Don't Ignore This Chart!

Retail SPDR establishes clear resistance

The Retail SPDR (XRT) is finding support just above the rising 150-day EMA with two white candlesticks in the last four days. There was a follow through attempt on Wednesday, but the ETF closed weak to establish resistance instead. Look for a move above Wednesday's high to reverse the five week slide.

100526xrt Click this image for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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