Turns out Grandma Retail XRT began cooking her family’s Thanksgiving feast today.
Last week, brick and mortar XRT gave us an indication that she would consider cooking this year when the instrument went from a Bearish to a Recovery to now a confirmed Accumulation phase.
Granny baked the trimmings ahead of time, anticipating that the rest of the family will show up hungry on Thursday and stick around for leftovers on Black Friday.
While retail chains such as Kohl’s, Lululemon, Michael Kors and Costco continue to post gains, no reason Granny should not stay optimistic.
However, the main course for Thanksgiving is the Turkey.
Since scientists believe that birds are dinosaurs evolved, will the Rallysaurus enjoy or regret getting carved up and served on a turkey platter?
Semiconductors (SMH) did not make a new all-time high today. But at least, SMH is holding the fast-moving average at 103.48.
Semi’s like Thanksgiving, but she likes Cyber Monday even better.
Regional Banks (KRE) did well, yet has decent overhead resistance around 58.00. He’s still all about tax reform and the promise of more money in his coffers.
The Russell 2000, or Granddad IWM, promised Granny he’d help in the kitchen.
And so, he did.
IWM prepared the cornbread stuffing. In other words, he made the dressing for the Turkey. For now, the Turkey finds comfort in having added insulation.
Biotechnology (IBB), held 308-an important near-term support level.
Though, as a drug maker, he stocked up on antacids in case the Turkey gives his family heartburn.
Transportation (IYT) will show up on Thursday. Nevertheless, we hope he doesn’t drink too much wine.
After all, the family counts on him as their designated driver.
If IYT can’t operate a vehicle, hence forcing the Family to stick around the dinner table longer than necessary, that could turn a festive holiday into a confrontational one.
Should everyone play nice, equitable distribution of the Rallysaurus turkey meat is positive for the market.
