Retail Stocks Trade Higher Despite Early Market Decline
This morning the major stock market indexes are trading lower across the board. The decline is very broad based as most leading sectors including technology, and energy, are trading lower. There is one sector that is posting green on the screen and that is the retail sector. The Retail Holders Trust(NYSE:RTH) is trading higher by 0.25 cents to $108.54 a share. Normally, when the market gaps sharply lower the retail sector is the first to decline as this sector usually represents consumer spending. The RTH will have some intra-day resistance around the $109.00 and $109.50 levels.
Wal Mart Stores Inc.(NYSE:WMT) is trading higher this morning by 0.46 cents to $53.28 a share. This leading retail stock should have some resistance around the $53.35 level and more around the $53.65 area.
Other leading retail stocks that are trading higher this morning include Kohls Corp.(NYSE:KSS), Target Corp.(NYSE:TGT), and J.C. Penney Inc.(NYSE:JCP). Should the major stock indexes find a low today and start to rally higher these leading retail stocks are going to likely trade higher as they are showing intra-day relative strength.