David Versus Goliath:
In times of uncertainty, investors tend to flock toward more mature, stable stocks. In the discretionary space, these are represented most by the top holdings in the XLY. The number one component in TSLA has been whipsawed recently but is still above the bounce off the precise round 700 number on 2/24. More traditional dividend plays among seasoned names include HD which continues to hold the very round 300 figure and that should be considered a line in the sand. Other disappointments in the top ten include SBUX which is now 40% from its most recent 52-week highs and incredibly has advanced just 3 weeks thus far in all of 2022. Below is the second-largest holding in the XLY in AMZN and on its present 5-week losing streak has lost more than 1000 handles. It still trades 800 handles underneath its downward sloping 200 day SMA, but I think a dead cat bounce of 300 handles to fill in an upside gap is not out of the question. That would be a 12.5% move higher, then one can reassess.