Little Retail, Little Retail, Let Me Come In

Just one more push higher in the XRT (ETF for retail stocks) now, and we should be able to more definitively say that the thrust lower in August was a false breakdown. 

The XRT daily chart, updated below, indicates as much, what with another trading session today where retail stocks impressively outperformed many other sectors. 

True, it may simply be a mere overdue relief rally. 

However, when we look below the surface at some of the technical strides taken by names like URBN, it sure makes us think there may be a bit more meat on the bone to this rally than some think. 

Considering the strength of the broad market, retail bears have had a relatively easy go of it in 2017. But they ought not become too comfortable right here as downtrodden bulls seem to be galvanized in names like GES. 

As for XRT, the $42 level, just above, figures to be the autumn battleground off of which to key for resolution.