NFLX update October 3

NFLX: another runner today in an otherwise down market. We’re split between two counts: either major 5 of Primary III is ongoing (first chart) or all of primary V is on going (2nd chart). The latter makes sense from a nice elliot wave channel perspective. Regardless, both counts point for now to $142-$157 as a top area. From current levels that is >40% upside left. Note that the bollinger bands on the daily chart are expanding. Price has strength, and all TIs -also the weekly!- are pointing up wanting to see higher prices going forward short and intermediate term.

nflx

 

nflx2