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Morning Matters:

Did The Chart Tell Us Anything About Netflix?
by Geoff Garbacz

July 17, 2018

Did the chart warn us that Netflix was about to drop 13%? Let's go to the chart courtesy of Erlanger Chart Room.

[Image 1]

We note that in this chart we are not looking at simple candlesticks. Instead we are looking at Heikin Ashi candlesticks. They turned red a couple days ago.

Next the Erlanger Volume Swing (EVS) turned down and crossed below its 20 day moving average (red line).

Third, the Erlanger Crossover Spread (EC Spread) turned down and is now negative.

However, the Displaced Moving Average which we use to track the bias on any period, in this case weekly, was still positive. So the signs were there of possible top.

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