NFLX, NKE Update February 8, 2016

NFLX: wallstreet’s darling is being sold off like there’s no more streaming TV left. Good support in $75-$78 area. If it doesn’t hold then $70 is next to close the April 2015 gap. Trade below the major 1 high made in March 2014 will mean all of Cycle 1 is in. That simple.

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NKE: Needs one more primary wave up to complete V up. Major c should target anywhere between $52.5 and $45.50 depending on which Fib-extension the market will chose, and which is impossible to predict before hand exactly. For now it’s down, and down hard.

nke