One of the noteworthy developments in recent days has been the move in retailers. The group attracted strong buying support despite rising interest rates and fuel prices, which generally presented a less-than-ideal backdrop for consumers. The SPDR S&P Retail ETF (XRT) surged 4 percent last week to 45.72, bringing its YTD gains to 1.2 percent, outperformed the S&P by a slight margin. Now the question is whether the rally has more legs? Below is an update look at a trade in XRT.
The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red.
Chart 1.1 – SPDR S&P Retail ETF (weekly)
Our “U.S. Market Trading Map” painted XRT bars in green (buy) – see area ‘A’ in the chart. Over the past few weeks, XRT has been trending higher after the early February corrective trend found support near the 50-week moving average. Last week’s rally had helped push the ETF above the February’s falling trend line, signify…Click here to read more.
You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.
This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?
Subscribe to CEM News to receive more in-depth research from Capital Essence.
P.S. Take advantage of the 30 days special trial [new member only]. Join a small group of elite traders and receiving these daily trading ideas by click here to subscribe.