Investors looking for an excuse to sell JWN

Nordstrom (JWN) price action shows two large spikes in price that reverted to the mean quickly after breaking higher. This kind of price pattern suggests overhead resistance, with many investors eager to sell if only they could get a slightly higher price. This may be a "sell-the-news" stock, where the quarterly report is favorable, but the shares sell off anyway in the days that follow. The stock tracks fairly close to State Street's S&P Retail ETF (XRT), suggesting that the overhead resistance may have as much to do with the retail industry as with the company's own prospects.