I’ve been looking at the retail sector especially since the consumer willingness to spend has been shifting to services/ experiences and entertainment.
Household cleaning, groceries, pets, alcohol, recreational vehicles all have seen drops in spend from Q1 2022 to Q2 2022
Walmart has also started laying off people and have also seen a shift in consumer purchase behaviours due to inflation and pandemic lifestyle changes. I believe retails companies have already started becoming defensive
Risk Mitigation
There is a key S&R line at 73.02 and the final one at 75.72. Once we see break throughs on these we will need to close
Imagine Yourself Taking The Other Side
With the market becoming bullish since Mid May - June (NASDAQ & S&P). I think taking a bullish position is also possible in the short term. However besides market movement and a dropping oil price, I don’t see how the original bear situation has changed.
Look For New Information
What am I rejecting the current bull run, which is does make me uncomfortable
Next week we have earnings from Walmart, Home Depot, Target, Lowe’s, Bath & Body works. If I had remembered this I would not have entered
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