Lululemon is gapping down on earnings despite a double beat. Nike is gapping down on earnings. A trend is showing weakness in these consumer discretionary based stocks. There will be many sympathy plays in the retail space. Watch XRT tomorrow.
The Monthly Consolidation on XRT is almost done and I suspect the next move down will be quite large. EMTY is an etf which is a 1x leverage against XRT. My view is EMTY can double from here. Good luck!
"Consumer retail is 70% of the economy". If anyone know where we are heading next, it should be the major big box and big web consumer retails names in the "WATCH" INDEX. WATCH is just Walmart Amazon Target Costco and Home depot added together.
Fedex is feeling the pinch of a global slowdown, as other companies have been warning. The companies says online shopping is down as consumers rather spend their time traveling and going to concerts with their disposable dollars.
so according to data market is bearish, making a symmetrical pattern on 1 min time frame, and breaks for the downside.
I am showing japanese candlestick pattern on 2 stocks which are showing in great pattern and could see some retracement
Video breakdown and analysis on $DLTR
See a potential buying opportunity for Amazon coming up. looks like nice 5 waves off a bottom and correcting now.