U.S. Retail Index Continues Slide *PIC*
Here is a chart of the most heavily traded retail ETF. Somewhat at odds with the broader market.
The only time I put weight on a correlation is when one market is a large component of another, example EURUSD = 60% of DX.
Given U.S. retail is such a large component of the U.S. econ and of course the S&P 500, it is worth watching. The next bullish seasonal for retail is late winter with a peak in late spring. The big question is what will the broader market do for the next 1-1/2 months?
This decade we have seen a sizable seasonal slowdown for the 1st quarter in GDP growth in the U.S.