Stocks quoted in this article:
One of the best-performing sectors during Wednesday's session was the S&P Retail Index (RLX - 880.91), which closed four percent higher on the day. This was due in part to strong days from Wal-Mart Stores (WMT - 57-5/8), CVS Corp. (CVS - 43-1/2), Home Depot (HD - 48-13/16), and Kohl's (KSS - 51-3/4). The index's intraday high, however, was defined by its overhead 20-day moving average. This descending trendline has provided resistance to the index for the past several sessions. Additionally, the RLX finished the day back below its 10-day moving average, which it had managed to inch above during intraday activity. From a longer-term perspective, the index continues to trade below its 10-month and 20-week moving averages.