Whilst the main market closed moderately higher, there was notable weakness in Netflix (NFLX), which settled lower by a rather significant -3.0% @ $90.97. If the main market can't break to the upside, and instead implodes, NFLX will decline to at least $70, with a secondary target of 50/45.
Suffice to add... great shows.. some of the finest TV ever produced.
NFLX is set to increase fees for some of its services, and that is a good thing, even if some of the customers leave.
However, market valuation remains insane, and even Mr Market is no longer tolerant of this once beloved momo stock.
*I would consider picking up in the $50s later this year, as I'm a fan of anything Marvel related.
Bullish the Defenders !