Stocks Analysis by Michele Schneider covering: SPDR® S&P Retail ETF. Read Michele Schneider's latest article on Investing.com
We like that as it represents the major shopping habits of Americans, or 68% of the GDP.And one could also argue that while true, for how long can that go on?
The definition of recession is 2 quarters of declining GDP. Although we had that in the spring of 2022, the US quickly came out of it by the fall of 2022.What is great about chart reading is that we can gauge the GDP based on XRT's performance ahead of the quarterly numbers the government releases.The Phase-with the return under the 200-DMA while the 50 DMA is above the phase is distribution.Calendar Ranges-XRT could not clear above the July 76-month calendar range high .
Should XRT break the July calendar range low, we will once again be talking about the 80-month moving average or the 6–7-year business cycle low. For now, we are cautious and thinking that the damage from the rapid acceleration of rates and that that acceleration of rates did not help food or energy costs go down. Recession is still very much on the table.
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