For months now, I have been harping on about the consolidation we’ve been seeing in Netflix (NFLX) – Get Report and other FAANG holdings.
But we’ve started to see those consolidation phases resolve to the upside.
Specifically, Microsoft (MSFT) – Get Report has made a nice move to new highs. Apple (AAPL) – Get Report has been trading better, as has Amazon (AMZN) – Get Report.
Nvidia (NVDA) – Get Report – while not in the FAANG group – also made a nice move to new all-time highs.
So the question now is whether Netflix can join the party. The stock has given us mixed signals, trying to rotate higher but clearly hesitating ahead of earnings scheduled for Tuesday after the close of trading. Read more…..
Chart of the Day
Icarus TV
The inflation debate is heating up after Friday’s hotter than expected PPI report. Now some are comparing today’s economy to what happened in the 1970s. CNBC’s Steve Liesman reports.
