May I Interest You in Today's Rotation du Jour?

In the face of some steep selloffs from retail plays BKE and ZUMZ yesterday, quite a few XRT sector names notably lagged yesterday's broad market. 

However, consistent with how this market has traded underneath the surface of late, this morning we saw tech immediately faded off the open (though bouncing back as we speak) and retail regain its footing. 

Restoration Hardware (RH) is one of several retail standout charts quite a few Members track closely, and for good reason, as the name is threatening a runaway squeeze to its many shorts this morning over $140. 

FIVE GOOS LULU are three other strong retail charts and even emerging growth leaders which continue to sport sound technical and decent strength this morning. 

And then there is Conn's, a uniquely underrated retail winner this year. 

On the CONN daily chart, updated below, we can see the very heavily-shorted furniture, mattress, electronics and appliance store chain headquartered in The Woodlands, Texas, is setting back up yet again on the long side after its latest push higher. 

$38 figures to be the next obvious level to clear. But I am considering an entry before then, too. 

Overall, the poor action in many banks after C JPM WFC earnings this morning is certainly a concern. However, when the broad market continues to insist on these rotations du jour, as frustrating as it can be at times due to how slippery they seem, we simply must track them until the game of musical chairs stops.