Stocks moved sharply lower on Tuesday, but the Retail SPDR (XRT) bucked the trend and closed with small gain. The chart below shows XRT breaking flag resistance with a gap up four day ago and closing higher the last five days. ALso notice that the price relative recorded a 52-week high.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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