Retail Stocks Feel The Heat

The leading retail sector has been surprisingly strong despite the high price of gasoline in the United States. The Market Vectors Retail ETF (NYSEARCA:RTH) is finally declining this morning. The important and highly followed RTH is trading lower by 0.34 cents to $41.74 a share. Short term traders should watch for intra-day support around the $41.40, and $40.75 levels. The daily chart of the RTH remains in an uptrend as price is still trading above the 50, and 200 moving averages.

Some leading retail stocks that are coming under early selling pressure include Best Buy Inc (NYSE:BBY), Big Lots Inc (NYSE:BIG), TJX Cos Inc (NYSE:TJX), and Target Corp (NYSE:TGT). Most retail stocks remain strong, however, there are a few leading stocks in the sector which are beginning to break down. Overall, the RTH is still technically strong on the charts.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

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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