Chart of the Day - Tuesday, November 12th, 2019

Today’s Chart of the Day was shared on Twitter by Strategas Research Partners (@StrategasRP). It's a chart of Amazon ($AMZN) going back to July 2017. The middle pane shows Amazon's weight in the Consumer Discretionary sector, and the bottom pane is a ratio chart showing Consumer Discretionary relative to the S&P 500. The Consumer Discretionary sector has been relatively weak over the past month despite the broader market hitting all-time highs. Strategas suggests that this is likely due to the fact that $AMZN represents a whopping 29% of the sector. $AMZN is still about 13% below its former high, and it's up less than 4% over the past 12-months. Over the same period, the S&P 500 is up 11.22%, and the Consumer Discretionary sector is up 9.97%. Clearly, the beloved FAANG stock has not lived up to its reputation as a market leader as of late.