Citigroup Inc. (NYSE:C) reported in a research note Monday that nominal retail sales received a 0.4% boost during July, and sales (excluding autos) received its first monthly boost since April, by 0.2%. Citigroup's Steven C. Wieting wrote, "Most of the discretionary or cyclical merchandise categories of sales fell slightly in July, and give a soft but unsurprising impression of consumer activity, Assuming modest gains in service and retail spending in the next two months, real consumer spending is poised for another gain of about 1 .% for the third quarter. This is insufficient to maintain solid gains in production, employment and imports." SmarTrend alerted subscribers to take profits in Citigroup on May 05, 2010 at $4.14, since then the stock fell 6.8%. We are now watching for any positive developments that could result in a new uptrend signal. Citigroup is currently below its 50-day moving average (MA) of $3.97 and below its 200-day MA of $3.90. In the last five trading sessions, the 50-day MA has fallen 0.02% while the 200-day MA has slid 0.3%. Shares of the financial services holding company are trading down 0.39% Monday afternoon at $3.87. http://bizvid.tv/