the next week following the massive dive from today, similar to what we saw in oil             earlier this week. It will look head for the Ichimoku cloud bound from above, but most likely turn sharply after a Heikin Ashi doji candle when the market ranges for a day or so.
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