Luxurious Chart:
Luxury retail names, in general, tend to hold up better in good and bad times as they are thought of as recession-proof in the worst of times. It is why stocks in the space are always in demand. CPRI bought the former KORS, and LVMUY purchased one of my former favorites in TIF, just to name a few. Extravagance in the space includes autos and RACE is probably one of the better knows names and it is finding support near the round 220 number and its 200 day SMA (also the area of a former double-bottom breakout last October), but has the look of a bear flag. Peer POAHY is having a nice week and if it can shed single-digit status and climb above the very round 10 number it would be very bullish. TPR, the old COH (I abhor name changes), reported earnings this morning. Its WEEKLY chart has a nice look of a long double bottom pattern but for me to get interested it needs to climb above 42.50. Below is the chart of LVMUY and this looks solid as long as it holds Thursday’s intraday lows on a CLOSING basis.