Consumer Angst:
Of course the XLY will live and die by AMZN, as it makes up one quarter of the ETF, but comparing it to the S&P 500 on the ratio chart below shows it has been lagging. Looking at its performance on a bit of a longer time frame it is just the eight best actor among the major S&P sectors on a one and six month time frame. And this softness is with the firm behavior within the homebuilder space. The casual diners have been a bit tough to swallow, pun intended, even before this volatility lower last week began, with the exception maybe of DPZ. YUM SHAK and QSR are a few that have been wobbly. Among footwear names ADDYY was already on a 5 week losing streak, before last weeks debacle, and CROX did it one better with a 6 week losing streak off by a combined 15%, before the coronavirus fears surfaced (do I even have to mention Under Armour). Not to be a Debbie Downer but others in the retail arena such as HAS OLLI PLCE and GPS are all off by 37, 49, 54 and 55% from their most recent 52 week highs respectively.