STOCK MARKET BULLS EXCITED BUT NOT ASKING THE ALL IMPORTANT ‘PAY LATER’ QUESTION
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Investors Excited
Please click here for a chart of SPDR S&P retail ETF (XRT).
Note the following:
- The chart shows that the retail stocks have been rallying on strong consumer buying. Please see yesterday’s Morning Capsule for details of the strong Black Friday sales. Earlier, Adobe had increased its estimate of online Cyber Monday sales to $12.2B from the prior $12B. Now, the estimate has risen to $12.4B.
- Investors are excited and believe that the retail ETF XRT is heading towards the resistance zone shown on the chart.
November 28, 2023