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At the current pre-market price of 79.27, NFLX is down 41% from the ATH, as the price structure nears a significant technical inflection level in and around 75.00, which represents the Fibonacci 50% retracement-support level of the entire bull phase from the May 2022 low to the June 2025 high.Given the glaring positive Momentum divergences that have emerged during the last two weeks of trading (lower prices accompanied by higher Momentum readings), my preferred scenario argues for NFLX to pivot to the upside from the 75-80 Turn Window into a meaningful recovery rally that has its first challenge at 85.00-87.50.A CLOSE below 75.
I have been tracking Coinbase (COIN) closely in a public article series that I began in 2025. In my article dated May 2025, I was looking for an important top, which proved prescient.Coinbase investors would have done well to heed my warnings, as COIN lost nearly 70% of its value between its all-time high in June 2026 and its recent low. Since that article, my October and December updates have tracked the corrective machinations that follow an important top, when analysis becomes more nuanced and complex.
I am going to lay out what I seeing in the SPX/ES charts, and you can decide how it should be viewed. From the bullish side of the market, we have now completed 5 waves into today’s low. And, in the yellow count, this could complete a much more protracted yellow (b) wave, suggesting a (c) wave rally north of 7100SPX has begun. Moreover, the MACD on the 60-minute chart seems to have reset down to the region from which rallies have begun.
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