No One Talking About It:
As this week comes to a conclusion, the XRT is down 6% this week so far, and if that holds it would be its worst WEEKLY showing in 13 months. The WEEKLY chart shows an ugly bearish engulfing candle heading into Friday, and perhaps a retest of the ascending triangle breakout near 72.50 is in store. It is a broader retail ETF than the top-heavy XLY, which was cruising, but the AMZN bearish dark cloud cover candle today after it registered 3 consecutive doji candles between 3/27-4/1 makes this fund fell ready for lower PRICES. The top 2 holdings in the XRT in GPS and GES both represent just 1.7% of the fund and the former is lower 8 of the last 9 sessions, and the bull flag that looked in place may now turn out to be some back and filling into the cup base breakout pivot of 22.02. The weakness in the XRT should be looked as meaningfully as it represents a large swath of the consumer group. Maybe chatter will start to heat up that AMZN is just too dominant eating market share among its smaller peers in the sector.