Don't Ignore This Chart!

Retail SPDR Lags as SCTR Breaks Down

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The S&P 500 hit a new high in late December, but the Retail SPDR (XRT) fell short of its prior high and could be forming a lower high, which is the first step to a downtrend. The June trend line and December low mark key support in the 84-84.5 area. The indicator window confirms the deterioration in XRT as the StockCharts Technical Rank (SCTR) broke below 60 for the first time since January 2013.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. 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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