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US Market Technicals Ahead (18 October – 22 October 2021)Better than expected Q3 earnings reports from major banks powered global stock indexes to a winning week with most banks beat significantly on the top and bottom line. The earnings season continues this week, with companies such as IBM ($IBM) , Netflix ($NFLX), Tesla ($TSLA), Intel ($INTC), Johnson & Johnson ($JNJ) and P&G ($PG) reporting their results. Elsewhere, figures on Q3 China economic growth (GDP) today will show the impact of multiple recent hits to the world’s second largest economy. The forecast is projected at 5 percent in the three months to September, slower than the second quarter’s 7.9 percent, amid pressures on factories from power shortages, supply bottlenecks and a resurgence of domestic COVID-19 cases. Meanwhile, the first bitcoin futures ETF is set to begin trading, propelling the digital currency closer to all-time highs. Here’s what you need to know to start your week. Market Technicals $SPX (S&P 500) U.S. stocks were higher as $SPX posted its largest weekly percentage gain since July, after major banks rounded out a strong start to Q3 earnings, though investors will stay on the lookout in the coming weeks for signs of impacts from supply chain disruptions and higher costs, especially for energy. The benchmark index $SPX rallied +1.82% (+80.03 points), closing the week at 4,471 level. $SPX have broken out of all major moving averages (notably its 20D and 50D MA) on the final day of the the week, a second follow through price action after an imminent intraday reversal on Wednesday session. The immediate support to watch for $SPX this week is at 4,320 higher low support level, potentially re-establishing its mid-term uptrend channel. Earnings Dozens of companies will be reporting in the coming week, including Tesla ($TSLA), Intel ($INTC) and Johnson & Johnson ($JNJ), as the first major wave of third quarter earnings results gets underway. On Thursday Netflix ($NFLX) kicks off third quarter reporting for the ‘FAANG’ group of U.S. tech giants Facebook ($FB), Apple ($AAPL), Amazon ($AMZN), Netflix and Google-parent Alphabet ($GOOGL). The video streaming company said “Squid Game” has become its biggest series launch ever and Bloomberg reported that the megahit will create almost $900 million in value for Netflix. Chinese GDP In recent months the Chinese economy has taken a series of blows from the Evergrande-induced property market crisis, outbreaks of the delta variant, an energy crunch, supply bottlenecks and soaring commodity prices. So, investors will be closely watching Monday’s Q3 GDP, which will be released alongside figures on factory production and retail sales. Economists are expecting growth in the world’s number two economy to have slowed to 5.2% year-on-year, the slowest in a year, from 7.9% in the previous quarter. China’s real estate sector, a key driver of growth, is reeling from rising defaults, with sales tumbling and construction slowing as Evergrande, once China’s top-selling developer, battles against default on more than $300 billion in debts. Bitcoin futures ETF The first U.S.-listed bitcoin futures ETFs are set to launch in the coming week, barring a last-minute objection from the Securities and Exchange Commission. The ProShares Bitcoin Exchange Traded Fund is scheduled to start trading on the New York Stock Exchange on Tuesday. A day later, the Invesco Bitcoin Strategy ETF, would also be allowed to launch unless the SEC blocks it. The ETFs will be based on bitcoin futures that already trade on the Chicago Mercantile Exchange rather than the cryptocurrency itself amid regulatory concerns over a potential lack of liquidity and the risk of price manipulation on spot exchanges. The launch of the ETFs could pave the way for a stream of similar products, potentially fueling a run higher for the world’s largest digital currency which hit peaks of $62,892 on Friday, not far from its all-time highs of $64,778
SP:SPXLong
by jfsrevg
$NFLXShares of Netflix (NASDAQ:NFLX) were up 4.8% as of 1:14 p.m EDT on Tuesday. The streaming media veteran saw a bullish earnings preview from analyst firm Cowen & Co., which included rosy results from Cowen's proprietary media viewership survey In a third-quarter survey of 2,500 U.S. consumers, Cowen asked which media platform has the best video content right now. Netflix led the pack with 28% of the vote, far ahead of YouTube's second-place tally of 15% and basic cable's third-place showing at 10%. The "other" category, which includes social networks and various smaller video publishing platforms, added up to 13% of the vote. Netflix was also found to be the leading service that consumers use most often for viewing videos, ahead of "other" platforms and basic cable. This figure rose to 33% when zooming in on the important age group of 18- to 34-year-olds. The stock reached another all-time high today, having posted a market-beating gain of 11% in the last three months. Whether Netflix meets or misses Wall Street's expectations on Oct. 19, the stock is primed to make a big move on the news. Either way, Netflix remains one of my favorite stocks in the digital media space. On the technical side of things Netflix is looking extremely bullish on the higher frames. Breaking above previous resistance with a continuation up, I can’t see why this wouldn’t stop here. It’s a little on the overbought side of things on the daily chart so could see slight pullbacks but overall should continue it’s way up. MACD bullish. RSI overbought. Next point. $700 Watchlist this.
NASDAQ:NFLXLong
by TheBlankFund
The Squid Game Shows Why Most People Don’t Make Money TradingSquid game is the hottest series on Netflix ($NFLX) right now, in which 456 players join a game of death, where they have a chance to win 456 Billion Korean Won (KRW), or 38.5 Milllion US Dollars. What’s interesting about this series is that it depicts human sentiment in a very realistic way. We could see how market participants think and act by looking at the participants of the squid game. A random guy appears at the subway station, and offers to play card flip, where he’d slap the player if he wins, and pay $100 if he loses. He actually ends up paying the players, stimulating their curiosity. Later, players are taken to a remote island where they have no clue what game they’re playing, with hopes of potentially winning life-changing money. Beginners Luck turns to Attribution Bias People who join the stock market are not different. They don’t know what game they’re playing, and what rules there are. Just as the subway guy invokes curiosity from the players by paying them small amounts of actual money, people are dragged into the stock market through stories of their friends and acquaintances making life-changing money by trading. You try to remember the name of the stock or cryptocurrency your friend mentioned, and buy it without doing any due dilligence. You participate in the game of the market with 0 understanding of the game and rules. When the stock/crypto you bought goes up (by chance), you fall into the trap of beginner’s luck. Beginner’s luck refers to a phenomenon or situation in which a beginner experiences a disproportionate ferquency of success against even experts in a certain field or activity. It’s often used in gambling and sports. But beginner’s luck leads to overconfidence and attribution bias. Overconfidence refers to one’s excessive trust in his decisions based on gut-feeling and his cognitive abilities. This often leads to overtrading, and the market participant ends up paying excessive trading fees. Overconfident traders also tend to neglect statistics, and put all their eggs in one basket. They hardly listen to other people, and tend to choose the stocks/crypto they invest in themselves. Attribution bias, or cognitive bias, is when people find reasons for their own and others’ behaviors. So when they’re in profit, they think that it’s all thanks to their amazing prediction. When they’re at a loss, it’s because the market was in an unfavorable situation, or simply because they were unlucky. Essentially, they constantly come up with excuses for every situation. We all know Isaac Newton as a genius physicist, but he was a failure as an investor. He made the wrong investment decision when he invested in South Sea stocks, which led him to lose 20,000 pounds (about $4M today). He lost most of his life savings and famously said that “you can calculate the motions of heavenly stars, but not the madness of people” - a classic example of someone with attribution bias. Mob Psychology and the Bandwagon Effect This is accurately reflected in Squid Game. When players play ‘Red Light Green Light’, they are shocked to see other players get massacred. After the game is over, they later vote whether they want to continue playing the game or not. The surviving players fall into the trap of overconfidence and attribution bias. Only 1 person out or 456 will survive and win the prize money. Statistically, every player has a 0.22% chance of survival. While this is statistically low, they’re taken away by the pile of cash hanging from the ceiling, and start believing that they’re special, and that they can win. Lotteries and gambling work in the same way, in which people bet on a probable case that is close to impossible. Sadly, most people approach trading like gambling. In Squid Game, right before they play tug of war, a riot breaks out, and players are split into different factions. So when they’re told to team up for tug of war, teams are formed based on the factions that were formed the day before. This shows us mob psychology and the bandwagon effect. Mob psychology, or mob mentaility, is when people follow the actions and behaviors of their peers when in large groups. The bandwagon effect falls within the scope of mob mentaility, and is a phenomenon in which people do something primarily because others are doing it , regardless of their own beliefs. The same psychological phenomena can be applied to investors and traders in the market. Instead of trading based on their own trading rules, strategies, and analyses, they simply follow the actions of other market participants. These are the people who end up panic buying or selling, and falling victim to pump and dump schemes. Conclusion These psychological phenomena prevents us from making the right decisions in the market, and making the wrong decisions indicates that we lose money. Just like how most people in the Squid Game end up dying, there are many other people who entered the market with dreams of becoming a millionaire, only to lose everything. But unlike the Squid Game, the financial markets isn’t a winner-takes-all. If you can understand the characteristics and rules of each market, and do your due diligence on different ways to beat the market, you can have a statistical edge. As a trader, I would say that technical knowledge accounts to less than 5% of what it takes to be successful. It’s more about understanding your cognitive bias and controlling your emotions and psychological state. If you like this educational post, please make sure to like, and follow for more quality content! If you have any questions or comments, feel free to comment below! :)
NASDAQ:NFLXEducation
by Michael_Wang_Official
260
ROKUIF QQQ can comply and move forward higher ROKU can explode Even with weakness though i believe the main leaders in tech currently would be ROKU / NFLX .. NFLX does have upcoming ER so this could be reason as to why it's strong going into the new month while QQQ has been shaky and moving towards the downside. Expect ROKU and NFLX to continue with great strength and surprise. IF Roku gets above 340 this opens the door to 370-420 range. Monthly iTM calls could pay NICELY if we catch some steam on this one LIS 316
NASDAQ:ROKULong
by tslatrades
Netflix Investment Outlook Assets move in 5 and 3's (Elliot wave simplified). From the macro view, it appears that we are in our 4th wave, and we have 1 more wave up to go. The leg of our bull pennant at minimum gives us a target of $681, which is confluent with the 1.146 fib. If the stock market melts up and Netflix impulses, the Price target will be significantly higher! Based on our Indicators, If the case is indeed bullish, we will bounce off the wolfpack baseline, and start another green streak. This leaves room for the RSI to go overbought one last time! Overall, the chart is bullish, and a position should be taken once the breakout is confirmed. If a stock market crash was to occur, utilize the EMA's and support lines for positioning. The TA is overall optimistically favoring the long side!
NASDAQ:NFLX
by ILuminosity
NFLX ShortEntry price: 610-615$ Target price: 575-580$ Stop loss: 620-625$ Bollinger Bands: The price is approaching the upper band. RSI: Indicator is approaching 70 level, therefore the market is near to be overbought. Fibonacci Retracement: The price is approaching the resistance level (Fib 1.618 level). Conclusions: Bollinger Bands and RSI suggest the trend reversal in the near future. Moreover, the price is approaching Fib resistance level, thus the short position is recommended with the stop loss above Fib 1.618 level. No financial advice.
NASDAQ:NFLXShort
by vf_investment
1
Decision Aproved 100% to BUY NFLX.After aproving its second retest in the range of 591,42 NFLX stock are preparing its breakout for the next signe of a storng buying and long position. Now the situation is ready. What should we do? As you're seeing on the chart the market is clearly above the VWAP Indicator, and we are surly protected as well as we are above it. The target we will use going to be partial. How ? First I recomend you to wait untill the candels try to breakout the VWAP linge taking road to the dip with a high bullish volume and with a strong shootingstar candlestick, this will be a signe to prepare to sell your first small quanties hoping to be just a retest on the VWAP linge in order to double your position if it takes road to the moon. But if it breaks it whit a strong bear candle, it's the time to take your total Profits. Thanks for reading! Please share your thoughts or idea in the comments relative to NFLX .
NASDAQ:NFLXLong
by med-lebada
NFLX LONG Bullish trend of Netflix, started in April 2020, seems to continue after the breakout of the channel formed in the last months. RSI shows us that is not overbought or oversold and ADX is above 40 indicating a very strong trend. Entry price would be close to previous support formed after breakout. Moreover, support coincides with 50 % Fibonacci suggesting a probably inversion of retracement formed in these days. BUY ENTRY: $ 566.84 TAKE PROFIT: $ 614.21 TAKE PROFIT 2: $ 668.84 STOP LOSS $ 539.91 __________________________ NOT FINANCIAL ADVICE
NASDAQ:NFLXLong
by vf_investment
NETFLIX Can Fall : Pattern CompletedTraders, Netflix made a great run and never gave a a chance to short beyond our sell level. (See the attached previous analysis idea). Now Netflix has gone out of the range to 1. Collect stop losses hence create a bull trap 2. Complete a W pattern 3. Touch 600 psychological level which was missed last time This not has a potential to fall to target below (white horizontal lines) Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
NASDAQ:NFLXShort
by vikinsa
The setup on NFLX is 100% ready. Full Explanation.In a previous post, we explained that we were waiting for a retest to develop setups after the breakout of the current range. You can check all the processes on related ideas. Now the situation is ready. How will we proceed from here? The setup execution is pretty straightforward; we will open bullish setups on a new ATH and define our stop loss below the current correction. We don't know yet how deep the correction will be, but we will keep moving the stop loss until we think this is no longer a correction but an evident bearish impulse. The target we will be using at the moment is the Fibo Extensions of the whole range that was broken. Final Target: 772 The Risk rewards ratio we can expect on a setup like this is about 2 (however most of the cases in the past, the price goes far beyond that) It's important to say that this setup after the breakout of a range on an ATH we have tested since the beginning of the NFLX chart, and our conclusions showed us that is a profitable pattern to trade. Why are we saying this? Because we have seen that sometimes the price executes the order, then goes directly to the stop loss, and the next movement is the beginning of the impulse. Based on that, we are willing to trade the same situation two consecutive times if the first pattern fails. We will be risking 1.5% of our capital on this setup. The expected duration of the movement can go between 150 days to 250 days. (Patience patience, my friend) Thanks for reading! Please share your thoughts or idea in the comments relative to NFLX.
NASDAQ:NFLXLong
by ThinkingAntsOk
3