Here come the retailers. After a string of positive consumer data showing confidence at a five-year high and decent same-store sales in October, many of our nation's top retail chains are set to report third-quarter earnings results this week. Forecasts from retailers like Wal-Mart and Target are arguably the best gauges of consumer strength now and the jam packed earnings lineup is sure to bring more clarity moving forward.
This morning, many of the leading retail stocks are trading lower to start the day. The important Market Vectors Retail ETF (NYSEARCA:RTH) is trading lower by 0.19 to $43.05 a share. The daily chart of the RTH is still holding up very well. Short term traders can watch for intra-day support around the $42.88, and $42.68 levels. ...
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.
Until about four trading days ago the important retail sector was leading the industry group in the stock market.. This morning, the retail sector is leading the major stock market indexes lower. The important Market Vectors Retail HOLDRS ETF (NYSEARCA:RTH) is trading lower by 0.38 cents to $41.34. This ETF will have intra-day support around the $40.85 area.
The two leading home improvement retail stocks are finally retreating today. The Home Depot Inc (NYSE:HD) and Lowe's Companies Inc (NYSE:LOW) are trading slightly lower on the session after making new 52 week highs yesterday. Both of these stocks remain above the daily chart 50, and 200 moving averages which indicate a strong technical chart position.
This morning, many of the leading retail stocks are declining lower to start the session. The important Merrill Lynch Retail HOLDRS ETF (NYSEARCA:RTH) is declining lower by 0.20 cents to $41.28 a share. This ETF will have intra-day support around the $41.25, and $40.93 levels.
Wal-Mart Is The Only Leading Retailer That Is Down Today
This afternoon, all of the leading retail stocks are trading higher on the session. The Merrill Lynch Retail HOLDRS ETF (NYSEARCA:RTH) is trading higher by 0.47 cents to $41.07 a share. This signals that most retail stocks are trading higher today. Other leading retail stocks such as Target Corporation (NYSE:TGT), Big Lots, Inc. (NYSE:BIG), and The TJX Companies, Inc.
The leading retail sector has been surprisingly strong despite the high price of gasoline in the United States. The Market Vectors Retail ETF (NYSEARCA:RTH) is finally declining this morning. The important and highly followed RTH is trading lower by 0.34 cents to $41.74 a share. Short term traders should watch for intra-day support around the $41.40, and $40.75 levels.
The retail sector has been extremely strong since late December 2011. The Market Vectors Retail ETF (NYSEARCA:RTH) has surged higher by more than $4.00 since that time. This morning, the RTH is declining lower by just 0.08 cents to $41.23 a share. Short term traders should watch for intra-day support around the $41.00, and $40.50 levels.
The major stock indexes are experiencing the first severe stock decline of 2012. The Dow Jones Industrial Average (DJIA) is trading lower by more than 200.0 points this afternoon to 12,750.29. The last time the DJIA closed down more than 100.0 points you have to go back to December 2011. Today's decline is broad based as almost every leading stock sector is trading sharply lower.
Thursday morning saw Gap (NYSE: GPS) and Target (NYSE: TGT) post February same-store sales that topped the analyst's estimates. This is partly down to the fact that a winter that did not get anything like as cold as one would normally expect resulted in a boost in the purchases of spring clothing.
The Gap Inc (NYSE:GPS) is a global specialty retailer offering apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. The Gap Inc achieved its new 52 week high price of $23.57 where it was opened at $22.87 UP 0.54 points or +2.35% by closing at $23.52.
This morning, the retail sector is showing some strength. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading higher by 0.06 cents to $39.50 a share. Traders can watch for intra-day resistance around the $39.58, and $39.70 levels. The daily chart remains strong and in an uptrend at this time. When the retail stocks hold up and trade higher this is a sign of consumer spending.