This table captures the longer-term drift in the relative performance of the U.S. sectors as markets accelerate their selloff.
You can see groups like Communications $XLC continue to show leadership, while Consumer Discretionary $XLY, which was on the top, has dramatically fallen in recent weeks.
We've been pointing to this breakout level in XLY; last week we said buyers should come in and defend this breakout.
Well, they failed, rather spectacularly...
It's not just Amazon $AMZN or Tesla $TSLA dragging this ETF lower, it's a sector-wide story right now.
The Equal Weight Consumer Discretionary ETF $RSPD also failed to break above its prior cycle highs.
Retail stocks are undoubtedly being dragged lower because of this, but retail-expert Jeff Macke knows how to turn that weakness into an opportunity.
