Sunday, November 19, 2006

$RLX (Retail Index) Analysis 11.19.2006

The index is currently above the 34ema and the 20sma. Current market bias remains up, but possible pullback here is possible.

Possible 5 wave pattern completion. Watch for reversal pattern off the daily chart to confirm.

Monthly chart showing a lot of strength, and current market bias remains up. We are above the important moving averages, especially the 34ema.

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