Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
S&P 500 – Is a 5% Correction Enough? - 6th Dec 21
Global Stock Markets It’s Do-Or-Die Time - 6th Dec 21
Hawks Triumph, Doves Lose, Gold Bulls Cry! - 6th Dec 21
How Stock Investors Can Cash in on President Biden’s new Climate Plan - 6th Dec 21
The Lithium Tech That Could Send The EV Boom Into Overdrive - 6th Dec 21
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Retail Sector Stocks - Will Black Friday be Black or "in the Green" ?

Stock-Markets / US Stock Markets Nov 24, 2007 - 11:22 AM GMT

By: Marty_Chenard

Stock-Markets 1. Its Black Friday, when retailers typically get 10% of their sales today. U.S. and Foreign markets will be closely watching what happens here today. Early this morning, Macy stores were reporting more traffic and sales than last year and they are expecting a really good day. The test for today comes around 2 PM to 3 PM when shoppers come back or drop in numbers. Watch for what happens in the markets from 3 PM to 4 PM today.


2.  Every year, two weeks before Thanksgiving , I go to the Tanger Mall in Blowing Rock, NC. Many of you are familiar with the Tanger Malls in the East. They are a discount mall with stores ranging from Polo, to Coach, to Bass Shoes ... and a variety of others. We found the mall incredibly busy with no parking to be found anywhere. People where parking on the grass and up steep embankments. I talked with some store managers about the traffic. From prior years, I noted that the traffic was equivalent to the day after Thanksgiving in prior years. All the managers commented that, as busy as that weekend was, the prior weekend was much busier. If this was an indication of what today's sales should be like, then I would expect a surprise in expectations. The question is whether or not the Tanger Mall traffic was representative of the rest of the nation. Late afternoon sales today will tell us. Keep an eye on the RLX - retail index.

Today's retail sales are really a big event for the stock market.  Good retail sales would be positive for retailers, charge card companies, shipping companies, and banks.  Foreign markets, especially China, are worried about our retails because it would have an important impact on their exports.

Since retail sales are so important today, I waited until 10 AM to do this update.  That way, we could take an early snapshot of what is happening.

I first looked at what the New York Stock Exchange Breadth was showing.  Its one minute chart is below for the past two trading days.

Wednesday morning was down, and as the day went on, the $NYBR continued to move higher.  At the end of the day, it had improved but was still in negative territory.

This morning, it shot up vigorously at the open as seen below.

The important index to watch today will be the RLX, Retail Index.

Note how this two day, two minute chart started moving up on Wednesday.  At the open this morning, it jumped up and was at an new intra-day high 20 minutes into the trading. 

Many analyst have been painting a picture of bleak sales this Christmas season.  The shoppers at the Tanger Mall were telling a different story before Thanksgiving.  What is interesting about the Blowing Rock location, is that shoppers travel 30 minutes to 2 hour+ to get there. They come in from Charlotte-NC, Tennessee, Virginia, and some from Georgia.  This long distance travel for these shoppers negates the stories being told that gas prices will deter people from shopping.

The big test for today comes around 2 PM to 3 PM when shoppers come back or drop in numbers.  Watch for what happens on the shopping scene from 3 PM to 4 PM today ... you can watch CNBC, or Bloomberg.  The tally for this weekend's sales will also be important for next Monday. The markets will close at 1 PM today.

 

By Marty Chenard
http://www.stocktiming.com/

Please Note: We do not issue Buy or Sell timing recommendations on these Free daily update pages . I hope you understand, that in fairness, our Buy/Sell recommendations and advanced market Models are only available to our paid subscribers on a password required basis. Membership information

Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools.  As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL.  He is an advanced technical analyst and not an investment advisor, nor a securities broker.

Marty Chenard Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in