Chart 1 shows Wal Mart surging 4% today to break out to a record high. That’s a pleasant change for the world’s largest retailer which has hardly been a market leaders. The WMT/SPX relative strength ratio (above chart) is just starting to rise after falling for most of the last year. That’s obviously a positive sign for the retail sector as well. Falling oil prices are one of the catalysts behind the recent surge in retailers. But there may be more to it than that.