NFLX is at sub 4 going onto sub 5.... Large trend is the wave 2 going onto 3... You are correct either way. However, EW has got us started as in identifying the trend direction. Long and short both down. See Below: stockcharts.com/c-sc/sc?s=NFLX&p=D&yr=1&mn=5&dy=0&i=p22676703014&a=533912031&r=1499827194643