Apparel Retailers had a decent base forming at the 200 day moving average. It tried to break out early last week and, of course, failed in spectacular fashion.
Looking longer term we see a five year trend breaking.
This breakdown is coming right in the heart of back to school season. I think we should respect it unless last week's highs are recaptured. Support areas to watch: 795(level), 770-750 area. 725, 690.
Trade 'em well!
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