Will This Breakout Fail…YES!

January 7th, 2010

This Thursday morning the stock market futures pointed to a lower open across the board. There is a lot of new coming out today about retailers and expectations for their December sales reports. One of the first to report, Costco Wholesale Corp., beat forecasts but said some of its gain was due to gasoline sales and the weak dollar – not good of course. We would have to see what the other big name come in at later on too – Wal-Mart, Target, etc. Here is a look at the RTH – the retail holder ETF for the last couple years.

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