Chart of the day

NFLX is testing the 620 level which is the strong resistance. A break above this level will mean that the short-term five waves are not finished and that we could see a new extension higher.

Only in the case of a break above 620, we can expect an upside continuation and an extension higher to test 700 possibly. I strongly believe that the whole stock market is reaching the top and that we will see a reversal here to test 500. For this to happen we need to see a break below 580.

_{You can open a short trade entry upon a break below 2030 with a stop loss just above 2130. Long trades you can open upon a confirmed break above 2140.}