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Scott Redler: Netflix Puts on a Great Show, Let’s Keep Watching

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On Monday, I said Netflix (NFLX) is one to watch now, and that "To keep its 'go to' status, it has to reclaim $390.55 in a sea of red."

It's been choppy lately, but reclaimed that level and stairstepped with higher lows each day this week:

It was on the stronger side this morning and is very tight.

The stock hit a high of $405.60 to put me in trim & trail mode on my long.

Even if you don't trade NFLX, watch it because it can give clues on what's next for tech and the markets overall. We've been able to buy vs. support but not add higher. 

If NFLX can stay above $400, perhaps it opens the door up for more momentum.