Retail Buzzing:
Over the last one month time frame consumer discretionary, via the XLY, is higher by more than 9%, making it the best major S&P sector of 11. Contributing to that fine form are tires, with GT acting well POST breakout above a cup with handle pivot of 20.90, and is now sporting an add-on buy point above a bull flag. Automobiles have been firm with big moves in F, FSR, and LCID. Both F and FSR have been dealing with the very round 20 number, with the former in a bull flag there, and the latter now nicely above a cup base pivot of 20.71. Home improvement plays in HD and FND rose in the 6% neighborhood on Tuesday, and specialty retail plays like ONON and GPRO are surging during the last one-month period. Looking at the chart below of the XRT, it is being helped along by top holdings like BKE RVLV and BOOT. DASH could be looking to retest a double bottom breakout pivot of 220.71, and if AMZN can get above a 3600 bull flag, which would negate an upside gap fill from the 7/29 session, it could hit 3900 by the end of 2021. Retail is in the mix.