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Wal-Mart Sinks Retail

This morning, leading retailer Wal-Mart Stores Inc (NYSE:WMT) is coming under heavy selling pressure to start the day. This decline is certainly weighing on the retail sector. Short term traders should watch for intra-day support around the $68.92, and $68.50 levels.

Some other leading retail stocks that are falling lower at the start of the trading day include Costco Wholesale Corp (NASDAQ:COST), Target Corp (NYSE:TGT), and TJX Cos Inc (NYSE:TJX). Generally, when the leading retail stock is lower many stock in the industry group will follow.

Post by: Nick Santiago