MisterLomez
Long

$NFLX Cup and Handle UPDATE

NASDAQ:NFLX   NETFLIX INC
After a failed breakout of the primary C & H pattern yesterday and a fade today, $NFLX bounced off $443 late day and continued up again into the close, perhaps anticipating a retest of of that heavy top around $455 later in the week.

What today's price action also put together was a double C & H pattern, that is almost an exact time/scale mirror of the pattern it's embedded in. Importantly, and what makes me hopeful this isn't just noise, is that the bounce point today (the lower end of the smaller handle) was both the ceiling for the post earnings gap down and also the .618 retrace of the climb from $420 that began last week.

Wishful thinking or is this pattern still screaming for a breakout?
I struggle to call this a C & H - simply because of the period between the peaks. I am not saying the pattern will not rise - but I believe we have a technical pullback into 376ish - then I would buy for a rise with a stop below low in case it turns ugly.
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