Pick Your Hemisphere:
The XLY is dominated by two names in AMZN and TSLA. The former is acting better just 2% off its most recent 52-week highs while TSLA is stuck in neutral, 20% from its annual peak made on 7/19 at the very round 300 number. Tesla attempted to break above a bull flag Wednesday and did so early on only to reverse, no pun intended, by the CLOSE. Below is the chart of AMZN which is hanging near 1 1/2 year highs. Its WEEKLY chart is sporting a bullish inverse head and shoulders pattern aligning roughly with the very round 150 number. The daily chart has recorded a bunch of bearish candles which may indicate this recent run is showing signs of fatigue. It started on 11/15 with the bearish engulfing candle, then doji candles on 11/21 and 11/24, and a spinning top on 11/27. South American peer MELI looks better as it is nearing a bull flag measured move to 1650 (can also be interpreted as a double bottom with handle base). Over the last one month period MELI has gained more than 30%, tripling the return of AMZN over the same time period. Elections have consequences.