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ETF Sector Relative Strength Corner: Leisure Group to Outperform

by | Sep 19, 2021

Leisure & Entertainment (PEJ) is the ETF for Dynamic Leisure and Entertainment stocks within the Discretionary sector. It has been showing relative strength as of late after finding support near the YTD VWAP during a summer pullback from recent highs. PEJ is flat in September while the overall market dips lower. The weekly chart has based against its 34-week moving average in recent months and RSI has pushed back above 50 showing signs of resuming the trend as the economy reopens for travel and entertainment.

The ETF is more of a stock play since options are not liquid but the top 5 holdings within this ETF include Booking (BKNG), Disney (DIS), McDonalds (MCD), Starbucks (SBUX), and Chipotle (CMG). All of these names besides SBUX are above their 8/21 week EMA’s and structured bullishly. Specifically, DIS is forming a nice coiled weekly squeeze pattern that may eventually resolve higher towards 200. DIS has also seen recent opening put sales in March 165 puts for $3.6M. 

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