When we look at the daily, it seems very positive. It is clearing the buy point $215 will target the pivot $224. However, when we look at the monthly, price is rising but RSI is still below the last highs. Watch how it will close by the end of the month.
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Netflix and SPX tend to move hand in hand with each other. When their patterns begin to separate, they correct relatively quickly. In this case, NFLX is setting up a bear wedge that, in this bull market, will fail to breakdown fully, but should bring the current NFLX price in line with SPX's chart, resulting in a 5-15% drop. Target 335, which coincides with both...