NEW YORK ( TheStreet) -- Recent readings on consumer confidence have been weaker than expected and Wednesday we'll get the Retail Sales for October which are expected to show a rise of 0.3%. Next week we get the November reading of the Conference Board's Consumer Confidence index, which is expected to rise slightly to 73.0, still well below the 90 to 110 neutral range.Meanwhile the Market Vectors Retail ETF (RTH) ($60.61) traded to a new multi-year high at $61.31 on Friday and is overbought on its daily chart and well above its 50-day and 200-day simple moving averages at $57.19 and $52.78. My weekly value level is $60.42 with a monthly risky level at $61.34. The performance of this ETF seems to point to better than expected holiday sales, while a report from Morgan Stanley projects that this year's holiday season will be the weakest since 2008.
Holiday Sales, Housing Recovery Are Key to Recovery
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