Pack Your Lederhosen, Boys

Pack your lederhosen, boys. You're going to Norway.

Well, you will at least want to look at the Netflix chart, second below (for which Lilyhammer was the first exclusive content offered by the service), compared to might AMZN, on the first daily chart. 

As we know, AMZN and FB have been the undisputed monsters of the market lately. And, going forward, the pressing issue is whether that leadership is sufficient to not only keep the indices afloat but also push to up new highs. 

The retail carnage today is not helping the cause on the surface, but then again the bull thesis would be that AMZN is literally destroying these firms and thus will inevitably become the largest firm by market cap in the world soon. 

If we do stay rangebound on the indices, even relative leaders in recent years like DIS NKE and NFLX may still work as topped out shorts, as we have been profiling those three names in particular as running on fumes after multi-year rallies--SBUX also fits the bill.

Either way, the action of late has been trapping to both sides, with alternating gaps up and down in recent sessions. I am staying light and tight, but am warming back up to some commodity charts which I will run through for Members in my usual Midday Video.