The chart below shows the Retail SPDR (XRT) bouncing off a support zone and remaining in an uptrend. For relative strength, the first indicator window shows the StockCharts Technical Rank (SCTR) above 90, which means XRT is in the top 10% of our ETF universe. The second window shows the price relative (XRT:SPY ratio) bottoming in early October and moving higher. This means XRT is outperforming SPY the last 3-4 months.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.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.
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