If the chart breaks back down into the channel of that 4th wave horizontal triangle then run, do not walk, to sell all long positions and flip short. This one bears watching closely (no pun intended).
Sunday, August 24, 2014
Calling a top on the overall retail sector.
I've been watching the retail sector ETF (ticker: RTH) waiting for the right time to create a very first post about it. My model indicates that now is that time. Since wave red 5 is now about the same length as red 1, I think that th 5th of C is now over or very, very close to it for RTH. If retail is going down it will be doing so in good company.
If the chart breaks back down into the channel of that 4th wave horizontal triangle then run, do not walk, to sell all long positions and flip short. This one bears watching closely (no pun intended).
If the chart breaks back down into the channel of that 4th wave horizontal triangle then run, do not walk, to sell all long positions and flip short. This one bears watching closely (no pun intended).
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