The All-Time High list has been growing steadily over the past week, which is technically a good sign. Any indicator needs to be looked in context. In this case, defensive, boring and low growth industries represent the majority of stocks on the list, which doesn’t bode well for the sustainability and potential of the recent rally.
Let’s take a closer look:
Agricultural Chemicals: $CF $TNH
Autoparts: $MNRO $AZO
Beverages: $HANS $KO $FIZZ $ABV
Discount Stores: $PSMT $DG $DLTR
Utilities: $PGN $ITC $UIL $WGL $NI
Personal Products: $NUS $KMB $CL $CHD
Fast food restaurants: $DPZ $ARCO $MCD
Medical Equipment: $MAKO $ELGX
Gold Miners: $RIC $RGLD
Other names on the current all-time high list: $RGR $WCN $MKTX $TUDO $MLI $AFSI $PRA $PSA $NNN $ACC $FRT $CATM $PRGO $CVV $FCFS
