Monoprice Select Mini V2 retraction/stringing problem
The Monoprice Select Mini V2 uses a Bowden style extrusion system. Bowden extruders compress the filament in the tube where the gap between the filament and inner tube diameter allow for the filament to buckle slightly and compress causing a pressure build-up in the hotend. Without retraction this implies that the filament will start to ooze out of the hotend once you stop extruding.

From your settings can be seen that you are using retraction. The question now arises whether you retract enough? Furthermore, this stringing can be reduced by setting the correct settings for e.g. print temperature, retraction, coasting, travel speed. It is up to you to find the correct settings; test print objects like calibration prints (like in the image you showed) help you with finding the correct settings. 

Apparently, the retraction you use still allows for some filament to ooze out of the hotend as shown in your image. This means that prior to the travel move there is still some pressure left in the hotend. A parameter that reduced the pressure prior to the travel movement is called "coasting"; basically you define to stop extruding while the head is still completing the printing moves prior to the travel move. It is advised to explore this setting. Other options to investigate further include lowering filament print temperature or increase travel movement.