by Bespoke Investment Group
Despite the 'typical' consumer that is considered to be under water on his/her mortgage, out of or under-worked, and simply strapped for cash, the Consumer Discretionary sector continues to rally on. Last week, the sector became the first of the ten major sectors to make a new bull market high. In the process of making that new high on Friday, more than 20% of stocks in the sector traded to new highs as well. The last time that many stocks in the sector hit new highs on the same day was all the way back in February.
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