Whilst the main market traded broadly flat - ahead of the Yellen, there was notable strength in Netflix (NFLX), which settled +2.2% @ $97.32. With an upgrade from William Blair to $145, today saw a clear technical upside break, next clear resistance is the giant psy' level of $100.
First.. the upgrade...
As for NFLX.... we have a clear short-term break above declining trend/resistance.
The $100 threshold will offer some very strong resistance - see bigger monthly chart. Considering underlying strength in the main market, it would seem NFLX will manage to break back above $100, giving clarity that the downward trend that stretches back to the Dec'2015 high of $133.27 has concluded.
NFLX continues to churn out some of the best shows. Yet, as a company, the valuation is frankly... ludicrous.
Yours... a fan of the shows... but not of any company with a forward PE >100.