So after having kept an eye on it all day, I still wouldn't say this is a short entry, but there has been deterioration which can be seen the price's ROC alone, but beyond that...
It would seem to me this strength is being sold in to. However to make this a short, I want to see that these charts are reflecting massive distribution, that doesn't take too long to get to from a 5 min chart going negative in a single day, but until it does, I'd say don't try to average it, not until there's excellent probabilities for doing so. So far there are pretty decent probabilities based on a single day's trade, but let the chart get to the point where it can't be ignored any longer.
There's a high probability that even though NFLX has a better relative performance than the overall market, when the overall market is ready to pivot down, NFLX will feel the pull.
No comments:
Post a Comment