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 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.

Emulex Corporation (NYSE:ELX) recently announced preliminary results for its second quarter of fiscal 2012, which ended on January 1, 2012.

Second Quarter Financial Highlights

Total net revenues of $127-$128 million exceeding the high end of guidance of $121-$127 million