Chartology: Consumer Discretionary Is Taking On Some Leadership Attributes

Relative Rotation Graphs are a handy way to distill a lot of market information onto a single plane surface. What are the leading groups, what's lagging, and will the consumer come bouncing back to save the day?
So we'll leave it to the reader to see if they are useful and jump ahead to what they are saying.
From StockCharts:

Consumer Discretionary On the Verge of Crossing Over Into The Leading Quadrant on RRG

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The RRG chart above shows the relative position for US sectors based on last Friday's close.
The sector that stands out most at the moment, at least for me, is Consumer Discretionary. After initially rolling over inside the improving quadrant, this sector "hooked" back on track during the second half of the week.

These "hooks" are simply clockwise rotations that went so fast that they do not show up on this particular timeframe. This is a daily chart, the shortest that we can run here on StockCharts.com; we would need to go to hourly or 30-minute charts to see the rotational pattern showing up again.
The good news is that the rotation is going in a positive direction and the Consumer Discretionary sector is gaining on both axes. As of last Friday's close, the sector is on the verge of crossing over into the leading quadrant.

The price pattern developing since June can be seen as an ascending triangle. Three subsequent higher lows and two peaks around the same level indicate that sellers are present in the range between $123-124, while buyers are coming in at higher levels each time. This shows a rising support line, connecting these three lows....MORE, including the RRG chart

Just as we said about the transportation stocks on Friday, you don't see this type of action going into a recession:
"The Broader Market Is Setting Up For A Move Higher"

And Monday:
FT "Boeing is dragging down the US economy" (BA)
"Boeing Drags Down Dow, Short-Squeeze Sends Small Caps Soaring"