Retail stocks are surging today on the back of solid retail sales and great earnings from Best Buy Co., Inc. (NYSE:BBY). The Retail HOLDRs (ETF) (NYSE:RTH) is higher by $1.33 to $94.59 (+1.45%). While this move in the retail stocks off of great retail sales numbers and earnings from Best Buy is helping the markets stay higher today, the RTH just slammed into the 200 moving average on the daily chart. Right away this has to alert traders that the retailers may stall out and pull back in the coming days. In addition, the markets are barely positive on this good data. This move by the RTH could also point to a pull back coming in the markets in the coming days. Be on watch.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
