04Dec1:17 pmEST

A Sizzling Sector Served Up on a Sizzling Plate

Working our way through the early-afternoon portion of the trading session, we continue to see a notable spread among the major averages as the tech-led Nasdaq lags far behind the Dow. Whether it is AMD NVDA or PYPL, we clearly have some selling interest in prominent tech names being masked by the Dow up roughly 200 points. 

With this in mind, we want to continue to stay precise with our fresh long setups, tracking sector rotations. 

On the back of my prior blog post from this morning, consumer discretionary plays seem to be benefiting from rotation. The XLY, discretionary sector ETF, has been exploding higher over the last three weeks, and we are now seeing restaurants get the memo.

Ruth's Hospitality Group, Inc., owner of Ruth's Chris Steak House, figures to get with the act, too, above $22. 

On the RUTH daily chart, below, the high-end steakhouse chain has been basing rather well the last few months and figures to be gearing up at least for a year-end run, if not something, well, meatier. 

More ideas in my usual Midday Video for Members

Serious Business for Recreat... A Scary Reputation


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