Reach for the Elf Instead, Grasshopper

Eyes Lips Face, also known as e.l.f. Cosmetics, is an international cosmetics brand based in New York City, trading under ticker ELF, a recent IPO. 

ELF has no relation, unfortunately, to The Keebler Company, famous for the animated Keebler Elves, and is now owned by Kellogg. 

Still, with the likes of ACIA LN PI TWLO unable to rekindle their post-IPO fire to the upside, some money may indeed be rotation to fresh IPOs like ELF. 

On the daily chart, below, ELF indeed may need a few more months to develop its own unique chart flow. But into yet another downside market reversal this morning off opening strength, it is impressive to see ELF not only green here but threatening an upside break. 

We continue to track this name, among a few others, for Members as the type of relative strength we like to profile during near-term choppy and/or corrective markets. To be sure, if the market enters a prolonged downtrend from here than even ELF likely gets drilled. But if we do see that year-end rally, ELF sure has the makings of a nice rally into the holiday season, just in term for Christmas elves.