Precarious Consumer?  

Consumer data has been on the soft side recently, but remember all this in PRICED at current levels, at least that is what technicians believe. Sometimes something so bad could be so good. I remain open-minded to whichever way the markets travel and will listen to what PRICE is telling me. If pressed I am still cautious, and remember we could see violent moves on both the up and down side. The chart of the XLY has been stretched to the downside in a big way and could snap back before potentially resuming its downtrend. TSLA recorded a spinning top candle off the very round 200 number and after a battery charge low light at 300 in July can now be looked at with good risk/reward underneath Monday’s lows as a possible double bottom pattern emerges. AMZN still looks cloudy with a bear flag, and rounding out the top 3 holdings MCD did complete a WEEKLY bullish morning star pattern last week up 4% (biggest WEEKLY gain in one year) on the second-best WEEKLY volume in 16 months. 

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