Major indices are moving up today.
However, we are seeing a possible retracement on NFLX.
On the 5 minute chart, a letter ‘h’ is forming again; similar to the one on July 29.
The only difference is this time the kumo resistance is nearer (even on the 5 minute chart) and it is fairly thick which suggest heavy resistance ahead.
A break below 101.70 could see the beginning of a drop again for NFLX.
