Granny Retail-Can the Consumer Hang in There?
Granny Retail-Can the Consumer Hang in There?
Written by Michele ‘Mish’ Schneider
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 by all means, not the only one. IBUY is another one to look at for more e-commerce names. IBUY htough includes companies around the world while XRT is 100% United States.
Hence, XRT is Granny’s monkier 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%
XRT Sector Weights
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 Wholesal
National Vision Holdings Inc.
Doordash Inc.
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Mish in the Media
Business First AM 08-24-22
Business First AM 08-23-22
BNN Bloomberg Before the Bell 08-23-22
Coast to Coast with Neil Cavuto 08-22-22
TD Ameritrade with Nicole Petallides 08-22-22
ETF Summary
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
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