Retail Stocks Finally Pause

The retail sector has been extremely strong since late December 2011. The Market Vectors Retail ETF (RTH) has surged higher by more than $4.00 since that time. This morning, the RTH is declining lower by just 0.08 cents to $41.23 a share. Short term traders should watch for intra-day support around the $41.00, and $40.50 levels. The uptrend on the daily chart remains intact for the RTH at this time.

Some leading retail stocks that are trading lower today include Home Depot Inc (NYSE:HD), Costco Wholesale Corp (NASDAQ:COST), and Target Corp (NYSE:TGT). All of these stocks still remain strong on the daily chart despite the small intra-day pullback.

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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