Large, Small, Or Neither?

The XRT’s top holdings are littered with former leading stocks that have come back to life. ETSY which REPORTS later next week has been sliced in more than half from the very round 300 number to below 150. BKE was rejected at the 40 number last week and not long after was soundly rejected at the very round 50 figure on 11/19/21. RVLV has gained 50% from the round 40-60 figures the last 3 weeks, yet is still 35% off highs made at the round 90 number from last November that ignited a 9-week losing streak, not a typo. BOOT which traveled from an 8 handle in March 2020 to a high of 134.50 the week ending 11/19/21 has since been given a 40% haircut from that peak. SIG is now 30% off an ascent made from 11/22/21 and a promising chart now has the look of a bearish descending triangle as it slips just beneath its 200 day SMA here. Are investors fleeing into larger cap consumer plays in anticipation of hard times ahead? The ratio chart comparing the XRT to the XLY suggests so even if both are feeling heavy. The week ahead will give more clues with earnings this week from MAR CROX WMT YETI and SHAK.

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