This afternoon, the important and highly followed retail sector is lagging the major stock indexes. Traders and investors can track the retail stocks by following the Market Vectors Retail ETF (RTH). Today, the RTH is trading lower by 0.20 cents to $47.36 a share. Short term traders can watch for intra-day support around the $47.25 level. The daily chart of the RTH is holding up well at this time, traders should watch the $49.00 area as the next major resistance level.
Some leading retail stocks that are pulling back today include Target Corp (TGT), Wal-Mart Stores Inc (WMT), Costco Wholesale Corp (COST), and Dollar Tree Inc (DLTR). This sector is holding up very well considering the high gasoline prices at the pump and the higher payroll taxes that began at the start of the new year. Traders should remember at some point these higher expenses for the consumer could hurt the retail stocks.