XRT: The consumer is very much alive

The SPDR S&P Retail ETF (XRT) has the potential to break out from a mid 2022 into mid 2025 big base. The right side of this pattern reveals a bullish head and shoulders (H&S) formation. A decisive rally above the neckline at 84.71-85.22 would confirm the H&S pattern and suggest that the consumer is very much alive, signaling upside potential back to the highs that XRT reached in 2021 from the 98 area to 104.31. Until then, any dips that hold above the shoulder lows near 77.08-76.71 keep this bullish chart pattern intact.