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Recent strength in the Cruise-liners has reversed dramatically today and this is one of SPX's biggest underperformers, as CCL, NCLH are reversing the recent breakouts which happened a couple weeks ago. Overall the lack of strength in Discretionary is also something worth keeping an eye on as the Consumer related stocks have been quite weak this year. Chart of Carnival Cruise lines CCL0.29%  shown below

Discretionary is making good strides lately, with the Equal-weighted Invesco Consumer Discretionary/Equal-weighted S&P ETF ratio (RSPD-1.28% /RSP-1.57% ) moving to multi-week highs as stocks like AZO-1.58%  CCL0.29%  CZR-0.56%  HAS-0.12%  NCLS ORLY-0.68%  VFC5.80%  TSCO0.37%  all showing above-avg gains in today's trading. However, on a larger scale, there hasn't yet been a material breakout to suggest intermediate-term outperformance in Consumer Discretionary. However, i do suspect this happens in 2024, and once this larger downtrend is broken in the relative ratio of RSPD-1.28%  to RSP-1.57% , we'll see some outsized relative strength in Discretionary names. as this sector will begin to outperform in the near-term, technically. It's early to overweight, but I'll be watching and this Discretionary sector certainly has some names of interest. As many know, i favor the Homebuilders like LEN-2.98% , PHM-2.58%  and DHI-2.42%  along with AMZN-1.56%  and DPZ-2.51%  (on my UPTICKS list) but also feel like the Casinos and Cruise-liners are attractive stocks for mean reversion outperformance for 2024. I like CCL0.29% 's move today for example technically which is exceeding a 2 month downtrend and this might jumpstart this stock in the short run. Below is the ratio of Discretionary to S&P 500, both shown in Equal-weighted terms

Carnival Cruise Lines (CCL0.29% ) - Cruiseliners made a big jump today, and CCL preferred over NCLH as this wrestles with a multi-year relative breakout- Absolute charts ccl