25Aug10:31 amEST

The Narcos Rally

Netflix is enjoying another enthusiastic open this morning after an upgrade. For a few weeks now, NFLX has seen a pattern of strong opens followed by lackluster afternoon action. So, I am looking to see if the marquee issue can clear the prior $97.75 resistance level with authority today, amid the plethora of usual cheerleading in the name. 

While the second season of Narcos, available next week, is exciting, the stock remains stuck below a declining 200-day moving average with the burden of proof on bulls to reverse the name back higher.

Speaking of South/Latin America, though, the Brazilian sugar play CZZ remains firm on all timeframes.

On the updated daily chart, below, there is not much to quibble with from a technical standpoint. We have a soundly bullish chart, and if sugar keep rallying I expect Cosan to keep benefitting.  

Stock Market Recap 08/24/16 ... Hey Jude, Don't Bring Me Dow...


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