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The retail industry group and related stocks remain strong again this week, with Best Buy (BBY) reporting earnings this morning. During the pre-market session the company reported an earnings beat and raised guidance for the year. Automotive, electronics, sporting goods, apparel, footwear, and related groups are higher again this week, going into the start of holiday shopping season.

MarketSmith – Retail Scans

Black Friday sales are expected to pick up this year, while many analysts are pointing to an uptick in expected sales for Amazon (AMZN) into the Cyber Monday shopping frenzy.

Autonation (AN) is printing higher lows, trading just below its pivot buy zone.

Shoe Carnival (SCVL) and Tilly’s (TYLS) rose on Monday.


Hot Retail Stocks

Buckle (BKE) is about 3% above its 50.89 buy point after completing a four-month cup base, according to MarketSmith chart analysis. The Nebraska-based retailer reported fiscal Q3 earnings on Nov. 19. Buckle treported earnings of $1.26 cents a share, compared to $0.85 in the sam quarter 2020. This marks a beat of 48% year-over-year.

IBD Stock Checkup assigns Buckle a 96 Composite Rating, which puts the Nebraska-based company among the group’s leaders.

Tilly’s (TLYS), which doesn’t report until Dec. 2 (9 days), is breaking out of the right side of a cup-style base with a 17.03 buy point. Zacks estimates the Irvine-based clothing retailer will earn 33 cents a share, up 371% from last year’s 7 cents.

Shoe Carnival

Shoe Carnival (SCVL), popped up on the MarketSmith Blue-Dot Scan with its 99 Composite Rating and RS line rising to 96 as the stock pierced its buy point at $42.93 this week. 


Shoe Carnival is also one of the hottest stocks in the retail/shoes category. Shares are trading about 4% above its 42.93 buy point of a three-month cup base.

The company beat analysts estimates by 222%, compared to the same quarter a year-ago and extend Shoe Carnival’s triple-digit profit growth streak for a fourth straight quarter.

Click to enlarge chart.

We’re also watching steel stocks this week as all of the related names in the group showed intense action on Monday.

Cleveland-Cliffs, Steel Dynamics, US Steel, and Nucor rose to end the day in the upper half of their daily range, a sign of strength.

Nucor (NUE) is Monday’s IBD Stock Of The Day as the steel producer touts an energy efficient new product, while gearing up for an industry cycle extended by the recently signed infrastructure law. NUE stock, among the big S&P 500 gainers in Monday’s stock market action, charged past a buy point from a cup-with-handle base.

Nucor stock led the group of U.S. steelmakers higher, joined by Steel Dynamics (STLD), U.S. Steel(X) and our new position in Cleveland-Cliffs (CLF). The group also rallied on Nov. 8, following the long-awaited passage of the $1.2-trillion infrastructure bill, which included $550 billion in new spending.

Join us today in the trading room for our LIVE broadcast during market hours, as we trade these MarketSmith stocks while navigating the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 


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