Netflix: Watch It

A quick glance at NFLX’s daily chart shows it has significant additional downside potential. The most obvious downside target is the 100-DMA at 338.73.  But, the 200-DMA is approaching the white channel midline and should cross it at around 298-300 on or about August 6.  It makes for a nice downside target if the SMA100 … continue reading →

The Art of Hat Holding

One nice thing about patterns is that they give you something to hang your hat on.  When we drew the Inverted Head & Shoulders Pattern on Jul 3 [see: Holiday Headfake] there was nothing in the news to suggest a 100-pt rally in the ensuing week. Yet, SPX and ES landed within a point or … continue reading →