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The PPT is flagging the “Small Tools & Accessories” Industry as being the third ranked in the entire market, according to the hybrid score of its technical and fundamentals. To my eye, the most enticing setups are: SNA SWK TTC, as seen in their daily charts below.

Indeed, sometimes it is worthwhile to be a tool.

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[youtube:http://www.youtube.com/watch?v=bosSU0lXssk&feature=related 550 412] ______________

Even before the wildly bullish reaction that we saw to SVU‘s earnings on Thursday, most of the stocks in the grocery store sector were set up quite handsomely, indeed. Choose whichever macro thesis you want to explain these setups, but this is what I look for–Clean charts with price and volume working in concert. As you can clearly see for yourself on the annotated charts that I present below, the supermarkets are where the action is at these days. To put the cherry on top, The PPT Seasonality feature gives the Grocery Store Industry the nod with impressive April statistics, seen below.

Seasonality

Month Avg % Return # Up # Down % Up % Down January -0.51% 88 107 45% 55% February 1.77% 116 81 59% 41% March 2.54% 111 85 57% 43% April 3.01% 122 75 62% 38% May 1.94% 106 91 54% 46% June 1.02% 109 87 56% 44% July 1.30% 103 97 52% 49% August -0.53% 102 100 50% 50% September -0.37% 90 101 47% 53% October 0.72% 112 86 57% 43% November 3.14% 120 76 61% 39% December 2.58% 116 78 60% 40%

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The IYR is having an impressive day, as you can see by the bullish engulfing candle being printed on the daily chart below, on strong volume. Note that I assign more credibility to the bullish engulfing candle when it comes after a fairly steep prior downtrend of consecutive red candles, especially, which we have here.

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According to The PPT Seasonality feature, April is the best month for Retail REITs after December.

Seasonality

Month Avg % Return # Up # Down % Up % Down January 0.40% 244 192 56% 44% February -0.30% 245 193 56% 44% March 2.61% 296 145 67% 33% April 3.42% 274 160 63% 37% May 1.61% 276 170 62% 38% June 0.37% 281 170 62% 38% July 1.56% 269 176 60% 40% August 2.38% 285 168 63% 37% September 2.25% 292 148 66% 34% October -2.95% 187 259 42% 58% November 0.09% 279 167 63% 37% December 4.44% 309 126 71% 29%

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Finally, many of the REITs are printing huge engulfing candles only after selling off first. However, one REIT that has held in exceptionally well and is more of a breakout play is VNO. Note how it simply based out above all moving averages, rather than selling off like the others did. I like this relative strength.

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With the exception of the busy holiday months, The PPT seasonality feature tells us that the major airlines actually perform best in the month of April, with a healthy set of data points to confirm (Click on pic below to see full size).

Beyond The PPT seasonality, I delved into technical analysis and noted how oversold the airlines were on short/intermediate-term timeframes in an earlier post today. Indeed, inside our 12631 Trading Service, we take The PPT classroom work one step further out into the field for a hands-on approach, so to speak.

For an even longer-term perspective, I want to analyze the monthly chart of XAL (Amex Airline Index). Although they did so in a seemingly under the radar (fittingly) manner, the airlines did indeed see a sharp rally off of their 2008-2009 lows to recapture virtually all of the losses from the bear market. As you might imagine, the concept of overhead supply started to kick in at a certain point and, coupled with higher energy prices, it is no wonder that the airlines have seen five consecutive lower monthly closes. With that said, the overall trend for airlines since 2009 remains firmly higher, and the recent string of red monthly candles has happened in a rather orderly fashion, giving good reason to think that this is a bullish consolidation. Of course, as I indicated on my video market recap today, I will wait to see more bonafide signs of strong buyers before becoming too aggressive here.

Despite sentiment indicating that energy prices simply must go higher and devastate all things dealing with the transports in the immediate future, I expect the airlines to actually outperform in the coming weeks and months.

Full Disclosure: Long AMR

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