Today, the market is looking positive again due to inflation numbers coming in a little better than expected.
And if inflation stays contained (as we all hope it does), that leaves a little money left over for leisure activities.
Plus, back-to-school sports need equipment.
Plus, the extreme heat wave all over the world may mean we can stay outdoors longer due to winter coming later.
For all of those reasons (and probably more), DKS (Dick’s Sporting Goods) has been on a run lately.
It’s above its long-term moving average and is moving strongly toward a breakout point.
If it crosses $152.61, we could see a really nice run from DKS.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
