Retail sector update.

In my previous post on the retail sector I modeled a top on the RTH ETF.  Turns out I was a tad early but the latest chart of the just the 5th wave, shown below, seems pretty clear: we are within a day or two of a top, and in fact the top could already be in.

Now, I must say the RTH chart leaves open the possibility that this peak will not be 5 of 5 but rather 5 of 1 of 5.  In the case we will only get a small pullback here to somewhere between $60.50 (the gap fill of the 3rd of 3rd and ~$62 (the level of the prior 4th).