Retail Ringleaders:
I know many market participants generally like to look at the XLP:XLY (staples over discretionary) ratio chart, but I prefer to watch the XRT, a much more diverse retail ETF. Both ratio charts have value, but I come across impressed with the XRT showing a lot more consumer names are doing well other than Amazon. BURL shrugged off a bad tape Monday, NKE continues to trade well ABOVE the very round par number, and LULU has recovered most of its recent earnings softness. Hotels have been behaving very bullishly, select gambling charts look very attractive, and some casual diners have strong showings in 2019 (although CMG is approaching levels which recorded big WEEKLY selloffs of 5.8 and 6.4% the weeks ending 9/13 and 10/15, both of which were accompanied by the largest WEEKLY volume in the last 5 months). Look and one shall find the opportunities. And if AMZN does truly join the party this whole group will jump powerfully higher. It did complete a bearish evening star pattern, but those are more effective near highs, and it currently trades 9% off its most recent 52 week highs.