If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Trend table status

Trend

SP-500

R2000

COMPX

Primary

Up 7/31/20

?- 3/31/20

Up 5/29/20

Intermediate

?+ 9/25/20

Up 8/21/20

?+ 9/18/20

Sub-Intermediate

?- 9/15/20

Dn 9/11/20

Dn 9/21/20

Short term

? 9/4/20

? 8/18/20

? 9/4/20


Don Worden of Worden Brothers (makers of Telechart software) used to keep a trend table before his health issues got in the way. I always found it useful. Mine is slightly different. Hopefully helpful. Up? or Dn? means loss of momentum. ? by itself means trend is neutral. ?+ or ?- means trend is neutral with bias of up(+) or down (-)

Tuesday, February 19, 2013

Retail sector

I think it may be time to take a look at the retail sector.  There are two ETFs to look at here (RTH and XRT).  Here are the monthly charts of both.


Both of these ETFs are way above their 2008 highs.  Retail has clearly been a leading sector in this bull market.  They closed a lot of stores in the last recession and that likely helped their profitability.  Both of these charts are showing some upper tails in the recent months.  It looks like there is some resistance in this area.

Lets look at the daily charts.




RTH has been a little weaker then XRT lately. It already had two large red volume bars before today.  XRT has had a lot of big green volume bars.  Both of them had high volume down days today.  Apparently there was a news story about very poor sales at Walmart to start the month of Feb.  I don't know if the story is valid or if there will be any lasting affects or not.  However, both the monthly charts look like they are ripe for a pullback.  The story might just provide the excuse.  This is a market leading sector so what happens here could be important for more then just retail stocks.

Bob

No comments:

Important

The information in this blog is provided for educational purposes only and is not to be construed as investment advice.