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10/23/2009 9:25:00 AM
Retail Composite Still Positive

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The S&P Retail Composite Index made new highs last week and is up over 28% since the July lows. The RS chart shows that the index outperformed the S&P 500 from late February until late April. Recently, the index has just performed slightly better than the S&P. Long-term resistance is 10% above current levels.

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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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