The Daily Chartist: Retailers Ring Up Improvement - TheStreet

The Daily Chartist: Retailers Ring Up Improvement

The Chartist says the retailers are continuing to make progress. Gap, Nordstrom, Dayton Hudson and Limited are all bottoming stocks.
Author:
Publish date:

Dec. 13, 1999

Now, we all know Friday's

action was not very broad, but maybe we should consider it a victory that the advance/decline line was positive. Many days, it doesn't get that far. The

New York Stock Exchange

remains moderately oversold. I say moderately because there is still a likelihood that it will get even more oversold before the

Dow

takes out its old high.

Technical Analysis: Join the discussion on

TSC

message boards. In any case, aside from the continued improvement in the financials, retailers are also showing improvement. I mentioned the

retailers a few weeks ago and would like to point out that they are again making progress. Maybe it's just their time of the year, but they have backed off on lesser volume, which is positive action. While

Gap

(GPS) - Get Report

is still OK, it has had quite a move and should digest some of these gains. But I find that I am also jotting down

Limited

(LTD)

,

Nordstrom

(JWN) - Get Report

and

Dayton Hudson

(DH)

, in addition to the Gap, as bottoming stocks.

New Highs and New Lows

Overbought/Oversold Oscillator

Cumulative Advance/Decline Line

Helene Meisler, based in Singapore, writes a technical analysis column on the U.S. equity markets on Tuesdays and Fridays, and updates her charts daily on TheStreet.com. Meisler trained at several Wall Street firms, including Goldman Sachs and Cowen, and has worked with the equity trading department at Cargill. At time of publication, she held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. She appreciates your feedback at

KPMHSM@aol.com.