ZeroHedge: the retail bubble has burst.

Zerohedge reports that retail CEOs are squealing like stuck pigs at their collapsing business with some saying it hasn't been this bad since 2009.  Let's see what the retail charts are telling us.  First there is Macy's.  If it makes a lower low than the recent low I suspect it will bottom sub $20.



Next we see that Target is in literal free fall trying to see if it can beat Macy's to the bottom.



Wal-Mart looks like it could move up higher before it turns down very hard to a lower low than black 1.


TJMax has been on a roll as all the shoppers begin looking for bargains but their chart is now a full 5 waves up and so a very good sized pullback is already built into the cards despite recent upbeat articles like this one about the company.



I wonder how long it will be that the government stops lying about the economic figures and finally admits that we are in a significant recession.  Actually I know the answer and it is, "when left with no other option".