Netflix - Could it be nearing end of extended wave five?

In this post I am analyzing the weekly and then daily charts of Netflix . The analysis done in this chart is only one of the possible scenarios. However preposterous it may look, it meets all of Elliott wave rules and is therefore possible. The reason to present it here is that going forward extreme caution may be required to trade this stock. 

The following is the weekly chart starting Aug 2012. The main reasons that the counts presented on the chart is possible are

i) wave 3 is not the shortest

ii) Wave 4 doesn't overlap wave 2.

 

In the below daily chart the detailed possible counts are presented for this possible (not guaranteed though!!) extended wave 5 starting July 2016. 

It is also possible that Wave iii actually ended on 17 Apr 2018 (where (i) of v is shown at price level of 338.62. If so wave 5 may have completed on 21 Jun 2018 at 423.21.

 There is alternate possibility that what I am presenting as extended wave 5 is only wave 3 of larger degree count. That will become clear once correction happens. For now looking at the possibility of  extended wave 5 extreme caution is warranted.

 

Copper - Bullish short/ medium term

This post on Copper is coming after an earlier post on (17/1/2016), when it was anticipated that Copper is bottoming. There it was stipulated that the metal is undergoing correction since the lower top it made in April 2006. There is no change in this outlook. A correction can take any number of forms and hence very difficult to predict and put a count on. Still there are a couple of long term scenarios (in red and in  blue) I have marked on the chart below. Apart from this it is possible that instead of triangle it  may form undergo a flat, double flat or any other complex correction.

Coming to short/ medium term, below is the weekly chart. The upward trend in Copper seems to be intact. Here again there are numerous possible counts. The preferred count for now, assuming a zig-zag corrective pattern, is as shown on the chart.