What Do the Charts Say About Retail?
Web Editor, "Mad Money"
“America may no longer be the engine of the global economic recovery,” Cramer said Tuesday. “We’re more like the caboose actually. We may no longer be the world’s premier industrial manufacturing nation. We may be losing all kinds of highly skilled tech jobs to India and China. But there is still one area where the American people are without rival: shopping.”
With the holiday shopping season upon us, Cramer wanted to take a closer look at the retail sector. All week he’s highlighting his favorite stocks from the group, but he also thought it was important to view the industry as a whole. One of the best ways to do that is by looking at the chart of the Retail HOLDRs exchange-traded fund RTH, a widely used stand-in for all things retail.
For an expert analysis of the RTH chart, Cramer turned to highly regarded technician Tim Collins. Watch the video to find out why the ETF looks “surprisingly positive,” as Cramer described it, even in the face of the media’s “relentless morbid negativity” about this sector.
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