Stock Market Today: Resurgence of Retailers

October 17, 2023, 1:16 pm EDT

Resurgence of Retailers

Retailers are getting stronger recently like VFC up +14% today as well as LULU gap-up breakout yesterday. 

Others are also line-up to rise up either from the bottom of bases:

  • Bottom: M, UA, PVH, NKE, DLTR
  • Base: TJX, ROST

Although the stock ignores the war in the Middle East between Israel and Hamas since the attack on 10/07/2023, the risks are still on the table. The complexity of the confrontation in Gaza and neighboring countries should not be underestimated. The bad-news rally is highly suspicious, in our opinion. 

However, any potential leaders are interesting to watch like retailer industry at this time. 

Overall investment strategy should be cautious and conservative.

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