NFLX Bounce

While I'm not interested in this trade as the core NFLX short positions are at a gain of +14 and +25% (two entries), some may be interested in it as a long or as an eventual short entry/add to position which I would consider.

The larger NFLX picture is not being addressed in this update, but as I said, I'm leaving both NFLX core shorts open.

Near term after a big gao down and a dead cat bounce we expected, it looks like a near term, short term bounce is very likely in NFLX... I would guess $385 is a reasonable upside target.

 30 min chart's positive that led to the bounce we were expecting and a negative divegrence at the top sending NFLX lower. This chart is still in line negative so for core shorts, it looks great.

 The 10 min shows a head fake move JUST BEFORE the downside reversal, after stage 3 distribution on the gap down bounce was already in place, timing-head fake move. However note the current positive as well to the far right.

 The 5 min chart is my minimum divergence for most positions/trades, this looks like at least a swing/bounce, after that I suspect it moves to a new lower low, I'll be watching for that pivot for those interested in an add-to trade.

And the shorter term 3 min timing chart is positive as well. I'd guess NFLX is very close to a bounce, again likely around the $385 area judging by the divergence size/base.