Communication Services and the 50-day MA

I can see a bearish interpretation. This market is either turning lower from here and if so, it is going lower very soon. As in get your puts loaded now. Conversely, support is still holding on the indexes. ES and RTY are green. If the market turns higher, these will all break their 50-day MAs in the midst of a more powerful counter-trend rally.

Short-term, that horizonal on Netflix is a major resistance level.