It seemed to me that there were just as many earnings beats as earnings misses, so a favorable holiday sales outlook is not a factor in the positive technical divergences.
FORBES: Consumer Sectors Rebounded Friday: Could There Be A Santa Claus Rally?
The holiday season is (a) upon us and (b) often the deciding factor in whether a given brand had a successful year or not.
FORBES: Competition Promises To Be Fierce For Brands This Holiday Season
Factor in the return to job cuts and stressed disposable income, and prospects for holiday spending this year are questionable.
FORBES: October Employment Report Puts Restaurant Stocks on Notice
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