- NKE showing strength on a relative basis compared to the S&P 500 index (
SPX
)
- Strong recent earnings reaction (+8% on earnings day) with new all-time high
- Consumer Discretionary (
S5COND
) has been outperforming the SPX on a relative basis while trading above the 200-day moving average (indication of an up-trend)
Solid dip buy opportunity with limited downside risk using 122.50 as a stop.