Joined Apr 1, 2010
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Hi, just a few comments on your retail weakness analysis. Yes, there are quite a few who are turning over, but XLY is not really the ETF to capture that, as that one contains far too many media, hotel, casino, restaurant and cruise ship companies to be a good measure for retail stocks. All these sector are obviously relevant to consumer spending strength or weakness, no doubt.
XRT is a pure retail instrument, but just as badly constructed as most ETFs. There are some tiny (mkt cap wise) retailers who are the largest components. At present, for every one of these little names who are turning over, there are some who still have “stupid” strong charts, ie. SAH LAD PAG GPI FINL FL TIF SIG. If you want the whole index to turn from neutral to negative, I guess we would need to see some of these to show some sign of cracking first. Enjoy digging below the surface of these ETFs, 🙂