“XRT has been on fire since early July, as many retailers beat earnings expectations this quarter. What has yet to be determined is whether XRT can break penultimate resistance formed in late 2015 and again in April/May of this year. If it can, then a run back to ultimate 2015 highs could be targeted,” according to See It Market.
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Recent bullishness in retail names is also helping broader discretionary ETFs such as the Consumer Discretionary Select Sector SPDR (NYSEArca: XLY).
“XLY is currently breaking to new highs, clearing the highs from the end of 2015 after testing the penultimate highs from Summer 2015 and April/May of this year, holding above shorter and longer term trends,” adds See It Market.
For more news and strategy on the Retail ETF market, visit our Retail category.
SPDR S&P Retail ETF
