October 17, 2013 at 10:15 AM EDT
The Technicals Are Bullish For This Retail ETF
NYSEARCA:XRT Related posts: The Technicals Are Bullish For The Guggenheim Solar ETF Technicals Are Looking Strong For The PowerShares Aerospace & Defense ETF (PPA) Extremely Bullish Signs For This Water ETF United States Natural Gas Fund, LP May Be Forming A Bullish Double Bottom Pattern A Bullish Signal For The Market Vectors Semiconductor ETF (SMH)

sellbuyMorpheus Trading: SPDR S&P Retail ETF (NYSEARCA:XRT) has formed a bullish, 11-week consolidation, with most of the action holding above the rising 10-week moving average.

Last week’s bullish reversal candle on a pick up in volume is also a clear sign of support. As such, look for $XRT to breakout to new highs in the near-term. Here’s the weekly chart of $XRT:

$XRT BASE

On the shorter-term daily chart of $XRT below, we see that the 20-day EMA has crossed above the 50-day MA, and the 200-day MA is in a strong uptrend.

There is also a higher “swing low” within the base, which was created by last week’s “undercut” of the 50-day MA. All these factors confirm a valid uptrend is already in place.

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  2. Technicals Are Looking Strong For The PowerShares Aerospace & Defense ETF (PPA)
  3. Extremely Bullish Signs For This Water ETF
  4. United States Natural Gas Fund, LP May Be Forming A Bullish Double Bottom Pattern
  5. A Bullish Signal For The Market Vectors Semiconductor ETF (SMH)

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