Trend Signal Now: The Big Picture on Retail

Friday, February 28, 2025

Retail stocks are always telling a story — if you know where to look.

Take Home Depot. They just posted their first positive comps in two years, and the stock is up. But is this the start of a turnaround, or just a short-lived bounce?

Look at this "massive top" in the Dow Component and 3rd largest weighting in the Consumer Discretionary Sector:

I say "Massive Top", because this is a bull market. And these sorts of formations rarely complete in these types of environments.

In fact, they usually just turn out to be consolidations within ongoing uptrends.

I think Home Depot is no different.

Then there's Callaway. They bet big on TopGolf, and now they're taking a billion-dollar write-down. That's half of what they paid for it. What does that tell us about the state of consumer spending — and is there a trade here?

These are just two of the stories Jeff Macke is tracking. He grew up in retail and sees the big picture that most traders miss.

Check out his latest insights — including videos, earnings breakdowns, and deep dives into the real trends shaping the market.

Catch up on all Jeff's latest posts here.

JC Parets, CMT | Founder, All Star Charts

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Trend Signal Now

The Big Picture on Retail - Home Depot (not a top)