Technical Sector Breakout List Growing:
Technology has been making amends and it is just the group market participants would like to see take the baton in this nascent rally. Measured by the XLK, technology is still just the tenth best-performing major S&P sector YTD, outperforming just consumer discretionary with each down in the neighborhood 10% so far. We have mentioned the growing tech double bottom breakouts from PLTR CRWD and NFLX, and it is now refreshing to add some consumer names are following their lead. For example, EAT a best-of-breed casual diner, is just above a 158.45 double bottom trigger, and is stalling somewhat and had been above the pivot intraday the last 3 sessions before CLOSING north of it Monday (this is a name that demonstrated solid relative strength not even coming close to touching its 200 day SMA in the recent market frailty). The daily chart below of CVNA, which REPORTS next week, is just above a double bottom trigger and would like to see this push stronger away from it with the shooting star candle last Friday. On the MONTHLY chart it is carving out a very deep cup with handle base and bulls or bears can paint their bias with the former saying April is a bullish hammer, and bears a hanging man.