Consumption remains important to the global community, especially to the U.S. economy… Is it possible to glean anything from Retail stock action of late?
Retail ETF (RTH) was up over 4% on the week (almost twice the gain of the 500 index), on an upside breakout from its potential negative “Head & Shoulders” pattern. Very powerful move above the highs reached a year ago at (1) in the chart above. Nasdaq continues to push higher and it fast approaching the highs set in late April.
This was a general info piece/general point piece, reflecting some things that are going on in the economy. I did not suggest prior to the breakout to pick up RTH. My bad.
If RTH comes back down to test resistance, which is now support, I will put a post out.
Hi Chris, are you implicitly saying to buy RTH with stop loss at(old) resistance? Wondering if we are just supposed to get the general point from the breakout post
Where Apple goes, the NDX is sure to follow.