The performance of the Retail Sector is a nice barometer for the economy. And the Retail Sector ETF (XRT) is currently trading into important price resistance.
This resistance is formed between $89 and 92.50, levels that have been tested 6 times over the past 10 months.
As you can see in today’s featured chart, this level also marks the top of a 10 month price range.
A breakout here would be very bullish for the sector, while offering a bullish data point about the economy. Stay tuned.
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$XRT Retail Sector ETF Price Chart
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
