The Dow has finally to make something that resembles a move, but is still only up 55 points on the day. The Nasdaq is less active, higher 9 points. Since the markets look to be taking a vacation, lets look where they might stay while on vacation, hotel and leisure stocks.
Hotel and Leisure Index
According to a study by Pricewaterhouse Coopers, this quarter will be the worst in nearly a decade for the lodging industry. Full service hotels in New York, San Francisco, and Detroit should be the hardest hit. Looking at a chart of the Hotel and Leisure Index shows that after retracing 61.8% of its October to March gains, the index rebounded nicely. It has completed a cup and handle formation, but has since pulled back to the top of the pattern. Other than an overbought RSI, the chart looks decent. October up trend sill in place, 200-dma rising, and the 50-dma is turning up. Until those are broken, the hotel sector still looks better to me than the networking index (NWX.X).