Starbucks (SBUX) was up about 15% in trading today. Very impressive but there is an old saying that one day is not a trend. Let's take a dive into the charts.
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I think their sales are sustainable in part because we are scared to go to the supermarket but we know we have to because we can't go out much.
Shares have rebounded smartly to challenge the declining 50-day moving average line.
The detrended Rydex ratio remains very bullish.
When I scan the restaurant space, I remain perplexed, wondering not only when they might be able to reopen, but also how quickly consumers will come back, and to what degree?