Let’s make this real easy.
After inflation data, speculation on the next moves from the FED, fears of recession, calls for soft landing and so forth and so on, I want, no crave, simplicity.
Calling on my Economic Modern Family, we got 2 of them offering us the easy answers of what comes next in the overall market.
Our dear Granny Retail XRT will tell us a lot after the economic data already out, and then the retail sales and earnings reports.
Above is a weekly chart.
And I think it’s pretty clear-
With price sitting right on the 200-weekly moving average, if XRT closes above it or below it, next moves will be obvious.
For those playing along, that number is 73.50-write it on a post it and paste it to your computer screen.
Transportation IYT.
Charles Payne asked me about it on his show this week (clip below).
IYT directly ties in with retail-if people are buying, goods are moving.
This is a weekly chart.
With price sitting right on the 50-weekly moving average, if IYT closes above it or below it, next moves will be obvious.
For those playing along, that number is 64.25-write it on a post it and paste it to your computer screen.
Yes friends, with some patience and a plan with real numbers, you can do this.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
