Tag: NETFLIX

NFLX update

last post on NFLX: https://bartscharts.com/2021/12/13/nflx-3/

in that post we did some “basic” work using EWT going w/ Wave 1 = Wave 5 and some “basic” retracement work. as you can see below there was a LOT of math and geometry coming into this level … fundamental frequencies, square root targets, geometry, extensions, etc. all made this an “interesting” area for sure.

where are we NFLX?

if you go back to a couple posts of NFLX you will see that I called it a “chart of the year” because of the very “ray charles” like count of 1,2,3,4,5. we blew thru the target zone by 3-4% probably because my ego got the better of me in coming up w/ that title (digression complete) but either way, we completed 5 waves up into 700 … and we just completed 5 waves down.

what is so important about that?

5 waves either complete a corrective C wave (they are ALWAYS 5 waves) and now we bounce OR they could show a change in trend. certainly believe it’s way too early to be calling for a change in trend for NFLX but our thesis, for now, is the 700 level was a potential big top. so, w/ 5 waves down we need to pay attention.

anyway, our targeted zone held as support (note there are at least 9 different methods showing this to be a good zone of support) and it appears our rally is on … from an Elliott perspective, a guideline (NOT a rule) is that a counter rally will go to the vicinity of the previous 4th wave of a lesser degree and we can see a LOT of math coming together in that zone/area. I do believe that area will work as resistance but I “expect” that the higher target will ultimately be the rally point as this entire NFLX bull run has had a lot of momentum …

so, for now, let’s see how this PATTERN plays out and watch the 625-630 area and also 650-660 for now …

note the fundamental frequency and square root targets
geometry and extensions
two zones to watch for now .. would like to see an ‘a-b-c’ type of EWT rally into one of these zones …somewhat in ‘no-mans-land’ right now …

also, note below, that Palladium also hit the target zone and found support …

Palladium rallies .. so does tech … so watch a potential really in Palladium also …!

bottom line – this rally “makes sense” and the math worked … so now, we WAIT and look to put a short on NFLX in the coming days or weeks.

thanks for reading and rock on, ok?

also, got a 4/3 wetsuit today … it’s just got plain cold in the Pacific and with a long period swell and a favorable tide, I could stay out there ALL DAY but cold got the better of me …

get some!

NFLX

post on NFLX: https://bartscharts.com/2021/10/19/chart-of-the-year/

the target zone ID’d in the post above missed the target by 5% but has been selling off the past few weeks …

a VERY clear 5 wave count is present so I’ve done my best as providing some “guidelines” to formulate a gameplan.

the “thesis” is that we have completed 5 waves up on NFLX and are correcting based on that move …

a lot of times, not always, 5=1 and that comes in around 580 .. .we would like to see that hold and bounce up in 3 waves to prepare for a short … so, hold your powder dry and I expect, in a few weeks, it might be time to put your toe in …

Chart of the Year …

there was and still is (for those who have the PRIVILEGE to do it) something so amazing about the feeling of going BONS (Boots On Non Skid) of a US Naval Aircraft Carrier.

it wasn’t a ‘bravado” thing as people would believe from the characterization of Naval Aviators but – for me – it was simply amazing. being on the flight deck as engines were turning, the ship was moving and everyone from 18-50 (?) was moving in elegant and frictionless dance .. it was that amazing.

and when you walked up to your jet and there was an AMAZING YOUNG SAILOR (note no identity needed because WE DID NOT CARE) told you your jet was ready you simply took it as fact .. how cool?

so you would jump into the jet and get this multi-million dollar tax payer funded rocket ship ready for the catapult shot and – I believe EVERYONE – asked themselves before Mr. Toad’s Wild Ride “have I done enough to manage the risk” and “yes” was always the answer and for me … BOOM I shot off the pointy end of American Diplomacy. What an amazing privilege and honor.

what does this have to do w/ NFLX? EVERYTHING ….

folks, we have an near perfect AB=CD, a 1.618 extension into the target zone … and, at least for me, an Elliott Wave count that breaks NO rules is present on multiple degrees …

maybe it’s time to PUT your money where your mouth is Bart when we reach the 650-660 area?

chart of the year folks …

xoxox – Bart

NFLX

I have done another 4-5 charts on NFLX w/ varying counts and corrections – the problem (and this is what sucks about Elliott) is they all “might” be right … but, they are CORRECTIONS in an ongoing BULL market so I’m going to just leave this stair step chart up and then leave the rest of the charts off the blog for now … believe we won’t miss out (FOMO) but we need another week or so to see where this puppy is going …

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