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Market Vectors Retail ETF Message Board

  • keybotthequant keybotthequant Dec 4, 2012 7:29 PM Flag

    RTH Weekly Chart Negative Divergence

    We have watched htese negative divergence spank downs occur this year. RTH appears to have topped and should roll over now, moving sideways to sideways down into 2013.

    Do not walk away from RTH, run! The retail parade is over. We watched this chart all year long. Keystone played the negative pull backs highlighted above which worked out well but continues to hold the thinly traded SZK, an inverse retail ETF, that has not been cooperative thus far. The rising wedge and negative divergence shows that retail has closed its last sale and swiped its last credit card; RTH should roll over moving forward. RTH can be shorted at will right now, a move above 45 only provides better short entries. Projection is 42-43 and lower as the New Year begins.

    For RTH chart use search box above for Keystone Speculator.

    Sentiment: Strong Sell

 
RTH
77.15-0.90(-1.15%)Sep 26 8:00 PMEDT