RTH Retail Weekly Chart Two-Leg Bull Flag

RTH weekly chart shows the textbook bull flag over the last three years. Starting at 27.5 the first leg ended at 37.5 gaining 10.  The sideways consolidation then occurs in 2011 forming the flag, then price begins the ascent again from 31-32-ish, which would target 42-ish.  This target was achieved in April-May where the negative divergence (red lines) smack down occurred.  Note that price is attempting a matching or higher high now and the indicators are all lagging. If price does print a matching or higher high it should appear with further negative divergence. The candle thus far this week is printing a doji currently hinting at a trend change. Projection is for the retail sector to continue topping and rolling over. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.