SPG (Simon Property Group) has recently put in a divergent low following a 34% “death to all-things retail a la Amazon” bear market, as SPG is the world’s largest shopping mall REIT. Retail companies & the shopping mall REITs have certainly felt the pain from the shift towards online retailers but they are not dead yet. Even if this industry will continue to shrink in the coming years there will always be bear market rallies along the way. SPG is on watch for a potential long entry on a break above this primary downtrend line & bullish cross of the PPO signal line above the zero level. Unofficial trade idea at this time although price targets, suggested stops, etc.. will be added if this becomes an official trade setup or active trade.
SPG daily July 21st