NFLX Details

Here is my previous post on NFLX, a very high level view of the collapse that is now very likely in progress.  Below is a zoom in showing the collapse down through the lower channel rail of that massive rising wedge.   This led to 5 waves down into blue 1.  I'm not convinced that blue 2 is done with only a 23.6 fib retracement but neither would I be interested in chasing it because what I have marked as red "a" could in fact be the whole a-b-c retracement.  If that is the case, the next wave down will be massive because that would be unusual weakness.  A lower low than blue 1 will likely come with some kind of rapid move down, perhaps even a large gap as wave 3 down begins to unfold.

Forget the marketing story about how NFLX will grow forever.  It has already peaked and the chart is the best evidence you have or need.  These wedges have the habit of retracing their entire length.  NFLX is an excellent candidate for a straight short for those who want to make money without time based leverage (AKA options).