Communication Services Winner:
The XLC is now the 6th best major S&P sector on a YTD basis, but the group has produced a gain of almost 18% thus far in 2021. The ETF has nearly doubled after registering no CLOSES below the round 40 number last March and is now hovering around the round 80 number. Some standouts in the group include IAC which has basically traded sideways since the start of February. On its WEEKLY chart, it broke above a bull flag pivot of 90 which carried a measured move to 155, and it has exceeded that target and then some. In the coming weeks, if it can break above 180, it would then carry a measured move upward of 100 handles. Of course, the heavyweight in the space is GOOGL, and it is having issues with the round 2400 number. Below is the chart of a newcomer in RBLX that is trying to make its presence felt. It is trading between the very round 90-100 numbers and is sporting good risk/reward here toward the lower end of that range.