Retail Stocks Get Spanked

Today, most of the leading retail stocks are trading sharply lower. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading lower by 0.45 cents to $40.96 a share. This decline in the RTH indicating that most leading retail stocks are trading lower. The one leading retail stock that is trading higher today is WalMart Stores Inc (NYSE:WMT). This morning, WMT stock is trading higher by 0.27 cents to $67.57 a share. Short term traders should watch for intra-day resistance around the $68.05, and $68.26 levels. WMT stock is the only stock in the sector that is showing intra-day relative strength.

Some other leading retail stocks that are coming under selling pressure today include Home Depot Inc (NYSE:HD), TJX Cos Inc (NYSE:TJX), and J.C. Penney Inc (NYSE:JCP). All of these retail stocks continue to look very weak on the intra-day charts.

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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