Bulls Head Trading Analysis, LLC identifies and analyzes important trends and supply and demand levels in the financial markets.
“In financial markets, there are certain price levels that are more important and significant than others with regards to the amounts of supply and demand that exists at these levels. In addition, prices of securities are always trending. They are always doing one of three things…either going up, going down or staying the same as time progresses. BHT utilizes a common sense and simple methodology to identify these levels and trends. An understanding of these levels and trends will add Alpha to almost any investment process.“
-Mark Putrino, CMT
Looks like the S&P 500 Retail Sector may have finally broken the downtrend that began at the end of last year and now is in an uptrend. Here is a look at the XRTs...the Sector SPDR ETF. When they began the downtrend during last December, the were trading about $50. As you probably know, they recently found support around the $38 level. There was expected support around these levels because there was support there in February of 2014 and again in early 2016.