Retail Under Assault

This morning, the leading retail sector is coming under some selling pressure. The important and highly followed Market Vectors Retail ETF (NYSEARCA:RTH) is trading lower by 0.20 cents to $43.80 a share. Last week, the RTH made a new 52 week high and remains very strong on the charts despite today’s small decline. Short term traders should watch for intra-day support around the $43.60 level.

Some leading retail stocks that are declining lower today include Lowes Cos Inc (NYSE:LOW), Best Buy Inc (NYSE:BBY), Lululemon Atheletica Inc (NASDAQ:LULU), and Dollar Tree Inc (NASDAQ:DLTR). The retail sector remains one of the most important industry groups that traders can follow. Should this industry group begin to correct traders should be on guard as this could affect the entire stock market. Consumer spending accounts for roughly 70.0 percent of the gross domestic product (GDP) in the United States.

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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