As Americans begin to shift money away from retail to vacations and leisure, retail spending is likely to fall sharply during 2021. Retail stocks will come in sharply from current levels.
The retail ETF XRT is slamming into 3 different converging trend lines of resistance. This alerts investors to begin accumulating shorts for a drop in the retail ETF XRT. Retail has had an insane run over the last few months as the reopening trade has taken hold. However, as Americans begin to shift money away from retail to vacations and leisure, retail spending is likely to fall sharply during 2021. Retail stocks will come in sharply from current levels.
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