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Retail Prepares to Resume Downtrend

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I had been having a grand old time shorting retailers, but they picked up some serious strength last week. In spite of this, I think the pattern is wholly intact, and the bounce to the neckline merely presents another shorting opportunity. From what I’ve read, next week is seasonally super-bearish, so we’ll see if we can get another round of selling going.

0825-xrt