Netflix $NFLX has been recovering in the second half of August, but this recovery is being faded, signaling that bears are still in control here for more correction in the short-term.Netflix Daily Chart(click to enlarge)More Correction Ahead:- We can see that Netflix had a great couple of years since mid-2016. - But then price formed a double top around $420, and has been in correction mode since then (mid-2018). - Now, price is still above the 200-day simple moving average (SMA), indicating that NFLX is still in a long-term uptrend. But this is not very important right now, because we are talking about the short-term. - Price action rebounded from around $310. But, the bounce was rejected at the 50-day SMA, and just below the neckline of the double top. - Furthermore, the daily RSI held below 60 for the most part and has been turning back down. This reflects maintenance of the bearish momentum in July into August. - We should anticipate a drag down towards $300 and the 200-day simple moving average (SMA) before expecting strong support. - A break below $300 on the other hand might open up another 0% in correction, towards $270, where we can see a common support.Pivot at $335:- At the moment, the bullish scenario can be saved if price rebounds aggressively from the $335 pivot and the daily RSI can stay above 40. - This would reflect resilience from the bulls and gives NFLX support to really test the double top neckline at $380. - To me, this is still within the context of choppiness/consolidation, but does has a slight bullish bias and could be an early bullish signal, though a weak one. - A break above $400 would be a stronger sign of a bullish continuation scenario, but traders will probably start building positions before that. Therefore, we might get some earlier bullish signals, a bounce off of $335 being a possible one.