Amazon.com and Lennar Lead Consumer Discretionary Sector Higher

Amazon.com and Lennar Lead Consumer Discretionary Sector Higher

May 17, 2019 Off By readly




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.

Chart 1

Chart 2

Chart 3

Source of this (above) article: http://blogs.stockcharts.com/articles/chartwatchers/2019/05/amazoncom-and-lennar-lead-consumer-discretionary-sector-higher.html