Still, traders should note that some of the positive catalysts that previously boosted consumer spending are fading.
“Since late 2017, and arguably since the 2016 election, the market has been relying on tax cuts and deregulation to spur income growth and carry productivity past some costly trade wars,” said Direxion. “If the trickle-down in the cuts have plateaued, and workers don’t have the cash to throw around that some the market is expecting, it might just be a longer, colder winter for retail.”
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