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No Santa Claus Rally For Wal-Mart

|Includes:Wal-Mart Stores, Inc. (WMT)

This morning, many of the leading retail stocks are declining lower to start the session. Weak retail sales reports are certainly hurting the sector. There is also a lot of chatter that the minimum wage will increase dramatically in 2014, should this happen it will certainly hurt the bottom line. WMT stock is falling lower by $1.25 to $78.97 a share. Swing traders can watch for solid daily chart support around the $76.00 level which is where the 200-day moving average is. The next major support level for WMT stock is going to be around the $72.50 level should the stock decline further.

Nicholas Santiago

Stocks: WMT