10Jul3:38 pmEST

Summer Sleepers

It turned into another spotty summer rally today, with the early small cap reversal down impeding the bulls' hope for a spirited, broad-based move higher. 

As we discussed with Members earlier, the market seems to be morphing into a daily game of Whac-A-Mole at times, as the sector rotations are becoming more frequent and ephemeral.  And with the World Cup semifinal match underway as we speak, it is likely we do not see fireworks in the closing bell today. 

Still, it is tough to become too bearish or even cautious too soon, since we still have a fair amount of quality charts out there even if the upside momentum is not ideal.

Canada Goose in retail, on the first daily chart, below, is one example. There is nothing better than the cover of summer heat for the upscale winter jacket maker to break out under-the-radar. Note the strength this afternoon on volume and the overall smooth chart action. 

On the next chart, we have the daily timeframe for Nutrien, the byproduct of the AGU/POT merger. Ags represent another stealth sector rallying, and there seem to be quite a few hidden gems in there which will likely be overlooked by many traders due to the sector being out of favor for quite some time. 

Grip it and Rip It The Summer of Laffy Taffy Ta...


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