One of our top ranked industries coming into the week is the Consumer Retail sector, especially apparel and discount retail. This group has been leading the S&P 500 year-to-date, they are in constructive uptrends, and are trading at reasonable valuations, which the market seems to be more focused on over the last few months.

A few of our favorite technical ideas here are The Gap (GPS), L Brands (LB) and Tapestry (TPR) in apparel. Burlington Stores (BURL), Ross Stores (ROST) and TJ Maxx (TJX) in discount retail. All are trading in uptrends above their rising 50-day moving average, indicating a strong uptrend and are at or near breakout levels.

As the economy continues to reopen, we expect consumer spending to remain strong and these charts are trending well here.

(My bio: Larry Tentarelli is the Editor and Publisher of the Blue Chip Daily Trend Report. )