Amazon.com and Lennar Lead Consumer Discretionary Sector HigherMay 17, 2019
Editor’s Note: This article was originally published in John Murphy’s Market Message on Thursday, May 16th at 11:49am ET.
Stocks are having another strong day today with all eleven market sectors in the red. Cyclical stocks are helping lead it higher. Chart 1 shows the Consumer Discretionary SPDR (XLY) trading back over its 50-day average (blue line). Two of its biggest gainers are shown below. Chart 2 shows Amazon.com (AMZN) bouncing off its 50-day average. Chart 3 shows Lennar (LEN) rising to the highest level in ten months. Lennar is part of the homebuilding group which has been the strongest part of the XLY this year.
Source of this (above) article: http://blogs.stockcharts.com/articles/chartwatchers/2019/05/amazoncom-and-lennar-lead-consumer-discretionary-sector-higher.html