“Experience” Wanted:
This is how consumers justify spending their hard-earned capital. They want to experience things they will remember and this theme could be verified through the lens of some of the leading stock charts in the space. The daily chart below of LYV displays the thirst for music concerts and the like and notice how it started a current bull flag just after poking above the very round 100 number, that acted as resistance three times between mid-July and late August. Mixed signals on the WEEKLY and MONTHLY charts with the latter showing nice action POST breakout above the cup with handle pivot of 107.34 in September. The WEEKLY chart recorded a doji candle last week which is known to signal fatigue, just its second in the last 2.5 years (but it does have the possibility depending on Fridays CLOSE to register a bullish 3-week tight pattern). Others that fit the theme include RCL which is sporting a bull flag of its own at the very round 200 number. A break above 202 would carry a measured move to 234. The WEEKLY chart of EXPE is attempting a break above a cup base pivot of 160.15 in a base 9 months long. Notice last week was above intraweek, but could not CLOSE above, and the prior week put up a doji candle.