Don't Ignore This Chart!

RTH Breaks May Low

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The Retail HOLDRS (RTH) broke below the May low with a sharp decline last week. Overall, it appears that a double top formed in May-June. The support break confirms the pattern and this ETF could retrace around 50% of its prior advance.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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