1pm update - afternoon consolidation

The main indexes are continuing to hold the gains - whilst the smaller 5/15min cycles reset for a likely closing hour ramp. Metals remain weak, Gold -$9. Notable weakness in NFLX, in danger of breaking a particularly long duration up channel.


NFLX, daily

Dow'daily

Summary

We have a clear baby bull flag on the Dow daily chart...upside to the 16700s, with the monthly charts offering 16900/17100 this month.
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As for NFLX, a break <335 would break the channel, and open up a test of the 200 day MA, by mid Feb, which will then be around $290/300 - a natural support zone. So..there is 10% downside, not that I would ever short a momo stock.

Notable strength: DRYS and STX, both +3%