One of the noteworthy developments in recent days has been the move in retailers. Trade war fear among the United States and its major trading partners as well as high energy prices weighed on the group. The highest retail gasoline prices in years are the latest development to raise concerns about one of the longest-running U.S. economic expansions on record. The SPDR S&P Retail ETF (XRT) fell 0.4 percent Thursday, down 1.8 percent WTD. Now the question is whether recent selloff is a pause that refreshes or it’s a beginning of something worse? 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 red (sell) – see area ‘A’ in the chart. After a strong run of outperformance since April, XRT peaked in late June and rolled over. The July correction tested support…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?
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