NFLX Closing Update

It's VERY hard not to put out an NFLX short idea right now.

The closing charts have deteriorated, the closing Daily Candlestick is a bearish Shooting star on a huge gap with huge volume, making the bearish reversal signal at least 300% more effective in my experience, not to mention the additional size of the gap as it is a Shooting Star candlestick or as the Japanese call it, "Trouble Overhead" as that long upper wick represents higher prices that were rejected, right in line with churning-based distribution.

 Daily closing chart for NFLX, a textbook "Shooting Star" (bearish reversal) and the increased and indeed extra heavy volume just makes that candlestick's bias that much more effective as we have seen time and time again.


The 5 min chart needs no interpretation, especially in to these gaps of the last several days, however what is interesting...

The 15 min chart is already technically leading negative. I'd like to see it SCREAMING or jumping off the chart, but I suspect that we are very close to that signal with the way things are moving.