Netflix, Impending Correction Or Crash Review!

Talk about going ballistic we have to look no further than this NFLX chart.  What Netflix is showing is more a diagonal move than an impulse move. Since the November 2018 bottom (Wave 3). Netflix created an expanded pattern which are more common than wave analysts give credit to. Our present day move has at least three open gaps which would not get closed until NFLX hits the $270 price level.  We could get another zigzag decline which could close that open gap we have back in January 2018. NFLX sure repelled from this gap, but there is still a small part of this gap open.  Ideally another new record low can happen, but we must be open to a bull trap before then.

I don’t have any  Gold/NFLX ratio database setup, but today we are sitting at a ratio of 3.81:1, which is only slightly cheaper then when NFLX was at $420 in June of 2018.

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