All Eyes On Bezos:

When I noticed the XLY was on a five session winning streak today and approaching the top of a bullish ascending triangle, I knew AMZN had to be behaving itself. Of course we know it has been lagging, and if this sleeping giant is awakened it could really put a bid under all the major benchmarks. The overall consumer group has seen a lot of wild moves recently with the huge gyration in VNCE, GES is up a quick 20% following a 3 week tight pattern the weeks ending between 11/8-22, which all CLOSED very taut within just .10 of each other. Bullish action in some laggard IPOs like LEVI and CHWY, have chatter that froth is coming into the group. I still come back to the feeling of respect for the XLY which is trading right AT 52 week highs with AMZN still 12% off its own recent peak, and this group can really accelerate if the latter gets going. Perhaps it will be strong holiday sales that does the trick. 

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