Retail ETF (XRT) Analysis. Failed Breakout

Today's move in the retail space looks like a rejection of the breakout from what seemed to be a three and a half year basing pattern. Also of concern is the relative strength chart vs the S&P 500, as seen below.

I'm not prepared to consider shorts in this market just yet as many indices and ETF's remain above key levels. But should these levels break, this could become an area of focus on the short side given the price action in these two charts.