Don't Ignore This Chart

Bearish Candlesticks Take Shape for the Retail SPDR

The bigger trends are clearly up for the Retail SPDR (XRT) as the ETF broke resistance with a big surge in January. However, XRT is short-term overbought after a big move and bearish candlesticks are taking shape. A harami-cross formed on Friday-Monday and a hanging man formed on Tuesday. A break below 66 would confirm this pattern and argue for a correction.

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