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Retail Blow Off Top: Topping Tail Signals Sell

The SPDR S&P Retail ETF (XRT) surged higher today as stocks like Macy’s (M)  and Bed Bath & Beyond (BBB) saw major short squeezes. After closing Friday at $74.95, the XRT surged as high as $82.51. However, very quickly it fell, collapsing close to the flat line. This should raise alarm bells with investors as it signals a blow off top with institutions pounding price back down. In addition, should the XRT close here, it would create one of the most epic topping tails in recent history. Investors should take this as a huge warning shot.

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XRT blow off top shown on the chart below + the topping tail…