If you haven't heard by now, the Online Retail Index broke out to new all-time highs. We're not exactly seeing that from a broad-based perspective. This is not happening domestically and it's certainly not happening around the world. The rotation we're seeing among sectors and industry groups is real. Today we're going to focus specifically on online retail.
The way I see it, the question here is simple. Is the massive reversion, and return to these prior highs, "the" move? Or was that just a multi-year consolidation, and the move is just getting started?
Here's what that looks like:
Click on Charts to Zoom In
Now look at this group of retailers relative to the S&P500, which happens to be one of the strongest stock indexes on planet earth. So we're comparing it to strength, not cherry picking weak indexes:
This is a group that's hard for me to ignore. A lot of these names were coming up on our scans when we were looking for strength throughout March and April. But they're still showing up near the top of all our strength scans.
Which names in this group do you own?
Here are two stocks that I personally really like:
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