Retail Pops, Can It Last?

This morning, the leading retail stocks are trading higher. The important and highly traded Retail Holder Trust (NYSE:RTH) is trading higher by $1.22 to $109.84 a share. This is a very solid move for the RTH. Traders should watch for intra-day resistance around the $110.00, and $110.50 levels. When the retail sector is rallying it is usually a sign that the U.S. Consumer is spending money. Consumer spending accounts for approximately 70.0 percent of the gross domestic product (GDP) in the United States. This is the reason why the politicians constantly want the public to spend money.

Some leading retail stocks that are trading higher today include Home Depot Inc (NYSE:HD), Lowes Companies Inc (NYSE:LOW), WalMart Stores Inc (NYSE:WMT), and Costco Wholesale Corp (NASDAQ:COST). All of these stocks are facing some minor resistance on the daily charts, therefore, these stocks may need a little more consolidation before advancing much higher. In any case, all the leading retail stocks are holding up well at this time.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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