March 16th, 2015: NFLX and TSLA Wave Count Updated
Posted by pugsma on March 16, 2015
5:50 pm EST: Both NFLX and TSLA look like their respective moves up have topped and are set-up for long-term (1-year +) down trend. NFLX topped at 186.50 and should correct down to about 251 in a 50% retract for Cycle 2. TLSA topped at 291.41 and looks like it completed a leading diagonal for major [A]-P2 at 185.00 and is now in a major [B]-P2 bounce to a 50% retrace to 238.21 before a larger major [C]-P2 correction down to the 62% retrace at 121.28. NFLX and TSLA will be likely remain in a down trend while the SP-500 completes its Cycle 2 wave lower over the next year or two.
NFLX weekly chart (EOD):
TSLA weekly chart (EOD):
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