I have created another video recap for today’s Daily. The link to watch is below. The focus is on our Grandma of the Economic Modern Family — Granny Retail. I use the ETF XRT as the benchmark.
XRT is the largest retail ETF, but not the only one by any means. IBUY is another one to look at for more e-commerce names. IBUY, though, includes companies around the world, while XRT is 100% United States. Hence, XRT is Granny’s moniker, as it also offers exposure to many sub-industries with the retail industry, including apparel, drug retailers, departments stores and computer and electronics retailers.
It’s important to remember that the US consumer makes up approximately 70% of the our economy. Without Granny Retail’s shopping and consumerism, our ecomomy would not the largest in the world.
Click here to access the video of Mish, Granny Retail and chart analysis
Granny Retail, SPDR S&P RETAIL ETF (XRT)
- Fund Type: Consumer Discretionary ETF
- Benchmark Index: S&P RETAIL SELECT
- Date of Inception: 06/19/2006
- AUM: $256.96M
- Number of retail holdings in the ETF: 89
- Expense Ratio 0.35%
- Dividend Yield 1.64%
Top 10 Retail Sector Holdings
- Chewy, Inc.
- Grocery Outlet Holding Corp.
- Ollie’s Bargain Outlet Holdings, Inc.
- Rite Aid Corporation
- Dollar General Corporation
- AutoZone, Inc.
- O’Reilly Automotive, Inc.
- Costco Wholesale
- National Vision Holdings Inc.
- Doordash, Inc.
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- S&P 500 (SPY): 410 pivotal support, 397 major support, 423 resistance.
- Russell 2000 (IWM): 190 pivotal support, 180 major support, 199 resistance.
- Dow (DIA): 339 resistance with 319 major support.
- Nasdaq (QQQ): 312.50 pivotal support, 301 major support and 325 resistance.
- KRE (Regional Banks): 64.00 support, 68 resistance.
- SMH (Semiconductors): 222 the 50-DMA support and over 240 better.
- IYT (Transportation): Through 243 better and must hold 225.
- IBB (Biotechnology): 123 the 50-DMA support to hold, 128 resistance.
- XRT (Retail): 67.20 must hold on a weekly close. If not, looking at 66, then 65.00 next.
Director of Trading Research and Education