Sell At Your Own “Discretion”:
It is hard to leave out AMZN, when discussing the performance of the consumer discretionary group, although one still has to marvel at its current 10 week winning streak, and has advanced 15 of the last 16 weeks. Below is the chart of the XLY, and AMZN is the largest holding, and it carried the fund on its shoulders up 10.7% for the week. Four other top ten holdings fell this week, albeit the “largest” drop was TJX falling 1.3%. The best of the other 5 gainers was also mild with BKNG up 2.2%. In my opinion there is just one name from a technical standpoint that can be mentioned in the same sentence as AMZN, and that is LOW. It presently trades just 1% off all time highs, and is benefitting from a resurgent homebuilding space as the ITB added 4.4% this week. LOW has traded very taut overall since a precise bounce off the round 60 number on 3/19 and has more than doubled since. It broke above its February highs on 5/27, and retested the 2/20 highs before pushing upward once again. A move above 139 has room to 160.