October 16, 2018

Netflix is a short

The only thing that bothers me about my headline is CNBC’s Technical Analyst just went bearish on the air.

Our volatility model noted the buying going into the recent historical high was based on FOMC, not reason based.  Such emotional buying will not provide good support when a decline test the investor’s resolve.

From Contrary Thinker’s point of view, our True North and TD Sequential are on long-term sell signals and the bar chart is finishing a classic head and shoulders formation.


Prices are sitting on the low end of I-T support zone, a break of 317 would signal a continuation of panic selling.

The Technical Event Model provides a context for a dynamic decline at 4-2-1, leaving the S-T bottom the bulls are hoping for with the S-T panic selling vulnerable to continued dynamic decline over the intermediate and longer term.

The 207 to 237 support zone is a reasonable long-term target.

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