NEW YORK ( TheStreet) -- The majority of earnings reports I previewed last week and this week are in the retail-wholesale sector, and most of these companies had buy ratings pre-earnings.On Aug. 13 I wrote Nordstrom, Kohls and Ross Stores Up Next on Earnings and four of the five companies previewed beat EPS estimates. Ross Stores ( ROST) rescheduled its report to Aug. 22. Two of the five stocks moved higher with one in a moon-shot, while two moved sideways and one moved lower following their quarterly earnings reports. Today's market pulse below shows that the S&P 500 ended Wednesday down just 3.9% since setting its latest all-time high at 1709.67 on Aug. 2. The upside to my semiannual risk level at 1743.50 is 6.1% with the downside risk to my annual value level at 1348.30 is 17.9%.