The Retail SPDR (XRT) is getting into the holiday spirit with a triangle breakout on Monday. The ETF has been lagging the broader market over the last two months. Notice that the S&P 500 is trading near a 52-week high, but XRT remains below its mid October high. Nevertheless, the triangle breakout is positive for the group and the consumer discretionary sector, which features many retail stocks.
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.
Learn More
