Caesars Entertainment (CZR) made a beautiful breakout on high volume Thursday. It has continually tested this $13.50 level since July 2017. Today, the chips were all placed on Caesar's side of the table. The volume surged to 25 million shares. The SCTR looks to be surging back into the top 25% area. The Relative strength compared to the $SPX made one month highs. The chart will probably add momentum if it can start to break out to new 12 month highs in relative strength.
Arthur Hill mentioned MGM the other day. Wynn has been performing as well. It helps when the whole industry group surges. Below $13.50, I'd let someone else own it, but this looks like a nice breakout here.
Greg Schnell, CMT, MFTA