Retail Stocks Signal Early Strength
This morning, the leading retail stocks are showing early strength. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading higher by 0.11 cents to $41.23 a share. This leading ETF has been under selling pressure since May 1, 2012 when it traded as high as $42.69 a share. Short term traders should watch for intra-day resistance around the $41.50, and $41.80 levels.
Some of the leading retail stocks that are climbing higher today include The TJX Companies, Inc. (NYSE:TJX), Ross Stores, Inc. (NASDAQ:ROST), Nordstrom, Inc. (NYSE:JWN), and Bed Bath & Beyond Inc. (NASDAQ:BBBY). Traders should remember that all of these stocks could trade higher if the major stock indexes catch a bid today as they are signaling strong relative strength.