[Video] Retail Stocks (and Copper) Are On Sale! (TGT, HG, Gold)
Matt Simpson August 19, 2021 3:35 AM
Weak retail sales and a Fed on-track-to-taper weighed on equity markets and retail stocks in particular. Copper also broke below a key support level during risk-off trade.
Were it not for the stronger US dollar then gold would likely be trading higher. But we see its potential for another leg higher due to technicals for the dollar and gold. So, we take a look at spot gold prices (XAU/USD), then update our analysis on Target (TGT) and copper after they broke key levels yesterday.
S&P 500: Market Internals
S&P 500: 4400.27 (-1.07%), 17 August 2021
- Consumer Discretionary (0.145%) was the strongest sector and Energy (-2.39%) was the weakest
- 10 out of the 11 sectors traded lower on the S&P 500
- 54 (10.69%) stocks advanced and 450 (89.11%) declined
- 78.02% of stocks closed above their 200-day average
- 56.04% of stocks closed above their 50-day average
- 44.55% of stocks closed above their 20-day average
- + 9.59% - Lowe's Companies Inc (LOW.N)
- + 5.57% - TJX Companies Inc (TJX.N)
- + 3.69% - ViacomCBS Inc (VIAC.OQ)
- -5.06% - Organon & Co (OGN.N)
- -4.22% - Steris plc (STE.N)
- -4.00% - Chevron Corp (CVX.N)
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