NFLX Update

Today's move looks like a parabolic move and I never trust parabolic moves whether up or down as they tend to end the same way they started, just the opposite direction.

We do have some Put and equity short positions in NFLX and I'd be open to a put position on today's move if I though the set-up was strong and the risk low. I believe the probabilities are with NFLX pulling back down, but I don't quite yet believe this is a high probability/low risk trade set up.

Hopefully it gives us a better set of signals in to some better prices than what they currently are.

*This post is only dealing with the very near term, the longer term NFLX analysis has been posted numerous times recently and nothing has changed in it.

 On a 15 min chart you can see the parabolic nature of the move off a rounding base. We have momentum falling off at the red arrow (Shooting Star-like" candle.

I'd prefer to see some higher volume on a candle like that.

The 10 min chart shows no support or 3C confirmation for the move so I suspect it fails rather soon, hopefully before it does, it offers a higher probability / lower risk entry.

 The 5 min chart is not only NOT confirming the price move, but is leading negative divergent.

 The 1 min intraday chart has put in a turn to the downside after earlier confirmation, I'd like to see this a bit deeper of a divergence with price a bit higher.

And there's migration or strengthening of this negative divergence. Still for a high probability/low risk trade, I'd like to see some better reversal signals at higher prices. This isn't a matter of probabilities, it's a matter of a High probability/Low risk and well timed entrance; there is a difference.