The Consumer Is Alive
03/05/2010 9:36 am EST
That is the message from the strong action of the retailers as the Dow Jones Retailers broke out above resistance a week ago. Many were skeptical over the economic recovery based on their pessimistic view of the consumer, but many of the high- and low-end retail stocks look quite strong. Family Dollar (FDO) surged Thursday on heavy volume with next major resistance at $40-$44. FDO was picked up in this recent S&P scan and has good support at $32-$34.