After today's move in US markets that took the NDX, COMP and SPX all below short term uptrends, it looks like there will be some opportunities to consider shorts in the near future at least. Much more needs to happen to even consider a long term top.
As for Netflix though, after an initial decline from the June high it rallied in to the 61.8 retrace of that decline, fairly common for counter trend rallies. In the middle of last week, price attempted to break out of a pennant but failed to do so with any kind of conviction and as of today's close, has reversed in the opposite direction to the downside.
I'm looking for a wave equality decline matching the June to August drop which target 285.
A move above the most recent highs would negate the bearish view.