Retail Pops, Can It Last?
This morning, the leading retail stocks are trading higher. The important and highly traded Retail Holder Trust (NYSEARCA: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.