February 26, 2024
Mish's Daily
By Mish Schneider
November 15, 2021, Granny Retail XRT made a new all-time high at 104.31.
Currently, with SPY DIA QQQ and many other tech stocks making new all-time highs, XRT remains stronger now than in recent times, but quite far from the 2021 splendor.
Touting the “Vanity” trade, or one where folks turn more to “all about me” has been a main theme of ours this year.
A domino effect from the diet drugs made by Novo-Nordisk (NVO) and Eli Lilly (LLY) (both stocks on all-time highs), we believe this will spill over to beauty, fashion, skincare, working out and maybe-dating.
Not only do the diet drugs lead the way to sustained weight loss, BUT AI ALSO keeping folks sequestered will foster an eventual need for folks to socialize face-to-face.
And with 38% of Americans alone suffering from obesity, imagine what that could mean if a big portion of these folks lose weight once and for all and decide to show off!
And what member of the Family will benefit the most?
Granny Retail (XRT).
If you look up the holdings, Abercrombie and Fitch (ANF) is the second largest in the XRT basket.
That stock has been on fire.
Regardless, a couple or noteworthy technical indicators.
Note: We are including HYG as part of the ETF write-up as this is a lead indicator for risk on/off.
For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
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Mish in the Media - All clips here
CMC Markets Technical Set-up in gold, silver, Nvidia and SPX 2-20-24
Business First AM Mish lays out the 3 major criterial and teach you tactical/practical ways to assess a top (all in 3 minutes). HYG IWM January calendar range When Is It Time To Take Profits? 02-20-24
Final Bar with Dave Keller StockChartsTV Guest Mish breaks down the four charts she's watching during a market pullback and why she remains constructive on stocks 02-14-24
Business First AM Check out Mish’s newest stock pick to keep on your radar 02-13-24
BNN Bloomberg Valentines Day-What stocks do you love, want to marry, regret not holding 02-12-24
Financial Sense with Jim Pupluva Credit card balances for US consumers are climbing. Is this yet a concern for the market and economic outlook? 02-07-24
The Money Life with Chuck Jaffee Where Mish sees the markets going in the short and longer term 2024 podcast 02-06-24
Benzinga Morning Pre Market Mish sits with the team to discuss the recent job report and how a healthy economy is not the worst thing. It just means a reset of how investors invest 02-02-24
Kitco News An Article with Neils Christensen on the direction for gold 01-30-24
Coming Up:
February 26 CNA Asia First TV and Radio
February 27 Live Coaching
February 29 Yahoo Finance
February 29 Your Daily Five Stockcharts
March 1 Real Vision 3 Crypto Trades
March 6 Trader’s Summit
March 8 Schwab
Weekly: Business First AM, CMC Markets
ETF Summary
S&P 500 (SPY) 500 support 510 resistance
Russell 2000 (IWM) 195 support 205 to clear
Dow (DIA) 385 pivotal
Nasdaq (QQQ) 430 support
Regional banks (KRE) Back to the 45-50 range
Semiconductors (SMH) 200 support
Transportation (IYT 276 should hold
Biotechnology (IBB) 135 pivotal 139.50 resistance
Retail (XRT) 73 near-term support
iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold
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