Thursday, June 28, 2012 12:22:23 PM
XRT_D
Of note, the Consumer Discretionary SPDR (XLY) edged lower and did not partake in Wednesday’s advance. XLY was weighed down by weakness in retailers as the Retail SPDR (XRT) declined half a percent.
As noted before, the consumer discretionary sector is the most important sector for predicting economic performance and retailers dominate this sector.
A wedge break in XRT would be quite bearish for the sector and the broader market.
Of note, the Consumer Discretionary SPDR (XLY) edged lower and did not partake in Wednesday’s advance. XLY was weighed down by weakness in retailers as the Retail SPDR (XRT) declined half a percent.
As noted before, the consumer discretionary sector is the most important sector for predicting economic performance and retailers dominate this sector.
A wedge break in XRT would be quite bearish for the sector and the broader market.
CHARTS: TREND AND MOMENTUM
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