Discretionary stocks took a pause last week and it’ll be interesting to see if they can continue their recent upward trend. The expiration of the previous unemployment benefits package and the lack of clarity around how the Trump executive orders might play out could result in consumers tightening the purse strings.

After a furious rally, discretionary stocks could be reaching a tipping point. Last Friday showed exactly why investors have retreated back into tech stocks during times of uncertainty. The uptrend in materials looks like it could be close to getting broken.