One of the big winners since December's market low has been the SPDR S&P Retail ETF (NYSE:XRT). This highly followed ETF rallied by 18 since its recent low made on December 26, 2018. The current pattern on the charts suggests that there could be another pop in this ETF very soon. Since XRT hit its 50-day moving average on January 9, 2019, it has been consolidating sideways. Currently, the XRT is trading at $44.01 a share and forming a nice sideways base. Often, when a stock consolidates in this manner, it is setting up for another move higher very soon. The equity might need to continue this sideways action for another week or so before resuming a move to the upside. The upside target for XRT is around $47. This ETF is now on my radar for a long trade should we consolidate throughout the rest of the week.
