Discount Dean:

The action in the discount retail arena has been noteworthy. There have been some outsized moves with WMT coming to mind. It now sits just 5% off most recent 52-week highs and is back above the highs of the dreadful week ending 5/20 that capsized almost 20%. TJX in the last 2 months alone has traded in a very bullish taut manner trading from 60-80 and has broken above a double bottom pivot of 67.90 and a bull flag formation in Q4. TGT is still a dawdler, 35% off its annual peak. DLTR filled in an upside gap from the 8/24 session recently but has since gone soft with a second straight poorly received earnings release. Below is the chart of FIVE, which has quietly been gaining momentum higher in the shadows of its aforementioned peers. The stock is higher 14 of the last 21 weeks, with 4 of those weeks jumping by at least 8%. Over the last 3 months, it has gained more than 20%, while peers OLLI DG and TGT rose by 7, 6, and 3%. I think this stock sees 200 sometime in the first half of 2023. Use a stop of 144.

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