Steve Madden: Making Strong Island Proud

While it may seem like a relic from the late-1990s/early-2000s, retail play Steve Madden, Ltd. is back in the game with various retail stocks heating up and clearly outperforming the market thus far in 2018. 

Interestingly, Long Island City-based (which is actually Queens, but to a Jersey guy they are all lumped into Long Island) Steve Madden has been well off the radar for most traders, despite its catchy SHOO ticker symbol and the firm's prominent history in New York headlines, such as with Jordan Belfort. 

Nonetheless, when we take a step back and consider the extreme strength in retail plays like ANF CROX GCO GES LULU ZUMZ, among many others, it behooves us to consider whether SHOO has a quick run in it, up and out of the highlighted tight triangle pattern on the daily chart, below, before earnings just over two weeks from now on April 20th. 

More in my usual Midday Video for Members.