Looks like XRT (retail ETF) is forming a wedgie with divergence. Doesn't look complete yet though, no position.
Retail numbers were good last Friday but the profits aren't there and earnings sucked across the board (except LULU, lol) so there's really no compelling reason for a retail rally. AMZN and WMT are gonna bankrupt everyone else.
If I was gonna invest in retail, I'd go with dollar stores. Not my thing but I drove my mom to one over the weekend, sat in the car and watched the customers walk in. All Latinos and other minorities (and the overall percentage is low in my area). That's where they're making their money, cheap immigrants who don't care about name brands. And seniors like my mom, lol. Over a mil in assets and she sill goes to dollar stores.
Retail numbers were good last Friday but the profits aren't there and earnings sucked across the board (except LULU, lol) so there's really no compelling reason for a retail rally. AMZN and WMT are gonna bankrupt everyone else.
If I was gonna invest in retail, I'd go with dollar stores. Not my thing but I drove my mom to one over the weekend, sat in the car and watched the customers walk in. All Latinos and other minorities (and the overall percentage is low in my area). That's where they're making their money, cheap immigrants who don't care about name brands. And seniors like my mom, lol. Over a mil in assets and she sill goes to dollar stores.
Note
Wedge now looks complete, time for the drop?Note
This charting thing works, lol.Note
Drifting sideways, will probably close this tomorrow...Trade closed manually
Flipped the puts for a small profit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.