A Sonic Boom for This Sector

On the back of an earnings rally from Sonic, restaurant stocks are mostly catching a decent bid amid an otherwise painfully slow trading session. 

With plenty of earnings still ahead of the sector, it is tough to get too excited just yet about the breakouts in, say, Texas Roadhouse, below on the daily chart and with earnings on October 30th. 

Nonetheless, quite a few casual dining stocks appear to have been knocking out big bases in recent months, if not quarters. And the SONC price action implies that we ought to be keeping an open mind to the notion that perhaps surprised may be to the upside in this long-suffering sector, not unlike retail.

More on this, and other ideas, in my usual Midday Video for Members.