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Friday
Jul012011

Consumer Discretionary Getting Close to a Bull Market High

Don't look now, but the Consumer Discretionary sector is less than 10 basis points away from its bull market closing high reached on May 12th.  With a gain of 8.3% since June 16th, Consumer Discretionary has definitely led the overall market higher during the current run.  As shown in the second chart below, Consumer Discretionary is the closest to its bull market closing high out of all ten sectors at -0.09%.  With the way the market is moving today, the sector could easily close at a new bull market high.  The S&P 500 as a whole is now just 2.27% from its bull market closing high.

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