NFLX Update: Proxy Stock Leading Equity Rally into Nov. 11 – 15; ‘Danger Period’ to Follow… How Does Current Action Reinforce Outlook into March 2020?
11/06/19 Weekly Re-Lay Alert: “One of the leading stock market ‘proxies’ – a stock that has provided uncanny (leading) signals throughout 2018 & 2019 – is again making its presence known. NFLX adhered to expectations described in Aug./Sept. ’19 (projecting a bounce into mid-Sept. before a drop to new lows) – fulfilling the HCP diagram reprinted at the top of this page – and has since been in recovery mode. But that could soon culminate…
NFLX is approaching the latest phase of a 9 – 10 week high-high-high-(high) Cycle Progression – the midpoint of the 18 – 19 week Cycle Progression reiterated in Aug./Sept. ’19.
That 9 – 10 week cycle has also created an offset or overlapping 18 – 19 week cycle that has timed mainly secondary highs & lows (between the cycles illustrated in the accompanying diagram). Most recently, that has created an 18 – 19-week low (11/02/18) – low (03/08/19) – high (7/12/19) – high (Nov. 8 – 22, 2019) Cycle Progression.
Corroborating those weekly Cycle Progressions, NFLX also has a 60-day high (July 9) – high (Sept. 9) – high (Nov. 9) Cycle Progressions and a 23-day low (Sept. 24) – high (Oct. 17) – high (Nov. 9) Cycle Progression – both coming together and producing the greatest synergy of daily & weekly cycles on Nov. 8/11.
A peak on Nov. 8/11 would also complete a .618 rebound in time with NFLX declining for 75 -77 days down (July 9 – 11 down to Sept. 24) & then rebounding for 46 – 48 days (.618 x 75 – 77).
This time, that dovetails perfectly with the ongoing outlook for Stock Indexes to complete their 8 – 10 week rallies on Nov. 1 – 15 (5 – 12), 2019.
If NFLX validates this latest cycle, and sets its intraday or daily close high on Nov. 8/11, it would reinforce an intriguing web of cycles aligning in March 2020. [reserved for subscribers].”
NFLX continues to act as uncanny proxy for overall stock market, usually leading decisive turning points in equities. NFLX cycles reinforce overall stock market outlook for rally into Nov. 11 – 15 followed by initial sell-off into early-Dec. Upside price targets – in NFLX and in primary equity indexes – should be tested by/on Nov. 8/11 and set stage for reversal lower before mid-month. How Much Lower is NFLX’ Ultimate Downside Target?
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.