While many expected cheap gasoline prices to translate into increased spending, data suggest Americans are saving more and looking to reduce debt rather than going shopping.

Another, new entrant to the retail ETF market focuses on online retailers. The Amplify Online Retail ETF (NASDAQ: IBUY) launched last month. IBUY seeks to replicate the price and yield performance of the EQM Online Retail Index (IBUYXT). The rules-based index is comprised of a diverse group of companies that generate at least 70 percent of their revenue from online and virtual retail sales.

“The daily chart of the retail sector (XRT) provides a more tactical view of this sector’s recent struggles. After an aggressive rally off the February lows, price put in a failed breakout above the 61.8% retracement of the July-February decline and confirmed the bearish divergence in momentum. Prices have not been able to close above that level in the weeks since and are now rolling over. Not a good sign for retail stocks,” adds See It Market.

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