RTH Retail Weekly Chart Negative Divergence
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. 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.
If the parade is over in RTH, how does that effect those who do well when it does well, such as V, MA, etc?
ReplyDeleteKeystone, Interesting that Jim Cramer had a segment on RTH on his show last night. It was about his "chart guy" saying that RTH was looking like it was going to break out. What did you think of it, if you saw it? Thanks, Rich
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