XRT-the retail stocks, have had a nice run from being oversold.
By my measures it is time to lighten up.
XRT-is at a Fibonacci .618 retracement, and there is a lot of over-head supply at about $46.50.
The phase energy is positive (lower indicator on top), but sagging.
RSI / Stochastic (top indicator) is over-bought, and likely to roll over (to the down side) soon.
The Ichimoku Cloud is drifting lower vs its level in May. This indicates a loss in upward momentum.
My opinion:
At best this is dead money. More likely, a decline will start soon.
Good luck to you. Don.
By my measures it is time to lighten up.
XRT-is at a Fibonacci .618 retracement, and there is a lot of over-head supply at about $46.50.
The phase energy is positive (lower indicator on top), but sagging.
RSI / Stochastic (top indicator) is over-bought, and likely to roll over (to the down side) soon.
The Ichimoku Cloud is drifting lower vs its level in May. This indicates a loss in upward momentum.
My opinion:
At best this is dead money. More likely, a decline will start soon.
Good luck to you. Don.
