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Yesterday, on well above average volume, the Retail HOLDRS ETF (RTH) undercut its 20-day EMA, and rallied to form a reversal candle as it closed near session highs. The high of today’s reversal candle could serve as a buy entry trigger for this ETF. Ideally, we would like to see RTH consolidate for a few days in a tight range before attempting a move higher. We are monitoring this ETF carefully for a possible buy entry.

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