Sheer Breakthrough:
Some of the big boys in the consumer discretionary space have seen nice runs. Of course, the two most recognizable include AMZN and TSLA. The weeks ending 3/18-25 Amazon rose by a combined 13% and for the most part, is keeping those gains intact at the moment. Tesla is on a current 3 week winning streak and during that time frame has risen by 33% and on its WEEKLY chart is carving out a double bottom pattern with a pivot just above the round 1200 number. MCD sits just 8% off most recent 52 week highs, but other top ten holdings are not keeping up their end of the bargain. HD and LOW, home improvement rivals need to hold the very round 300 and 200 numbers respectively and both are in bear market mode off more than 20% from their annual peaks. SBUX is off by 8% this week so far and has sliced off a third of its value since highs made last July. A bright spot in the space is the chart below of LULU. It is up 100 handles from the intraweek lows just from the week ending 3/18 and this week is following through once again up 3.1% while the XLY is essentially UNCH heading into Wednesday.