[Update at 6.15pm - Added the primary channel, which we hit the underside of today.]
I take my dog for a walk every day. I tend to use the same route, going past Abercrombie and Fitch, The Gap, Brookstone, etc. In General they have been pretty empty for the past few months and always seem to have a sale on. This is why I am constantly amazed at the rise of the retailers stocks. Today the XRT (Retail Index) hit the 78.6% retracement of the 2007 to 2008 decline. Reality should come home to bite pretty soon. Chart below.
