Retailers Not Participating In Rally

Macy's, Inc. M and Nordstrom, Inc. JWN shares are both off by over 4 percent compared with the broad market's gain of 0.5 percent.

In fact, both issues are trading at their lowest levels in quite some time. Macy's is trading at its lowest level ($47.81) since it bottomed in November 2013 at $45.56. Nordstrom is trading at its lowest level since last October when it bottomed at $61.23.