• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Economic Modern Family–Granny Retail Takes a Bow
Stock

Economic Modern Family–Granny Retail Takes a Bow

by July 8, 2023
by July 8, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Sometimes, it’s just that simple.

The Economic Modern Family has had its share of rotation. By rotation this year, we mean that, while Semiconductors wowed, Regional Banks soured. We have looked to certain members of the Family to hold their lead and wait for the other members to catch up. Or, conversely, we have held our breath as we have watched the leaders take a pause while the laggards need to hang in there.

2023 has been a bit of a cha cha cha in that way. No doubt the consumer has participated.

First, the retail investor has gotten the rally right. Secondly, the consumer has gone out this year and spent money. That money has been mainly spent on services though that include restaurants and travel. However, year-over-year credit card spending continues to decline, with the low-income consumers showing the largest rate of decline. We ask, is this sustainable?

Let’s see what Granny Retail (XRT) has to say.

On the Daily chart, XRT is in a bit of a tight range between 63.00-64.50. We love the leadership against the SPY benchmark.

On the weekly chart, we got a second close over the 50-week moving average, or a confirmed phase change to a recuperation. SPY continues to show leadership on a weekly closing basis. Momentum is lagging considerably.

On a monthly chart, XRT has a far distance to go to clear the 23-month moving average. To see sustained expansion, that blue line has to clear.

Putting together all three timeframes, XRT is key. Granny has to breakout over 64.50. Then, we need to see XRT clear the 200-WMA at 65.80 area. Finally, on a monthly chart, we cannot get too excited unless it clears over 70.50.

It’s a battle for sure, and one that will give you the best heads up on recession, stagflation or expansion. At the very least, we can say for now that, while Granny may need her cane to bow, she is yet to leave the mall.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish, Brad Smith and Diane King Hall discuss and project on topics like earnings, inflation, yield curve and market direction in this appearance on Yahoo Finance.

Mish reviews her first-quarter trades in this appearance on Business First AM.

Mish talks women in the trading space and covers a wide variety of ideas in this interview for FreeFX.

Mish runs through bonds, modern family, commodities ahead of PCE on Benzinga.

Mish explains her bullish call on Bitcoin and provides her price target for the cryptocurrency in this video appearance on CNBC Asia.

Mish shares why the transportation ETF is such an important measure of economic strength and how retail stocks (XRT) continue to underwhelm on the Tuesday, June 27 edition of StockCharts TV’s The Final Bar with David Keller.

Mish discusses how business have been watching Russia in this appearance on Business First AM.

Read Mish’s commentary on how the situation in Russia impacts the markets in this article from Kitco.

Watch Mish’s 45-minute coaching session for MarketGauge’s comprehensive product for discretionary traders, the Complete Trader.

On the Friday, June 23 edition of StockCharts TV’s Your Daily Five, Mish covers a variety of stocks and ETFs, with eyes on the retail sector for best clues in market direction.

Read Mish’s interview with CMC Markets for “Tricks of the Trade: Interviews with World-Class Traders” here!

Mish delves into the potential next market moves for several key markets, including USD/JPY, Gold and West Texas crude oil in this appearance on CMC Markets.

Mish and Dale Pinkert cover the macro, the geopolitical backdrop, commodities, and stocks to watch on FACE Live Market Analysis and Interviews.

Mish and Ashley discuss buying raw materials and keeping an eye on Biotech on Fox Business’s Making Money with Charles Payne.

Coming Up:

July 12: Real Vision

July 13: TD Ameritrade

ETF Summary

S&P 500 (SPY): 443 now resistance, 440 pivotal and 430 support.Russell 2000 (IWM): 185 pivotal.Dow (DIA): 34,000 back to pivotal resistance.Nasdaq (QQQ): 370 now resistance with 360 support.Regional Banks (KRE): 40.00-42.00 current range.Semiconductors (SMH): 150 back to pivotal number.Transportation (IYT): 250 pivotal; under 245, expect more selling.Biotechnology (IBB): 121-135 range.Retail (XRT): 63 support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • The Smart Money Changes Gears; As Tech Weakens, New Leaders Appear
  • A Very Accurate Sentiment Reading That Is Flashing A RED Light For Bulls
  • Three Ways Top Investors Track Sector Rotation
  • Bullish Moxie Setups Working
Share
0
FacebookTwitterPinterestWhatsapp

previous post
7 New Tools to Help You Chart Highs, Lows, and Other Crucial Price Levels
next post
Fasten Your Seatbelts: Earnings Season in the Spotlight

You may also like

GNG TV: “Building” Go Trends in US Equities

May 18, 2023

The Ord Oracle November 13, 2023

November 14, 2023

Your Burning Questions, Answered: FATE of TESLA & Bullish Bias...

September 30, 2023

Cap-Weighted Leadership Is Unhealthy

November 18, 2023

Target Hit on SPY Pullback

February 24, 2023

Analysts are Bearish While Risk-On Explodes!

May 18, 2023

There is Less Junk Than There Used To Be

February 24, 2023

PRICE IS KING in Stock Trading!

January 25, 2024

Volatility Taunting Fresh Equity Buyers

September 23, 2023

What Does This Mean for the S&P 500 Rally?

August 20, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,630 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    A Bullish Opportunity in CrowdStrike (CRWD)...

    November 25, 2024

    How to Avoid Huge Drawdowns from...

    January 26, 2024

    The Hidden Meaning Behind the Tech...

    May 1, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here