“Despite a weak economy and a growing fear that consumer spending remains slow, the retail sector is proving to be an impressive hot spot within the market. Since tagging a bottom in March, the S&P Retail SPDR (XRT) has more than doubled in value as it trades above its 80-week and 160-week trendlines. What’s more, the XRT crossed above the 61.8% Fibonacci retracement of its June 2007 peak and its November 2008 low. This level is at 34, which coincidentally posed a major challenge for the XRT from February-September 2008,” Jocelynn Drake Reports From Schaeffers Research.

“Analysts have largely shrugged off the strength in the retail sector and remain resolutely pessimistic toward the group. In fact, only 42% of the 951 analyst rankings on retail stocks are “buys,” according to Zacks, leaving plenty of room for potential upgrades,” Drake Reports.

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Here’s a look at the Retail ETF below:

The investment (XRT) seeks to replicate as closely as possible, before expenses, the performance of an index derived from the oil and retail segment of a U.S. total market composite index. The fund uses a passive management strategy to track the total return performance of the S&P Retail Select Industry index. The index represents the retail sub-industry of the S&P Total Market index. As of September 30, 2007, the Retail index was comprised of 60 stocks. It is an equal weighted market cap index. The fund is nondiversified.

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ETF BASIC NEWS, XRT