Earnings Deluge:
This week has brought on an abundance of consumer names reporting numbers. Most thus far have acted well POST the release with some that were to me surprising. DNUT is inching above a bull flag pivot of 14.50 which carries a measured move to 18. TJX took out its own bull flag trigger of 72 which implies a move toward 82 into year-end most of which has not been accomplished. Remember though the measured moves are just guidelines and in fact on its WEEKLY chart is breaking above a cup base pivot of 77.45. M is trying to distance itself from the very round 20 number and its 200-day SMA as well in the process. BBWI which went from 5-80 between March ’20-November ’21 will attempt to break above the top end of the range between 30-40 from this summer. BKE, which REPORTS Friday morning, has traded between those same numbers and is sporting its own flag just above 40. Below is the chart of WMT which excelled this week and is higher by 4% heading into Friday.