- ZETA’s 120-day correlation with software ETF IGV is near 0.7; the author expects an IGV pullback to drag ZETA lower despite strong fundamentals.
- Author sees IGV beginning wave C toward its 0.5 Fibonacci level, implying roughly 42% downside; similar corrective setups appear in PLTR, NOW and peers.
- ZETA rejected the $34–$38 2024-high resistance zone, broke a rising wedge and shows bearish RSI divergence; overlapping price action argues against a wave-3 impulse.
- The author is waiting for a likely new low at $7.92 or the low $10s before a projected move to $41.96; a break above $38 would alter the correction count.
Investment pitches
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82 65 - NFLX is in the author’s wave (2) correction above the 0.618 Fib; a five-wave decline supports a 5-3-5 zigzag and three-wave wave-B bounce.
- Bullish RSI divergence—lower price lows but higher RSI lows—suggests sellers are losing force, though this is a technical trade, not a fundamental thesis.
- Author plans to buy a 0.618 bounce with rising volume, a reclaim of the 200WMA near $74, or possibly the smaller wave b.
- The trade is invalidated if 0.618 breaks and rejects on retest. The author expects a wave-C low near 0.786 before considering a long-term position, with a stated 460% wave-3 target.