Electric Jolt:

Strength begets strength. And the vast majority of an individual stock move emanates from the sector it resides in. By default, if you hail from the consumer discretionary here you have the wind at your back. On a one week look back period the XLY is the second best major S&P sector, and on a one and three-month time frame, it is the best of 11. Below is the chart of TSLA, which makes up roughly 1/5 of the ETF. But other auto names are acting well like a F which has recorded a spirited run since the start of July right near the very round 10 number (it is outclassing peer GM which is in a range between 30-40 at the moment). HOG is quickly approaching a 44.56 WEEKLY double bottom pivot and is looking likely to register a 6th WEEKLY gain in its last 7 as it is higher by nearly 6% heading into Friday. Getting back to TSLA and this could be on the verge of a big move for itself if it can break above a bull flag, and that would have further implications for the entire sector. Start your engines.

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