Sin City:
When a group of stocks rises in unison, some advance more powerfully than others. This is how alpha is created by superior stock pickers. A technician leaves the reasoning behind it to others to look for possible fundamental reasons. But the bottom line if a particular name is left lagging, there is usually a reason for it, and it is often found out later on. Let us take a look at the gaming plays today. On a YTD basis CZR MGM and WYNN are higher between 17-26%, while LVS is still grappling with a single digit return. Each one of their charts has a bullish slant to it, and some investors believe in the catch up theory. I do not subscribe to it, as a salty investor once said, “if you are trying to win a pennant, put your best players (stock leaders) on the field instead of the back up (laggards)”. PRICE action dictates my trading, and LVS might be trying to make a stand here. The obvious critical level is the round 60 number, the scene of a double bottom breakout. The area was pesky resistance last November through the beginning of 2021. It most likely is now support.