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Daily Technical Strategy
Tue, July 9, 2024 | 8:29PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Attractive areas within Consumer Discretionary to consider

US EQUITY TRENDS REMAIN BULLISH AND MILDLY OVERBOUGHT AFTER THIS RECENT EARLY JULY RUN-UP, AND IT REMAINS DIFFICULT TO FADE SPX OR QQQ AHEAD OF...

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First to Market
Wed, February 28, 2024 | 8:17AM ET
Group135
FS Insight Team

Cats as Oracles

A daily market update from FS Insight — what you need to know ahead of opening bell "The best way to predict the future is...

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Daily Technical Strategy
Tue, February 27, 2024 | 7:19PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Consumer Discretionary clawing back & worth watching

EQUITY TRENDS SHOW NO EVIDENCE OF WAVERING -  SPX TRENDS REMAIN POSITIVE AND PRICES HAVE PUSHED THROUGH THE PRESIDENTS’ DAY WEEKEND WITH LITTLE TO NO...

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Tue, February 27, 2024 | 3:59PM ET

⚡ FlashInsights

Tue, February 27, 2024 | 3:59PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Discretionary is making good strides lately, with the Equal-weighted Invesco Consumer Discretionary/Equal-weighted S&P ETF ratio (RCD/RSP 1.30% ) moving to multi-week highs as stocks like AZO 0.63%  CCL 0.96%  CZR 0.40%  HAS -0.44%  NCLS ORLY 1.33%  VFC 1.61%  TSCO 1.34%  all showing above-avg gains in today's trading. However, on a larger scale, there hasn't yet been a material breakout to suggest intermediate-term outperformance in Consumer Discretionary. However, i do suspect this happens in 2024, and once this larger downtrend is broken in the relative ratio of RCD to RSP 1.30% , we'll see some outsized relative strength in Discretionary names. as this sector will begin to outperform in the near-term, technically. It's early to overweight, but I'll be watching and this Discretionary sector certainly has some names of interest. As many know, i favor the Homebuilders like LEN -0.10% , PHM -0.05%  and DHI -0.77%  along with AMZN -2.45%  and DPZ 1.57%  (on my UPTICKS list) but also feel like the Casinos and Cruise-liners are attractive stocks for mean reversion outperformance for 2024. I like CCL 0.96% 's move today for example technically which is exceeding a 2 month downtrend and this might jumpstart this stock in the short run. Below is the ratio of Discretionary to S&P 500, both shown in Equal-weighted terms
Tickers

Daily Technical Strategy
Tue, May 16, 2023 | 7:45PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Retail continues to be a drag on Discretionary

TREND STILL BULLISH -  EXPECTING UPCOMING PUSH BACK ABOVE SPX-4200 – While many would correctly call the sideways grinding in US Indices like SPX neutral...

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